908 Amendments of Cora van NIEUWENHUIZEN
Amendment 65 #
2017/2071(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Stresses that the EIB should be more transparent about the projects and countries they finance outside the European Union, in particular in its annual report, and should ensure that all operations are in line with international tax transparency standards, in order to secure that financial activities do not benefit corrupt systems and individuals in third countries.
Amendment 30 #
2017/2005(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Warns that a mandatory harmonisation of national models or their replacement by a European one could lead to unintended negative consequences for markets whose current success relies on CB legislation being embedded in national laws; insists that European legislationa more integrated European framework should be limited to a principles-based approach which establishes the objectives but leaves the ways and means to be specified in the transposition to national laws; stresses that this framework should be based on high- quality standards and best market practices, building on national regimes that work well without disrupting them.
Amendment 53 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point b – paragraph 1 – introductory part
Paragraph 4 – point b – paragraph 1 – introductory part
National law ensures dual recourse, i.e.that the investor has:
Amendment 55 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point b – paragraph 1 – point i
Paragraph 4 – point b – paragraph 1 – point i
i) a claim on the issuer of the security equal to the full payment obligations attached to it, and
Amendment 56 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point b – paragraph 1 – point ii
Paragraph 4 – point b – paragraph 1 – point ii
ii) an equivalent priority claim on the cover pool assets (including substitution assets and derivatives) in the event of the issuer’s default. and
Amendment 57 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point b – paragraph 2
Paragraph 4 – point b – paragraph 2
Amendment 66 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point e
Paragraph 4 – point e
e) Overcollateralisation (OC) is applied to the cover pool. By an extent to be determined in national law, the value of all cover pool assets must always be greater than the net present value of outstanding payment obligations. The value ofunderlying calculation methods for cover pool assets is at all and liabilitimes to be determined on the basis of market prices when market prices are available(e.g. book value, nominal value or swap rate discounted values) and on the basis of face values adjusted for market conditionscalculation frequency (at least monthly) should be clearly defined ifn no market prices are available;ational law.
Amendment 69 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point f
Paragraph 4 – point f
Amendment 85 #
2017/2005(INI)
Motion for a resolution
Paragraph 4 – point i
Paragraph 4 – point i
i) The issuer is required to disclose at least biannually aggregate data on the programme to a level of detail that enables investors to carry out a comprehensive risk analysis. Information should be provided on the credit risk, market risk and liquidity risk characteristics of cover assets, on counterparties involved in the programme and on the levels of legal, contractual and voluntary OC and contain a section on derivatives attached to cover pool assets and liabilities;
Amendment 104 #
2017/2005(INI)
Motion for a resolution
Paragraph 5 – point c
Paragraph 5 – point c
c) The maturity of the CB cannot be extended, except in the event of insolvency or resolution of the issuer and with approval by the competent supervisory authority. The exact conditions of the extension event and potential changes of coupon, maturity and other features should be made clear in the terms and conditions of each bond;
Amendment 113 #
2017/2005(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recommends that market access barriers for issuers in developing CB and ESN markets outside the EEA be removed by providing equitable treatment to CBs and ESNs from issuers in third countries, provided their legal, institutional and supervisory environment passes a thorough equivalence assessment by a competent European institution;
Amendment 7 #
2016/2325(INI)
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
– having regard to the The Hague Manifesto on Space Policy of June 2016;
Amendment 8 #
2016/2325(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the benefits of space for society are manifold and can lead to a more competitive economy for Europe, through developing many new products and services and supporting agriculture, forestry, fisheries and maritime transport; whereas satellite technology can lead to better access to communication technologies, high-resolution Earth Observation systems that allow for the exchange of information in real-time, a rapid response to natural disasters and more effective border and security controls;
Amendment 9 #
2016/2325(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas space technologies, data and services can support a variety of EU public policies and key political priorities, such as boosting the Digital Single Market, stimulating the European economy and tackling climate change;
Amendment 18 #
2016/2325(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Reminds the Commission that continuity in EU space programmes is imperative, in particular in order to create a positive and predictable investment climate in the downstream sector; considers that this can only be achieved if public funding of the respective infrastructure and services is guaranteed in the long term, including in areas with significant private sector involvementspace flagship programmes and a downstream data infrastructure is guaranteed in the long term possibly through Public-Private Partnerships;
Amendment 24 #
2016/2325(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Believes that it is necessary to evaluate the governance of the Galileo and Copernicus programmes before the presentation by the Commission of its new legislative proposals as part of the next MFF; considers that this evaluation should address amongst other matters the future role of the European GNSS Agency (GSA) in Galileo and a potential role in Copernicus, how to simplify the GSA’s relationship with the European Space Agency (ESA) and the current split between the Agency’s core and delegated tasks;
Amendment 30 #
2016/2325(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Asks the Commission to review the adequacy of resources allocated to the GSA, taking into consideration its current and future tasks and the risks of conflicts of interest resulting from the outsourcing of tasks, in cooperation with ESA, to study different options by which the complicated institutional landscape in European space governance can be simplified, improving effectiveness and cost efficiency; stresses that a multiplicity of agencies and organisations does not lead to better space policy;
Amendment 46 #
2016/2325(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the Commission to accelerate the full economic exploitation of the Galileo and Copernicus programmes by setting adequate targets for market uptake and by simplifyroving the access to and the processing of Copernicus data in order to enable enterprises and SMEs in particular to develop applications based on space data;
Amendment 48 #
2016/2325(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Welcomes the Commission's actions in procuring cloud platforms for Earth Observation data, to ensure that Europe reaps the full economic benefit of its flagship space programmes and to establish sustainable user access and competence building; urges the Commission to speed up its work in this area so that the first data platforms can be operational in 2018; believes that all tenders for these platforms should be open to private actors;
Amendment 54 #
2016/2325(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Stresses the need for 'space proof' legislation; calls on the Commission to remove barriers to use of space technologies by the public sector, e.g. for monitoring compliance with new and existing European legislation; Believes that public policy can be improved considerably by using space technology; asks the Commission and Member States to stimulate uptake of space technology by European, national, regional and local authorities;
Amendment 56 #
2016/2325(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that the success of the space sector is highly dependent on research and innovation and that the next Framework Programme should put an emphasis on space-related research, whilst ensuring efficiency through full cooperation between the EU, the ESA and the Member States in areas such as launcher research; ; calls for enhancement and extension of the dedicated space budget line under Framework Programme 9, whilst ensuring efficiency through full cooperation between the EU, the ESA and the Member States; believes that research & innovation should be stimulated and financed on a broad array of space technologies, but also on how to create awareness of space opportunities; urges the Commission to extend the use of the SME instrument for scaling-up business opportunities in space-based products and services both within Horizon 2020 and in future Framework Programmes;
Amendment 76 #
2016/2325(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses that the widespread use of the Galileo signal is a precondition for the development of a strong downstream market for space-based applications and services and that adequate measures, including regulatory ones, should be taken in order to make full compatibility with Galileo and EGNOS the standard for devices sold in the EU;
Amendment 79 #
2016/2325(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Highlights the ability of satellites to provide uninterrupted very high capacity connectivity, in particular in remote areas and outermost regions, which will be essential for the development of 5G networks, enabling services such as autonomous drivinghigh- speed networks and the expansion of the Internet of Things, enabling services such as autonomous driving; emphasizes the complementarity of terrestrial and space- based technologies for delivering Very High Capacity networks; asks the Commission to recognize this and to ensure a technology neutral communication technology mix; stresses also the need to reserve adequate frequency bands for the operation of these satellite services; calls for this to be addressed in legislative work on telecommunication networks;
Amendment 86 #
2016/2325(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Highlights the importance of a European space strategy for a comprehensive EU maritime policy, in particular of a more coordinated use of satellites to facilitate maritime research and to improve maritime surveillance.
Amendment 100 #
2016/2325(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses that SMEusers such as SMEs and local and regional authorities are still not sufficiently aware of funding opportunities, including those by the EIB, for projects with a link to Galileo or Copernicus, and that the targeted dissemination of information about these opportunities has to be urgently improved;
Amendment 101 #
2016/2325(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the announcement of the Commission to aggregate its demand for launchers and launching servicein space-based services and infrastructures to mutualize costs and risks and to help reach a critical mass allowing economies of scale; believes that this should happen on a cross-DG basis; calls on the Commission to ensure fair treatment of EU enterprises vis-à-vis enterprises from third countries in public procurement, specifically by working towards a global level playing field, and by taking into consideration the prices that companies charge to other customers worldwide; welcomes the Commission proposal to strengthen use of innovative procurement schemes;
Amendment 110 #
2016/2325(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Notes a lack of visibility as to the continuation of the launch vehicle programme in Europe beyond the next 3 to 4 years (Ariane 6 and Vega C) and as to the financial situation for this programme; expresses concern at the lack of any mid- to long-term launch programme; urges the Commission to come forward with a work programme for launch vehicles in Europe for the next 20 years;
Amendment 113 #
2016/2325(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Calls on the Commission to act as a 'launching customer' for the European space sector, for example by buying European Earth Observation data for policy objectives or Galileo-enabled smartphones for EU-officials;
Amendment 142 #
2016/2325(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Emphasises that cyber crime is a very fast going sector worldwide; underlines that a large part of our economy is relying on space-related services and that cyber attacks therefore pose a large threat; asks the Commission to ensure that all the relevant agencies have contingency plans in place for possible cyber attacks;
Amendment 149 #
2016/2325(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the Commission to design the planned Govsatcom initiative in a cost- effective way, if the impact assessment is sufficiently positive, which may include purchasing services from commercial communication satellites, and to ensure that the initiative creates significant added value and avoids duplicating existing structures;
Amendment 152 #
2016/2325(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Notes the increased use of small satellites, which are frequently operated in constellations; stresses the importance of the availability of smallsat-launchers as well, so that Europe will have cost- efficient methods to launch small satellites; asks the Commission to become more active in stimulating R&D&I projects in this regard;
Amendment 162 #
2016/2325(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Underlines that space is traditionally a sector where good international cooperation is taking place; emphasises the importance of international cooperation on all non- sensitive space issues, such as placing dedicated Copernicus servers in third countries for exchanging data, as long as the principle of reciprocity is assured;
Amendment 164 #
2016/2325(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Asks the Commission to examinemonitor existing private sector ambitions in the area of space mining and to work towards a respective international agreement in order to avoid a race for depletable resources in space;
Amendment 169 #
2016/2325(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Considers that democratic support is important for investing in space; Calls on the Commission to present a well- designed and comprehensive communication strategy about the benefits of space technologies for citizens and businesses; Urges the Commission to implement three pillars in its this strategy, in order to more effectively address three important groups of people: 1. Raising awareness with the general public of the necessity of investments in space; 2. Informing SMEs and entrepreneurs about the opportunities of the Space flagship programmes; 3. Including space in education in order to close the skills gap; Asks the Commission to present the European Parliament with a roadmap on the creation of this communication strategy as soon as possible;
Amendment 170 #
2016/2325(INI)
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27b. Highlights that the regional dimension is essential in bringing the benefits of space closer to users and thus putting users at the centre of a European space strategy; underlines that local and regional authorities should be involved in the implementation of European space policy, as it also supports smart specialisation strategies in many regions; underlines that space technologies provide opportunities concerning objectives in EU policies such as the EU Urban Agenda, smart energy and city planning;
Amendment 8 #
2016/2305(INI)
Motion for a resolution
Recital A
Recital A
A. whereas 5Gthe Gigabit Society and Very High Capacity (VHC) networks will be an engine for innovation in Europe, bringing disruptive change across industries and creating new use cases, high-quality services and products, revenue streams and business models, boosting the competitiveness of industries and consumer satisfaction; whereas 5G will be a key building block of the Gigabit Society, representing the standard for the future in mobile communication technologies;
Amendment 24 #
2016/2305(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas a technology neutral approach will ensure that an optimal combination of the best technologies is deployed to deliver the Gigabit Society to European users across regions and sectors;
Amendment 27 #
2016/2305(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the development of the Gigabit Society and VHC-networks is a necessity for the transition to a modern, data-driven economy for Europe by enabling, inter alia, the Internet of Things and cloud computing;
Amendment 78 #
2016/2305(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that the construction of 5G wireless networks requires flexible and efficient use of all available non- contiguous parts of the spectrum, including 700Mhz band, for widely different network deployment scenarios, withhich requires the development of innovative spectrum licensing models and a clear emphasis on harmonising the available spectrum bands on a regional basisfor 5G at EU and global level;
Amendment 86 #
2016/2305(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that sector players should benefit from a level playing field and should enjoy the flexibility to design their own networks, choosing their investment model and the most appropriate technology, including fibre-to-the-home (FTTH), Wi-Fi, G.fast, 2G, cable, satellite or any other rapid development technologies thatwithin a regulatory framework that drives competition and will help connect all Europeans to VHC networks;
Amendment 92 #
2016/2305(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that sector players should benefit from a level playing field and should enjoy the flexibility to design their own networks, choosing their investment model and the most appropriate technology, including fibre-to-the-home (FTTH), Wi-Fi, G.fast, 2G, cable, satellite, novel 5G technologies such as Massive MIMO or any other rapid development technologies that will help connect all Europeans to VHC networks;
Amendment 102 #
2016/2305(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Emphasizes that technology neutrality should be a fundamental principle in the construction of the Gigabit Society; stresses that a 'one size fits all' technology approach should be avoided because each region and sector is unique; calls on all relevant actors to assess the appropriateness of different technologies and infrastructures in their specific situations and geographical locations; underlines that FTTH and 5G mobile communications must be complemented by technologies like satellite communications and high-speed Wi-Fi;
Amendment 108 #
2016/2305(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Stresses that fair competition and a level playing field for market participants are key necessities for the deployment of the Gigabit Society by market participants; believes that the principle of 'same services, same risk, same rules' should apply in this respect;
Amendment 111 #
2016/2305(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes that 5G should be instrumental inthe Gigabit Society should tacklinge the digital divide and in improving internet take-up, especially in rural and remote areas; stresses that satellite technologies have the potential to bring high-speed connectivity to such remote and rural areas;
Amendment 134 #
2016/2305(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Calls on the European Commission to pay special attention to indoor coverage in its 5G Action Plan, considering that a large part of 5G applications will be used inside homes and offices; recalls the poor building penetration of higher frequency networks; recommends the assessment of additional technologies to ensure good indoor coverage, such as Massive MIMO, indoor repeaters and WiGig high speed Wi-Fi applications;
Amendment 140 #
2016/2305(INI)
11. Believes that 5G will enable new high-quality services, connect new industries and ultimately improve the customer experience for increasingly sophisticated and demanding digital users; highlights that 5G can offer solutions to important societal challenges through its ability to significantly cut the energy use of mobile devices and through its transformative potential of sectors like health and transport;
Amendment 157 #
2016/2305(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Stresses that policies on the Gigabit Society and 5G should be proportionate, frequently revised and in accordance with the 'Innovation Principle', so that potential effects on innovation will be part of the impact assessment;
Amendment 171 #
2016/2305(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Believes that the best path towards the gigabit society lies in a technology- inclusive neutral approach supported by a broad range of investment models such as public- private or co-investments; notes that co- investment in very high capacity networks can help to pool resources, enable different flexible frameworks and lower deployment costs;
Amendment 181 #
2016/2305(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that commercialprivate investments should be supported by a policy and regulatory environment tailored to predictability and thelegal certainty of return on investments, and should not be delayed by overly ambitious public schemes that may impede 5G rollout;
Amendment 183 #
2016/2305(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Underlines the importance of cooperation between academia, research institutions, the private sector and the public sector on research & development concerning 5G mobile communications; points to the 5G PPP as a positive example in this regard and encourages the European Commission to continue involving all relevant sectors in the process;
Amendment 201 #
2016/2305(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Strongly encourages increased experimentation with 5G technologies; supports the development of integrated solutions and tests followed by cross- industry trials of large-scale pilots in response to demand for services in the gigabit society; calls on the Commission and the Member States to ensure sufficient unlicensed frequency bands to stimulate experiments conducted by the industry; asks the Commission to consider setting a concrete and appealing target, such as the Euro 2020 football championship, as a framework for private sector experimentation with 5G technologies and products; points in this regard to the example of the 2018 Olympic Games with regard to South Korean 5G-endeavours;
Amendment 209 #
2016/2305(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Highlights that the development of the gigabit society requires fewer and simpler common EU rules, which should be future- oriented, pro-investment, pro- innovation and based on an assessment of market competition; stresses that infrastructure- based competition offers the potential for less regulation and allows for a fair long- term return on investmentsdrivers of competition at both the infrastructure and the services level ;
Amendment 232 #
2016/2305(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Recalls that SMEs would benefit greatly from access to 5G solutions; calls on the Commission to detail its action plans to facilitate SME participation in experimentation with 5G technologies and to ensure SME access to the 5G Participatory Broadband Platform;
Amendment 6 #
2016/2274(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that open, voluntary, inclusive and consensus-oriented standardisation processes have been effective;
Amendment 13 #
2016/2274(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Emphasises that effective standardisation in support of digitisation is crucial for the transformation to a modern data-driven economy and the development of the Digital Single Market; calls for increased cooperation between the European standardisation organisations, especially concerning the ICT priority areas of cyber security, 5G communications, cloud computing, the Internet of Things and data technologies;
Amendment 20 #
2016/2274(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Recognises the strategic importance of ICT standardisation and calls on the Commission to support an EUthe presence in international ICT foraof European standardisation organisations in international standardisation bodies such as ISO, IEC and ITU;
Amendment 49 #
2016/2274(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Asks the Commission to rationalise the number of platforms and coordination mechanisms and to involve the existing recognized European standardisation bodies, such as ETSI, CEN and CENELEC, in new initiatives; stresses the strategic importance of developing global standards;
Amendment 65 #
2016/2274(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Encourages the European adoption of thea Reference Architecture Model for Idigitising industry 4.0;
Amendment 110 #
2016/2274(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Highlights the fact that the FRAND (fair, reasonable and non-discriminatory) system of licensing strikes an important balance between innovators and technology users, by guaranteeing access to, and efficient licensing of, standard essential patents; stresses that essential R&D contributions to standardisation will be stimulated by maintaining a balanced standardisation framework;
Amendment 59 #
2016/2273(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Notes that the uptake of innovative solutions for data-intensive public services, such as the use of cloud services, is still slow and fragmented; recalls that services like INSPIRE generate large volumes of data, which require higher computing capacity; welcomes in this regard the Commission's "European Cloud Initiative" and considers that the user base of the European Open Science Cloud should be extended to the public sector;
Amendment 62 #
2016/2273(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Highlights the importance of raising awareness among citizens regarding available e-government tools and services; believes that digital inclusion can be further increased through a user-centric and needs based- approach for e-government services; therefore welcomes the principle of inclusiveness and accessibility in the Action Plan;
Amendment 47 #
2016/2271(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas the development of the Internet of Things is central to the automation of manufacturing processes; whereas this development can only be scaled up through investment in high- speed connectivity, High Performance Computing and mass data storage facilities;
Amendment 50 #
2016/2271(INI)
Motion for a resolution
Recital H
Recital H
H. whereas there is widespread concern as regards the labour market effects of digitalisation in industrial manufacturing as well as its possible effects on workplace democracy and regional developmentdigitisation in industrial manufacturing will change labour market demand in Europe; whereas, in order to meet this change in demand, digital skills in the society as a whole should be increased;
Amendment 117 #
2016/2271(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses the importance of an EU governance structure for the digitalisation of industry that facilitates the coordination of national initiatives and platforms on industrial digitalisation; calls on the Commission to consider setting a non-binding orientation target, that allows the EU to remain a global industrial leader; underlines the importance of advancing digitalisation particularly in those regions that are lagging behinddigitalisation of industry for maintaining the EU's position as a global industrial leader; calls on the Commission to give concrete substance to its ambition of reaching the 20% of GDP manufacturing target; emphasizes, in this light, the re- shoring potential of digitising industry by decreasing production costs; recalls that an enabling regulatory framework and the build-up of a state-of-the-art European digital infrastructure are the best ways of stimulating digitisation of industry; expects that, besides industry leaders and social partners, stakeholders from academia, the standardisation community, trade unions, policy-makers and civil society as well as industry leaders, especially SMEs, will also be invited to play an active role;
Amendment 131 #
2016/2271(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Asks the Commission to establish a specific industrial foresight unit thatcontinue its important work in examinesing manufacturing and digitalisation trends, studiesying pertinent developments in other regions, identifiesying new key technologies and ensuresing that European leadership in these areas is maintained and new trends are integrated into policies and actions; calls on the Commission to cooperate closely with national Research and Technology Organisations in this regard;
Amendment 138 #
2016/2271(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the Commission to ensure that its industry policies are in concordance with the 'Innovation Principle', so that potential effects on research and innovation will be part of the impact assessment;
Amendment 139 #
2016/2271(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Stresses the importance of technology neutrality in all levels of industry policy and legislation; calls on the Commission to safeguard and promote the principle of technology neutrality in all its actions regarding the digitisation of European industry;
Amendment 140 #
2016/2271(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Highlights that industrial value chains are increasingly distributed across Europe and that EU-coordination is therefore justified and necessary; calls on the Commission to facilitate cross- fertilisation between the different national initiatives in digitising industry, such as Industrie 4.0 in Germany, Industrie du Futur in France, Smart Industry in The Netherlands and many more; calls for the exchange of best practices in this regard;
Amendment 155 #
2016/2271(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights in this context the need to advance investment in high-speed connectivity, for example through 5G and, fibre optics and satellite communications, as an instrument for convergence and ensuring a robust digital infrastructural backbone for Europe’s industry;
Amendment 166 #
2016/2271(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Underlines the importance of High Performance Computing for a future- proof European digital infrastructure; stresses that HPC can increase the competitiveness of European industry by allowing access to supercomputer calculating speed for e.g. modelling or simulation; highlights the potential of HPC for SMEs and believes the development of HPC competence centres and the Fortissimo initiative of the European Commission are positive examples in this regard; calls on the Commission and the Member States to maintain high HPC-ambitions and to realise exascale computing for Europe by 2020;
Amendment 171 #
2016/2271(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Emphasises the importance of cloud computing for a future-proof European digital infrastructure; stresses that the Cloud can provide European industry with mass data storage capacities and high processing speed at low costs; calls on the Commission to increase industrial awareness of the benefits of cloud computing, so that a market-led extension of its user base may be attained;
Amendment 173 #
2016/2271(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6c. Stresses the high potential of satellite technologies for digitising industry, notably by establishing high- speed connectivity, also in remote areas, and by facilitating the Internet of Things through positioning services; highlights in this respect the key importance of satellite technology for Highly Automated Driving; calls on the Commission and the Member States to ensure that European industry can benefit to the full extent from the European flagship programmes Galileo and Copernicus;
Amendment 174 #
2016/2271(INI)
Motion for a resolution
Paragraph 6 d (new)
Paragraph 6 d (new)
6d. Takes note of the large opportunities of Distributed Ledger Technology for European industry, for example in the areas of intercompany transactions, traceability during the manufacturing process and recycling; calls on the Commission and national Research and Technology Organisations to identify possible obstacles to the deployment of DLT;
Amendment 195 #
2016/2271(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the establishment of the Smart Specialisation Platform for Industrial Modernisation and particularly the Commission’s proposal for Digital Innovation Hubs (DIH) to strengthen industrial digitalisation and digital innovation for SMEs; calls on the Commission to increase the funding for the DIH and to facilitate a 'sand box' approach in which cross-sectorial experiments in a controlled environment will not be blocked by standing regulation;
Amendment 205 #
2016/2271(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Underlines the transformative nature that Highly Automated Driving can have for transport in Europe; calls on the Commission and the Member States to work together with the transport industry to address legal and technical questions surrounding HAD and identify its obstacles to its cross-border development in the Union;
Amendment 210 #
2016/2271(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights the role that public procurement can play in advancing new industrial digital innovations and technology; asks the Commission to include a digital check in its REFIT Programme and to facilitate exchange of best practices between public authorities on the use of the innovation criteria in public tenders and on the preparation of calls for tenders which leave room to tenderers to propose innovation solutions;
Amendment 229 #
2016/2271(INI)
Motion for a resolution
Subheading 3
Subheading 3
Securing European technology leadership and security in industrial digitalisation: mergers and acquisitions (M&A), cybersecurity, data sovereigntyflows, standardisation
Amendment 247 #
2016/2271(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines the role of cybersecurity within the digitalisation of Europe’s industry; considers cyber-resilience as crucial and cybersecurity as a core sector for European digitalisation effortdesign parameter in all digital innovations; believes that producers are responsible for ensuring safety and security standards on the basis of the available state of the art technology; notes that cybersecurity requirements for the Internet of Things (IoT) and IT security standards must strengthen European cyber-resilience; believes that European standardisation bodies have a special role to play in this respect;
Amendment 254 #
2016/2271(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Believes that there should be common criteria for critical infrastructure and the digital security thereofhigh standards of network and information security for critical infrastructure across Europe; calls therefore on Member States to timely and consistently transpose the "NIS Directive";
Amendment 258 #
2016/2271(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses the need for monitoring of data sovereigntyto ensure the free movement of data, in compliance ,as far as personal data is concerned ,with the General data protection regulation, as real time data flows in a borderless environment are key to the flexibility of the cloud and the take up of digital solutions ; believes that industrial data protection and data ownership, especially b2b, require special attention; notes that open data and open standards can promote new technologies;
Amendment 265 #
2016/2271(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses the need for monitoring of data sovereignty; believes that industrial data protection and data ownership, especially b2b, require special attention; notes that open data and open standards can promote new technologies as well as new applications;
Amendment 275 #
2016/2271(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recognises the importance of protecting technical know-how as regards the exchange and interlinkage of industrial- digital components while at the same time allowing and furthering interoperability and end-to-end connectivity ;
Amendment 280 #
2016/2271(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that European leadership in industrial digitalisation requires a strong standardisation strategy; emphasises the important and unique make-up of Europe’s standardisation bodies, including their inclusive approach; calls on the Commission to promote the development of open standards and welcomes its intention to guarantee access to, and efficient licensing of, standard essential patents under FRAND (fair, reasonable, non-discriminatory) conditions; stresses that essential R&D contributions to standardisation will be safeguarded by maintaining a balanced standardisation framework; calls for an EU coordinated approach towards international fora and consortia such as the Industrial Internet Consortium (IIC);
Amendment 306 #
2016/2271(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses that Europe faces a digital gap in terms of skills; calls for the implementation of a skills guarantee and the right to (re-)training and life-long- learning; emphasises the importance of ensuring the promotion of digital skills; calls on industry to grant employees a ‘digital sabbatical’; asks the Commission to launch a pan- European up-skilling initiative;
Amendment 9 #
2016/2243(INI)
Motion for a resolution
Citation 18 a (new)
Citation 18 a (new)
– Having regard to the European Parliament resolution of 26 May 2016 on virtual currencies (2016/2007(INI)),
Amendment 26 #
2016/2243(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas investments in the application of Fintech represent billions of Euros and keep increasing every year;
Amendment 46 #
2016/2243(INI)
Motion for a resolution
Recital E
Recital E
E. whereas FinTech can lead to considerable benefits, such as faster, cheaper, more transparent, more tailor- made and better financial services for consumers and businesses, and open up many new business opportunities for European entrepreneurs;
Amendment 55 #
2016/2243(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas FinTech can contribute to risk reduction in the financial system by decentralisation and de-concentration of risks, faster clearing and settlement of cash payments and securities trades, and better collateral management and capital optimisation;
Amendment 56 #
2016/2243(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas creating a level-playing field for financial services in the EU is a prerequisite for boosting Fintech in Europe;
Amendment 90 #
2016/2243(INI)
Motion for a resolution
Recital L a (new)
Recital L a (new)
La. whereas the ESAs have started identifying the potential risks and benefits of those technologies; whereas national competent authorities are monitoring these technological developments and have come up with different approaches;
Amendment 166 #
2016/2243(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Emphasises the importance of supervisors having sufficient technical expertise to adequately scrutinise increasingly complex FinTech services; recognises the necessity of breaking down supervisory silos across sectors to accommodate better manage risks concerning cyber-security and privacy; urges the ESAs as well as the national competent authorities to increase their cooperation with other relevant competent authorities across sectors;
Amendment 184 #
2016/2243(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Calls on the Commission and the ESAs to monitor and avoid overlaps of regulation, new barriers to entry on the market and national barriers to those services; calls on the Commission to prevent barriers between Member States due to inconsistencies between national regimes;
Amendment 201 #
2016/2243(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Emphasizes the need for clear rules on data ownership, access and transfer; highlights that increasing amounts of data are generated by machines or processes based on emerging technologies, such as machine learning; stresses that the General Data Protection Regulation provides a clear legal framework on personal data but that more legal certainty is needed regarding other categories of data; believes, in this regard, that a clear distinction should be made between raw data and data resulting from further processing;
Amendment 208 #
2016/2243(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes that there are no clear, comprehensive European guidelines for outsourcing data to the cloud with regard to the financial sector; stresses the need for the development of such guidelines; Highlights the benefits that cloud computing can have for consumers and providers of financial services, in terms of cost efficiency, decreased time to market and a better use of ICT resources; notes that there are no clear, comprehensive European guidelines for outsourcing data to the cloud with regard to the financial sector; stresses the need for the development of such guidelines; stresses that such guidelines are necessary to bring agility and speed to cloud adoption; underlines that high standards of data security and consumer protection should be a part of these guidelines; calls on the Commission and the ESAs to study different possibilities in this regard, such as pre-approved contracts between cloud service providers and financial institutions;
Amendment 214 #
2016/2243(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Notes the necessity of creating more awareness among consumers as regards the value of their personal data; acknowledges that consumers can sell their personal data through re-sharing; underlines that this may lead to economic benefits but can also be used in a discriminatory way; calls on the Commission to investigate the possibility of a European data re-sharing strategy with the aim of putting consumers in control of their data; believes that a clear, consumer-centric approach will increase trust in cloud-based services and stimulate new innovative services offered by diverse actors in the financial value chain, e.g. by using API's or facilitating direct access to data for electronic payments services; asks the Commission to investigate the future potential of Personal Information Management Systems (PIMS) as technical tools for consumers to manage their personal data;
Amendment 257 #
2016/2243(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Is concerned by the increased use of unpermissioned blockchain applications, in particular Bitcoin, for criminal activities, tax evasion, tax avoidance and money laundering; calls on the Commission to investigate the role of bitcoin mixers in this process; invites the Commission to organise an annual multi-stakeholder conference on this subject;
Amendment 272 #
2016/2243(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Asks the ESAs to identify in which cases targeted- or risk-based authentication can be an alternative to strong authentication; further asks the Commission to investigate whether the strong authentication processes can also be executed by other entities than banks;
Amendment 282 #
2016/2243(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls on the ESAs to develop technology-neutral standards and licences for both know-your-customer techniques and remote identification methods, for example based on biometric criteria;
Amendment 295 #
2016/2243(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Calls on the ESAs to partner with private sector players in developing and evaluate innovative technologies that have the potential to safeguard financial stability and increase consumer protection, for instance by mitigating bias in algorithms or by increasing consumer awareness of cyber threats;
Amendment 301 #
2016/2243(INI)
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21b. Notes that the increasing use of big data and artificial intelligence presents benefits to consumers but also entails questions concerning consumer protection; stresses that errors or biases that can lead to discrimination and exclusion in these algorithms can potentially cause systemic risk and harm consumers and investors; notes that insurance is a prominent example of a sector where these technologies are increasingly used, e.g. for risk assessment; asks the Commission and the European Supervisory Authorities (ESAs) to investigate discriminatory effects;
Amendment 315 #
2016/2243(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Emphasises that financial education is a prerequisite for raising awareness in society and equipping citizens with the knowledge that is necessary to make sound decisions concerning financial products and services;
Amendment 166 #
2016/2228(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Points to the important role that space technologies can play in climate change monitoring, since half of the 'essential climate variables' can only be measured from space; calls on all relevant actors to make effective use of the Copernicus earth observation programme in climate change monitoring of the Arctic;
Amendment 337 #
2016/2228(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Given that better knowledge of the Arctic is key to adequately meeting all challenges, encourages the promotion and facilitation of international scientific and research cooperation among all stakeholders active in the field of Arctic research and in establishing research infrastructures; calls on all stakeholders to make full use of the potential of the Copernicus earth observation programme in this respect; supports cooperation between leading Arctic research institutions to develop an integrated European polar research programme under the EU-PolarNet initiative;
Amendment 1 #
2016/2145(INI)
Motion for a resolution
Citation 9
Citation 9
Amendment 2 #
2016/2145(INI)
Motion for a resolution
Citation 9 a (new)
Citation 9 a (new)
- having regard to the European Parliament resolution of 5 May 2010 on a new Digital Agenda for Europe: 2015.eu,
Amendment 3 #
2016/2145(INI)
Motion for a resolution
Citation 16 a (new)
Citation 16 a (new)
- having regard to the Opinion of the European Economic and Social Committee on the European Cloud initiative 2016 TEN/592,
Amendment 4 #
2016/2145(INI)
Motion for a resolution
Citation 16 b (new)
Citation 16 b (new)
- having regard to the OPINION of the Committee of the Regions on the European Cloud Initiative and ICT Standardisation Priorities for the Digital Single Market 2016 SEDEC-VI-012,
Amendment 5 #
2016/2145(INI)
Motion for a resolution
Citation 17
Citation 17
Amendment 6 #
2016/2145(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
- having regard the Commission communication of A NEW SKILLS AGENDA FOR EUROPE, Working together to strengthen human capital, employability and competitiveness COM(2016) 381,
Amendment 8 #
2016/2145(INI)
Motion for a resolution
Citation 17 b (new)
Citation 17 b (new)
- having regard to REGULATION (EU) 2016/679 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation),
Amendment 10 #
2016/2145(INI)
Motion for a resolution
Citation 17 c (new)
Citation 17 c (new)
- having regard to the publication Open Innovation, Open Science, Open to the World - a vision for Europe produced by the European Commission's Directorate-General for Research & Innovation (RTD) published in May 2016,
Amendment 11 #
2016/2145(INI)
Motion for a resolution
Citation 17 d (new)
Citation 17 d (new)
- having regard to Directive (EU) 2016/1148 of the European Parliament and of the Council of 6 July 2016 concerning measures for a high common level of security of network and information systems across the Union,
Amendment 12 #
2016/2145(INI)
Motion for a resolution
Citation 17 e (new)
Citation 17 e (new)
- having regard to Directive of the European Parliament and of the Council establishing the European Electronic Communications Code, COM(2016) 590 final,
Amendment 13 #
2016/2145(INI)
Motion for a resolution
Citation 17 f (new)
Citation 17 f (new)
- having regard the Commission communication of Online Platforms and the Digital Single Market Opportunities and Challenges for Europe, COM(2016) 288/2,
Amendment 14 #
2016/2145(INI)
Motion for a resolution
Citation 17 g (new)
Citation 17 g (new)
- having regard the Commission communication of Towards a modern, more European copyright framework COM(2015) 626 final,
Amendment 15 #
2016/2145(INI)
Motion for a resolution
Citation 17 h (new)
Citation 17 h (new)
- having regard the Commission communication of ICT Standardisation Priorities for the Digital Single Market COM(2016) 176,
Amendment 19 #
2016/2145(INI)
Motion for a resolution
Recital A
Recital A
Amendment 20 #
2016/2145(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the current cloud capacity available in the EU is insufficient and data produced by EU research and industry is therefore often processed elsewhere, making EU researchers and innovators move to places outside the EU, where high data and computing capacity is more immediately available;
Amendment 22 #
2016/2145(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the lack of a clear structure of incentives to share data, the lack of interoperability of scientific data systems and the fragmentation of scientific data infrastructures across disciplines and borders hamper the full potential of data-driven science';
Amendment 23 #
2016/2145(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas the EU is lagging behind on the development of HPC due to its under-investment in establishing a complete HPC system, when countries like the US, China, Japan and Russia are seriously investing in such systems, making them a strategic priority with national programmes to develop them;
Amendment 24 #
2016/2145(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Ad. whereas the full potential of cloud computing for Europe can only be realised when data can flow freely across the Union with clear rules and international data flows play an increasingly important role in the European and global economy;
Amendment 28 #
2016/2145(INI)
Motion for a resolution
Recital B
Recital B
Amendment 29 #
2016/2145(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the Commission Communication entitled 'European Cloud Initiative – Building a competitive data and knowledge economy in Europe' recognise the transformative potential of open science and cloud computing as part of Europe's digital economy;
Amendment 33 #
2016/2145(INI)
Motion for a resolution
Recital C
Recital C
Amendment 34 #
2016/2145(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the General Data Protection Regulation, NIS Directive, and Digital Single Market Strategy can provide the basis for a competitive and thriving European digital economy open to all market players who abide by the rules;
Amendment 36 #
2016/2145(INI)
Motion for a resolution
Recital D
Recital D
Amendment 38 #
2016/2145(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas data are the raw material of the digital economy and whereas the use of data is essential for the digitization of European science and industry and the development of new technologies and the creation of new jobs;
Amendment 39 #
2016/2145(INI)
Motion for a resolution
Recital E
Recital E
Amendment 42 #
2016/2145(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the recently adopted General Data Protection Regulation provides strong safeguards for personal data protection and harmonised approach to its implementation should be ensured;
Amendment 44 #
2016/2145(INI)
Motion for a resolution
Recital F
Recital F
Amendment 46 #
2016/2145(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the European Commission's 2015 Digital Single Market Strategy promised to tackle restrictions on the free movement of data and unjustified restrictions on the location of data for storage or processing;
Amendment 47 #
2016/2145(INI)
Motion for a resolution
Recital G
Recital G
Amendment 50 #
2016/2145(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas it is necessary for the Commission to bring forward firm proposals to remove restrictions on the free movement of data to create and deliver the best possible Digital Single Market;
Amendment 52 #
2016/2145(INI)
Motion for a resolution
Recital H
Recital H
Amendment 55 #
2016/2145(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas the deployment and development of cloud services are confronted with challenges given the insufficient availability of necessary high speed infrastructure and networks in Europe;
Amendment 56 #
2016/2145(INI)
Motion for a resolution
Recital I
Recital I
Amendment 60 #
2016/2145(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the aim to facilitate and support the implementation and long-term sustainability of the research and data infrastructures, including world- class High Performance Computing Centers and other research infrastructure networks, will help respond to grand challenges in science, industry and society due to intensified cooperation and exchange of results;
Amendment 61 #
2016/2145(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
Ib. whereas the volume of data is growing at unprecedented pace, there will be 16 trillion gigabyte of data by 2020, corresponding to an annual growth rate of 236% in data generation;
Amendment 62 #
2016/2145(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
Ic. whereas a data driven economy depends on a wider ICT ecosystem to succeed, including IoT for sourcing, high speed broadband networks for transporting and cloud computing for processing data as well as skilled scientists and employees;
Amendment 63 #
2016/2145(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
Amendment 68 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Stresses that work on standardisation in cloud computing should be accelerated; emphasizes that better standards and interoperability will enable communication between different cloud-based systems and will avoid vendor lock-in effects for cloud products and services; calls on the Commission to cooperate closely with commercial cloud providers in developing open standards for this domain;
Amendment 70 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes the European Open Science Cloud as a model for the use of a cloud in the private and public sectors; welcomes the Commission's plan to extend the user base over time to the industry and to governments as fast as possible;
Amendment 72 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Stresses that creating more awareness of the benefits of cloud computing is crucial, as demand for cloud services is still too low in Europe; points out that cloud computing will lead to economic growth as a result of its cost- efficiency and scalability; reiterates that SMEs are Europe's most important engine for jobs and growth; underlines that cloud benefits can be particularly substantive for SMEs as they frequently lack the resources to invest in extensive on-site physical IT systems;
Amendment 74 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Emphasizes that the European Open Science Cloud should be accompanied by a comprehensive cyber security strategy, because the scientific community has a need for a reliable data infrastructure that can be used without exposing research work to data loss, corruption or intrusion; calls on the Commission to take into account cyber security issues from the very first stage of all its IT initiatives;
Amendment 76 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Is concerned by the 4.7 billion Euro financing gap of the European Cloud Initiative; calls on the Commission to identify appropriate financing mechanisms for the European Open Science Cloud and the European Data Infrastructure; further calls on the Commission to provide sufficient resources for this policy area in Horizon 2020 and in its proposal for the Ninth Framework Programme;
Amendment 79 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Believes that the private sector should be involved in the user base of the European Open Science Cloud from the beginning, for example through offering Software as a Service (SaaS); points out that European business is expected to contribute to closing the 4.7 billion Euro financing gap of the European Cloud Initiative; notes that it is unlikely that businesses will invest in the programme if they will be unable to reap its benefits as well;
Amendment 80 #
2016/2145(INI)
Motion for a resolution
Paragraph 1 f (new)
Paragraph 1 f (new)
1f. Underlines that a state-of-the-art supercomputing infrastructure is crucial for the EU's competitiveness; calls on the Commission to realise the availability of operational exascale computers in Europe by the year 2022;
Amendment 88 #
2016/2145(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 92 #
2016/2145(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Believes that the European Cloud Initiative ensures investments into the science and research sectors in order to create the incentives and tools to share and use data as widely as possible, underpinned by building a strong cloud and data infrastructure in Europe;
Amendment 93 #
2016/2145(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 98 #
2016/2145(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Highlights that SMEs are at the heart of the EU's economy and that more actions are needed to promote global competitiveness of SMEs and Start-ups to set the best possible environment with high quality data, data analytics, secure services and expected cost efficiency for the uptake of new promising technological developments;
Amendment 100 #
2016/2145(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 104 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes that the uptake of cloud services among European SMEs needs to be further encouraged; notes that European Cloud providers need further coordinated support addressing the participation in Digital World, widening trust on user side and raising awareness on the benefits of cloud adoption;
Amendment 106 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Notes that digital education actions across generations, including cyber skills are critical for cloud development to identify and act on top technical and effectiveness skills gaps to achieve digital goals; welcomes the Commission's proposals within the framework of its recently adopted New Skills Agenda for Europe and underlines the need for proper financial resources;
Amendment 107 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Believes that Cloud start-ups are emerging with niche solutions to make cloud computing faster, easier, more reliable, flexible and secure;
Amendment 108 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4d. Stresses that High Performance Computing, which is important for cloud development, should be treated as an integral part of the European Data Infrastructure across the whole ecosystem and the benefits should be promoted widely;
Amendment 109 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 e (new)
Paragraph 4 e (new)
4e. Notes that involvement of Academia, Research and Universities and all stakeholders should be encouraged in order to maintain and support integrated scientific data infrastructures and High Performance Computing;
Amendment 110 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 f (new)
Paragraph 4 f (new)
4f. Notes that with the existing and upcoming offered services from private sector and countries outside the EU, the European Open Science Cloud needs to provide incentives and services to break a long-formed habit and existing research practices;
Amendment 111 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 g (new)
Paragraph 4 g (new)
4g. Calls on the Commission and Member States to ensure that there is a focus on future-oriented European growth in order to build a competitive cloud industry in Europe; emphasises the importance of ensuring that the market demand for cloud solutions continues to increase and cloud adoption is encouraged in vertical industries like finance, taxation and social security, manufacturing, banking, health, media and entertainment, agriculture;
Amendment 112 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 h (new)
Paragraph 4 h (new)
4h. Believes that the GDPR provides a framework for the protection of personal data, notes however that fragmentation in its implementation across Member States would make it more difficult for researchers to carry out their work and share their findings which will undermined efforts at creating cooperation between researchers enabled by cloud computing; calls for its proper implementation and enforcement;
Amendment 113 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 i (new)
Paragraph 4 i (new)
4i. Stresses that solutions under the European Cloud Initiative should be developed with due regard for the fundamental rights enshrined in the Charter of Fundamental Rights, in particular the rights of data protection, privacy, liberty and security;
Amendment 114 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 j (new)
Paragraph 4 j (new)
4j. Notes that the data economy is still in its very early stages, business models are still in development and those that exist are already being disrupted and evolving. Calls on the Commission to ensure that any legislation in this field will be in line with the technology-neutral 'innovation principle' and will not impose serious hurdles to innovation, the digitization of industry, and the development of new technologies such as IoT and AI in Europe.
Amendment 115 #
2016/2145(INI)
Motion for a resolution
Paragraph 4 k (new)
Paragraph 4 k (new)
4k. Calls on the Commission to work with Member States and all stakeholders to participate in identifying the necessary implementing actions in order to maximise the potential offered by the European Cloud Initiative; Believes that Open Innovation and Open Science involve far more actors in the innovation process, from researchers, to entrepreneurs, to users, to governments and civil society;
Amendment 116 #
Amendment 118 #
2016/2145(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 122 #
2016/2145(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses that the Open Science Cloud Initiative should lead to a trusted cloud for all: scientists, business and public services;
Amendment 123 #
2016/2145(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 127 #
2016/2145(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Notes that there is a necessity to foster an open, trusted collaborative platform for the management, analysis, sharing, reuse and preservation of research data on which innovative services can be developed and delivered under the terms and certain conditions;
Amendment 129 #
2016/2145(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the Commission and Member States to explore appropriate governance and funding frameworks, taking sufficient consideration of existing initiatives and their sustainability and of a European-wide level playing field; Stresses that Member States should consider the funding programmes in an integrated way to the Commission approach;
Amendment 130 #
2016/2145(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6c. Calls on the Commission to analyse the full range of financial sources for establishing European Science Cloud and strengthen existing instruments for faster development, especially focusing on best practices;
Amendment 131 #
2016/2145(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 134 #
2016/2145(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Asks the Commission to ensure that all scientific research and data produced by the Horizon 2020 Programme is open by default, and asks Member States to adapt their national research programmes accordingly;
Amendment 135 #
2016/2145(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Understand that the European Open Science Cloud will enable digital science by mainstreaming IT as a Service to the public research sector in Europe; Calls for „ a science cloud federal model" that brings together public research organisations, stakeholders, SMEs, Start- ups and e-Infrastructures with commercial suppliers to build a common platform offering a range of services to Europe's research communities;
Amendment 136 #
2016/2145(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Calls on the Commission and Member States in cooperation with stakeholders to establish a Roadmap to give clear timescales and a set for implementation of the European Open Science Cloud as fast as possible;
Amendment 139 #
Amendment 142 #
2016/2145(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 145 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Stresses the importance for the European Cloud initiative to be based on the Connecting Europe Facility building blocks, in particular Eids and e- signatures to reinforce trust by users in secure, interoperable and seamless electronic communications across Europe;
Amendment 146 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Welcomes that the Cloud Initiative focuses on building high-bandwidth networks, large scale storage facilities, high-performance computing and a European Big Data ecosystem;
Amendment 148 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Stresses that 5G development as well as the rules of the European Electronic Communications Code should to make Open Science Cloud more attractive by means of high qualified internet and new top-quality infrastructure;
Amendment 150 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8c. Approves the Commission's ambition to have the infrastructure and conditions to handle large amounts of data, operated by services, which use real time data from sensors or applications that link data from different sources; Notes that the European Cloud Initiative aims to ensure better and more harmonised work on infrastructure development;
Amendment 151 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 d (new)
Paragraph 8 d (new)
8d. Supports further development of GEANT network for it to become the most advanced international network and maintain Europe's leadership in research;
Amendment 152 #
2016/2145(INI)
Motion for a resolution
Paragraph 8 e (new)
Paragraph 8 e (new)
8e. Calls on the Commission and the Member States to coordinate with stakeholders to reduce the fragmentation of digital infrastructures by setting a roadmap for actions and a robust governance structure involving funders, procurers and users and stresses the need to promote Open Science principles for data management and sharing in compliance with innovation incentives, privacy and intellectual property in the digital age;
Amendment 153 #
2016/2145(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 157 #
2016/2145(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Notes that the European economy is increasingly relying on the power of supercomputers to invent innovative solutions, reduce cost and decrease time to market for products and services; Support the Commission efforts to create an exascale supercomputer systems based on European hardware technology;
Amendment 159 #
2016/2145(INI)
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Believes that Europe needs a complete HPC ecosystem to acquire leadership-class supercomputers, secure its HPC system supply, and deploy HPC services to industry and SMEs for simulation, visualisation and prototyping. Considers that it is of upmost importance to put the EU among the top supercomputing powers in the world by 2022;
Amendment 161 #
2016/2145(INI)
Motion for a resolution
Paragraph 9 c (new)
Paragraph 9 c (new)
9c. Believes that the European Technology Platform and the cPPP on HPc are crucial to define Europe's research priorities in developing European technology in all segments of the HPC solution supply chain;
Amendment 162 #
2016/2145(INI)
Motion for a resolution
Paragraph 9 d (new)
Paragraph 9 d (new)
9d. Welcomes the Commission's proposal, in line with the Quantum Manifesto to launch a €1 billion Flagship-scale Initiative in Quantum Technology;
Amendment 166 #
2016/2145(INI)
Motion for a resolution
Subheading 4
Subheading 4
Amendment 169 #
2016/2145(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 171 #
2016/2145(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Believes that the development of clear standards for cloud interoperability, data portability and service level agreements will ensure certainty and transparency for both cloud providers and end-users;
Amendment 173 #
2016/2145(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Stresses that reliability, security and protection of personal data is needed for consumer confidence, trust as a basis for healthy competitiveness;
Amendment 174 #
2016/2145(INI)
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. Notes that industry should play a key role in developing widely accepted standards fit for the digital age, such standards will give confidence to cloud providers to keep innovation and to users to further adopt cloud services at the European level;
Amendment 175 #
2016/2145(INI)
Motion for a resolution
Paragraph 10 d (new)
Paragraph 10 d (new)
10d. Calls on the Commission to take the lead in promoting intersectoral, cross- lingual and cross-border interoperability and cloud standards and supporting privacy-friendly, reliable, secure and energy-efficient cloud services as an integral part of common strategy focusing on maximizing the opportunities to develop standards that have the capacity of becoming worldwide standards;
Amendment 176 #
2016/2145(INI)
Motion for a resolution
Paragraph 10 e (new)
Paragraph 10 e (new)
10e. Notes that an Action plan on data interoperability is necessary to harness the high quantity of data that European scientists produce and improve their reusability in science and industry; Calls on the Commission to work with key scientific stakeholders to produce effective systems to make data findable, accessible, interoperable and reusable (FAIR), including meta-data, common specifications and data object identifiers;
Amendment 178 #
2016/2145(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 182 #
2016/2145(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Calls for measures to preserve a high-quality standardisation system that can attract the best technology contributions; asks the Commission to adopt policies that remove excessive barriers in innovative sectors, to incentivise investments in research and development and European standardization;
Amendment 184 #
2016/2145(INI)
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11b. Urge the Commission to maximise its efforts to avoid the possibility of vendor lock-in on the digital market from the beginning, especially in emerging areas such as the European Cloud initiative;
Amendment 185 #
2016/2145(INI)
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
11c. Acknowledges the importance of interoperability and standards in boosting competitiveness in the ICT sector, asks the Commission to identify gaps in standards in the European Science Cloud, including as regards SMEs, Startups and key European sectors; supports the development of market-driven, voluntary, technology-neutral, transparent, globally compatible and market-relevant standards;
Amendment 186 #
2016/2145(INI)
Motion for a resolution
Paragraph 11 d (new)
Paragraph 11 d (new)
11d. Considers that the 'ISA2' programme offers an opportunity to develop interoperability standards for Big Data management within public administrations and in their dealings with businesses and citizens;
Amendment 188 #
2016/2145(INI)
Motion for a resolution
Subheading 5
Subheading 5
Amendment 190 #
2016/2145(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 193 #
2016/2145(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Welcomes that the development of the European Open Science Cloud will allow researchers and science professionals a place to store, share, use and re-use data and can set the foundation for data driven innovation in Europe; Stresses that benefits of data sharing have been widely recognized;
Amendment 196 #
2016/2145(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 197 #
2016/2145(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Notes that data has become essential for decision making at the local, national, and global level; notes that sharing data also has important benefits for local and regional authorities and that opening up government data enhances democracy and provides new business opportunities;
Amendment 198 #
2016/2145(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 201 #
2016/2145(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Supports the Commission efforts together with European industry researchers and academia for development of Big Data Value PPP in synergy with the cPPP on HPC that enhance community building around data and HPC and set the grounds for a thriving data-driven economy in Europe; Supports the cybersecurity PPP that fosters cooperation between public and private actors at early stages of the research and innovation process in order to access innovative and trustworthy European solutions;
Amendment 202 #
2016/2145(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 204 #
2016/2145(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Stresses that the EC should liaise closely and as early as possible with industry partners especially SMEs and Startups in order to guarantee that business and industry requirements are adequately addressed and integrated in the later stage of the initiative;
Amendment 206 #
2016/2145(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 209 #
2016/2145(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Encourages public administrations to consider safe, reliable and secure cloud services by providing a clear legal framework and further working to develop cloud-specific certifications schemes. Notes that business and consumers need to feel confident in adopting new technologies;
Amendment 212 #
2016/2145(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 215 #
2016/2145(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Endorses the May 2016 Council conclusions on the transition towards an Open Science system, in particular that the underlying principle for the optimal reuse of research data should be "as open as possible, as closed as necessary";
Amendment 216 #
2016/2145(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 222 #
2016/2145(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 227 #
Amendment 229 #
2016/2145(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 230 #
2016/2145(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Stresses that full availability of public data within the European Open Science Cloud will not be sufficient to remove all barriers to data-based research;
Amendment 232 #
2016/2145(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 233 #
2016/2145(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
Amendment 235 #
2016/2145(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 238 #
2016/2145(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Believes that the Initiative should preserve the balance between rights of researchers, rights holders and other actors in the scientific sphere with fully respect the rights of authors and publishers, while at the same time supporting innovative research in Europe;
Amendment 240 #
2016/2145(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 244 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Believes that research data can be shared within the EU Open Science Cloud without prejudice to copyright owned by researchers or research institutions, by establishing licensing models where necessary; believes that best practices in this regard are being established within the Horizon 2020 Open Research Data pilot;
Amendment 245 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23b. Believes that the Directive on the legal protection of databases, which needs revamping , limits the use of data without evidence of creating added economic or scientific value;
Amendment 246 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 c (new)
Paragraph 23 c (new)
23c. subheading: Data protection, fundamental rights and data security
Amendment 247 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 d (new)
Paragraph 23 d (new)
23d. Urges the Commission to take action to promote further harmonized laws across the Member States in order to avoid jurisdictional confusion and fragmentation and to ensure transparency in the digital single market;
Amendment 248 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 e (new)
Paragraph 23 e (new)
23e. Believes that Europe is leading the way in privacy protection and advocates a high level of data protection worldwide;
Amendment 249 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 f (new)
Paragraph 23 f (new)
23f. Underlines that a coordinated approach is needed between data protection authorities, policy makers and industry, in order to help organizations in this transition, by providing uniform interpretation and application of the obligations, compliance toolkits and by raising awareness about the key issues for citizens and the business;
Amendment 250 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 g (new)
Paragraph 23 g (new)
23g. Stresses that Europe is a global importer and exporter of digital services and require having a strong cloud computing and data economy to be competitive. Calls on Commission to take a lead in striving towards the creation of uniform, globally accepted standards of personal data protection;
Amendment 251 #
2016/2145(INI)
Motion for a resolution
Paragraph 23 h (new)
Paragraph 23 h (new)
23h. Believes that global data flows are vital to international trade and economic growth and the European Commission Initiative on the free flow of data, should enable companies operating in Europe, particularly in the growing cloud computing sector, to be in the forefront of the global innovation race; Stresses that the Initiative should also aim to lift any arbitrary restrictions on where companies should locate infrastructure or store data as these will hamper the development of Europe's economy;
Amendment 1032 #
2016/2114(REG)
Parliament's Rules of Procedure
Rule 116 – paragraph 3 – subparagraph 1
Rule 116 – paragraph 3 – subparagraph 1
Parliament shall establish a register of Parliament documents. Legislative documents and certain other categories of documents shall, in accordance with Regulation (EC) No 1049/2001, be made directly accessible through the register, in an open and accessible format to allow for the reuse of content. References to other Parliament documents shall as far as possible be included in the register.
Amendment 11 #
2016/2063(INI)
Motion for a resolution
Recital B
Recital B
B. whereas, according to the same forecast, unemployment in the euro area is expected to record a slow decrease, from 10.9 % at the end of 2015 to 9.9 % at the end of 2017; whereas disparities between the unemployment rates of the Member States continued to widen in 2015, with figures ranging from 4.6 % in Germany to 24.9 % in Greece;
Amendment 33 #
2016/2063(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the inflation target is getting harder to reach owing to consolidation of demographic trends and the full impact of trade globalisation on a high-unemployment European society;
Amendment 71 #
2016/2063(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses that the euro area continues to suffer from a high level of unemployment and excessive low inflation and that, in addition, the euro area is facing a very low level of productivity growth, which is the result of the lack of investment since the beginning of the crisis; notes that the high level of public debt and particularly the huge number of non- performing loans in the banking sector in some Member States are still fragmenting the euro area financial market, thus reducing room for manoeuvre to support the most fragile economies;
Amendment 156 #
2016/2063(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Underlines that a prolonged period of ultra-low (negative) interest rate policy creates potential risks for financial stability and ultimately the whole economy and emphasises the need for proper, prudent and timely management of the winding down; warns that a decline in the profitability of banks will dampen their willingness to develop lending activity; points particularly to the effect of such an interest rate policy on local and regional banks and savings banks with little funding from financial markets, and to risks in the insurance sector;
Amendment 163 #
2016/2063(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Understands the reason why negative rates have been implemented, but remainphasizes concerneds about the potential consequences of negative interest rate policy for individual savers and the financial equilibrium of pension schemes; believes that owing to demographic trends and cultural preferences for saving, these negative effects on income may lead to an increase in the household saving rate, which could be detrimental to domestic demand in the euro area;
Amendment 18 #
2016/2038(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the ‘Panama Papers’ and ‘LuxLeaks’ scandals, as revealed by the International Consortium of Investigative Journalists (ICIJ), have shown the urgent need for the EU and its Member States to fight tax evasion and avoidance and act for increased cooperation and transparency in order to re-establish tax justicefairness and an equal level playing field;
Amendment 97 #
2016/2038(INI)
Motion for a resolution
Recital K
Recital K
K. whereas some Member States have prepared their own lists of uncooperative jurisdictions; whereas there are big differences between these lists as to how uncooperative jurisdictions or tax havens are defined or assessed; whereas the OECD’s list of uncooperative jurisdictions has not proved effective; whereas a common Union-wide already has a list of uncooperative jurisdictions is still lacking;
Amendment 177 #
2016/2038(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Anti-tax Avoidance Package (ATAP) published by the Commission on 28 January 2016, as well as all legislative proposals and communications already undertaken afterwards; calls on the Council to reach a unanimous position on the ATAP and keep the Anti-Tax Avoidance Directive as one single directive; welcomes the initiative to create a common Union list of uncooperative jurisdictions in the External Strategy for Effective Taxation;
Amendment 201 #
2016/2038(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the Commission’s adoption on 12 April 2016 of a proposal for a directive amending Directive 2013/34/EU as regards disclosure by companies, their subsidiaries and branches, of information relating to income tax and to increased transparency in company tax; regrets, however, that the proposed scope, criteria and thresholds are not in line with the previous positions adopted by Parliament;
Amendment 230 #
2016/2038(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the fact that the Commissioner for Competition, Margrethe Vestager, has categorised transfer pricing as a particular focus area for state aid cases, as it is reported to be a common tool used by MNEs for tax evasionavoidance schemes such as intera-group loans;
Amendment 232 #
2016/2038(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the fact that the Commissioner for Competition, Margrethe Vestager, has categorised transfer pricing as a particular focus area for state aid cases, as it is reported to be a common tool used by MNEs for tax evasion schemes such as intera-group loans;
Amendment 255 #
2016/2038(INI)
Motion for a resolution
Subheading 10
Subheading 10
Amendment 257 #
2016/2038(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that so far, the only concrete initiative taken by the Commission regarding uncooperative jurisdictions, including overseas territories, has been the External Strategy for Effective Taxation; observes that until now the criteria for listing of uncooperative jurisdictions by the OECD have not proved efficient in tackling this issue and have not served as a deterrent;
Amendment 260 #
2016/2038(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 275 #
2016/2038(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 294 #
2016/2038(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the Member States to renegotiate their bilateral tax treaties with third countries in order to introduce anti- abuse clauses and thus prevent ‘treaty shopping’; stresses furthermore that this process would be expedited considerably if the Commission were mandated by Member States to negotiate such tax treaties on behalf of the Union;
Amendment 297 #
2016/2038(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 319 #
2016/2038(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes that until now, patent, knowledge and R&D boxes have not, in all cases, proven effective in fostering innovation in the Union, but are, rather, used by MNEs for profit-shifting through aggressive tax planning schemes, such as the well-known ‘double Irish with a Dutch sandwich’; considers that patent boxes are an ill-not in all cases a suited tool for achieving economic objectives; insists that R&D can be promoted through subsidies which should be given preference over patent boxes, as subsidies are less at risk of being abused by tax avoidance schemes; observes that the link between patent boxes and R&D activities is oftencan be arbitrary and that current models can lead to a race to the bottom with regard to the effective tax contribution of MNEs;
Amendment 324 #
2016/2038(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 352 #
2016/2038(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls on the Commission to come forward with a Union CStresses that professional codes of Cconduct for all advisory services, including a Union incompatibility regime foalready exist at national level; points at the possibility for Member Stax advisers, in order to prevent them from advising both public and private sectors and to prevent other conflicts of intertes to exchange these codes as best practicest;
Amendment 360 #
2016/2038(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses the importance of clear separation between tax advising services and auditing services within accountancy firms; asksnotes that the Commission to study the possibility of revising the Accounting Directive and Regulation to this effectalready addressed this issue in its recent audit reform; therefore urges the Commission to monitor the effectiveness of these new rules;
Amendment 372 #
2016/2038(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Calls on the Commission to analyse the possibility of introducing proportional financial liability for banks and financial institutions facilitating transfers to known tax havens, as defined by the future common Union list of tax havens and uncooperative tax jurisdictions;
Amendment 374 #
2016/2038(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls on the Commission to strengthen the requirements on banks to report to the Member States’ tax authorities transfers to and from jurisdictions included on the common Union list of tax havens and uncooperative tax jurisdictions;
Amendment 458 #
2016/2038(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
Amendment 2 #
2016/2033(INI)
Motion for a resolution
Citation 4 a (new)
Citation 4 a (new)
– having regards to the Report on the future of VAT (2011/2082(INI)),
Amendment 3 #
2016/2033(INI)
Motion for a resolution
Citation 4 b (new)
Citation 4 b (new)
– having regard to the proposal for a directive on the fight against fraud to the Union's financial interests by means of criminal law (COM(2012)0363),
Amendment 4 #
2016/2033(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Single Market, established on 1 January 1993, has abolished border controls for intra- community trade and whereas, under Articles 402-404 of the current VAT Directive, the European Union VAT arrangements in place since 1993 are of a provisional and transitional nature only;
Amendment 12 #
2016/2033(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas, according to a COM study 1a , MTIC fraud (Missing Trader Intra-Community fraud, commonly called carousel fraud) alone is responsible for a VAT revenue loss of approximately €45 billion to €53 billion annually; __________________ 1a http://ec.europa.eu/taxation_customs/reso urces/documents/common/publications/st udies/ey_study_destination_principle.pdf
Amendment 15 #
2016/2033(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas according to Europol estimates, between EUR 40 billion and EUR 60 billion of the annual VAT revenue losses of Member States are caused by organised crime groups, and 2 % of those groups are behind 80 % of missing trader intra-Community fraud;
Amendment 17 #
2016/2033(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
Ec. whereas several Member States under the coordination of Eurojust and Europol have recently conducted three successful and consecutive Vertigo Operations which uncovered in total a 320 million EUR carousel fraud scheme;
Amendment 19 #
2016/2033(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the high administrative costs incurred under the present VAT system, especially with regard to cross- border transactions, could be significantly reduced for small and medium-sized enterprises in particular through the necessary reformsimplification measures;
Amendment 30 #
2016/2033(INI)
Motion for a resolution
Recital H
Recital H
H. whereas, although unanimity in the European Council is required for the definitive VAT system to be established, 23 years after the introduction of the VAT Directive, the so called ‘standstill derogations’ are outdated, in particular with regards to the modern digital economy;
Amendment 58 #
2016/2033(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that it is essential for the Member States to adopt a coordinated tax policy and improve the speed and frequency of their exchange information concerning intra community trade in order to combat tax evasion and tax avoidance more effectively and finally close the existing ‘VAT gap’;
Amendment 67 #
2016/2033(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes the view that cooperation between the Member State tax authorities has been inadequate in the past and the activities of Eurofisc have to date failed achieve any satisfactory results; is of the view that the information exchanged through Eurofisc should be better targeted to fraud;
Amendment 76 #
2016/2033(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls that MS largely depend on information received from other MS concerning intra EU trade in order to be able to collect VAT in their territory; Calls on the authorities responsible to exchange VAT and excise information in particular and to use all available technical meansreliable and user-friendly IT means, such as electronic standard forms, to record cross-border deliveries of goods and services to end- users;
Amendment 110 #
2016/2033(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that the current plethora of VAT rates, the question who is liable for the payment of VAT, proof of intra- community supply, the risk of being involved in missing trader fraud and cash-flow issues, causes great uncertainty for companies involved in cross-border trading;
Amendment 186 #
2016/2033(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the Commission to quickly conduct pilot projects to test out a general reverse charge procedure in terms of cost,benefits, compliance cost, potential implementation problems and long-term advantages, as some Member States have offered to carry out or have called for;
Amendment 210 #
2016/2033(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the Commission's announcement that it will submit an SME package for VAT in 2017; recommends however that the implementation of the new framework should be gradual as it will trigger additional administrative costs (IT infrastructure, VAT processes);
Amendment 213 #
2016/2033(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Notes the complex filing system that imposes a high burden on SMEs and thus discourages cross-border trade; calls on the Commission to include in its SME package the proposal of a unified VAT filing, harmonised reporting requirements and deadlines;
Amendment 86 #
2016/2019(BUD)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Considers that the structural and organisational reforms aimed at achieving greater efficiency, environmental sustainability, and effectiveness should continue through the thorough examination of possible synergies and savings; recalls the substantial savings that could be made by having only one place of work instead of three (Brussels, Strasbourg, Luxembourg); underlines that this process should be lead without endangering Parliament's legislative excellence, its budgetary powers and powers of scrutiny, or the quality of working conditions for Members, assistants, and staff;
Amendment 17 #
2016/2018(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Urges the Commission to respect the deadlines set for delegated acts and implementing acts, and, as a minimum, to officially inform the co-legislators well in advance if it, on an exceptional basis, intends not to respect them, as well as stating its reasons; notes that the Commission recently omitted to do so in numerous cases in the field of financial services, in particular in relation to Regulation (EU) No 648/2012, Directive 2014/65/EU, Regulation (EU) No 600/2014 and Regulation (EU) No 2016/1011, where the Commission did not respect the 3 month deadline laid-down in Article 10(1) of Regulation (EU) No 1095/2010 for the adoption of regulatory technical standards, and where it was unable to inform the co-legislators on how and when it intended to adopt the delegated acts based on ESMA’s technical advice; reminds the Commission that procedures through which Parliament declares it has no objections to an act were never intended to compensate for delays originating at the Commission’s end and that these procedures significantly impact the time available for Parliament to exercise its scrutiny rights;
Amendment 32 #
2016/2006(INI)
Motion for a resolution
Recital I
Recital I
I. whereas the IASB delivered the IFRS 9 financial instruments as a key response to the crisis; whereas EFRAG’s advice on IFRS 9 was positive; points at the fact though, that there still are concerns that the proposed accounting treatment of equity may negatively affect long-term investments;
Amendment 63 #
2016/2006(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Asks the IASB, the Commission and EFRAG to involve the European Parliament and Council at an early stage when developing financial reporting standards in general and in the endorsement process in particular;
Amendment 70 #
2016/2006(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the intention of the Commission to explore with the IASB the possibility of developing common high quality and simplified accounting standards for SMEs which could be used at EU level by SMEs listed on Multilateral Trading Facilities (MTFs), and more specifically SME growth markets; takes into account the possibilities of the already existing financial reporting standards for SMEs in this respect;
Amendment 71 #
2016/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Stresses that national standard setters are now closely integrated into EFRAG; therefore, identifies the advisory role of EFRAG when it comes to accounting issues related to small listed companies as well as SMEs more generally;
Amendment 74 #
2016/2006(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the Commission’s intention to examine the case for strengthencoordinating the EU rules relating to dividend distribution;
Amendment 94 #
2016/2006(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Is concerned that EFRAG has been operating for some time without a President given the key role he/she plays in reaching consensus; stresses the importance of appointing a new President as soon as possible;
Amendment 24 #
2016/0374(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2006/112/EC
Annex III – point 6
Annex III – point 6
(6) the supply, including on loan by libraries, of books, newspapers and periodicals, other than publications wholly or predominantly devoted to advertising and other than publications wholly or predominantly consisting of music or video content; including brochures, leaflets and similar printed matter, children's picture, drawing or colouring books, music printed or in manuscript form, maps and hydrographic or similar charts.
Amendment 15 #
2016/0371(CNS)
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) The use of IT in combating fraud might allow the competent authorities to identify fraud networks faster and in a comprehensive manner. A targeted and balanced approach using new technologies might reduce Member States' general anti-fraud measures and enhancing at the same time the efficiency of the anti-fraud policy.
Amendment 19 #
2016/0370(CNS)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
Amendment 20 #
2016/0370(CNS)
Proposal for a directive
Recital 9 b (new)
Recital 9 b (new)
(9b) This amending Directive may lead to an increase of administrative costs for small consignments as relevant packages need a distinguishing mark indicating that the VAT import scheme has been used and the postal sector has to sort the packages on whether the VAT import scheme is used. Member States and the Commission shall pay close attention to the impact on the postal and courier sector.
Amendment 32 #
2016/0370(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2006/112/EC
Article 58 – paragraph 2 – point c
Article 58 – paragraph 2 – point c
(c) the total value, exclusive of VAT, of such supplies does not in the current calendar year exceed EUR 1035 000, or the equivalent in national currency, and did not do so in the course of the preceding calendar year.
Amendment 37 #
2016/0370(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
Directive 2006/112/EC
Article 369 b – paragraph 1
Article 369 b – paragraph 1
Member States shall permit any taxable person carrying out intra-Community distance sales of goods and any taxable person not established in the Member State of consumption supplying any services to a non-taxable person whoto use this special scheme, regardless of where such non- taxable person is established or has his permanent address or usually resides in that Member State, to use this special scheme. This special scheme applies to all those goods or services supplied in the Community.
Amendment 89 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 119
Article 1 – paragraph 1 – point 119
Regulation (EU) No 575/2013
Article 473a – paragraph 1
Article 473a – paragraph 1
1. Until [date of application of this Article + 5 years]31 December 2022, institutions that prepare their accounts in conformity with the international accounting standards adopted in accordance with the procedure laid down in Article 6(2) of Regulation (EC) No 1606/2002 may add to their Common Equity Tier 1 capital the amount calculated in accordance with paragraph 2 of this Article multiplied by the applicable factor laid down in paragraph 3. , and institutions that are required pursuant to Article 24(2) of this Regulation to effect the valuation of assets and off-balance sheet items and the determination of own funds in accordance with international accounting standards, may, by way of derogation from Article 50 of this Regulation, add to their Common Equity Tier 1 capital the amount calculated in accordance with paragraph 2 of this Article multiplied by the applicable factor laid down in paragraph 3. During the transitional period, an institution may, on a one time basis, change its decision to apply transitional provisions as set out in this Article where it has received prior permission of the competent authority. Institutions shall disclose the decision taken in accordance with this sub- paragraph.
Amendment 160 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 119 (new)
Article 1 – paragraph 1 – point 119 (new)
3a. During the period set out in paragraph 1, in addition to disclosing the information required in Article 99, institutions which choose to apply this Article shall report the amount of own funds, Common Equity Tier 1 capital, Tier 1 capital, the Common Equity Tier 1 capital ratio, the Tier 1 capital ratio, the total capital ratio and leverage ratio they would have in case they would not apply this Article. EBA shall, in accordance with Article 16 of Regulation (EU) No 1093/2010, issue guidelines by [31 December 2017] on the reporting requirements laid down in this Article.
Amendment 23 #
2016/0351(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) In the light of experience gained in past proceedings, it is appropriate to clarify the circumstances in which significant distortions may be deemed to exist, which affecting to a considerable extent free market forces may be deemed to exisprices or costs of the exporters in the country of export. In particular, it is appropriate to clarify that this situation may be deemed to exist, inter alia, when reported prices or costs, including the costs of raw materials, are not the result of free market forces because they are affected by government interventionstate intervention at any level, including central, regional and provincial level. It is further appropriate to clarify that in considerdetermining whether or not such a situation exists regard may be had, inter alia, to, the potential impact, inter alia, of the following should be taken into account: the market in question is to a significant extent served by enterprises which operate under the ownership, control or policy supervision or guidance of the authorities of the exporting country; significant state presence in firms allowing the state to interferethe market or enterprises or state ownership or control of the means of production or the allocation of resources allowing the distortion of free market forces with respect to prices or costs; public policies or measures discriminating in favour of domestic suppliers or otherwise influencing free market forces; andor access to finance granted by institutions implementing public policy objectives. It is further appropriate to provide that the Commission services mayshould, in a timely manner, preferably before the date on which this Regulation enters into force, issue a report describing the specific situation concerning these criteria for significant market distortions in a certain country or a certain sector; that such report and the evidence on which it is based mayshould be placed on the file of any investigation relating to that country or sector; that that such a report and the evidence on which it is based takes due account of all reliable, secure and timely information and data available and will be updated by Commission services on a regular basis as appropriate; and that interested parties should have ample opportunity to comment on the report and the evidence on which it is based in each investigation in which such report or evidence is used.
Amendment 35 #
2016/0351(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) It is further appropriate to recall that costs should normally be calculated on the basis of records kept by the exporter or producer under investigation. However, where there are significant distortions in the exporting country with the consequence that costs reflected in the records of the party concerned are artificially low, and do not reflect actual market values; such costs may be adjusted or established on any reasonable basis, including information from other representative markets or from international prices or benchmarks. In the light of experience gained in past proceedings, it is appropriate to further clarify that, for the purposes of applying the provisions introduced by this regulation, due account should be taken of all relevant evidence, including relevant assessment reports regarding the circumstances prevailing on the domestic market of the exporting producers and the evidence on which they are based, which has been placed on the file, and upon which interested parties have had an opportunity to comment.
Amendment 44 #
2016/0351(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EU) 2016/1036
Article 2 – paragraph 6a – point a
Article 2 – paragraph 6a – point a
(a) In case it is determined, when applying this provision or any other relevant provision of this Regulation, that it is not appropriate to use domestic prices and costs in the exporting country due to the existence of significant market distortions, the normal value shall be constructed on the basis of costs of production and sale reflecting undistorted prices or benchmarks. For this purpose, the sources that may be used include undistorted international prices, costs, or benchmarks, or corresponding costs of production and sale in an appropriate representative country with a similar level of economic development as the exporting country, provided the; an appropriate representative country should be selected in a not unreasonable manner, provided that reliable information and relevant cost data are readily available at the time of selection. The constructed normal value shall include a reasonable amount for administrative, selling and general costs and for profitsinclude a reasonable profit margin.
Amendment 50 #
2016/0351(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EU) 2016/1036
Article 2 – paragraph 6a – point b
Article 2 – paragraph 6a – point b
(b) Significant distortions for the product concerned within the meaning of point (a) may be deemed to exist, inter alia, when reported prices or costs by the exporter in the exporting country, including the costs of raw materials, are not the result of free market forces as they are affected by governmentstate intervention. In consider at any level. In determining whether or not significant distortions exist regard mayshall be had, inter alia, to the potential impact of the following: the market in question is to a significant extent served by enterprises which operate under the ownership, control or policy supervision or guidance of the authorities of the exporting country; state presence in firmthe market or enterprises or state ownership or control of the means of production or the allocation of resources allowing the state to interfere into the free market forces with respect to prices or costs; public policies or measures discriminating in favour of domestic suppliers or otherwise influencing free market forces; and access to finance granted by institutions implementing public policy objectives.
Amendment 64 #
2016/0351(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EU) 2016/1036
Article 2 – paragraph 6a – point c
Article 2 – paragraph 6a – point c
(c) When appropriate and in a timely manner, the Commission services mayshall issue a report describing the specific situation concerning the criteria listed in point (b) in a certain country or a certain sector. Such report and the evidence on which it is based mayshall, if appropriate, be placed on the file of any investigation relating to that country or sector. Interested parties shall have ample opportunity to supplement, comment or rely on the report and the evidence on which it is based in each investigation in which such report or evidence is used. The determinations made shall take into account all of the relevant evidence on the file.relevant evidence on the file, based on reliable, secure and timely information and data available; such report or the evidence on which it is based shall, if appropriate, be updated by Commission services on a regular basis;
Amendment 74 #
2016/0338(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7 a) The scope of this Directive should be extended as soon as possible. The Directive only provides a framework for the resolution of disputes regarding the double taxation of business profits. Disputes on the double taxation of income (i.e. pensions, salaries) have not been brought under its scope, while the impact on individuals can be significant. A different interpretation of a tax agreement by Member States can lead to (economic) double taxation, for example if one Member State interprets a source of income as salary while the other Member State interprets the same source of income as profit. Therefore, interpretation differences in taxation of income between Member States should also be brought under the scope of this Directive.
Amendment 76 #
2016/0338(CNS)
Proposal for a directive
Recital 7 b (new)
Recital 7 b (new)
(7 b) Currently, it is unclear how this Directive relates to existing arbitration provisions in bilateral tax agreements and the existing Union Arbitration Convention. Therefore, the Commission should clarify those relations so that taxpayers can, if applicable, choose the procedure best fit for purpose.
Amendment 77 #
2016/0338(CNS)
Proposal for a directive
Recital 7 c (new)
Recital 7 c (new)
(7 c) A large number of double taxation cases involve third countries. Therefore, the Commission should strive to create a global framework, preferably within the context of the OECD. Until such OECD framework has been realised, the Commission should aim for a mandatory, instead of the current voluntary, and binding agreement procedure for all cases of potential cross- border double taxation.
Amendment 203 #
2016/0288(COD)
Proposal for a directive
Recital 61
Recital 61
(61) In the case of specific and well defined digital exclusion areas, national regulatory authorities should have the possibility to organise a call for declarations of interest with the aim of identifying undertakings that are willing to invest in very high capacity networks. In the interests of predictable investment conditions, national regulatory authorities should be able to share information with undertakings expressing interest in deploying very high-speed networks on whether other types of network upgrades, including those below 100 Mbps download speed, are present or foreseen in the area in question. Taking into account the high potential of satellite technologies in bringing connectivity to digital exclusion areas in a cost-efficient manner, national regulatory authorities should inform satellite operators about such calls as well, in order to promote the use of the best technologies based on regional specificities.
Amendment 217 #
2016/0288(COD)
(103) Ensuring ubiquitous connectivity in each Member State is essential for economic and social development, participation in public life and social and territorial cohesion. As connectivity becomes an integral element to European society and welfare, EU-wide coverage should be achieved by relying on imposition by Member States of appropriate coverage requirements, which should be adapted to each area served and limited to proportionate burdens in order not to hinder deployment by service providers. Coverage of the territory as well as connectivity across Member States should be maximised and reliable, with a view to promote in-border and cross-border services and applications such as connected cars and e-health. Therefore, in order to increase regulatory certainty and predictability of investment needs and to guarantee proportionate and equitable connectivity for all citizens, application by competent authorities of coverage obligations should be coordinated at Union level. Considering national specificities, such coordination should be limited to general criteria to be used to define and measure coverage obligations, such as population density or topographical and topological features, while taking into account the principle of technology neutrality, in order to stimulate a combination of the best technologies per region.
Amendment 224 #
2016/0288(COD)
Proposal for a directive
Recital 113
Recital 113
(113) With growing spectrum demand and new varying applications and technologies which necessitate more flexible access and use of spectrum, Member States should promote the shared use of spectrum by determining the most appropriate authorisation regimes for each scenario and by defining appropriate and transparent rules and conditions therefor. In this process, Member States should guarantee the unhampered continuation of existing services making use of spectrum, such as satellite connectivity of different nature, notably communication, earth observation and geo-navigation. Shared use of spectrum increasingly ensures its effective and efficient use by allowing several independent users or devices to access the same frequency band under various types of legal regimes so as to make additional spectrum resources available, raise usage efficiency and facilitate spectrum access for new users. Shared use can be based on general authorisations or licence-exempt use allowing, under specific sharing conditions, several users to access and use the same spectrum in different geographic areas or at different moments in time. It can also be based on individual rights of use under arrangements such as licenced shared access where all users (with an existing user and new users) agree on the terms and conditions for shared access, under the supervision of the competent authorities, in such a way as to ensure a minimum guaranteed radio transmission quality. When allowing shared use under different authorisation regimes, Member States should not set widely diverging durations for such use under different authorisation regimes.
Amendment 487 #
2016/0288(COD)
Proposal for a directive
Article 22 – paragraph 4
Article 22 – paragraph 4
4. When national regulatory authorities take measures pursuant to paragraph 3, they shall do so according to an efficient, objective, transparent, technology neutral and non- discriminatory procedure, whereby no undertaking is a priori excluded. Failure to provide information pursuant to paragraph 1(b) or to respond to the call for interest pursuant to paragraph 3 may be considered as misleading information pursuant to Articles 20 or 21.
Amendment 624 #
2016/0288(COD)
Proposal for a directive
Article 46 – paragraph 1 – subparagraph 1
Article 46 – paragraph 1 – subparagraph 1
Member States shall facilitate the use of radio spectrum, including shared use, under general authorisations and limit the granting of individual rights of use for radio spectrum to situations where such rights are necessary to maximise efficient use in the light of demand and, taking into account the criteria set out in the second subparagraph and the continuity of existing services relying on the same radio spectrum. In all other cases, they shall set out the conditions for the use of radio spectrum in a general authorisation.
Amendment 641 #
2016/0288(COD)
Proposal for a directive
Article 46 – paragraph 1 – subparagraph 3 – indent 2
Article 46 – paragraph 1 – subparagraph 3 – indent 2
- to prevent impediments caused by alternative users, for example to services already licensed to operate use the spectrum band;
Amendment 644 #
2016/0288(COD)
Proposal for a directive
Article 46 – paragraph 1 – subparagraph 3 – indent 4
Article 46 – paragraph 1 – subparagraph 3 – indent 4
- where that principle still applies, to protect against in-band and out-of-band interference.
Amendment 64 #
2016/0280(COD)
Proposal for a directive
Recital 31
Recital 31
(31) A free and pluralist press is essential to ensure quality journalism and citizens' access to information. It provides a fundamental contribution to public debate and the proper functioning of a democratic society. In the transition from print to digital, publishers of press publications are facing problems in licensing the online use of their publications and recouping their investments. In the absence of recognition of publishers of press publications as rightholders, lLicensing and enforcement in the digital environment is often complex and inefficient.
Amendment 67 #
2016/0280(COD)
Proposal for a directive
Recital 32
Recital 32
(32) The organisational and financial contribution of publishers in producing press publications needs to be recognised and further encouraged to ensure the sustainability of the publishing industry. It is therefore necessary to provide at Union level a harmonised legal protection for press publications in respect of digital uses. Such protection should be effectively guaranteed through the introduction, in Union law, of rights related to copyright for the reproduction and making available to the public of press publications in respect of digital uses.
Amendment 68 #
2016/0280(COD)
Proposal for a directive
Recital 33
Recital 33
Amendment 74 #
2016/0280(COD)
Proposal for a directive
Recital 34
Recital 34
Amendment 80 #
2016/0280(COD)
Proposal for a directive
Recital 35
Recital 35
Amendment 80 #
2016/0280(COD)
Proposal for a directive
Recital 5
Recital 5
(5) In the fields of research, education and preservation of cultural heritage, digital technologies permit new types of uses that are not clearly covered by the current Union rules on exceptions and limitations. In addition, the optional nature of exceptions and limitations provided for in Directives 2001/29/EC, 96/9/EC and 2009/24/EC in these fields may negatively impact the functioning of the internal market. This is particularly relevant as regards cross-border uses, which are becoming increasingly important in the digital environment. Therefore, the existing exceptions and limitations in Union law that are relevant for scientific research, teaching and preservation of cultural heritage should be reassessed in the light of those new uses. Mandatory exceptions or limitations for uses of text and data mining technologies in the field of scientific research, illustration for teaching in the digital environment, illustration for teaching and for preservation of cultural heritage should be introduced. For uses not covered by the exceptions or the limitation provided for in this Directive, the exceptions and limitations existing in Union law should continue to apply. Directives 96/9/EC and 2001/29/EC should be adapted.
Amendment 90 #
2016/0280(COD)
Proposal for a directive
Recital 8
Recital 8
(8) New technologies enable the automated computational analysis of information in digital form, such as text, sounds, images or any other type of data, generally known as text and data mining. Those technologies allow researchers tothe processing of large amounts of information to gain new knowledge and discover new trends. Whilst text and data mining technologies are prevalent across the digital economy, there is widespread acknowledgment that text and data mining can in particular benefit the research community and in so doing encourage innovation. However, in the Union, research organisations such as universities and research institutesindividuals, public and private entities who have legal access to content are confronted with legal uncertainty as to the extent to which they can perform text and data mining of content. In certain instances, text and data mining may involve acts protected by copyright and/or by the sui generis database right, notably the reproduction of works or other subject- matter and/or the extraction of contents from a database. Where there is no exception or limitation which applies, an authorisation to undertake such acts would be required from rightholders. Text and data mining may also be carried out in relation to mere facts or data which are not protected by copyright and in such instances no authorisation would be required. The right to read is the right to mine.
Amendment 96 #
2016/0280(COD)
Proposal for a directive
Recital 38 – paragraph 1
Recital 38 – paragraph 1
Where an information society service is providers store and provide access to the public to copyright protected works or other subject-matter uploaded by their users, thereby going beyond the mere provision of physical facilities and performing an ad that consists of the storage of information provided by a recipient of the service and providers of the service enable users to upload works in such as a way as to make them available to the public and obtains knowledge after receiving notification by the rightholders that the work is used in an unauthorised manner and subject tof communication to the public, they are obliged to conclude licensing agreements with rightholders, unless they arpyright and related rights, they are obliged to take that content down in order to be eligible for the liability exemption provided in Article 14 of Directive 2000/31/EC of the European Parliament and of the Council34 . _________________ 34Directive 2000/31/EC of the European Parliament and of the Council of 8 June 2000 on certain legal aspects of information society services, in particular electronic commerce, in the Internal Market (OJ L 178, 17.7.2000, p. 1–16). However, it is in the interests of all parties involved that the content remain online. Therefore, the possibility of concluding a licensing agreement between rightholders and the service providers on fair and reasonable terms for that purpose should be enabled. In order to ensure that notifications of works subject to copyright and related rights are valid, rightholders should provide service providers with an accurate identification of both the protected works and the uploaded content deemed to be unauthorised, including its exact location. To prevent misuses or abuses of notifications, and protect freedom of information and expression and the limitations and exceptions to copyright law, users should have access to redress and complaint mechanisms.
Amendment 96 #
2016/0280(COD)
Proposal for a directive
Recital 9
Recital 9
(9) Union law already provides certain exceptions and limitations covering uses for scientific research purposes which may apply to acts of text and data mining. However, those exceptions and limitations are optional and not fully adapted to the use of technologies in scientific research. Moreover, where researchers have lawful access to content, for example through subscriptions to publications or open access licences, the terms of the licences may exclude text and data mining. As research and its Open Science Agenda is increasingly carried out with the assistance of digital technology, there is a risk that the Union's competitive position as a research area will suffer unless steps are taken to address the legal uncertainty for text and data mining.
Amendment 102 #
2016/0280(COD)
Amendment 108 #
2016/0280(COD)
Proposal for a directive
Recital 38 – paragraph 3
Recital 38 – paragraph 3
Amendment 119 #
2016/0280(COD)
Proposal for a directive
Recital 39
Recital 39
(39) Collaboration between information society service providers storing and providing access to the public to large amounts of copyright protected works or other subject-matter uploaded by their users and rightholders is essential for the funand rightholders is essential to facilitate the accurate identification of unauthorised works online. Appropriate safeguards should however be put in place where they agree on the introductioning of technologies, such as content recognition technologies. In such cases, rightholders should provide the necessary data to allowvoluntary measures to ensure that the services to identify their content and the services should be transparent towards rightholders with regard to the deployed technologies, to allow the assessment of their appropriateness. The services should in particular provide rightholders with information on the type of technologies used, the way they are operated and their success rate for the recognition of rightholders' content. Those technologies should also allow rightholders to get information from the information society service providers on the use of their content covered by an agreemen do not infringe the fundamental rights of users, namely their right to protection of their personal data and their freedom to receive or impart information, in accordance with Articles 8 and 11 of the Charter of Fundamental rights of the European Union in particular their rights to the use of works made in accordance with an exception or limitation to copyright.
Amendment 121 #
2016/0280(COD)
Proposal for a directive
Recital 14
Recital 14
(14) Article 5(3)(a) of Directive 2001/29/EC allows Member States to introduce an exception or limitation to the rights of reproduction, communication to the public and making available to the public for the sole purpose of, among others, illustration for teaching. In addition, Articles 6(2)(b) and 9(b) of Directive 96/9/EC permit the use of a database and the extraction or re-utilization of a substantial part of its contents for the purpose of illustration for teaching. The scope of those exceptions or limitations as they apply to digital uses is unclear. In addition, there is a lack of clarity as to whether those exceptions or limitations would apply where teaching is provided online and thereby at a distance. Moreover, the existing framework does not provide for a cross-border effect. This situation may hamper the development of digitally- supported teaching activities and distance learning. Therefore, the introduction of a new mandatory exception or limitation is necessary to ensure that educational establishments benefit from full legal certainty when using works or other subject-matter in digital teaching activities, including online and across borders.
Amendment 124 #
2016/0280(COD)
Proposal for a directive
Recital 15
Recital 15
(15) While distance learning and cross- border education programmes are mostly developed at higher education level, digital tools and resources are increasingly used at all education levels, in particular to improve and enrich the learning experience. The exception or limitation provided for in this Directive should therefore benefit all educational establishments in primary, secondary, vocational and higher education to the extent they pursue their educational activity for a non-commercial purpose. Tactivities for non-commercial purposes. However in order to ensure that the organisational structure and the means of funding of an educational establishment are not the decisive factorsfactors taken into account to determine the non- commercial nature of the activity, the exception or limitation should not be limited to educational establishments.
Amendment 129 #
2016/0280(COD)
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
2. Except in the cases referred to in Article 6, this Directive shall leave intact and shall in no way affect existing rules laid down in the Directives currently in force in this area, in particular Directives 96/9/EC, 2000/31/EC, 2001/29/EC, 2006/115/EC, 2009/24/EC, 2012/28/EU and 2014/26/EU.
Amendment 173 #
2016/0280(COD)
Proposal for a directive
Recital 31
Recital 31
(31) A free and pluralist press is essential to ensure quality journalism and citizens' access to information. It provides a fundamental contribution to public debate and the proper functioning of a democratic society. In the transition from print to digital, publishers of press publications are facing problems in licensing the online use of their publications and recouping their investments. In the absence of recognition of publishers of press publications as rightholders, lLicensing and enforcement in the digital environment is often complex and inefficient.
Amendment 181 #
2016/0280(COD)
Proposal for a directive
Recital 32
Recital 32
(32) The organisational and financial contribution of publishers in producing press publications needs to be recognised and further encouraged to ensure the sustainability of the publishing industry. It is therefore necessary to provide at Union level a harmonised legal protection for press publications in respect of digital uses. Such protection should be effectively guaranteed through the introduction, in Union law, of rights related to copyright for the reproduction and making available to the public of press publications in respect of digital uses.
Amendment 186 #
2016/0280(COD)
Proposal for a directive
Recital 33
Recital 33
Amendment 188 #
2016/0280(COD)
Proposal for a directive
Article 11
Article 11
Amendment 200 #
2016/0280(COD)
Proposal for a directive
Recital 34
Recital 34
Amendment 203 #
2016/0280(COD)
Proposal for a directive
Chapter 4 – title
Chapter 4 – title
Certain uses of protected content by the users of online services
Amendment 206 #
2016/0280(COD)
Proposal for a directive
Article 13 – title
Article 13 – title
Use of protected content by users of certain information society service providers storing and giving access to large amounts of works and other subject-matter uploaded by their users
Amendment 207 #
2016/0280(COD)
Proposal for a directive
Recital 35
Recital 35
Amendment 212 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Information society service providers that store and provide to the public access to large amouinformation provided by a recipients of works or other subject-matter uploaded by their users shall, in cooperation with rightholders, take measures to ensure the functioning of agreements concluded with rightholders for the use of their works or other subject-matter or to prevent the availability on ervice and enable users to upload works in such a way as to make them available to the public shall, upon obtaining knowledge or awareness that an uploaded work subject to copyright and otheir services of works or other subject-matter identified by rightholders through the cooperation with the service providers. Those measures, such as the use of effective content recognition technologies, shall be appropriate and proportionate. The service providers shall provide rightholders with adequate information on the functioning and the deployment of the measures, as well as, when relevant, adequate reporting on the recognition and use of the works and other subject-matterrelated rights is used in an unauthorised manner, act expeditiously to remove or to disable access to the content, except where service providers conclude a licensing agreement with rightholders enabling the content to remain available.
Amendment 217 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1 a. In order to be valid, the notification of an unauthorised protected content shall include, in particular, the identification by the rightholder of the work subject to copyright and related rights claimed to have been infringed and the identification of the uploaded work, including its exact location, that is considered to be using work subject to copyright and related rights.
Amendment 221 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
2. Member States shall ensure that the service providers referred to in paragraph 1 put in place complaints and redress mechanisms that are available to users in case of disputes over the application of the measures referred to in paragraph 1. These mechanisms shall in particular ensure that where the removal of the content referred to in paragraph 1 is not justified, the content in question shall be reinstated online within a reasonable time. As a last resort, Member States shall ensure the possibility of judicial redress.
Amendment 223 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 2 a (new)
Article 13 – paragraph 2 a (new)
2 a. In order to ensure uniform protection of users and rightholders across the Union, the European Commission shall develop guidelines on the conditions that need to be met for the validity of the notification referred to in paragraph 1a and for the complaint and redress mechanisms referred to in paragraph 2.
Amendment 227 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. The Commission, in cooperation with Member States shall facilitate, where appropriate, the cooperation between the information society service providers referred to in paragraph 1, users and rightholders through stakeholder dialogues to define best practices, such as appropriate and proportionate content recognition technologies, taking into account, am for the implementationg others, the nature of the services, the availability of the technologies and their effectiveness in light of technological developmentsf paragraph 1.
Amendment 230 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3 a. Member States shall ensure that where service providers take voluntary measures, these measures do not infringe the fundamental rights of users, namely their right to protection of their personal data and their freedom to receive or impart information, in accordance with Articles 8 and 11 of the Charter of Fundamental Rights of the European Union, in particular their rights to the use of works made within an exception or limitation to copyright.
Amendment 231 #
2016/0280(COD)
Proposal for a directive
Recital 38 – paragraph 1
Recital 38 – paragraph 1
Where an information society service is providers store and provide access to the public to copyright protected works or other subject-matter uploaded by their users, thereby going beyond the mere provision of physical facilities and performing an act of communication to the public, they ared that consists of the storage of information provided by a recipient of the service and providers of the service enable users to upload works in such as a way as to make them available to the public and obtains knowledge after receiving notification by the rightholders that the work is used in an unauthorised manner and subject to copyright and related rights , they are obliged take that content down in order to be eligible for the liability exemption provided in Article 14 of Directive 2000/31/EC of the European Parliament and of the Council34. However, it is in the interests of all parties involved that the content remain obnliged tone. Therefore, the possibility of concludeing a licensing agreements with between rightholders, unless they are eligible for the liability exemption provided in Article 14 of Directive 2000/31/EC of the European Parliament and of the Council34 and the service providers on fair and reasonable terms for that purpose should be enabled. In order to ensure that notifications of works subject to copyright and related rights are valid, rightholders should provide service providers with an accurate identification of both the protected works and the uploaded content deemed to be unauthorised, including its exact location. To prevent misuses or abuses of notifications, and protect freedom of information and expression and the limitations and exceptions to copyright law, users should have access to redress and complaint mechanisms. _________________ 34 Directive 2000/31/EC of the European Parliament and of the Council of 8 June 2000 on certain legal aspects of information society services, in particular electronic commerce, in the Internal Market (OJ L 178, 17.7.2000, p. 1–16).
Amendment 250 #
2016/0280(COD)
Proposal for a directive
Recital 38 – paragraph 2
Recital 38 – paragraph 2
Amendment 258 #
2016/0280(COD)
Proposal for a directive
Article 18 – paragraph 2
Article 18 – paragraph 2
Amendment 258 #
2016/0280(COD)
Proposal for a directive
Recital 38 – paragraph 3
Recital 38 – paragraph 3
Amendment 272 #
2016/0280(COD)
Proposal for a directive
Recital 39
Recital 39
(39) Collaboration between information society service providers storing and providing access to the public to large amounts of copyright protected works or other subject-matter uploaded by their users and rightholders is essential for the funand rightholders is essential to facilitate the accurate identification of unauthorised works online. Appropriate safeguards should however be put in place where they agree on the introductioning of technologies, such as content recognition technologies. In such cases, rightholders should provide the necessary data to allowvoluntary measures to ensure that the services to identify their content and the services should be transparent towards rightholders with regard to the deployed technologies, to allow the assessment of their appropriateness. The services should in particular provide rightholders with information on the type of technologies used, the way they are operated and their success rate for the recognition of rightholders' content. Those technologies should also allow rightholders to get information from the information society service providers on the use of their content covered by an agreemen do not infringe the fundamental rights of users, namely their right to protection of their personal data and their freedom to receive or impart information, in accordance with Articles 8 and 11 of the Charter of Fundamental rights of the European Union in particular their rights to the use of works made in accordance with an exception or limitation to copyright.
Amendment 304 #
2016/0280(COD)
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
2. Except in the cases referred to in Article 6, this Directive shall leave intact and shall in no way affect existing rules laid down in the Directives currently in force in this area, in particular Directives 96/9/EC, 2000/31/EC, 2001/29/EC, 2006/115/EC, 2009/24/EC, 2012/28/EU and 2014/26/EU.
Amendment 310 #
2016/0280(COD)
Proposal for a directive
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
(2a) 'beneficiary' means any individual or entity, public or private, with lawful access to content ;
Amendment 338 #
2016/0280(COD)
Proposal for a directive
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission, in cooperation with Member States, shall encourage rightholders and research organisations to define commonly-agreed best practices concerning the application of the measures referred to in paragraph 3.
Amendment 342 #
2016/0280(COD)
Proposal for a directive
Article 4 – title
Article 4 – title
Use of works and other subject-matter in digital and cross-border teachingeducational activities
Amendment 344 #
2016/0280(COD)
Proposal for a directive
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. Member States shall provide for an exception or limitation to the rights provided for in Articles 2 and 3 of Directive 2001/29/EC, Articles 5(a) and 7(1) of Directive 96/9/EC, Article 4(1) of Directive 2009/24/EC and Article 11(1) of this Directive in order to allow for the digital use of works and other subject- matter for the sole purpose of illustration for teaching, learning and scientific research to the extent justified by the non-commercial purpose to be achieved, provided that the use:
Amendment 351 #
2016/0280(COD)
Proposal for a directive
Article 4 – paragraph 1 – point a
Article 4 – paragraph 1 – point a
Amendment 367 #
2016/0280(COD)
Proposal for a directive
Article 4 – paragraph 3
Article 4 – paragraph 3
3. The use of works and other subject- matter for the sole purpose of illustration for teaching through secure electronic networks undertaken in compliance with the provisions of national law adopted pursuant to this Article shall be deemed to occur solely in the Member State where the educational establishment is establishedonly be accessible to the beneficiaries of this exception or limitation.
Amendment 373 #
2016/0280(COD)
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States may provide for fair compensation for the harm incurred by theany unreasonable actions contrary to the legitimate interests of rightholders duein relation to the use of their works or other subject-matter pursuant to paragraph 1 of this Article and Article 5(5) of Directive 2001/29/EC.
Amendment 417 #
2016/0280(COD)
Proposal for a directive
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Member States shall ensure that information that allows the identification of the works or other subject-matter covered by a licence granted in accordance with Article 7 and information about the possibility of rightholders to object referred to in Article 7(1)(c) are made publicly accessible in a single online portal for at least six months before the works or other subject-matter are digitised, distributed, communicated to the public or made available in Member States other than the one where the licence is granted, and for the whole duration of the licence.
Amendment 422 #
2016/0280(COD)
Proposal for a directive
Article 11
Article 11
Amendment 448 #
2016/0280(COD)
Proposal for a directive
Chapter 4 – title
Chapter 4 – title
Certain uses of protected content by the users of online services
Amendment 455 #
2016/0280(COD)
Proposal for a directive
Article 13 – title
Article 13 – title
Use of protected content by users of certain information society service providers storing and giving access to large amounts of works and other subject-matter uploaded by their users
Amendment 462 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Information society service providers that store and provide to the public access to large amouinformation provided by a recipients of works or other subject-matter uploaded by their users shall, in cooperation with rightholders, take measures to ensure the functioning of agreements concluded with rightholders for the use of their works or other subject-matter or to prevent the availability on ervice and enable users to upload works in such a way as to make them available to the public shall, upon obtaining knowledge or awareness that an uploaded work subject to copyright and otheir services of works or other subject-matter identified by rightholders through the cooperation with the service providers. Those measures, such as the use of effective content recognition technologies, shall be appropriate and proportionate. The service providers shall provide rightholders with adequate information on the functioning and the deployment of the measures, as well as, when relevant, adequate reporting on the recognition and use of the works and other subject-matterrelated rights is used in an unauthorised manner, act expeditiously to remove or to disable access to the content, except where service providers conclude a licensing agreement with rightholders enabling the content to remain available.
Amendment 484 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1a. In order to be valid, the notification of an unauthorised protected content shall include, in particular, the identification by the rightholder of the work subject to copyright and related rights claimed to have been infringed and the identification of the uploaded work, including its exact location, that is considered to be using work subject to copyright and related rights.
Amendment 493 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
2. Member States shall ensure that the service providers referred to in paragraph 1 put in place complaints and redress mechanisms that are available to users in case of disputes over the application of the measures referred to in paragraph 1. These mechanisms shall in particular ensure that where the removal of the content referred to in paragraph 1 is not justified, the content in question shall be reinstated online within a reasonable time. As a last resort, Member States shall ensure the possibility of judicial redress.
Amendment 496 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 2 a (new)
Article 13 – paragraph 2 a (new)
2a. In order to ensure uniform protection of users and rightholders across the Union, the Commission shall develop guidelines on the conditions that need to be met for the validity of the notification referred to in paragraph 1a and for the complaint and redress mechanisms referred to in paragraph 2.
Amendment 500 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. The Commission, in cooperation with Member States shall facilitate, where appropriate, the cooperation between the information society service providers referred to in paragraph 1, users and rightholders through stakeholder dialogues to define best practices, such as appropriate and proportionate content recognition technologies, taking into account, am for the implementationg others, the nature of the services, the availability of the technologies and their effectiveness in light of technological developmentsf paragraph 1.
Amendment 505 #
2016/0280(COD)
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3a. Member States shall ensure that where service providers take voluntary measures, these measures do not infringe the fundamental rights of users, namely their right to protection of their personal data and their freedom to receive or impart information, in accordance with Articles 8 and 11 of the Charter of Fundamental Rights of the European Union, in particular their rights to the use of works made within an exception or limitation to copyright.
Amendment 509 #
2016/0280(COD)
Proposal for a directive
Article 13 a (new)
Article 13 a (new)
Article 13a User generated content Member States shall provide for an exception or limitation to the rights provided for in Articles 2 and 3 of Directive 2001/29/EC, point (a) of Article 5 and Article 7(1) of Directive 96/9/EC, point (a) of Article 4(1) of Directive 2009/24/EC and Article 13 of this Directive in order to allow for the digital use of quotations or extracts of works and other subject-matter comprised within user-generated content for purposes such as but not limited to criticism, review, entertainment, illustration, caricature, parody or pastiche, provided that the quotations or extracts: (a) relate to works or other subject- matter that have already been lawfully made available to the public; (b) are accompanied by the indication of the source, including the author's name, unless this turns out to be impossible; and (c) are used in accordance with fair practice and in a manner that does not extend beyond the specific purpose for which they are being used.
Amendment 573 #
2016/0280(COD)
Proposal for a directive
Article 18 – paragraph 2
Article 18 – paragraph 2
Amendment 144 #
2016/0221(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) No 345/2013
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
(2a) In Article 10, the following paragraph is added: "2a. Where the value of the qualifying venture capital funds managed by the manager of qualifying venture capital funds is below EUR 250 000 000, own fund requirements shall represent one tenth of the preceding year's fixed overheads of the same manager;"
Amendment 223 #
2016/0221(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
Regulation (EU) No 346/2013
Article 11 – paragraph 2a (new)
Article 11 – paragraph 2a (new)
(2a) In Article 11, the following paragraph is added: "Where the value of the qualifying social entrepreneurship funds managed by the manager of qualifying social entrepreneurship funds is below EUR 250 000 000, own fund requirements shall represent one tenth of the preceding year's fixed overheads of the same manager."
Amendment 26 #
2016/0209(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) It is therefore necessary to ensure the access by the tax authorities to the AML information, procedures, documents and mechanisms for the performance of their duties in monitoring the proper application of Directive 2011/16/EU and to include this information, when relevant, in the automatic exchanges between Member States, and with the Commission, on a confidential basis.
Amendment 32 #
2016/0209(CNS)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In addition, it is important that tax authorities have adequate information and communications technology (ICT) systems in place that can trace money- laundering activities at an early stage. In that respect, tax authorities should have adequate ICT and staff resources that can cope with the large amount of AML information to be exchanged between Member States.
Amendment 37 #
2016/0209(CNS)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
(4b) Given the global character of anti- money laundering activities, international cooperation is key to an effective and efficient fight against such activities.
Amendment 38 #
2016/0209(CNS)
Proposal for a directive
Recital 4 c (new)
Recital 4 c (new)
(4c) The mandatory automatic exchange of AML information between the tax authorities of Member States should be based on the principle of reciprocity.
Amendment 41 #
2016/0209(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
Directive 2011/16/EU
Article 2 – paragraph 1
Article 2 – paragraph 1
1. This Directive shall apply to all taxes of any kind levied by, or on behalf of, a Member State or the Member State’s territorial or administrative subdivisions, including the local authorities, as well as to virtual currency exchange services and custodial wallet providers.
Amendment 44 #
2016/0209(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
The following article is inserted: “Article 8a The tax authorities of a Member State shall, within six months of their collection, automatically exchange the documents and information referred to in Article 22 of this Directive with any other Member State, and with the Commission on a confidential basis, if the beneficial owner of a firm, or, in the case of a trust, the settler, one of the trustees, the protector (where applicable), a beneficiary or any other person exercising genuine control over the trust, or, lastly, the holder of an account referred to in Article 32a of Directive (EU) 2015/849 is a taxpayer in that Member State.”
Amendment 66 #
2016/0208(COD)
Proposal for a directive
Recital 10
Recital 10
(10) Given the evolving nature of ML/TF threats and vulnerabilities, the Union should adopt an integrated approach on the compliance of national AML/CFT regimes with the requirements at Union level, by taking into consideration an effectiveness assessment of those national regimes. For the purpose of monitoring the correct transposition of the Union requirements in the national regimes, their effective implementation and their capacity to accomplish a strong preventive regime in the field, the Commission should base its assessment on the national risk regimes, which shall be without be without prejudice to those conducted by international organisations and standards setters with competence in the field of preventing money laundering and combating terrorist financing, such as the FATF or Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL). There should be sufficient flexibility for the Member States in the transposition process of this Directive, especially if there is a connection with criminal law and investigation issues for which the Member States themselves are primarily responsible. Furthermore, differences between the FATF recommendations and EU legislation should be avoided with regard to the necessity of a global level playing field.
Amendment 86 #
2016/0208(COD)
Proposal for a directive
Recital 17
Recital 17
(17) Accurate identification and verification of data of natural and legal persons is essential for fighting money laundering or terrorist financing. Latest technical developments in the digitalisation of transactions and payments enable a secure remote or electronic identification. Those means of identification as set out in Regulation (EU) No 910/2014 of the European Parliament and of the Council27 or alternative remote identification techniques subject to the approval of the competent authorities, should be taken into account, in particular with regard to notified electronic identification schemes and means that offer high level secure tools and provide a benchmark against which assessing the identification methods set up at national level may be checked. Therefore, it is essential to recognise secure electronic copies of original documents as well as electronic assertions, attestations or credentials as valid means of identity. The principle of technology neutrality should be taken into account in the application of this Directive. __________________ 27 Regulation (EU) No 910/2014 of the European Parliament and the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73).
Amendment 214 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2015/849/EU
Article 13 – paragraph 1 – point a
Article 13 – paragraph 1 – point a
Amendment 253 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2015/849/EU
Article 27 – paragraph 2
Article 27 – paragraph 2
2. Member States shall ensure that obliged entities to which the customer is referred take adequate steps to ensure that the third party provides immediately, upon request, relevant copies of identification and verification data, including, where available, data obtained through electronic identification means as set out in Regulation (EU) No 910/2014 or alternative remote identification techniques subject to the approval of the competent authorities, and other relevant documentation on the identity of the customer or the beneficial owner.;
Amendment 382 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point a
Article 1 – paragraph 1 – point 15 – point a
Directive 2015/849/EU
Article 40 – paragraph 1 – point a
Article 40 – paragraph 1 – point a
(a) in the case of customer due diligence, a copy of the documents and information which are necessary to comply with the customer due diligence requirements laid down in Chapter II, including, where available, information obtained through electronic identification means as set out in Regulation (EU) No 910/2014 or alternative remote identification techniques subject to the approval of the competent authorities, for a period of five years after the end of the business relationship with their customer or after the date of an occasional transaction;
Amendment 383 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point a
Article 1 – paragraph 1 – point 15 – point a
Directive 2015/849/EU
Article 40 – paragraph 1 – point b
Article 40 – paragraph 1 – point b
(b) the supporting evidence and records of transactions, consisting of the original documents or copies admissible in judicial proceedings under the applicable national law, including, where available, information obtained through electronic identification means as set out in Regulation (EU) No 910/2014 or alternative remote identification techniques subject to the approval of the competent authorities, which are necessary to identify transactions, for a period of five years after the end of a business relationship with their customer or after the date of an occasional transaction.;
Amendment 430 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 25
Article 1 – paragraph 1 – point 25
Directive 2015/849/EU
Annex III – point 2 – point c
Annex III – point 2 – point c
(c) non-face-to-face business relationships or transactions, without certain safeguards, such as electronic identification means or relevant trust services as defined in Regulation (EU) 910/2014 or alternative remote identification techniques subject to the approval of the competent authorities;
Amendment 93 #
2016/0185(COD)
Proposal for a regulation
Article 1 – point 4
Article 1 – point 4
Regulation (EU) No 531/2012
Article 12 – paragraph 1
Article 12 – paragraph 1
1. With effect from 15 June 2017, the average wholesale charge that the visited network operator may levy on the roaming provider for the provision of regulated data roaming services by means of that visited network shall not exceed a safeguard limit of EUR 0.0085 per megigabyte of data transmitted and shall, without prejudice to Article 19,. The safeguard limit shall, on 1 July 2018, decrease to EUR 4 per gigabyte of data transmitted, on 1 July 2019 to EUR 3 per gigabyte of data transmitted, and, without prejudice to Article 19, on 1 July 2020, to EUR 2 per gigabyte of data transmitted, and on 1 July 2021, to EUR 1 per gigabyte of data transmitted. It shall remain at EUR 0.00851 per megigabyte of data transmitted until 30 June 2022.
Amendment 12 #
2016/0110(COD)
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) EFRAG's field of activity is currently limited to that which is described in the special advisor's report and, considering that multiple additional tasks and responsibilities that have been attributed to EFRAG in the European Parliament's resolution of 7 June 2016, EFRAG should ensure that those additional tasks and responsibilities are to be actively monitored and reported upon.
Amendment 41 #
2016/0107(COD)
Proposal for a directive
Recital 1
Recital 1
(1) In recent years, the challenge posed by corporate income tax avoidance has increased considerably and has become a major focus of concern within the Union and globally. The European Council in its conclusions of 18 December 2014 acknowledged the urgent need to advance efforts in the fight against tax avoidance both at global and Union level. The Commission in its communications entitled ‘Commission Work Programme 2016 - No time for business as usual’16 and ‘Commission Work Programme 2015 - A New Start’17 identified as a priority the need to move to a system whereby the country in which profits are generated is also the country of taxation. In order to ensure a global level playing field, European 'goldplating' should be avoided. The Commission also identified as a priority the need to respond to our societies’ call for fairness and tax transparency. __________________ 16 COM(2015) 610 final of 27 October 2015. 17 COM(2014) 910 final of 16 December 2014.
Amendment 49 #
2016/0107(COD)
Proposal for a directive
Recital 2
Recital 2
(2) The European Parliament in its resolution of 16 December 2015 on bringing transparency, coordination and convergence to corporate tax policies in the Union18 acknowledged that increased transparency in the area of corporate taxation can improve tax collection, make the work of tax authorities more efficient and, ensure increased public trust and confidence in tax systems and governments and improve investment decision-making based on more accurate risk profiles of companies. __________________ 18 2015/2010(INL)
Amendment 73 #
2016/0107(COD)
Proposal for a directive
Recital 5
Recital 5
(5) Enhanced transparency and public scrutiny of corporate income taxes borne by multinational undertakings carrying out activities in the Union is an essential element to further foster corporate responsibility, to contribute to the welfare through taxes, to promote fairer tax competition within the Union through a better informed public debate and to restore public trust in the fairness of the national tax systems. Such public scrutiny can be achieved by means of a report on income tax information, irrespective of where the ultimate parent undertaking of the multinational group is established.
Amendment 94 #
2016/0107(COD)
Proposal for a directive
Recital 9
Recital 9
(9) In order to ensure a level of detail that enables citizens to better assess the contribution of multinational undertakings to welfare in each Member State, theonly key information, which does not act as an obstacle towards the undertaking's competitiveness, should be broken down by Member State. Moreover, information concerning the operations of multinational enterprises should also be shown with a high level of detail as regards certain tax jurisdictions which pose particular challenges. For all other third country operations, the information should be given in an aggregate number. in order to ensure the proportionality of this proposal and its reasonable feasibility.
Amendment 99 #
2016/0107(COD)
Proposal for a directive
Recital 11
Recital 11
(11) To ensure that cases of non- compliance are disclosed to the public, statutory auditor(s) or audit firm(s) should check whether the report on income tax information has been submitted and presented in accordance with the requirements of this Directive and made accessible on the relevant undertaking’s website or on the website of an affiliated undertaking. Cases of infringements by undertakings and branches to the reporting on income tax information, giving rise to penalties by Member States, in conformity with Article 51 of Directive 2013/34/EU, should be reported in a public registry managed by the European Commission.
Amendment 221 #
2016/0107(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 c – paragraph 3 a (new)
Chapter 10 a – Article 48 c – paragraph 3 a (new)
3a. Member States shall not require any branch or subsidiary company controlled by an ultimate parent company subject to the law of a tax jurisdiction of a third country to disclose information under this article if: (i) the parent company derives less than 10 per cent of its total consolidated revenue from activities within the EU; and (ii) disclosure of the information would be prejudicial to the commercial position of any of the companies to which it relates.
Amendment 229 #
2016/0107(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 c – paragraph 3 b (new)
Chapter 10 a – Article 48 c – paragraph 3 b (new)
3b. Member States may allow information required to be disclosed pursuant to this Article to be omitted when its nature is such that it would be seriously prejudicial to the commercial position of the undertakings to which it relates, including when only a single affiliated undertaking operates in a tax jurisdiction which is not listed in the common Union list of certain tax jurisdictions drawn up pursuant to Article 48g. Any such omission shall be disclosed in the report, and shall require prior authorisation from the competent authority. Member States shall justify to the Commission their decision to exempt with regard to the disclosure of one or more required items of information.
Amendment 234 #
2016/0107(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Chapter 10 a – Article 48 c – paragraph 5
Chapter 10 a – Article 48 c – paragraph 5
5. The report on income tax information shall be published in a common template available in an open data format and made accessible on the website in at least one of the official languages of the Union. On the same date, the undertaking shall also file the report in a public registry managed by the European Commission.
Amendment 1 #
2016/0034(COD)
Proposal for a regulation
Recital 11a (new)
Recital 11a (new)
(11a) Investment firms often execute, on their own account or on behalf of clients, transactions in derivatives and other financial instruments or assets that comprise a number of interlinked, contingent trades. Such package transactions enable investment firms and their clients to better manage their risks, with the price of each component of the package transaction reflecting the overall risk profile of the package rather than the prevailing market price of each component. Package transactions can take various forms, such as exchange for physicals, trading strategies executed on trading venues, or bespoke package transactions, and it is important to take those specificities into account when calibrating the applicable transparency regime. It is therefore appropriate to specify for the purpose of Regulation (EU) No 600/2014 the specific circumstances in which pre-trade transparency should not apply to package transactions, nor to any individual component of such transactions.
Amendment 3 #
2016/0034(COD)
Proposal for a regulation
Article 1
Article 1
Amendment 2 #
2016/0033(COD)
Proposal for a directive
Article 1 – point -1 (new)
Article 1 – point -1 (new)
Directive 2014/65/EU
Article 2 – paragraph 1 – point d – point ii
Article 2 – paragraph 1 – point d – point ii
(-1) Point (d)(ii) of Article 2(1) is replaced by the following: ‘are either members of or participants in a regulated market or an MTF, on the one hand, or have direct electronic access to a trading venue, on the other hand, and in either case are engaging in a high- frequency algorithmic trading strategy on such a trading venue;’.
Amendment 41 #
2016/0011(CNS)
Draft legislative resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Regrets that the Commission has not implemented a prior impact assessment on the consequences of the proposed Council Directive for the European business climate.
Amendment 46 #
2016/0011(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) The current political priorities in international taxation highlight the need for ensuring that tax is paid where profits and value are generated without hampering the business climate of Member States. It is thus imperative to restore trust in the fairness of tax systems and allow governments to effectively exercise their tax sovereignty. These new political objectives have been translated into concrete action recommendations in the context of the initiative against Base Erosion and Profit Shifting (BEPS) by the Organisation for Economic Cooperation and Development (OECD). In response to the need for fairer taxation, the Commission, in its Communication of 17 June 2015 sets out an Action Plan for Fair and Efficient Corporate Taxation in the European Union3 (the Action Plan). __________________ 3 Communication from the Commission to the European Parliament and the Council on a Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action COM(2015) 302 final of 17 June 2015.
Amendment 81 #
2016/0011(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Given the inherent difficulties in giving credit relief for taxes paid abroad, States tend to increasingly exempt from taxation foreign income in the State of residence. The unintended negative effect of this approach is however that it encourages situations whereby untaxed or low-taxed income enters the internal market and then, circulates – in many cases, untaxed - within the Union, making use of available instruments within the Union law. Switch- over clauses are commonly used against such practices. It is therefore necessary to provide for a switch-over clause which is targeted against some types of foreign income that does not arise from active business, for example, profit distributions, proceeds from the disposal of shares and permanent establishment profits which are tax exempt in the Union and originate in third countries. This income should be taxable in the Union, if it has been taxed below a certain level in the third country. Considering that the switch-over clause does not require control over the low-taxed entity and therefore access to statutory accounts of the entity may be unavailable, the computation of the effective tax rate can be a very complicated exercise. Member States should therefore use the statutory tax rate when applying the switch-over clause. Member States that apply the switch-over clause should give a credit for the tax paid abroad, in order to prevent double taxation.
Amendment 92 #
2016/0011(CNS)
Proposal for a directive
Recital 10
Recital 10
(10) Controlled Foreign Company (CFC) rules have the effect of re-attributing the income of a low-taxed controlled subsidiary to its parent company. Then, the parent company becomes taxable to this attributed income in the State where it is resident for tax purposes. Depending on the policy priorities of that State, CFC rules may target an entire low-taxed subsidiary or be limited to income which has artificially been diverted to the subsidiary. It is desirable to address situations both in third-countries and in the Union. To comply with the fundamental freedoms, the impact of the rules within the Union should be limited to arrangements which result in the artificial shifting of profits out of the Member State of the parent company towards the CFC. In this case, the amounts of income attributed to the parent company should be adjusted by reference to the arm’s length principle, so that the State of the parent company only taxes amounts of CFC income to the extent that they do not comply with this principle. CFC rules should exclude financial undertakings from their scope where those are tax resident in the Union, including permanent establishments of such undertakings situated in the Union. This is because the scope for a legitimate application of CFC rules within the Union should be limited to artificial situations without economic substance, which would imply that the heavily regulated financial and insurance sectors would be unlikely to be captured by those rules. As the proposed CFC rules are narrowly intertwined with the proposed switch-over clause, any overlap should be avoided.
Amendment 164 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 2 – subparagraph 1 a (new)
Article 5 – paragraph 2 – subparagraph 1 a (new)
With regards to the effective implementation of this Article, taxpayers shall be granted a transitional period of one year after the Directive's entry into force.
Amendment 181 #
2016/0011(CNS)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall not exempt a taxpayer from tax on foreign income that does not arise from active business which the taxpayer received as a profit distribution from an entity in a third country or as proceeds from the disposal of shares held in an entity in a third country or as income from a permanent establishment situated in a third country where the entity or the permanent establishment is subject, in the entity’s country of residence or the country in which the permanent establishment is situated, to a tax on profits at a statutory corporate tax rate lower than 40 percent of the statutory tax rate that would have been charged under the applicable corporate tax system in the Member State of the taxpayer. In those circumstances, the taxpayer shall be subject to tax on the foreign income with a deduction of the tax paid in the third country from its tax liability in its state of residence for tax purposes. The deduction shall not exceed the amount of tax, as computed before the deduction, which is attributable to the income that may be taxed.
Amendment 189 #
2016/0011(CNS)
Proposal for a directive
Article 6 – paragraph 2 – subparagraph 1 a (new)
Article 6 – paragraph 2 – subparagraph 1 a (new)
This Article should only be applicable if a prior impact assessment has made clear that there will be no negative consequences for the business climate of Member States.
Amendment 193 #
2016/0011(CNS)
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Where arrangements or a series thereof are ignored in accordance with paragraph 1, the tax liability shall be calculated by reference to economic substance in accordance with the national law of the Member State in which the non-genuine arrangement has been made.
Amendment 201 #
2016/0011(CNS)
Proposal for a directive
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. The tax base of a taxpayer shall include the non-distributed income that does not arise from active business of an entity where the following conditions are met:
Amendment 209 #
2016/0011(CNS)
Proposal for a directive
Article 8 – paragraph 1 – point c
Article 8 – paragraph 1 – point c
Amendment 221 #
2016/0011(CNS)
Proposal for a directive
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
This Article should only be applicable if a prior impact assessment has made clear that there will be no negative consequences for the business climate of Member States.
Amendment 237 #
2016/0011(CNS)
Proposal for a directive
Article 11 a (new)
Article 11 a (new)
Article 11a Impact Assessment The Commission shall implement a proper impact assessment on all future tax proposals that may touch upon national tax sovereignty. The Commission shall then communicate the results of these assessments to the European Parliament and the Member States.
Amendment 7 #
2016/0010(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) In recent years, the challenge posed by tax fraud, tax avoidance and tax evasion has increased considerably and has become a major focus of concern within the Union and at global level. The automatic exchange of information constitutes an important tool in this regard and the Commission in its Communication of 6 December 2012 containing an Action plan to strengthen the fight against tax fraud and tax evasion highlighted the need to promote vigorously the automatic exchange of information as the future European and international standard for transparency and exchange of information in tax matters. The European Council in its conclusions of 22 May 2013 requested the extension of automatic information exchange at Union and global levels with a view to combatting tax fraud, tax evasion and aggressive tax planning.
Amendment 14 #
2016/0010(CNS)
Proposal for a directive
Recital 2
Recital 2
(2) As Multi National Enterprise (MNE) Groups are active in different countries, they have the possibility of engaging in aggressive tax planning practices that are not available for domestic companies. When MNEs do so, purely domestic companies, normusually small and medium- sized enterprises (SMEs) may be particularly affected as their tax burden is higher than that of MNE Groups. That in turn causes distortion of competition to the detriment of SMEs. On the other hand, all Member States may suffer revenue losses and there is the risk of unfair competition to attract MNE Groups by offering them further tax benefits. There is therefore a problem for the properSuch a race to the bottom hampers the proper functioning of the Internal Market. According to Article 3 of the Treaty on the Functioning of the European Union (TFEU), it is the Commission's role to establish the competition rules necessary for the functioning of the Iinternal Mmarket.
Amendment 25 #
2016/0010(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Increased transparency towards tax authorities could have the effect of giving MNE Groups an incentive to abandon certain practices and pay their fair share of tax in the country where profits are madevalue is added. Enhancing transparency for MNE Groups, without hampering Union competitiveness, is therefore an essential part of tackling base erosion and profit shifting.
Amendment 44 #
2016/0010(CNS)
Proposal for a directive
Recital 8 a (new)
Recital 8 a (new)
(8a) In order to properly monitor the country-by-country reporting obligation and ensure that the internal market is not distorted, Member States should communicate the country-by-country report to the Commission on a confidential basis. The Commission should take all appropriate measures to protect that sensitive information.
Amendment 51 #
2016/0010(CNS)
Proposal for a directive
Recital 11
Recital 11
(11) As regards exchange of information between Member States, Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC already provides for the mandatory automatic exchange of information in a number of fields. Its scope should be enlarged to provide for the mandatory automatic exchange of country- by-country reports between Member States, and with the Commission, on a confidential basis.
Amendment 58 #
2016/0010(CNS)
Proposal for a directive
Recital 12
Recital 12
(12) The mandatory automatic exchange of country-by-country reports between Member States should in each case include the communication of a defined set of basic information thatwhich should be based on uniform definitions and which would be accessible to those Member States in which, on the basis of the information in the country-by- country report, one or more entities of the MNE Group are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment of an MNE Group.
Amendment 121 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2011/16/EU
Article 23 – paragraph 3 a (new)
Article 23 – paragraph 3 a (new)
3a. The Commission shall, on the basis of the information received, report on an annual basis to the European Parliament and to the Council on the outcome and output of the reporting procedure.
Amendment 123 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2011/16/EU
Article 23 – paragraph 3 b (new)
Article 23 – paragraph 3 b (new)
3b. In the event that the Commission's impact assessment on the consequences of public disclosure of country-by-country information determines that there are no negative consequences for MNE Groups, the Commission shall promptly propose legislation to make the information publicly available.
Amendment 132 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Directive 2011/16/EU
Article 27 a (new)
Article 27 a (new)
(7a) The following Article is inserted: “Article 27a Review The Commission shall review the effectiveness of this Directive within three years after its entry into force.”
Amendment 1 #
2015/2323(INI)
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
- having regard to the Commission Communication entitled "An EU Strategy on Heating and Cooling" (COM(2016)51),
Amendment 13 #
2015/2323(INI)
2. Highlights that the ongoing energy transition is resulting in a move away from a centralised, inflexible, fossil fuel-based energy system to one which is more decentralised, flexible and renewables- based;
Amendment 41 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point c
Paragraph 3 – point c
Amendment 52 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point d
Paragraph 3 – point d
d. protect consumers from abusive, uncompetitive and unfair practices by suppliers and enable them to fully exercise their rights;
Amendment 71 #
2015/2323(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that, as a general principle, the energy transition should result in a more decentralised and democraticinclusive energy system which benefits society as a whole, increases the involvement of citizens and local, local and regional actors and communities, and empowers them to own or share in the ownership of the production, distribution and storage of energy, while at the same time protecting the most vulnerable;
Amendment 95 #
2015/2323(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that the aim of the Third Energy Package to provide a truly competitive and consumer-friendly retail energy market has not yet been fully realised, as for example evidenced by low levels of consumer switching and satisfaction across the EUin many Member States, persistent high levels of market concentration, and the failure to reflect falling wholesale costs in retail prices also due to a rising share of fixed elements like taxes and levies in energy bills;
Amendment 119 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point a
Paragraph 6 – point a
a. Recommends improving the frequency of energy bills and their transparency and clarity of bills, which should include information on the final price, with an explanation of the different taxes, levies and tariffs, together with information on the different energy sources and complaint handling, clear indication of contact points, and information on switching and energy efficiency measures; insists that clear language must be used, with technical terms either avoided or clearly explained; requests the Commission to identify minimum standardcommends to enhance the exchange of best practices in this respect;
Amendment 140 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point b
Paragraph 6 – point b
b. Recommends that consideration be given to requiring energy bills to include comparisons of offers in order to enable all consumers, even those without internet access or skills, to see whether they could save money by switchingalso consumers lacking internet access or skills receive all necessary information to be able to make informed decisions, such as comparisons of offers; believes that peer-based comparisons should also be included in billsare an important tool to help reduce energy use;
Amendment 152 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point c
Paragraph 6 – point c
c. Recommends developing rulEU-guidelines for price comparison tools to ensure that consumers can access independent, up-to- date and understandable comparison tools; believes Member States should develop accreditation schemes covering all price comparison tools, in line with CEER guidelines;
Amendment 161 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point d
Paragraph 6 – point d
d. Recommends that there should be a limited range of standardised tariffs, in order to facilitate comparison between different suppliers and tariffs and avoid a confusing array of different tariffs for the same product;eleted
Amendment 176 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point e
Paragraph 6 – point e
e. Recommends that consideration be given to requiring energy suppliers to automatically placeenergy suppliers should continuously inform customers onabout the most advantageous tariffs available, where possible, based on historic consumption patterns; notes, given that switching rates are low throughout Europein many Member States, that many households, especially the most vulnerable, are not engaged in the energy market and are stuck on outdated expensive tariffs;
Amendment 194 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point f
Paragraph 6 – point f
f. Recommends measures to enable retail prices to better reflect wholesale prices and thus reverse the trend of an increasing proportion of fixed elements in energy bills, in particular network charges, taxes and levies and in some cases network charges, which are often regressive elements; recommends that such elements be applied progressively or, where, possible funded from alternative sources;
Amendment 218 #
2015/2323(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes that collective switching schemes and campaigns should be promoted in order to help consumers find a better deal; emphasises that such schemes must be independent, trustworthy, comprehensive and inclusive, also reaching those who are less engaged; suggests that local authorities, regulators and consumer organisations and other not-for-profit organisations are well placed to fulfil this role, and that support from European funds for such activities should be considered;
Amendment 231 #
2015/2323(INI)
Motion for a resolution
Subheading 2
Subheading 2
Amendment 240 #
2015/2323(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that local authorities, communities and individuals should form the backbone of the energy transition and should be actively supported to help them become energy producers and suppliersencouraged to become active players in the energy market on an equal footing with other players;
Amendment 264 #
2015/2323(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Considers that access to capital, high upfront investment costs and long repayment periods represent barriers to the take-up of self-generation and energy efficiency measures; calls, therefore, for the development of new business models and innovative financial instruments to incentivise self-generation, consumption and energy efficiency for all consumers; suggests that this should become a priority for the EIB, EFSI and therecommends in this regard that Member States and other market actors make full usage of funds available, such as EIB, EFSI, Horizon 2020 and Structural Funds;
Amendment 286 #
2015/2323(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for stable and sufficientcost-effective remuneration schemes to guarantee investor certainty and increase the take-up of small-scale renewable energy; believes that grid tariffs and other fees should be non-discriminatory and should fairly reflect the impact of the consumer on the grid, while guaranteeing sufficient funding for the maintenance and development of distribution grids; regrets the recent abrupt changes to support schemes in certain Member States, as well as the introduction of unfair and punitive taxes or feescalls for a level-playing field for all market actors and urges Member States to remove unnecessary regulatory burdens, which are detrimental to the continued expansion of self-generationstrict competition and consumer choice;
Amendment 300 #
2015/2323(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recommends reducing to an absolute minimum the administrative barriers to new self-generation capacity, and suggests replacing lengthysimplifying authorisation procedures with a simple notification requirement; suggests that the revision of the renewable energy directive could include specific provisions to remove barriers and promote community/cooperative energy schemes;
Amendment 325 #
2015/2323(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that consumers should have easy and timely access to their consumption data in both volume and monetary termand related costs, to help them make informed decisions; notes that only 16 Member States have committed to a large-scale roll-out of smart meters by 2020; believes that where smart meters are rolled out there should be a solid legal framework to ensure an end to back-billing and a rollout that is efficient and affordable for all consumers and is free of charge forincluding energy-poor consumers; insists that efficiency savings from smart meters should be shared on a fair basis between grid operators and users; stresses that compliance with the Commission’s recommendations on consumer-oriented functionalities of smart meters as well as attention to interoperability is needed in order for consumers to enjoy full benefits;
Amendment 340 #
2015/2323(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Emphasises that the development of smart technologies plays a key role in the energy transition and can help customers reduce their energy costs and improve energy efficiency; calls therefore for the rapid deployment of ICT, including mobile applications, online platforms and online billing; stresses, however, that this development must not leave the most vulnerable or less engaged consumers behind, nor see bills rise;
Amendment 367 #
2015/2323(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the processing and storage of citizens’ energy-related data should be managed by neutral entities, which have to ensure non-discriminatory access to meter data and should comply with the existing EU legislation, which lays down that the ownership of all data lies with the citizen and that data should only be provided to third parties by explicit consent; considers that, in addition, citizens should be able to exercise their rights to correct and erase information;
Amendment 376 #
2015/2323(INI)
21. Calls foron the development of a strong EU framework to fight energy poverty, including a broad, common but non- quantitative definition of energy poverty, focusing on the idea that access to affordable energy is a basic social right; urges the Commission to prioritise measures to alleviate energy poverty in upcoming legislative proposals and to present a dedicated action plan by mid- 2017Member States to enhance the exchange of best practices on tackling energy poverty as well as better exchange of information and increased collaboration on how to adequately protect the most vulnerable;
Amendment 423 #
2015/2323(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 18 #
2015/2285(INI)
Motion for a resolution
Recital A
Recital A
A. whereas economic recovery and the effective implementation of structural reforms in the European Union is under way but remains uneven between and within Member States and is partly driven by temporary factors;
Amendment 39 #
2015/2285(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the euro area’s current account surplus continues to rise, while Europe still faces an importantpublic and private debt levels remain very high and are a drag on growth and hold back investment gap;
Amendment 71 #
2015/2285(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the 2016 Annual Growth Survey package and the proposed policy mix of investment, structural reform and fiscal responsibilityconsolidation, with increased emphasis on domestic demand and convergence, complementing accommodative monetary policiesthe effective implementation of structural reforms to ensure well- functioning labour, product, services and capital markets, quality education and training systems, modern and efficient social security systems and to promote innovation and entrepreneurship;
Amendment 85 #
2015/2285(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes improvements in public finances, in particular gradually declining debt/GDP ratioa fall in headline budget deficits and gradually declining debt/GDP ratios but points out that public debt still remains very high in some Member States, which is a drag on growth and a burden for future generations;
Amendment 101 #
2015/2285(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Calls for further efforts to support recovery, foster convergence and correct macroeconomic imbalances, including by channelling excess savings towards the domestic economy and boosting investmentaddressing falling labour and total factor productivity, which are the main sources of divergences in growth rates;
Amendment 111 #
2015/2285(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is encouraged by mild improvements in labour market indicators; calls for more effort to reduce poverty, social exclusion and growing inequalitiesenhance economic and labour- market reforms that will enhance productivity, demand and thereby reduce unemployment;
Amendment 128 #
2015/2285(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the renewal of the Europe 2020 Integrated Guidelines, and calls for strengthening the role of the Europe 2020 Strategy in guiding the European Semester with respect to Europe 2020´s objectives on enhancing the employment rate and private R&D investment;
Amendment 137 #
2015/2285(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls for the European Fund for Strategic Investments to be used to maximum effect to support economically profitable higher-risk projects not financed otherwise, and to promote growth, job creation and cohesionstructural growth, structural job creation and structural economic competitiveness;
Amendment 159 #
2015/2285(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is aware of the ongoing deleveraging process in the private sector; points to the importance of coimplementing the banking union andexisting pillars of the banking union and establish a Capital Markets Union to help boosting equity investments in SMEs;
Amendment 222 #
2015/2285(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for product and service market reforms and better regulation, promoting innovation and quality-based competition;
Amendment 242 #
2015/2285(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Urges that further steps be taken towards resilient labour markets with reduced segmentation and sustainable welfare systems with increased focus on social investmentimproved allocation of human resources and sustainable welfare systems;
Amendment 277 #
2015/2285(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reiterates the need for responsible fiscal policies, taking into accounthat ensure debt sustainability, the economic cycle and investment gaps;
Amendment 288 #
2015/2285(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Insists on implementation of the Stability and Growth Pact, while making use of available fiscal space, inter alia, to deal with security threats and refugee inflows;
Amendment 306 #
2015/2285(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Emphasises the need for improved tax collection, and fighting tax evasion and avoidance and improved tax policy coordination;
Amendment 340 #
2015/2285(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. WelcomesTakes note of the recommendation on the economic policy of the euro area as a way to deepen policy coordination in the follow-up to the Five Presidents’ Report;
Amendment 346 #
2015/2285(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Emphasises that, given its high level of interdependence and the singleness of its monetary policy, the euro area needs to be viewed as one macroeconomic entity where convergence must be promoted; calls therefore for an in-depth aggregate assessment of macroeconomic imbalances in the euro area to complimportance of enhanced action by national governments to implement necessary economic reforms and strengthen economic competitiveness; insists on substantial improvements in the assessment of country-specific vulnerabilities; insists on full coherence between the euro area recommendation and country-specific recommendations;rate of implementation of country-specific recommendations, particularly in countries where structural reforms are urgently needed.
Amendment 355 #
2015/2285(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Recalls that monetary policy can succeed in supporting cyclical recovery but can only facilitate and not replace structural reforms necessary for structural recovery; underlines the Member States' and the European institutions' responsibility to restore confidence to enable private investments, entrepreneurship and active participation of citizens in the economic cycle;
Amendment 363 #
2015/2285(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes increased attention to the euro area’s aggregate fiscal stance; calls for greater discussion on whether it can be considered broadly neutral given the large investment gapTakes notes of the assessment of a broadly neutral aggregate fiscal stance in the euro area;
Amendment 376 #
2015/2285(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the recommendation to differentiate fiscal effort by individual Member States taking into account their respective positions vis-à-viso ensure compliance with the Stability and Growth Pact requirements and stabilisation needs, as well as spillover effects; notes that high-surplus countries have significant fiscal space which they could use to the benefit of their populations and the monetary union as a whole;
Amendment 390 #
2015/2285(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Agrees that while the euro area’s high current account surplus is a welcome sign of the euro area’s external competitiveness,; it also implies a lack of internal investment and a risk of euro appreciation when monetary policy starts to become less accommodative, with advnsists that more must be done to enhance competitiveness and productivity so as to increase net exports´ contribution to aggregate demand; reiterates that greater productivity will sersve effects on growth and employmentto enhance potential growth and investment demand;
Amendment 403 #
2015/2285(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Emphasises the need to foster real economic and social convergence driven by enhanced improvements in productivity and non- cost factors; underlines the importance of all Member States having sufficient investment capacity, enabling balanced and sustainable growth;cost competitiveness
Amendment 411 #
2015/2285(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 439 #
2015/2285(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Believes that better implementation of country-specific recommendations requires clearly articulated priorities at European level and genuine public debate and commitment at national level, leading to greater relevance and ownership;
Amendment 443 #
2015/2285(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
Amendment 456 #
2015/2285(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Requests that plenary debates with the Commission and the President of the Eurogroup on the draft euro area recommendation become regular features in order to strengthen and complement existing democratic dialogue and accountability, for example the economic dialogue;
Amendment 468 #
2015/2285(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
Amendment 7 #
2015/2276(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights the dual-use capacity of Galileo and Copernicus, in the form of the Public Regulated Service and the Copernicus security service; believes this capacity should be fully developed in the next generations, noting especially the need for very high resolution earth observation data (Copernicus) and better precision, and encryptionuthentication, encryption, continuity and integrity (Galileo); calls for sufficient provision in the mid-term review for all satellite systems’ future development;
Amendment 29 #
2015/2276(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Points to the development of SST as a step towards security in space; considers that SST should become an EU programme with its own limited budget; invites the Commission to assess the need to take account of space weather and near-Earth objects and to come up with the next steps for SST in order to prepare industry; emphasises that the private sector should be enabled to play an important role in further developing and maintaining the non-sensitive part of the SST system, for which the two-sided governance structure of Galileo could serve as an example;
Amendment 39 #
2015/2276(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Notes the strategic importance of independent access to space and the need for dedicated EU action; calls on the Commission, in collaboration with the European Space Agency and the Member States, to coordinate planned institutional needs, so that industry can anticipate demand, as well as on the other hand generate its own demand as concerns business driven utilization, to support launch infrastructure and to promote R&D, particularly in breakthrough technologies;
Amendment 45 #
2015/2276(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Stresses the strategic importance of stimulating space innovation and research for security and defence; acknowledges the large potential of critical space technologies such as the European Data Relay System, which enables real-time and persistent earth observation, the deployment of mega- constellations of nanosats and, lastly, building up a responsive space capacity; underlines the need for innovative big data technologies to make use of the full potential of space data for security and defence; invites the Commission to incorporate these technologies in its Space Strategy for Europe;
Amendment 46 #
2015/2276(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Calls on the Commission to provide sufficiently for critical space technologies for security and defence during the mid- term review of Horizon 2020;
Amendment 47 #
2015/2276(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Identifies the dangers of cyber warfare for European space programmes, taking into account that spoofing or jamming can disturb military missions or have far- reaching implications for daily life on earth; believes that cyber security requires a joint approach by EU, Member States, business and internet specialists; calls on the Commission, therefore, to include space communication in its cyber security programmes;
Amendment 54 #
2015/2276(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses the need for better coordination of EU space capacities, with the necessary system architectures and procedures to ensure a proportionate level of security, including data security; considers that EU space capacities dedicated to security and defence could be managed by a specific operational service coordination centre., which should be incorporated in a cost- efficient manner into one of the existing EU bodies, such as the European GNSS Agency, the EU Satellite Centre or the European Defence Agency, taking into account the capabilities already offered by those agencies;
Amendment 191 #
2015/2210(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses the need for Member States to adapt their public finances by conducting a counter-cyclical policy when necessary and making full use of the existing flexibility clauses foreseen in the legislation; considers that Member States with high debt levels in particular must continue with growth-friendly fiscal consolidation and urgently implement the recommended structural reforms, while those with more fiscal space should use it to accelerate investment;.
Amendment 208 #
2015/2210(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the fall in the number of Member States subject to the Excessive Deficit Procedure (EDP), from 11 in 2014 to 9 in 2015; notes, however, that the number is still relatively high, and reiterates its call for the Country Specific Recommendations (CSRs) to be, where relevant, better coordinatedalignment with the EDP recommendations so as to ensure consistency between surveillance of the fiscal position and economic policy coordinrecommendations;
Amendment 248 #
2015/2210(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Deplores the fact that the CSRs suffer from lack of ownership at national level and from a democratic accountability mechanismin some Member States; calls, in this context, for an increased role for national parliaments in the preparation of the National Reform Programmes (NRPs); stresses that increased ownership is a crucial factor forwill be an important factor in some Member States in ensuring the successful implementation of the CSRs and, in the longer term, for the success of the Europe 2020 strategy;
Amendment 281 #
2015/2210(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Reiterates its cCalls for the strengthening of the position of the Commission's Chief Economic Analyst (CEA), whose mandate is to verify independently the implementation of the EU governance rules within the European Semester; calls, in particular, for the CEA's analysis to be made public and for the establishment of a regular dialogue between the competent committee of Parliament and the CEA; notes also in this context that the Five Presidents' Report on completing EMU proposes the setting-up of a European Fiscal Board (EFB);'s analysis to be made public
Amendment 23 #
2015/2155(DEC)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Stresses that the Court of Auditors report adopted on 11.07.2014 states that the potential saving for the EU budget would be about 114 million EUR per year if the European Parliament centralised its activities; reiterates the call on Parliament and the Council to address, in order to create long term savings, the need for a roadmap to a single seat, as stated by Parliament in several previous resolutions;
Amendment 46 #
2015/2147(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 96 #
2015/2147(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Believes that digital payment services are crucial to the economy; calls on the Commission to remove any barriers to paying online in the Union and to ensure that all commercial EU websites that accept payment services such as online banking and credit cards do not discriminate on the basis of the Member State of registration of these payment services;
Amendment 200 #
2015/2147(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Believes that better regulation should help to examine policy through a digital lens and facilitate the adaptation of legislation and enforcement frameworks in the light of new technologies and new business models to prevent fragmentation of the single market; calls on the Commission to apply a technology neutral innovation principle to all future legislation in order to make sure this legislation will provide room for innovation; calls on the Commission to present a strategy on reviewing existing legislation according to the same innovation principle;
Amendment 246 #
2015/2147(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses the urgent need for the Commission and Member States to promote a more dynamic economy for innovation to flourish and for companies to scale up, through the development of e- government, a modernised regulatory framework fit for the emergence and scale- up of innovative businesses, improved access to finance for start-ups and SMEs, and a long term investment strategy in infrastructure, skills, research and innovation;
Amendment 286 #
2015/2147(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Commission, in cooperation with Member States, to further develop initiatives to boost entrepreneurship that range from changing the mind-set on how success is defined to promoting an entrepreneurial and innovation culture, including business model innovation; believes, in addition, that the diversity and specific attributes of the different national innovation hubs could be turned into a real competitive advantage for the EU if they are effectively interconnected;
Amendment 394 #
2015/2147(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Believes that cross-border E- commerce and a digital economy can only flourish if non-digital trade barriers are also successfully addressed in the internal market, such as rules regarding labelling or warranty terms;
Amendment 399 #
2015/2147(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses the importance for consumers to be better informed of the use of their data, in particular in the case of free services;
Amendment 494 #
2015/2147(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for an ambitious enforcement framework for the Services Directive; encourages the Commission to make use of all means at its disposal to ensure the full and correct implementation of existing rules, including developing enforcement guidelines to ensure, in particular ,uniform application of the mutual recognition principle in the field of services and fast-track infringement procedures whenever incorrect or insufficient implementation of the directive is identified;
Amendment 510 #
2015/2147(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses that accessible, affordable, efficient and high-quality delivery services are an essential prerequisite for thriving cross-border e-commerce; supports the proposed measures to improve competition, price transparency, interoperability and regulatory oversight that should target both the smooth functioning of cross-border parcel delivery markets and compliance with relevant social and labour rights, allowing enough flexibility for the delivery market to evolve and adapt to technological innovations;
Amendment 528 #
2015/2147(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Emphasizes that increased competition on the parcel delivery market will lead to more efficient, affordable and expeditious services; calls on the Commission to ensure a sufficient level of competition when deliberating on a revision of the regulatory framework of parcel delivery;
Amendment 672 #
2015/2147(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Reminds the commitment of Member states to at least reach by 2020 the broadband targets of full deployment of superfast speeds (30 Mbps); calls on the Commission to evaluate if the current broadband targets meet the conditions to the development of a data-driven economy and if investments in Member States are part of a long term and future-proof investment strategy;
Amendment 687 #
2015/2147(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Stresses the importance of a successful implementation of EFSI in targeting projects with higher-risk profiles to maximise investments in digital infrastructure and better attract private investments for innovative companies; a particular focus should be given to information and support of innovative entrepreneurs, at the different funding stages of development of the company;
Amendment 723 #
2015/2147(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses that since the development of over-the-top services has increased demand and competition among services to the benefit of consumers, modernisation of the telecommunication framework should not lead to more regulatory burdens, but should drive innovation and fair competition and ensure fair access to the networks;
Amendment 770 #
2015/2147(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Stresses that the uniform enforcement of the Connected Continent package, including the end of roaming surcharges and the net neutrality principle, requires the establishment of a single European telecommunications regulatornet neutrality principle and the end of roaming surcharges, is essential to the functioning of the single market ;
Amendment 800 #
2015/2147(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Stresses that the European Digital Single Market should make daily life easier for the end consumer; therefore, calls on the Commission to solve the problem of the cross-border handover of telephone calls, so that consumers will be able to perform uninterrupted telephone calls when crossing borders in the Union;
Amendment 858 #
2015/2147(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Appreciates the Commission’s initiative to analyse the role of platforms in the Digital Economy as part of the upcoming Internal Market StrategyDigital Single Market Strategy that should aim at identifying specific and defined problems within specific business areas; Stresses that taking a "one size fits all" approach in light of the diversity of platforms, and the growth potential in particular of B2B platforms, could seriously impede innovation;
Amendment 940 #
2015/2147(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Stresses the need of reducing administrative burdens for all participants in the Digital Single Market, including telecom operators; consequently calls on the Commission, in line with the better regulation agenda, to assess whether the e-Privacy Directive, which applies to the telecoms providers only, will be made redundant by the soon to be adopted General Data Protection Regulation that will cover all online services;
Amendment 250 #
2015/2140(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Considers that healthy tax competition is one of the constitutive elements of the internal market of the Union but unfair tax competition must be prevented through minimum rates of taxation and harmonised tax bases;
Amendment 276 #
2015/2140(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 296 #
2015/2140(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls on the Commission to give the Parliament greater and earlier involvement in fundamental issues of competition policy, if the desired treaty amendment is not expected soon; Calls on the Commission to give the Parliament greater involvement in sector-specific investigations;
Amendment 98 #
2015/2132(BUD)
Motion for a resolution
Paragraph 67 b (new)
Paragraph 67 b (new)
67b. Stresses that Parliament and the Council must address the need for a roadmap to a single seat, as requested by a large majority in this Parliament in several resolutions, in order to create long term savings in the Union budget;
Amendment 3 #
2015/2127(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Takes note of the 2014 EIB Annual Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned atpoints out that the uncertainty in the fincreasing high unemployment, inequality and poverty levels, weak investment and the continuous uncertainty in the financial marketsancial markets is still high and investment levels in the EU have not sufficiently increased; believes that all current and future EIB lending should be focused on tackling the lack of finance for SME´s in order to create jobs and growth in the EU;
Amendment 38 #
2015/2127(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 59 #
2015/2127(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their high risk environment;
Amendment 68 #
2015/2127(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses that the EIB should consider the viability of projects as the core criterion for lending; calls on the EIB to focus on investments in the real economy in order to stimulate jobs and growth in the EU;
Amendment 80 #
2015/2127(INI)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 92 #
2015/2127(INI)
Draft opinion
Paragraph 7
Paragraph 7
Amendment 13 #
2015/2115(INI)
Motion for a resolution
Recital C
Recital C
C. whereas, again according to the same forecast, the fiscal outlook in the euro area should exhibit a slightn improvement, with decreases expected in the public deficit (from 2.4 % in 2014 to 1.7 % in 2016) and the public debt (from 94 % at the end of 2014 to 92.5 % at the end of 2016);
Amendment 78 #
2015/2115(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. AcknowledgNotes that, in reaction to a complex environment of falling inflation, contraction of credit and sluggish economic growth, and with its interest rates close to the zero lower bound, the ECB resorted to non-conventional monetary policy instruments; insists that monetary policy cannot resolve the fiscal and economic problems that exist in many Member States and cannot be a substitute for necessary structural reforms.
Amendment 85 #
2015/2115(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Expresses strong concerns about the unintended consequences of the ECB´s quantitative easing measures; points to particular concerns around competitive distortions within the Single Market created by the PSPP program as well as the negative effects of artificially low interest rates and the flattening yield curve on financial stability in general and the stability of pension funds and life insurers in particular;
Amendment 86 #
2015/2115(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Stresses the importance of the organisational independence of the European Systemic Risk Board and calls on the ECB to consider ways of enhancing the ESRB´s independence;
Amendment 96 #
2015/2115(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is concerned atPoints out the dangers to financial stability posed by artificially low interest rates, notes the rise in long-term domestic yields in most Member States observed since the second quarter of 2015, which could ul and emphasises the need for proper, prudent and timately erode the expected positive impactmanagement of the winding down of non-conventional monetary policy measures adopted by the ECB;
Amendment 136 #
2015/2115(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that, according toEmphasises the concerns expressed in the ECJ judgment of 16 June 2015 in Case C-62/14, which states that when the ECB purchases government bonds on secondary markets it is exposed to a significant risk of losses as well as to the risk of a debt cut;
Amendment 153 #
2015/2115(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 177 #
2015/2115(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 210 #
2015/2115(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Deplores the fact that the ECB has exceeded even a broad interpretation of its Treaty-based mandate, inter alia in its role in the Troika and Quadriga; urges the ECB to take a step backwards andUrges the ECB to reinforce its independence from political decisions, abiding by the ECJ judgment in Case C- 62/14 of 16 June 2015, especially its paragraph 102, as well as the opinion expressed by Advocate-General Cruz Villalón in the same case, especially its paragraphs 227 and 263;
Amendment 227 #
2015/2115(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for a thorough assessment of the Troika’s modus operandi and of the ECB’s involvement in the Troika and Quadriga frameworks, with a view to clarifying and redefining the scope of responsibilities and ensuring greater democratic accountability in the adoption and implementation of bailout programmes; invites the Council to reconsider the involvement of the ECB and IMF in the Troika;
Amendment 230 #
2015/2115(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 235 #
2015/2115(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 237 #
2015/2115(INI)
Motion for a resolution
Paragraph 25 – point a
Paragraph 25 – point a
Amendment 238 #
2015/2115(INI)
Motion for a resolution
Paragraph 25 – point b
Paragraph 25 – point b
Amendment 239 #
2015/2115(INI)
Motion for a resolution
Paragraph 25 – point c
Paragraph 25 – point c
Amendment 245 #
2015/2115(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 262 #
2015/2115(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the current structure of the Banking Union should be complemented in the future with a single mechanism to guarantee bank deposits, aimed at avoiding capital flight in the event of a future banking crisis. A single DGS cannot be contemplated as long as other pillars of the Banking Union have not been fully implemented and as long as legacy concerns regarding bank balance sheets have not been fully resolved;
Amendment 275 #
2015/2115(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the capital markets union project and its potential contribution to reducing excessive dependence of euro area economies on the banking system;
Amendment 124 #
2015/2113(INI)
Motion for a resolution
Recital H
Recital H
H. whereas many countries are heavily reliant on a single and often unreliable supplier, including some that rely entirely on Russia for their natural gas and others that heavily rely on Northern Africa, which leaves them vulnerable to supply disruptions, whether these are caused by political or commercial disputes, or infrastructure failure;
Amendment 135 #
2015/2113(INI)
Motion for a resolution
Recital J
Recital J
J. whereas the 2006, 2009, 2014 and 200915 gas disputes between Russia and transit- country Ukraine left many EU countries with severe shortages;
Amendment 164 #
2015/2113(INI)
Motion for a resolution
Recital P
Recital P
P. whereas 30 million European jobs are at risk owing to the US shale gas boom, as energy-intensive industries move operations to the US, wherewill always be at risk so long as European industry fails to remain competitive, and therefore any improvements to industrial energy efficiency helping to reduce overall energy costs are far lowervital;
Amendment 177 #
2015/2113(INI)
Motion for a resolution
Recital Q a (new)
Recital Q a (new)
Qa. whereas competitive energy prices are crucial to achieve the EU's 20% reindustrialisation targets by 2020;
Amendment 193 #
2015/2113(INI)
Motion for a resolution
Recital T a (new)
Recital T a (new)
Ta. whereas the EU energy retail market does not function properly at present; whereas in many member states monopoly networks remain active and many consumers have too little choice between energy suppliers;
Amendment 248 #
2015/2113(INI)
Motion for a resolution
Recital Z a (new)
Recital Z a (new)
Za. whereas a reformed EU ETS is an important tool in decarbonising Europe's energy system and achieving the Union's long term emission reductions target;
Amendment 282 #
2015/2113(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to actively pursue themore sustainable and competitive energy prices for European citizens and businesses and diversification of supply (energy sources, suppliers and routes); to this end, calls on the Commission to promote the construction of the relevant energy infrastructure priority corridors, as specified in Annex I to the trans-European energy networks (TEN-E) regulation and Part II of the Annex I to the Connecting Europe Facility (CEF) regulation, such as the Southern Gas Corridor;
Amendment 307 #
2015/2113(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Underlines that energy suppliers coming from third countries must be subject to the EU acquis while operating on the common market, in particular the EU competition and state aid legislation, and calls on the Commission to enforce EU law by all means available in order to allow energy to flow freely in the EU and prevent distortions in the internal market;
Amendment 331 #
2015/2113(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that, in the context of the future Energy Union, security of energy supply isand European competitiveness are the most pressing issues and that Member States must coordinate and cooperate in this respect with their neighbours when developing their energy policies; calls on the Commission, in this respect, to examine how the current architecture of national preventive and emergency response measures could be streamlined at both regional and EU level;
Amendment 366 #
2015/2113(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that greater transparency of intergovernmental agreements could be achieved by strengthening the role of the Commission in energy-related negotiations involving one or more Member States and third countries, including by having the Commission participate in those negotiations if there is aan advisory capacity in those negotiations in order to mitigate the risks of abuse of a dominant position by one supplier; notes that furthermore the Commission should carry out ex-ante and ex-post assessments and draw up both a positive and a negative list of agreement clauses, such as export ban and destination clauses;
Amendment 381 #
2015/2113(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 386 #
2015/2113(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to enhance the transparency of commercial gas contracts in order to effectively remove abusive clauses and ensure better ex-ante compliance checks with EU law and energy security provisions; Underlines that such enhanced transparency will increase the negotiating power of Member States and their commercial enterprises, and will help to ensure a more market based approach to international energy agreements, while fully respecting commercially sensitive information;
Amendment 390 #
2015/2113(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on the Commission to prepare draft contract templates and guidelines including an indicative list of abusive clauseclauses relevant to Union interests in order to create a reference for competent authorities and companies in their contracting activities; Calls on the Member States to increase their cooperation on the information exchange mechanism with regard to intergovernmental agreements (IGAs) with third countries in the field of energy, in order to increase transparency and leverage their negotiating power vis- à-vis third countries, thereby securing more affordable energy for European consumers;
Amendment 398 #
2015/2113(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that in order to ensure a level playing field and strengthen the bargaining position of EU companies vis-à-vis external suppliers, key features of the contracts should be aggregated and regularly published so as to establish a transparent benchmark which can be referred to by competent authorities and companies in their future negotiations, whilst protecting the confidentiality of sensitive information, thereby ensuring a more market based approach and genuine competition in energy contracts and avoiding abuse of dominant positions by third countries;
Amendment 414 #
2015/2113(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Commission to establish an EU-wide target and develop concrete actions for reducing energy import dependency and to publish regular progress reports in this respect;
Amendment 556 #
2015/2113(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Keeping in mind that an important goal of the EU internal energy market is achieving sustainable energy prices for citizens and competitive energy prices for enterprises; stresses, for that reason, that a better functioning of the EU energy retail market should be effectuated by ending existing energy monopolies and by providing for free choice between energy suppliers for consumers;
Amendment 569 #
2015/2113(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Reiterates the importance of ownership unbundling as put forward by the Third Energy Package; calls on the Commission to assess to which degree national regulatory authorities (NRAs) enforce the conditions described in the opinions given by the Commission on the certification of transmission system operators (TSOs);
Amendment 629 #
2015/2113(INI)
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Calls on the Commission and Member States to take investment in smaller scale gas and electricity interconnectors linking neighbouring regions equally serious as larger PCIs; calls on the Commission and Member States to work closely together with regional authorities when developing these interconnectors;
Amendment 681 #
2015/2113(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Supports regional approaches where there are particular regional challenges or opportunities, or where acting regionally could speed up market integration with the aim of an EU wide internal energy market, including through the creation of regional hubs to enhance market liquidity;
Amendment 728 #
2015/2113(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28a. Emphasises the role that decentralised smart energy technologies, such as cogeneration, in particular micro- CHP, and smart grids can play in reducing CO2-emissions;
Amendment 1097 #
2015/2113(INI)
Motion for a resolution
Paragraph 46
Paragraph 46
46. Believes that greater effort in developing innovative low-emission technologies and solutions, such as CCS, micro-CHP and smart grids, can bring significant long-term benefits in terms of reduced generation costs and reduced energy demand;
Amendment 15 #
2015/2108(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recognises that developed and technologically modern electricity interconnection is aone of the preconditions for completfurther developing and integrateding EU internal electricity market, which, if well designed, will also help to achieve our competitiveness and climate objectives and improve the EU's geopolitical position through greater energy security and independence, as well as reduce energy isolation; stresses that the electricity interconnectors also need to be tackled, planned and execuconstructed through strong coordinated regional cooperation;
Amendment 17 #
2015/2108(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recognises that electricity interconnection is a precondition for completing an integrated EU internal electricity market, which, if well designed, will help to achieve affordable and competitive energy prices, meet our climate objectives and improve the EU's geopolitical position through greater energy security and independence, as well as reduce energy isolation; stresses that the electricity interconnectors also need to be tackled, planned and executed through strong coordinated regional cooperation;
Amendment 88 #
2015/2108(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Regrets the lack of a transparent decision-making process leading to the establishment of the projects of common interest (PCI) list; regrets further the predominant role of ENTSO-E, transmission system operators (TSOs) and project promoters in the development of a harmonised cost-benefit analysis methodology, in preparing the ten-year network development plans and the network codes, and in evaluating the costs and benefits of each project; recalls the need to provide complete assessments including economic, social and environmental impacts; calls on the Commission, the Agency for the Cooperation of Energy Regulators (ACER) and national regulators to play a more proactive role in order to develop a more neutral, transparent and democratic consultative process, including the effective participation of Parliament and giving voting status to civil society representatives; calls on the Commission to assess the situations in which the use of best available technology (BAT) could be established as a precondition for granting EU funds to projects;
Amendment 97 #
2015/2108(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that projects on the PCI list benefit from preferential regulatory treatment, fast-track planning, a binding, still rather long, time limit of 3.5 years for the granting of a permit and faster environmental assessment procedures, and may also be eligible for extra funding under the Connecting Europe Facility (CEF);
Amendment 139 #
2015/2108(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Urges the Commission, furthermore, to: 1) encourage investments in the best available technology, which, while costlier, offers considerable financial advantages as well as time savings in the long run; 2) conduct a review of the financing rules with the aim of streamlining the existing mechanisms and highlighting the principle that wealthier Member States are responsible for projects involving their countries, while EU financial support should be used in countries facing greater challenges; and 3) strengthen incentives for further investments in the grid by, inter alia, introducing a requirement for profits made from transmission congestion rent to be reinvested in additional interconnectors;
Amendment 141 #
2015/2108(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Urges the Commission, furthermore, to: 1) encourage investments in the best available technology, which, while costlier, offers considerable financial advantages as well as time savings in the long ru taking into account technical and economic aspects so as to make sure the most cost-effective technology is always chosen; 2) conduct a review of the financing rules with the aim of streamlining the existing mechanisms and highlighting the principle that wealthier Member States are responsible for projects involving their countries, while EU financial support should be used in countries facing greater challenges; and 3) strengthen incentives for further investments in the grid by, inter alia, introducing a requirement for profits made from transmission congestion rent to be reinvested in additional interconnectors;
Amendment 204 #
2015/2108(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses the need to derive a future electricity interconnection target from the EU's long-term climate goals as well as from a sustainable energy system and fair and affordable prices that the EU is looking for; notes in this context that the degree of interconnection required will depend in particular on whether: a) the EU is serious in applying the ‘energy efficiency first' principle and more demand-side response measures, b) decentralised renewables-based electricity and its correlated smart grids are further developed, c) energy storage technologies – at household or municipality levels – are developed, d) grids are optimised and use the best available technologies, e) people are given a higher role as prosumers in the energy system, and f) a clear incentive for investments in the grids is created;
Amendment 18 #
2015/2106(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses the need to take into account the wider global context; calls for a set of measures to improve the investment climate, attracting capital flows into the EU and restoring the international competitiveness ofinternational regulatory context; in particular when it comes to the timing and substance of legislative proposals to safeguard the international competitiveness of the EU´s financial sector, improve the investment climate of and attract capital flows into the Union;
Amendment 28 #
2015/2106(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Welcomes the envisaged diversification of funding channels, which should be complementary to the existing ones and promote instruments which have proved their usefulness; underlines the need to reduce administrative burdens and foster the application of the principles of subsidiarity, proportionality, coherence and practicability in EU legislation, in the interests of efficient, liquid and cost- effective capital markets;
Amendment 34 #
2015/2106(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Considers that the Capital Markets Union should also ensure, by removing restrictions and barriers to the possible use of financial instruments such as for instance bond or stocks, that businesses are able to choose between types of financing;
Amendment 41 #
2015/2106(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Welcomes the launch of consultations on the review of the Prospectus Directive and the efforts being made to remove regulatory barriers to access to securitisation; underlines, in particular, the need to open up financial markets to SMEs and Midcaps; supports broadening the funding options available for SMEs and Midcaps; calls in this respect to consider 'SME benchmarks' enabling banks to compare and price credit, instead of the less realistic SME credit registry; calls for improved access to long-term financing and for the development of a pan-European private placement market promoting venture capital, as well as alternative instruments such as peer-to-peer lending and crowdfunding; asks the Commission to embed the 'Funding Escalator' concept within Capital Markets Union, addressing the diversity of companies' financing needs throughout their stages of development;
Amendment 44 #
2015/2106(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. WSupports broadening the funding options available for SMEs; therefore welcomes the launch of consultations on the review of the Prospectus Directive and the efforts being made to remove regulatory barriers to access to securitisation; underlines, in particular, the need to open up financial markets to SMEs; supports broadening the funding options available for SME; calls for an ambitious effort to revive securitisation markets, which requires the avoidance of an overly prescriptive and detailed definition of simple, transparent and standardised (STS) securitisations; calls for improved access to long-term financing and for the development of a pan-European private placement market promoting venture capital, as well as alternative instruments such as peer-to-peer lending and crowdfunding;
Amendment 60 #
2015/2106(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Commission to take into account the specificities of individual markets and propose changes only in those areas that require intervention in order to eliminate the existing barriers; believes that the bottom-up approach and, sharing national best practices and the strengthening of local capital markets and local ecosystems should be at the core of the Capital Markets Union initiative;
Amendment 63 #
2015/2106(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the Commission to propose a coherent framework to enhance the quality and practicability of legislation, which should ensure greater and structural participation of ESAs during the level 1 phase and sufficient opportunity for ESAs to review as well as respond to unintended consequences that may arise during and following the implementation phase;
Amendment 227 #
2015/2106(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Acknowledges the traditional reliance of SMEs on bank funding due to their specific nature, different risk profiles and variety across Europe; calls on the Commission, in cooperation with the European Supervisory Authorities (ESAs) and the ECB, to analyse the obstacles to, and benefits of, the diversification of funding channels and how to enable banks to increase SME funding; calls in this respect to consider ‘SME benchmarks’ enabling banks to compare and price credit, instead of the less realistic SME credit registry; suggests that the initiatives for improved SME funding should be expanded to mid-cap companies;
Amendment 232 #
2015/2106(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Asks the Commission to embed the ‘Funding Escalator’ concept within CMU, addressing the diversity of companies’ financing needs throughout their stages of development;
Amendment 266 #
2015/2106(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Asks the Commission and supervisors to address the interaction between International Financial Reporting Standards (IFRS) and prudential requirements, and to review the impact of tax accounting on own fundsespecially for SMEs where EU accounting standards are incompatible with IFRS, and to review the impact of tax accounting on own funds; in response to its proposals in the recent Tax Action Plan (European Commission Communication on A Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action), requests the Commission to address the corporate debt equity bias in order to strengthen CMU; further calls on the Commission to review the structural bias against share holdings in the Solvency II framework;
Amendment 288 #
2015/2106(INI)
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, particularly with regards to ensuring EU businesses are not at a competitive disadvantage to firms elsewhere; Stresses the importance of alignment of global regulation through international fora such as the G20 in order to ensure a level playing field and to support the development of capital markets worldwide;
Amendment 296 #
2015/2106(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the importance of the international framework with respect to its scope, methodologies and implications on the EU framework; calls on the Commission and ESAs to coordinate more closely with Member States and international bodies promotingin order to avoid unnecessary adverse impacts on competitiveness of the EU finterestsancial sector;
Amendment 302 #
2015/2106(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Points to the importance of equivalence decisions in addressing obstacles regarding market access and the respective regulatory frameworks, bearing in mindhighlights that equivalence with other jurisdictions has the potential to increase capital inflows and attract further investment into Europe, but cautions that such unilateral decisions must benefit European businesses and consumers;
Amendment 307 #
2015/2106(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Requests that the Commission propose a coherent framework for dealing with third countries; stresses that such a framework should extend beyond equivalence provisions and, where possible, incorporate international standards or agreements;
Amendment 325 #
2015/2106(INI)
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, as well as facilitating and providing better conditions for the participation of small stakeholders to participate;
Amendment 352 #
2015/2106(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31a. Calls on the Commission to propose a coherent framework to enhance the quality and implementability of legislation, which should ensure greater and structural participation of ESAs during the level 1 phase and sufficient opportunity for ESAs to review as well as respond to unintended consequences that may arise during and following the implementation phase;
Amendment 366 #
2015/2106(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Emphasises that an early legal review by the Commission should not reduce the transparency of the process vis-à-vis Parliament; requests that during the drafting process the ESAs proactively provide Parliament with provisional drafts;
Amendment 421 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 8
Paragraph 43 – indent 8
– the effectiveness and appropriateness of the framework for retail investors, institutional investors and consumers, including the effect on access to finance for SMEs and mid-cap companies,
Amendment 427 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 9 a (new)
Paragraph 43 – indent 9 a (new)
– the transparency of the legislative process, including consistency between the basic acts as adopted by the co- legislators and any associated level 2 measures,
Amendment 7 #
2015/2105(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Emphasises that trade and investment policies must be aimed at creating sustainable growth and high-quality, decent jobs, and that future trade agreements should be drawn up in such a way as to form part of an industrial strategy based on fair competition and reciprocity;
Amendment 12 #
2015/2105(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes the growing importance of services for international trade and the stronger inter-linkages between services, manufacturing and foreign direct investment as global value chains become ever more significant; believes that this interconnectivity has to be considered in all trade negotiations for the European industry to enjoy full benefits;
Amendment 22 #
2015/2105(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses the importance of SMEs to trade and investment, given that there are more than 600 000 SMEs in the EU, which account for one third of EU exporwhich engage in trade outside the EU and account for one third of EU exports; welcomes in this regard the Commission’s proposal to include an SME dedicated chapter in all EU Free Trade Agreements;
Amendment 41 #
2015/2105(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses the importance of preventing the EU’s trading partners from engaging in anti-competitive practices, including social or environmental dumping, or the dumping of cheap products in Europe, as this could de-stabilise European industryall kinds of dumping as well as protectionist and discriminatory measures, as this could de-stabilise European industry; calls on the Commission to make use of all measures available to fight unfair trading practices from third countries and to modernise its trade defence instruments in order to improve their reactivity and effectiveness;
Amendment 54 #
2015/2105(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Believes that forward-looking trade and investment policies can play a role inare fundamental to the development of the telecoms market, copyright and digital seconomytor in Europe and bring clear benefits to EU consumers and businesses; stresses, however, that trade strategies must ensure that non-EU companies do not take advantage of the fragmentation of the EU market, in light of the global nature of the digital economy and digital innovation, to bring clear benefits to EU consumers and businesses; therefore calls on the Commission to remove digital trade barriers and enable cross-border data flow within and outside the EU, within a stable and high standards framework on international data transfers; Underlines in this respect that data localisation requirements are affecting trade negatively and should be avoided; stresses, however, the urgent need to end the fragmentation of the EU market which undermines the competitiveness of the EU at global level;
Amendment 45 #
2015/2052(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to give careful consideration to the economic and social effects on the regions affected by a suspension of payments, as well as the Member State´s overall implementation record with respect to country-specific recommendations, recommendations to correct excessive macroeconomic imbalances under Regulation No. 1176/2011, provisions of a macroeconomic adjustment programme under Regulation No. 472/2013, measures and guidelines set following a decision by the Council in accordance with Article 136(1) of TFEU, and any conditions attached to financial assistance provided to a Member State under Council Regulation No. 407/201 or Council Regulation No. 332/2002, as considered over an appropriate period of time; underlines the importance of the principles of proportionality and effectiveness when the Commission proposes such a suspension of payments;
Amendment 6 #
2015/2010(INL)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the recent initiatives of the Commission and encourages Member States to tackle further tax fraud, tax evasion and tax avoidance, promoting clear and fair tax rulings, and combatting aggressive tax planning and re-launch; stresses that before reconsidering thea Common Consolidated Corporate Tax Base scheme, stressingcomprehensive research should be conducted on the different criteria on which such a scheme could be based, followed by an appropriate impact assessment; underlines the importance tof avoiding any increase in administrative burdens and cost of compliance;
Amendment 26 #
2015/2010(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Believes that fiscal policies and corporate taxation should be used as a tool to boost growth, jobs and development; believes that the UnionMember States must, by a more efficient, more transparent and fairer tax treatment for all companies, promote an attractive, competitive and balanced business environment that would allow businesses, including small and medium- sized enterprises, family businesses and self-employed people to operate simpler across the borders within the Union;
Amendment 39 #
2015/2010(INL)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that taxes must be paid where profits are made or value is created and where public services and infrastructures are usvalue is added;
Amendment 69 #
2015/2010(INL)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 71 #
2015/2010(INL)
Motion for a resolution
Recital Q
Recital Q
Q. whereas the revelations of the LuxLeaks scandal and the work carried out by the TAXE Committee clearly show the need for Union legislative measures to improve transparency, coordination and convergencecoordination at union level to improve transparency within corporate tax policies in the Union;
Amendment 79 #
2015/2010(INL)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Strongly believes that, with the objective of securing a global level playing field, the combat against tax fraud, tax evasion and tax avoidance should take place within a wider international context and in line with the OECD recommendations;
Amendment 97 #
2015/2010(INL)
Motion for a resolution
Recital T – point iii
Recital T – point iii
Amendment 119 #
2015/2010(INL)
Motion for a resolution
Recital T – point vii
Recital T – point vii
(vii) whereas the current Union-wide legal framework to protect whistleblowers is insufficient, and there exists significant variation between the ways in which different Member States provide protection for whistleblowers; whereas in the absence of such protection, those employees who hold vital information will understandably be reluctant to come forward and therefore that information will not be made available; whereas since whistleblowers helped to mobilise public attention on the issue of unfair taxation, Member States should consider measures that will protect such activity; whereas it would therefore be appropriate to offer Union-wide protection for whistleblowers who report suspected misconduct, wrongdoing, fraud or illegal activity to national regulators or, in cases of persistently unaddressed illegal activity that could affect the public interest, to the public as a whole; whereas such protection should be coherent with the overall legal system;
Amendment 134 #
2015/2010(INL)
Motion for a resolution
Recital U – point i
Recital U – point i
(i) whereas ait should be investigated by meandatorys of an impact assessment if a Union-wide Common Consolidated Corporate Tax Base (CCCTB) would be a major step towards solving those problems associated with aggressive tax planning within the Union; whereas the ultimate goal should remain a full, mandatory CCCTB with possible exemptions for small- and medium-sized enterprises and companies with no cross-border activity; whereas until a full CCCTB is in place, the Commission is considering temporary measures to counteract profit shifting opportunities; whereas it is necessary to ensure that those measures, including the offsetting of cross- border losses, do not increase the risk of BEPS;
Amendment 164 #
2015/2010(INL)
Motion for a resolution
Recital U – point ix
Recital U – point ix
(ix) whereas, in addition to the issues mentioned in this report, the Commission should clearly set out how it will implement all 15 of the OECD/G20 BEPS project deliverables, and consider in which areas the Union should go further than the minimum standards which the OECD recommends;
Amendment 175 #
2015/2010(INL)
Motion for a resolution
Recital V – introductory part
Recital V – introductory part
V. whereas improved coordination alone will not solve fundamental problems arising from the fact that different rules regarding corporate taxation exist in different Member States; whereas part of the overall response to aggressive tax planning must involve the convergence of a limited numberordination of national tax practices; whereas this can be achieved while still preserving the sovereignty of Member States in relation to other elements of their corporate tax systems;
Amendment 185 #
2015/2010(INL)
Motion for a resolution
Recital V – point iii
Recital V – point iii
(iii) whereas the Union should apply counter measures towards companies who make use of such tax havens; whereas this has already been called for in the European Parliament's Report on the Annual Tax Report 20148 , which asked for the 'introduction of strong sanctions to prevent companies breaching or dodging tax standards, by refraining from granting EU funding and access to state aid or to public procurement to fraudulent companies or companies located in tax havens or countries distorting competition with favourable tax conditions; urges MSs to recover all types of public support given to companies if they are involved in breaching EU tax standards'; __________________ 8 http://www.europarl.europa.eu/sides/getDo c.do?pubRef=-//EP//TEXT+REPORT+A8- 2015-0040+0+DOC+XML+V0//EN
Amendment 204 #
2015/2010(INL)
Motion for a resolution
Recital W
Recital W
W. whereas the overall efficiency of tax collection, the notion of tax fairness and the credibility of national tax administrations are not undermined only by aggressive tax planning and BEPS activities; whereas the UnionMember States should take similarly decisive action to address the problems of tax evasion and tax fraud within both corporate and individual taxation as well as problems relating to the collection of taxes other than corporate taxes; whereas those other elements of tax collection and administration represent a substantial part of the existing tax gap;
Amendment 218 #
2015/2010(INL)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 241 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 3
Annex – title 1 – subtitle 3
Amendment 262 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 - title
Annex – title 1 – subtitle 4 - title
Recommendation A4. Automatic exchange of information on tax rulings to be extended to all tax rulings and to a certain extent made public
Amendment 265 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 - indent 1
Annex – title 1 – subtitle 4 - indent 1
Amendment 271 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 - indent 2
Annex – title 1 – subtitle 4 - indent 2
Significantly increasing the transparency of tax rulings at the EU level, with due consideration given to business confidentiality and trade secrets and taking into account the current best practices applicable in some Member States via one of the following methods: ° requiring Member States or the Commission to produce an annual list, published in a fully public directory accessible to all, of companies with which they have concluded tax rulings, one year at the most after the tax ruling is signed by tax authorities ; ° requiring Member States or the Commission to publish a summary of the main important (anonymised) tax rulings that have been agreed in the previous year.
Amendment 281 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 – indent 3
Annex – title 1 – subtitle 4 – indent 3
Assuming full responsibility as proposed in the tax transparency package presented by the Commission on 18 March 2015, which includes the Commission ensuring that it plays a full and meaningful role in the mandatory exchange of information on tax rulings and the creation of a secure, anonymised central directory accessible by the Member States and the Commission concerning all tax rulings agreed in the Union.
Amendment 296 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 7 - introductory part
Annex – title 1 – subtitle 7 - introductory part
The European Parliament calls on the European CommissionMember States to bring forward a legislative proposal as follows:
Amendment 319 #
2015/2010(INL)
Motion for a resolution
Annex – title 2 – subtitle 1
Annex – title 2 – subtitle 1
The European Parliament calls on the European Commission to bring forward as soon as possible a legislative proposal for the introduction of a common corporate tax base: As a first step, by June 2016, a mandatory Common Corporate Tax Base (CCTB) in the Union, with an exemption for small- and medium-sized enterprises and companies with no cross-border activity, in order to have only one set of rules for companies operating in several Member States to calculate their taxable profits. As a second step, as soon as possible and certainly no later than the end of 2017, a mandatory CCCTB, taking into due consideration the range of different options (factoring in the costs, for example, of incorporating small and medium enterprises and companies with no cross-border activity); During the interim period between the introduction of mandatory CCTB and that of full CCCTB, a set of measures to reduce profit shifting (mainly via transfer pricing) including a Union anti-BEPS legislative proposal. These measures should include a temporary cross-border loss offset regime only if the Commission can guarantee that it will be transparent and will not create the possibility of misuse for aggressive tax planning. The Commission should consider to what extent it would be necessary to harmonise accounting principles in order to prepare the underlying accounting data to be used for CCCTB purposesinvestigate by means of an impact assessment the different possibilities of a common corporate tax base.
Amendment 359 #
2015/2010(INL)
Motion for a resolution
Annex – title 2 – subtitle 3 – indent 3
Annex – title 2 – subtitle 3 – indent 3
Amendment 372 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 1
Annex – title 3 – subtitle 1
Amendment 387 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 3
Annex – title 3 – subtitle 3
Amendment 394 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 4
Annex – title 3 – subtitle 4
Amendment 401 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 5
Annex – title 3 – subtitle 5
Amendment 403 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 6
Annex – title 3 – subtitle 6
Amendment 413 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 8 – indent 3
Annex – title 3 – subtitle 8 – indent 3
Amendment 415 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 8 – indent 4
Annex – title 3 – subtitle 8 – indent 4
Amendment 420 #
2015/2010(INL)
Motion for a resolution
Annex – title 4 – subtitle 1
Annex – title 4 – subtitle 1
Amendment 476 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 1
Article 15 – paragraph 1 – subparagraph 1
SMEs may choose to draw up a prospectus under the minimum disclosure regime for SMEs in the case of an offer of securities to the public provided that they have no securities admittedor an admission to trading on a regulated market.
Amendment 131 #
2015/0226(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) It is essential that competent authorities work closely togetha European supervisory body operates a third-party certification system in order to ensure a common and consistent understanding of the STS requirements throughout the Union and to address potential interpretation issues. In the light of this objective, the threeassigned regulatory body, along with the two other ESAs should, in the framework of the Joint Committee of the European Supervisory Authorities, coordinate their work and that of the competent authorities to ensure cross- sectoral consistency and assess practical issues which may arise with regards to STS securitisations. In doing so, the views of market participants should also be requested and taken into account to the extent possible. The outcome of these discussions should be made public on the websites of the ESAs so as to help originators, sponsors, SSPEs and investors assess STS securitisations before issuing or investing in such positions. Such a coordination mechanism would be particularly important in the period leading to the implementation of this Regulation.
Amendment 134 #
2015/0226(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Investments in or exposures to securitisations will not only expose the investor to credit risks of the underlying loans or exposures, but the structuring process of securitisations could also lead to other risks such as agency risks, model risk, legal and operational risk, counterparty risk, servicing risk, liquidity risk, concentration risk and risks of operational nature. Therefore, it is essential that institutional investors are subject to proportionate due diligence requirements ensuring that they properly assess the risks arising from all types of securitisations, to the benefit of end investors. Due diligence can thus also enhance confidence in the market and between individual originators, sponsors and investors. It is necessary that investors also exercise appropriate due diligence with regard to STS securitisations.. They can inform themselves with the information disclosed by the securitising parties, in particular the STS notification and the related information disclosed in this context, which should provide investors with all the relevant information on the way STS criteria are met. Institutional investors should be able to place appropriate reliance on the respective third-party certification agent for STS notification and the information disclosed by the originator, sponsor and SSPE on whether a securitisation meets the STS requirements.
Amendment 155 #
2015/0226(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) To ensure that investors perform robust due diligence and to facilitate the assessment of underlying risks, it is important that securitisation transactions are backed by pools of exposures that are homogenous in asset type, such as. These consist of the following: pools of residential loans, pools of commercial loans, trade receivables, leases and credit facilities to undertakings of the same category to finance capital expenditures or business operations, pools of auto loans and leases to borrowers or lessees or loans and pools of credit facilities to individuals for personal, family or household consumption purposes.
Amendment 162 #
2015/0226(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) Investors should perform their own due diligence on investments commensurate with the risks involved but they should be able to rely on theird-party STS nocertifications and on the information provided by the originator, sponsor and SSPE on STS compliance.
Amendment 164 #
2015/0226(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) The involvement of third partiean authorised third party in providing the STS certification as well as in helping to check compliance of a securitisation with the STS requirements may be usefuis critical for investors, originators, sponsors and SSPE's and could contribute to increase confidence in the market for STS securitisations. However, it is essential that investors make their own assessment, take responsibility for their investment decisions and do not mechanistically rely on such third parties.
Amendment 221 #
2015/0226(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point c
Article 3 – paragraph 1 – point c
(c) the originator, sponsor and SSPE make available the information required by Article 5 of this Regulation in accordance with the third-party certification agent as well as the frequency and modalities provided in that Article;
Amendment 226 #
2015/0226(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) with regard to securitisations designated as STS, whether the securitisation meets the STS requirements laid down in Articles 7 to 10 or Articles 11 to 14. Institutional investors may place appropriate reliance on the third-party certification agent and on the STS notification pursuant to Article 14 (1) and on the information disclosed by the originator, sponsor and SSPE on the compliance with the STS requirements.
Amendment 241 #
2015/0226(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
The originator, sponsor or the original lender of a securitisation shall retain on an ongoing basis a material net economic interest in the securitisation of not less than 5 %, which shall be measured at the origination and shall be determined by the notional value for off-balance sheet items. Where the originator, sponsor or the original lender have not agreed between them who will retain the material net economic interest, the originator shall retain the material net economic interest. There shall be no multiple applications of the retention requirements for any given securitisation. The material net economic interest shall be measured at the origination and shall be determined by the notional value for off-balance sheet items. The material net economic interest shall not be split amongst different types of retainers and not be subject to any credit risk mitigation or hedging.
Amendment 332 #
2015/0226(COD)
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The securitisation shall be backed by a pool of underlying exposures that are homogeneous in terms of asset type. These consist of the following: pools of residential loans, pools of commercial loans, trade receivables, leases and credit facilities to undertakings of the same category to finance capital expenditures or business operations, pools of auto loans and leases to borrowers or lessees or loans and pools of credit facilities to individuals for personal, family or household consumption purposes. The underlying exposures shall be contractually binding and enforceable obligations with full recourse to debtors, with defined periodic payment streams relating to rental, principal, interest payments, or related to any other right to receive income from assets warranting such payments. The underlying exposures shall not include transferable securities, as defined in Directive 2014/65/EU.
Amendment 408 #
2015/0226(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. Originators, sponsors and SSPE's shall jointly notify ESMA by means of the template referred to in paragraph 5 of this Article that the securitisation meets the requirements of Articles 7 to 10 or Articles 11 to 13 of this Regulation ('STS notification'). ESMA shall provide authorisation to the respective third party agent that will determine STS compliance. ESMA shall also publish the STS notification on its official website pursuant to paragraph 4. They shall also and inform their competent authority. The originator, sponsor and SSPE of a securitisation shall designate amongst themselves one entity to be the first contact point for investors and competent authorities.
Amendment 183 #
2015/0149(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The European Union is committed to building an Energy Union with a forward looking energy and climate policy. Energy efficiency is a crucial element of the European Union's 2030 Climate and Energy Policy Framework and is key to moderate energy demand.
Amendment 188 #
2015/0149(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Energy efficiency labelling allows consumers to make informed choices with regard to energy consumption of products and thereby promotes innovation and gives an incentive to producers to develop more energy efficient products.
Amendment 211 #
2015/0149(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The provision of accurate, relevant and comparable information on the specific energy consumption of energy-related products facilitates the customer's choice in favour of those products which consume less energy and other essential resources during use. A standardised mandatory label is an effective mean to provide potential customers with comparable information on the energy consumption of energy-related products. It should be supplemented with a product information sheet. The label should be easily recognisable, simple and concise. To this end the existing dark green to red colour scale of the label should be retained as the basis to inform customers about the energy efficiency of products. A classification using letters from A to G has shown to be most effective for customers. In situations where because of ecodesign measures under Directive 2009/125/EC products can no longer fall into classes 'F' or 'G', those classes should not be shown on the label. For exceptional cases this should also be extended to the 'D' and 'E' classes, although this situation is unlikely to occur given that the label would be rescaled once a majority of product models falls into the top two classeA uniform application of this A to G scale across products groups should raise transparency and understanding among customers.
Amendment 231 #
2015/0149(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Advances in digital technology allow for alternative ways of delivering and displaying labels electronically, such as on the internet, but also on electronic displays in shops. In order to take advantage of such advances, this Regulation should allow the use of electronic labels as replacement of or complementary to the physical energy label. In cases where it is not feasible to display the energy label, such as certain forms of distance selling and in advertisements and technical promotional material, potential customers should be provided at least with the energy class of the product.
Amendment 246 #
2015/0149(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Manufacturers respond to the energy label by creating ever more efficient products. This technological development leads to products populating mainly the highest classes of the energy label. Further product differentiation may be necessary to allow customers a proper comparison, leading to the need to rescale labels. For the frequency of such rescaling a timescale of approximately ten years would be appropriate, taking into account the need to avoid over burdening manufacturers and dealers. This Regulation should therefore lay down detailed arrangements for rescaling in order to maximise legal certainty for suppliers and dealers. A newly rescaled label should have empty top classes to encourage technological progress and enable ever more efficient products to be developed and recognised. When a label is rescaled, confusion to customers should be avoided by replacing all energy labels within a short and feasible timeframe.
Amendment 247 #
2015/0149(COD)
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) The frequency of such rescaling should be determined by the percentage of products sold that fall in the top class and should take into account the need to avoid over burdening suppliers and dealers, as well as the speed of technological progress. A newly rescaled label shall have two empty top classes to encourage technological progress. In exceptional cases, where technology is expected to develop more slowly, the newly rescaled label shall have only one empty top class to take into account the time it takes to fill up the top class.
Amendment 253 #
2015/0149(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) In the case of a rescaled label, suppliers should provide both the old and the rescaled labels to dealers during a certain period. Due to different stock and shelve life of different products groups, it is appropriate for this period to be determined by way of a delegated act. The replacement of the existing labels on products on display, including on the Internet, with the rescaled labels should take place as quickly as possible after the date of replacement specified in the delegated act on the rescaled label. Dealers should not display the rescaled labels before the date of replacement.
Amendment 255 #
2015/0149(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) In order to take the burden for dealers into account during the relabeling process, dealers will be allowed to have only one clearly visible rescaled label present for a group of identical products. This would apply in cases when the label is printed on the packaging, such as in the case of lightbulbs, or when products are displayed together in a large quantity;
Amendment 265 #
2015/0149(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure legal certainty, it is necessary to clarify that rules on Union market surveillance and control of products entering the Union market provided for in Regulation (EC) No 765/2008 of the European Parliament and of the Council21 apply to energy-related products. Given the principle of free movement of goods, it is imperative that the market surveillance authorities of the Member States cooperate with each other effectively. Such cooperation on energy labelling should be reinforced and incentivized through support by the Commission. __________________ 21 OJ L 218, 13.8.2008, p. 30. OJ L 218, 13.8.2008, p. 30.
Amendment 266 #
2015/0149(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Market surveillance authorities should share the outcome of their test results. Where up until now only infractions were communicated to other member states and the Commission, they should also communicate when a test result did not prove an infraction. This should avoid unnecessary double testing and result in a more efficient use of scarce resources. Eventually a European market surveillance authority should be established to optimise market surveillance in a cost-efficient manner.
Amendment 270 #
2015/0149(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In order to facilitate the monitoring of compliance and to provide up-to-date market data for the regulatory process on revisions of product-specific labels and information sheets, suppliers should provide their product compliance information electronically in a database established by the Commission. The information should be made publicly available to provide information for customers and to allow for alternative ways for dealers to receive labels. Market surveillance authorities should have access to the information in the databaseThe Commission shall set up a publicly accessible database with a range of freely available information. This will be open data so as to give app developers and other comparison tools the opportunity to use this information.
Amendment 282 #
2015/0149(COD)
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The Commission shall also set up and maintain an online portal that provides market surveillance authorities access to detailed product information on the servers of producers. The Commission and market surveillance authorities will have very targeted and narrowly defined access for specific queries, and they will not have the possibility to conduct open searches on these servers.
Amendment 291 #
2015/0149(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Energy consumption and other information concerning the products covered by product-specific requirements under this Regulation should be measured by using reliable, accurate and reproducible methods that take into account the generally recognised state-of- the-art measurements and calculation methods. These methods should simulate real-life use as close as possible. It is in the interests of the functioning of the internal market to have standards which have been harmonised at Union level. In the absence of published standards at the time of application of product-specific requirements the Commission should publish in the Official Journal of the European Union transitional measurement and calculation methods in relation to those product-specific requirements. Once a reference to such a standard has been published in the Official Journal of the European Union compliance with it should provide a presumption of conformity with measurement methods for those product- specific requirements adopted on the basis of this Regulation.
Amendment 331 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 11
Article 2 – paragraph 1 – point 11
(11) ‘Energy-related product’ means any good or system or service with an impact on energy consumption during use, which is placed on the market and put into service in the Union, including parts to be incorporated into energy-related products covered by this Regulation which are placed on the market and put into service; as individual parts for end-users and of which the environmental performance can be assessed independently;
Amendment 345 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 13
Article 2 – paragraph 1 – point 13
(13) ‘Label’ means a graphic diagram including, in printed or electronic form, including, amongst others, a classification using letters from A to G in seven different colours from dark green to red in order to show consumption of energy;
Amendment 351 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 18
Article 2 – paragraph 1 – point 18
(18) 'Rescale' means a periodic exercise to make more stringent the requirements for achieving the energy class on a label for a particular product, which, for existing labels may imply the deletion of certain energy classes;
Amendment 356 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 19
Article 2 – paragraph 1 – point 19
(19) 'Rescaled label' means a label based on a new design for a particular product that has undergone a rescaling exercise and is clearly distinguishable to the end-user from the previous label.
Amendment 409 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) they shall display in a visible manner, including in online sales, the label provided by the supplier or otherwise made available for a product covered by a delegated act;
Amendment 410 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point a a (new)
Article 3 – paragraph 2 – point a a (new)
(aa) they shall be allowed to sell energy- related products without a label or a rescaled label, only where a (rescaled) label has never been produced for a given product and the supplier of this product is no longer active on the market;
Amendment 438 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point a
Article 3 – paragraph 3 – point a
(a) they shall make reference to the energy efficiency class of the product in anyll visual advertisement or technical promotional material for a specific model of productss dedicated to the specific product, which provide the consumer with sufficient information to make a purchasing decision, in accordance with the relevant delegated act;
Amendment 459 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States shall ensure that the introduction of labels including rescaled labels and product information sheets is accompanied by educational and promotional information campaigns aimed at promoting energy efficiency and more responsible use of energy by customers, if appropriate in cooperation with dealers. The Commission shall support cooperation and the exchange of best practices in relation to these campaigns.
Amendment 464 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Member States shall shall lay down the rules on penalties and enforcement mechanisms applicable to infringements of the provisions of this Regulation and its delegated acts, and shall take all measures necessary to ensure that they are implemented. The penalties must be effective, proportionate and dissuasive and relative to the economic advantage of incompliance. Member States shall notify those provisions to the Commission by the date of application of this Regulation and shall notify without delay any subsequent amendment affecting them.
Amendment 466 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 5 a (new)
Article 4 – paragraph 5 a (new)
5a. The Commission shall assess used penalties and publish recommendations with the aim of creating a level playing field and having Member States impose penalties of the same impact to market players.
Amendment 470 #
2015/0149(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The Commission shall support and incentivise cooperation and exchange of information on market surveillance of energy labelling of products among national authorities of the Member States responsible for market surveillance or external border controls and between such authorities and the Commission, including when test results indicated that the producer is in compliance with the relevant legislation.
Amendment 476 #
2015/0149(COD)
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. The Commission may independently test the energy performance of products and verify compliance. The Commission may engage a third party for this purpose.
Amendment 488 #
2015/0149(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Where the market surveillance authorities of one Member State have sufficient reason to believe that an energy- related product covered by a delegated act under this Regulation presents a risk to aspects of public interest protection covered by this Regulation, they shall carry out an evaluation in relation to the energy- related product concerned covering all the requirements laid down in this Regulation and its relevant delegated acts. The supplier shall cooperate as necessary with the market surveillance authorities for that purpose.
Amendment 503 #
2015/0149(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where the mMarket surveillance authorities consider that non-compliance is not restricted to their national territory, they shall inform the Commission and the other Member States of the results of the evaluation and of the actions which they have required the supplier to take.
Amendment 523 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
Amendment 534 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The Commission shall ensure that, when a label is introduced or rescaled, the requirements are laid downtechnological advancement of the product is taken into account so that no products are expected to fall in energy classes A or B at the moment of the introduction of the label and so that the estimated time within which a majority of models. In the case of products where technology is expected to develop relatively slowly, no products are expected to falls into those classes shall be at least ten years later energy class A at the moment of the introduction of the label.
Amendment 548 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Labels shall be re-scaled periodicallywhen technological progress in the relevant product group makes it appropriate. The Commission shall carry out a preparatory study and shall consult the relevant stakeholders in advance with the aim of launching a label review process. It shall review the label once it: (a) estimates that 30 percent of the products sold within the Union market fall into the top energy class and further technological development can be expected soon; or (b) demonstrates that after the functioning of the existing label for eight years with the current division of classes, the conditions in point (a) are unlikely to be fulfilled within the following five years.
Amendment 568 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 5 – point a
Article 7 – paragraph 5 – point a
(a) suppliers shall provide both the current and the rescaled labels to dealers for a period of six months before the date specified in paragraph (b). for a period determined in the relevant delegated act
Amendment 605 #
2015/0149(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
The Commission shall establish and maintain a product database including the information referred to in Annex I. Tublicly accessible product database. This database shall contain the information listed under point 1 of Annex I shall be made publicly available.
Amendment 612 #
2015/0149(COD)
Proposal for a regulation
Article 8 – paragraph 1 a (new)
Article 8 – paragraph 1 a (new)
The Commission shall also establish and maintain an online portal which gives market surveillance authorities and the Commission access to the compliance information listed under point 2 of Annex I. Producers will keep this information on their servers in a manner which makes it possible for market surveillance authorities and the Commission through specific and targeted queries. This access shall only be used for market surveillance purposes. The Commission will ensure a sufficient level of security and the Commission and the market surveillance authorities shall ensure the safeguarding of confidential information.
Amendment 635 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 2 – point c a (new)
Article 12 – paragraph 2 – point c a (new)
(ca) the Commission shall take into account relevant Union legislation and self-regulation, such as voluntary agreements, which are expected to achieve the policy objectives more quickly or at lesser expense than mandatory requirements.
Amendment 644 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point d
Article 12 – paragraph 3 – subparagraph 1 – point d
(d) the locations where the label shall be displayed, such as attached to the product (as long as this will not lead to any damage done to the product), printed on the packaging, provided in electronic format or displayed on line, taking into account different requirements for standard sized websites vis-à-vis mobile websites or applications;
Amendment 658 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point j
Article 12 – paragraph 3 – subparagraph 1 – point j
(j) the specific indication of the energy class to be included in visual advertisements and technical promotional material, including requirements for this to be in a legible and visible form;
Amendment 663 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point m
Article 12 – paragraph 3 – subparagraph 1 – point m
(m) the format of any additional references, such as QR codes, on the label allowing customers to access through electronic means more detailed information on the product performance included in the product information sheet;
Amendment 671 #
2015/0149(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
No later than eight years after the entry into force, the Commission shall assess the application of this Regulation and transmit a report to the European Parliament and the Council. That report shall assess how effectively this Regulation has allowed customers to choose more efficient products, taking into account criteria such as its impacts on business, the impact on total energy consumption, the cost of the database and the impact on the effectiveness of market surveillance authorities control activities.
Amendment 687 #
2015/0149(COD)
Proposal for a regulation
Annex I – part 2 – point b
Annex I – part 2 – point b
Amendment 58 #
2015/0148(COD)
Proposal for a directive
Recital 4
Recital 4
(4) It is a key Union priority to establish a resilient Energy Union to provide secure, sustainable, competitive and affordable energy to its citizens. Achieving this requires continuation of ambitious climate action with the EU ETS as the cornerstone of Europe’s climate policy, and progress on the other aspects of Energy Union17, while ensuring that these other aspects, such as those related to energy efficiency and renewable energy sources, enhance the goals of the EU ETS and do not undermine its market effectiveness. Implementing the ambition decided in the 2030 framework contributes to delivering a meaningful carbon price and continuing to stimulate cost-efficient greenhouse gas emission reductions. __________________ 17 COM(2015)80, establishing a Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy
Amendment 4 #
2015/0076(NLE)
Draft legislative resolution
Paragraph 2
Paragraph 2
2. Calls upon the Commission to assess, three years after the date of entry into force of this Agreement, the application of this Agreement and its outcome, and present a report to the European Parliament and the Council, accompanied where appropriate by proposals for its review;
Amendment 50 #
2015/0068(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) In order to reap the benefits of the mandatory automatic exchange of advance cross-border rulings and advance pricing arrangements, the information should be communicated promptly after they are issued and therefore regular intervals for the communication of the information should be established.
Amendment 105 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 1
Article 8a – paragraph 1
1. The competent authority of a Member State issuing or amending an advance cross-border ruling or an advance pricing arrangement after the date of entry into force of this Directive shall, by automatic exchange, communicate information thereon to the competent authorities of all other Member States involved as well as to the European Commission.
Amendment 112 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 2
Article 8a – paragraph 2
2. The competent authority of a Member State shall also communicate information to the competent authorities of all other Member States involved as well as to the European Commission on advance cross-border rulings and advance pricing arrangements issued within a period beginning ten years before the entry into force but still valid on the date of entry into force of this Directive;
Amendment 93 #
2015/0009(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment slows economic recovery and negatively affects structural job creation, long-term growth prospects and competitiveness.
Amendment 123 #
2015/0009(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy, that put in place an approach for smart, sustainable and inclusive growth, and through the European Semester for economic policy coordination. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects.
Amendment 137 #
2015/0009(COD)
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) Points out that the effectiveness of additional investment is dependent on the competitiveness and efficiency of a country's economy and on investors' confidence in the sustainability of a country's public finances, and therefore believes that a country should only be eligible to receive funds under the European Fund for Strategic Investment if the Commission in its assessment of Member States' Draft Budgetary Plans deems that: i. the country is in compliance with the Stability and Growth Pact or the Excessive Deficit Procedure recommendations; and ii. the country has made sufficient progress in the implementation of its Country-Specific Recommendations.
Amendment 231 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission shall conclude annegotiate a draft agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI') in line with the requirements of this Regulation.
Amendment 253 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States, under the terms laid out in the EFSI Agreement. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 255 #
2015/0009(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote structural job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 257 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. The Commission shall be empowered to enter into the EFSI Agreement on behalf of the Union by means of a delegated act in accordance with Article 17, provided that the EFSI Agreement meets the requirements of this Regulation.
Amendment 261 #
2015/0009(COD)
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a Definitions For the purposes of this Regulation only, the following definitions apply: (a) 'national promotional banks or institutions' means legal entities carrying out financial activities on a professional basis which are conferred a mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities; (b) 'investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means via which entities channel a financial contribution in order to finance a number of investment projects; (c) 'small and medium-sized enterprises' or 'SMEs' means micro, small and medium-sized enterprises as defined in Recommendation 2003/361/EC. (d) 'mid-cap companies' means legal entities having up to 3000 employees which are not SMEs. (e) 'EFSI Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI. (f) 'EIAH Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the implementation of EIAH. (g) 'additionality' means the support by the EFSI of operations which address market failures or sub-optimal investment situations and which could not have been carried out in that period under normal EIB instruments without EFSI support or to the same extent during that period under EIF and EU instruments. The projects supported by the EFSI, while striving to create jobs and growth, shall typically have a higher risk profile than projects supported by normal EIB operations and the EFSI portfolio shall have overall a higher risk profile than the current portfolio of investments supported by the EIB under its normal investment policies.
Amendment 297 #
2015/0009(COD)
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Article 2a Eligibility criteria for the use of the EU guarantee The EFSI Agreement shall provide that EFSI is to support projects which: (a) are consistent with Union policies, (b) are economically and technically viable, (c) provide additionality, and (d) maximise where possible the mobilisation of private sector capital.
Amendment 303 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 306 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 309 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
The Managing Director shall report every quarter on the activities of the EFSI to the Steering Board and the European Parliament.
Amendment 331 #
2015/0009(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee shouldall carry out its responsibilities fully independently and in line with the criteria set out in this Regulation, as this is key to protect the EIB´s credit rating and ensure the trust and participation of the private sector in the Investment Plan. The Investment Committee shall not take any instructions from third entities regarding the selection of individual projects to be funded by EFSI, but shall be accountable to a Steering Board of the EFSI, who should supervises the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI shouldall support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 332 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraphs 2 a, 2 b and 2 c (new)
Article 3 – paragraph 5 – subparagraphs 2 a, 2 b and 2 c (new)
The experts of the Investment Committee shall be appointed following an open and transparent selection procedure. In appointing the experts to the Investment Committee, the Steering Board shall ensure that the composition of the Investment Committee is diversified, so as to ensure that it has a wide knowledge of the sectors covered in Article 2a and geographic markets within the Union. The Steering Board of the EFSI shall supervise the fulfilment of the EFSI’s objectives. When participating in the activities of the Investment Committee its members shall perform their duties impartially and in the interests of the EFSI. When implementing the guidelines adopted by the Steering Board and taking decisions on the use of the EU guarantee, they shall not seek nor take instructions from the EIB, the Union institutions, the Member States or any other public or private body. Adequate organisational arrangements shall be in place to ensure operational independence of the Investment Committee, without prejudice to the provision of analytical, logistical and administrative support by the staff of the EIB to the Investment Committee.
Amendment 376 #
2015/0009(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 376 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, including research infrastructure; information and communications technology and innovation;
Amendment 419 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) any project covered by the objectives set out in Article 3 and 4 of Regulation (EU) No 1316/2013
Amendment 420 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
(eb) any project covered by the objectives set out in Article 5 of Regulation(EU) No 1291/2013
Amendment 423 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms, and national promotional banks, Alternative Investment Fund Managers (AIFM), which manage alternative investment funds (AIFs) authorised in accordance with Directive 2011/61/EU, managers of collective investment undertakings authorised in accordance with Regulation (EU) No 345/2013 (qualifying venture capital funds) and managers of collective investment undertakings in accordance with Regulation (EU) No 346/2013 (qualifying social entrepreneurship funds), via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, the Steering Board shall specify policies regarding eligible investment platforms. , AIFs, qualifying venture capital and social entrepreneurship funds.
Amendment 433 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
EIB financing and investment opportunities on the territory of a Member State according to this Regulation shall only be approved if the relevant Member State is in compliance with Council recommendations under Regulation (EC) No 1466/97, Regulation (EU) No 1176/2011 and has made significant progress regarding the country specific recommendations under the European Semester.
Amendment 451 #
2015/0009(COD)
Proposal for a regulation
Recital 26 a (new)
Recital 26 a (new)
(26a) In order to guarantee the successful and timely development of financed projects, and therefore to maximise their effectiveness in creating jobs and growth, the Commission shall draft a European Crisis and Recovery Regulation, which should temporarily exempt infrastructural projects financed by EFSI from existing EU legislation that causes delay as a result of administrative procedures, mainly concerning appeal procedures and reporting on compliance with existing legislation. This European Crisis and Recovery Regulation should shorten administrative procedures in a fashion fitting the present urgency presented by the economic situation in Europe. The Commission shall put forward a proposal for a European Crisis and Recovery Regulation to the Council and the European Parliament no later than three months after the adoption of the present regulation.
Amendment 474 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020re should be a reduction to the envelopes of the different European Structural and Investment Funds, provided by Regulation (EU) No 1291303/2013 of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006. __________________ 2 Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Research and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
Amendment 484 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment of the added value, the mobilisation of private sector resources, the estimated and actual outputs, outcomes and impact of EIB financing and investment operations at an aggregated basis;, and by project level where disclosure of data is allowed.
Amendment 494 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. At the request of the European ParliamenOn a quarterly basis or upon specific request, the Managing Director shall participate in a hearing of the European Parliament on the performance of the EFSI.
Amendment 519 #
Amendment 522 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Amendment to Regulation (EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884).rticle 19 deleted 1316/2013
Amendment 526 #
2015/0009(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment slows economic recovery and negatively affects structural job creation, long-term growth prospects and competitiveness.
Amendment 527 #
2015/0009(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy, that put in place an approach for smart, sustainable and inclusive growth, and through the European Semester for economic policy coordination. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects.
Amendment 528 #
2015/0009(COD)
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) Points out that the effectiveness of additional investment is dependent on the competitiveness and efficiency of a country's economy and on investors' confidence in the sustainability of a country's public finances, and therefore believes that a country should only be eligible to receive funds under the European Fund for Strategic Investment if the Commission in its assessment of Member States' Draft Budgetary Plans deems that: i. the country is in compliance with the Stability and Growth Pact or the Excessive Deficit Procedure recommendations; and ii. the country has made sufficient progress in the implementation of its Country-Specific Recommendations.
Amendment 529 #
2015/0009(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote structural job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 530 #
2015/0009(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee shouldall carry out its responsibilities fully independently and in line with the criteria set out in this Regulation, as this is key to ensure the trust and participation of the private sector in the Investment Plan. The Investment Committee shall not take any instructions from third entities regarding the selection of individual projects to be funded by EFSI, but shall be accountable to a Steering Board of the EFSI, who should supervises the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI shouldall support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 531 #
2015/0009(COD)
Proposal for a regulation
Recital 26 a (new)
Recital 26 a (new)
(26 a) In order to guarantee the successful and timely development of financed projects, and therefore to maximise their effectiveness in creating jobs and growth, the Commission shall draft a European Crisis and Recovery Regulation, which should temporarily exempt infrastructural projects financed by EFSI from existing EU legislation that causes delay as a result of administrative procedures, mainly concerning appeal procedures and reporting on compliance with existing legislation. This European Crisis and Recovery Regulation should shorten administrative procedures in a fashion fitting the present urgency presented by the economic situation in Europe. The Commission shall put forward a proposal for a European Crisis and Recovery Regulation to the Council and the European Parliament no later than three months after the adoption of the present regulation.
Amendment 532 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020re should be a reduction to the envelopes of the different European Structural and Investment Funds, provided by Regulation (EU) No 1291303/2013 of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006. __________________ 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
Amendment 533 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point a – point i (new)
Article 8 – paragraph 2 – point a – point i (new)
Amendment 534 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 6 – subparagraph 1
Article 8 – paragraph 6 – subparagraph 1
By 31 December 2018, and every year thereafter, the Commission shall review the adequacy of the level of the guarantee fund taking into account any reduction of resources resulting from the activation of the guarantee and the EIB's assessment submitted in accordance with Article 10(3). Under no circumstances the budgets of Horizon2020 and the Connecting Europe Facility may be further impacted by the outcome of this review.
Amendment 535 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 50% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it. In the case that such a report is drafted, under no circumstances may the budgets of Horizon2020 and the Connecting Europe Facility be further impacted by its contents.
Amendment 595 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States, under the terms laid out in the EFSI Agreement. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities. The Member States and other third parties may not take part in the EFSI governance structure.
Amendment 692 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. Eligibility criteria for the use of the EU guarantee 1. The EFSI Agreement shall provide that EFSI is to support projects which: (a) are consistent with Union policies, (b) are economically and technically viable, (c) provide additionality, and (d) maximise where possible the mobilisation of private sector capital.
Amendment 837 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
The EFSI Agreement shall provide that the EFSI shall have an Investment Committee, which shall be responsible for examining potential operations in line with the EFSI investment policies and approving the support of the EU guarantee for operations in line with Article 5, irrespective of their geographic location. The Investment Committee shall carry out its responsibilities fully independently and in line with the criteria set out in this Regulation, as this is key to ensure the trust and participation of the private sector in the Investment Plan and to safeguard the EIB´s credit rating. The Investment Committee shall not take any instructions from third entities regarding the selection of individual projects to be funded by EFSI, but shall be accountable to a Steering Board of the EFSI, which supervises the fulfilment of the EFSI's objectives.
Amendment 1128 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point a – point i (new)
Article 8 – paragraph 2 – point a – point i (new)
i) To partially finance the contribution from the Union budget, there should be a reduction to the envelopes of the different European Structural and Investment Funds, provided by Regulation (EU) No 1303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006.
Amendment 1165 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 6 – subparagraph 2
Article 8 – paragraph 6 – subparagraph 2
The Commission shall be empowered to adopt delegated acts in accordance with Article 17 adjusting the target amount provided for in paragraph 5 by a maximum of 10% to better reflect the potential risk of the EU guarantee being called. Under no circumstances the budgets of Horizon2020 and the Connecting Europe Facility may be further impacted by the outcome of this review.
Amendment 1174 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 50% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it. In the case that such a report is drafted, under no circumstances may the budgets of Horizon2020 and the Connecting Europe Facility be further impacted by its contents. In the case that such a report is drafted, under no circumstances may the budgets of Horizon2020 and the Connecting Europe Facility be further impacted by its contents.
Amendment 14 #
2014/2228(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls on the Commission to maintain the objective of including a specific energy chapter in the TTIP which could significantly increase the EU’s energy securityith the aim to create a competitive, transparent and non- discriminatory market, which ensures enhanced energy supply security for the EU, encourages trade and competitiveness and provides for affordable energy prices, while upholding existing high environmental standards;
Amendment 45 #
2014/2228(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Requests that the Commission ensure a policy of free trade with respect to fuels, including LNG and crude oil, crude oil and hard coal through eliminating export restrictions, facilitating market access and removing barriers to Foreign Direct Investment;
Amendment 101 #
2014/2228(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Points to the huge differentials between the USA and the EU in energy prices but also in per capita CO2 emissions; calls on the Commission, therefore, to provide energy-intensive and carbon-leakage sectors in the EU, including the chemicals industry, with appropriate measures maintaining current tariff rates over the longest possible period after the entry into force of the TTIP;
Amendment 133 #
2014/2228(INI)
Draft opinion
Paragraph 5 – point 1 (new)
Paragraph 5 – point 1 (new)
(1) Expects that the priorities and concerns of SMEs will be fully addressed in a specific SME chapter; urges that the needs of SMEs will be fully taken into account as concerns regulatory coherence;
Amendment 137 #
2014/2228(INI)
Draft opinion
Paragraph 5 – point 3 (new)
Paragraph 5 – point 3 (new)
(3) Calls on the Commission to ensure user friendly rules of origin (ROO) that can be easily applied by EU exporters and to minimise unnecessary obstacles to trade and red-tape created by ROO, especially for SMEs;
Amendment 156 #
2014/2228(INI)
Draft opinion
Paragraph 6 – point 1 (new)
Paragraph 6 – point 1 (new)
(1) Expects the Commission to address in the negotiations the issue of „buy American", "Jones" and „domestic content" Act which in practice significantly handicap EU companies in access to the US market, especially in the dredging and engineering sector.
Amendment 163 #
2014/2228(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Reminds the Commission, while welcoming the potential benefits of regulatory alignment and mutual recognition, including the establishment of common principles in standards and technical specifications in the area of ICT, about the importance of maintaining high levels of safety and security;. Encourages the Commission to work on seeking regulatory alignment in sectors that are of particular interest of the EU industry, such as automotive (final products and components), engineering (including highly sophisticated products) and chemical sectors. This should result, wherever appropriate, in the recognition of equivalence of existing regulations; (proposing to delete ,,in the area of ICT", as this should apply en bloc)
Amendment 86 #
2014/2221(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that the effectiveness of additional investment is dependent on the competitiveness and efficiency of a country's economy and on investors' confidence in the sustainability of a country's public finances, and therefore believes that a country should only be eligible to receive funds under the European Fund for Strategic Investment if the Commission in its assessment of Member States' Draft Budgetary Plans deems that: i. the country is in compliance with the Stability and Growth Pact or the Excessive Deficit Procedure recommendations; and ii. the country has made sufficient progress in the implementation of its Country-Specific Recommendations.
Amendment 88 #
2014/2221(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Stresses that there should be a special regime for SME:s to the Investment Fund in order to create a level-playing field as SME:s easily are put into disadvantage due to their size and market position.
Amendment 103 #
2014/2221(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines the fact that the overall indebtedness of Member States in the euro area is not only an obstacle to growth but also puts a huge burden on future generations;
Amendment 111 #
2014/2221(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ambitious structural reforms implemented by those Member States most affected by the crisis; welcomes as well the fact that those Member States that have successfully implemented adjustment programmes or financial sector programmes have been able to return to the capital markets, where they now access capital at low interest rates; finds it regrettable that the Member States in the rest of the euro area are less ambitious in modernising their economies;
Amendment 5 #
2014/2211(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
- having regard to the Commission communication of 28 May 2015 entitled 'European Energy Security Strategy (COM 2014/0330),
Amendment 22 #
2014/2211(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the European base metals industry, in particular steel and aluminium, plays a key role in the EU economy, forming a backbone of European industry
Amendment 24 #
2014/2211(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas energy prices in Europe are higher than in a number of other economies, mainly due to insufficient energy market integration, rising taxes, levies and network costs and significantly restrict the competitiveness of the European base metals industry in the global market;
Amendment 27 #
2014/2211(INI)
Motion for a resolution
Recital A f (new)
Recital A f (new)
Af. whereas the European base metals industry faces serious investment leakage to third countries, mainly driven by comparably high energy prices and carbon cost;
Amendment 32 #
2014/2211(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the successive closures of European aluminium electrolysis plants show that Europe is facing rapidly deindustrialising when it comes to this metalation in this sector;
Amendment 40 #
2014/2211(INI)
Motion for a resolution
Recital C
Recital C
C. whereas when the emissions permits under the European emission allowance trading scheme (ETS) become more expensive, a full-blown competition crisis is liable to ariseEU environment policies can create a challenging business environment for the base metals industry, making it difficult for businesses to stay competitive on a global level; therefore the European emission allowance trading scheme (ETS) is in urgent need of reforms;
Amendment 79 #
2014/2211(INI)
Motion for a resolution
Subheading 1
Subheading 1
The overriding need to act on climate change and high energy prices
Amendment 92 #
2014/2211(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. UStresses that a redesign of the current ETS system constitutes one of the most pressuring issues in order to ensure the competitiveness of the base metals industry; understands that the European Commission has launched discussions which will culminate in the reform of the ETS for the fourth period 2021-2028 and calls, in this connection, for the fight against climate change to focus on efficiencyreform to include the issue of carbon leakage and promote efficiency, industrial innovation and optimisingation of yields rather than on limiting production;
Amendment 98 #
2014/2211(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission, therefore, to amend the system for allocating emissions allowances via extensive application of the assessment used for the reference values applicable to industry, which are based on greenhouse gas emissions per tonne produced and not per facility, as it is the cleanest plants which are needed to produce moreso that sectors at risk of carbon leakage will be provided with 100% free allocation at the level of the 10% best performing installations, based on technically and economically achievable benchmarks; calls in this regard for the allocation of allowances to be based on greenhouse gas emissions per tonne produced and not per facility in order to incentivise production and promote growth for carbon-efficient installations;
Amendment 105 #
2014/2211(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls also for abolition of the applicain this context for the abolition of the cross-sectoral correction factor to the industries concerned in order to promote the virtuous practices of industrialists and workers who have made the necessary efforts to achieve minimum emissions by adopting the best available techniquesfor carbon-leakage industries as this imposes additional costs on even the most efficient installations in the EU;
Amendment 109 #
2014/2211(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Believes that, instead of abolishing the compensation for indirect emissions for the base metals industry, increasing the recycling of base metals should be the principal way to ensure environmental progress for the sector, keeping in mind that the process of electrolysis is highly energy intensive; stresses that most base metals can be recycled many times against a fraction of the energy used for primary production; is concerned by the large energy loss for Europe caused by the legal and illegal export of aluminium and copper to countries like China and India, states which have installed aluminium export bans themselves; (Faraday´s law of electrolysis states that the volume of base metal produced by electrolysis is directly equal to the amount of electricity consumed in the process. Achieving much higher levels of energy efficiency is therefore impossible for the base metals industry. Recycling some base metals, on the other hand, consumes much less energy. As an example, recycling aluminium costs around 5% of the electricity used to produce it; in the case of copper this is around 15%. Therefore, aluminium and copper can be seen as 'energy banks'.)
Amendment 119 #
2014/2211(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes that energy prices in Europe are considerably higher than in third countries, especially the US, making energy-intensive industries such as the base metal sector less competitive on the global market; welcomes the Commission proposal on the European Energy Union; believes that a well-functioning internal energy market that delivers secure and sustainable energy and ensures adequate interconnections of Member States will help to lower energy prices for European industry and consumers; emphasises in this connection that an ambitious energy chapter in TTIP could contribute to increased energy security and affordable energy prices in Europe;
Amendment 130 #
2014/2211(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Understands that the Commission has launched discussions for a proposal on the promotion of the circular economy; stresses the importance of a life cycle approach in the EUs climate and energy policies; highlights in this context the positive impact of secondary metals, which help to significantly reduce energy and raw material input; calls therefore on the Commission to facilitate the development and functioning of secondary metal markets;
Amendment 149 #
2014/2211(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 155 #
2014/2211(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes that base metals are traded against prices determined by global demand and supply, mostly set by the London Metal Exchange; understands, therefore, that base metal producers are 'price-takers', which are unable to pass cost increases on to their customers; reaches the conclusion that it is imperative to keep compensations on indirect emissions in place;
Amendment 156 #
2014/2211(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Takes into consideration that base metals are traded against prices determined by demand and supply on global markets; understands, therefore, that putting an adjustment mechanism in place would hamper international free trade and price the European base metals industry out of the market;
Amendment 174 #
2014/2211(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that knowing the carbon content, which is assessed on an industry-wide basis, is essential for building an international system for combating greenhouse gas emissions; points out that the establishing of border adjustment measuresa global verification and monitoring scheme is thus the precursor of an international system to combat CO2 emissions;
Amendment 178 #
2014/2211(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 183 #
2014/2211(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Regrets that compensation for indirect costs has created a new factor in competitive inequality in Europe among producers in electricity-intensive sectors, who can receive financial support from the authorities in their countries; adds that this compensation, which was devised as a transitional measure, should swiftly be reduced and, especially, be grantshould be harmonised at European level in order not to distort competition among European producers;
Amendment 192 #
2014/2211(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 224 #
2014/2211(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Suggests that any facility classified as subject to the ETS should make comprehensive information available every year, including in respect of combating climate change and compliance with EU environmental directives, and that this be accessible to workers' representatives and to the representatives of civil society from local communitiesUnderlines the necessity of transparency for the ETS system and emphasizes, in this respect, the importance of the annual publication of emission performance and allocations of CO2 rights; stresses that any additional reporting obligations should not lead to higher administrative burden for the base metals industry;
Amendment 252 #
2014/2211(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Suggests a preliminary investigation phase of a maximum of one month for an initial review of anti-dumping and anti- subsidy complaints following which, based on the initial evidence, preventive correction measures may be announced and a thorough investigation conducted; stresses, however, that potential corrective measures may not lead to a scarcity of production resources, qualitatively or quantitatively, for any European sector of industry;
Amendment 253 #
2014/2211(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Notes that the European base metals industry is exposed to tariff and non-tariff barriers to export markets in third countries as well as restrictive measures that protect domestic production of base metals; urges the Commission to continuously reduce trade barriers and improve market access to third countries for the European base metals industry; points out that an ambitious Transatlantic Trade and Investment Partnership (TTIP) can help to improve market access and lower trade barriers
Amendment 108 #
2014/2153(INI)
Motion for a resolution
Recital O
Recital O
O. whereas an energy security strategy must include actions to moderate energy demand and equally effective actions to overcome major and imminent disruptions, as well as solidarity and coordination mechanisms to protect and strengthen energy generation, transmission and distribution infrastructure and interconnectors; whereas this infrastructure must be capable of handling variable renewables, and be built into a fully integrated and well-functioning internal energy market as an essential part of an Energy Union with diversified external supplies;
Amendment 295 #
2014/2153(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 372 #
2014/2153(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Emphasises that it is essential to increase the participation of European industry and technology in the entire energy production chain, which includes not only raw materials but also generation, refinement, transportation and distribution, since these are crucial elements for decreasing the EU’s dependence on energy imports;
Amendment 378 #
2014/2153(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Emphasizes that it is important to maintain a competitive refining sector in Europe in order to have the opportunity to flexibly process ample quantities of crude oil stocks and in order to limit dependence on foreign refined oil products, therefore stresses the need for all legislation to be monitored for potential negative impacts on the competitiveness of the sector, relative to non-EU refiners, predominantly when this legislation amounts to regulatory requirements of fuel quality, industrial emissions and CO2 emissions.
Amendment 399 #
2014/2153(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Considers that nuclear energy, which is carbon-neutral, continues to be a significant alternative for electricity production; notes that the choiceNotes that the choice of whether to use nuclear energy is at the discretion of wthether to use nuclear energy remains the Member States, in line with the full competence of the Member States to determine their own energy mix;
Amendment 425 #
2014/2153(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the development of renewable energy sources with the objective of 20 % by 2020 and at least 27 % by 2030 is essential,energy costs have to be takingen into consideration energy costs; stresses the importance of developing smarter energy grids and new energy storage solutions for the integration of renewables;
Amendment 707 #
2014/2153(INI)
Motion for a resolution
Paragraph 39 a (new)
Paragraph 39 a (new)
39a. Calls on the Commission and the Member States to step up their efforts to conclude an agreement on the Transatlantic Trade and Investment Partnership (TTIP) with the United States of America, ensuring that trade in energy commodities such as Liquefied Natural Gas (LNG) forms part of this agreement, bearing in mind that LNG will remain and grow as a major potential source of diversification of the energy supplies of the EU;
Amendment 773 #
2014/2153(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Emphasises that the Energy Community could be an effective instrument for raising pan-European energy security; stresses that its enforcement mechanism and institutional set-up should be further enhanced in order to strengthen investment stability; believes the Energy Community can be useful for purposes of associating candidate countries and potential candidates with the EU solidarity mechanisms; stresses that this should result in a better consolidated European energy neighbourhood policy;
Amendment 778 #
2014/2153(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
Amendment 79 #
2014/2145(INI)
Motion for a resolution
Recital B
Recital B
Amendment 106 #
2014/2145(INI)
Motion for a resolution
Recital C
Recital C
C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas a lack of investment can be just as detrimental to future generations as excessive public debt;
Amendment 188 #
2014/2145(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 220 #
2014/2145(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 251 #
2014/2145(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demrestore trust, boost private investment and, improve fiscal sustainability and allow for fair and sustainable structural reforms and related investments) and, as well as for swift reactions so as to correct the most obvious fault lines in the economic governance framework;
Amendment 275 #
2014/2145(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Warns that the accumulation of procedures that is due to the nature of its creation makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework by parliaments, social partners and citizens in Member States;
Amendment 313 #
2014/2145(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines all theEmphasises the need to respect and apply all existing provisions under the Stability and Growth Pact (SGP) which have been put in place to ensure an anti- cyclical policy; finds it regrettable that these provisions were not put toin full use in previous years, in the context of low inflation, low growth and high unemployment;
Amendment 324 #
2014/2145(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. WelcomeRegrets the fact that in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal rules are interpreted is crucial in bridging the investment gap in the EU and implementing growth-enhancing structural reformscreates additional loopholes in the current fiscal rules, indicating a willingness to afford enhanced leniency to Member States on an ex-ante basis, before structural reforms are properly implemented;
Amendment 342 #
2014/2145(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards the SGP; calls for further clarification regarding the concrete treatment of these contributions in accordance with the new paradigm set out in the communicationUrges extreme caution on creating incentives for Member States to finance the new European Fund for Strategic Investments, as such incentives may lead to political interference in the allocation of EFSI funds and create loopholes for Member States to circumvent compliance with fiscal rules;
Amendment 371 #
2014/2145(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. BelieveRegrets that the communication rightly broadens the scope of the investment clause, allowing for flexibility in the preventive arm of the SGP to accommodate investment programmes by the Member States, in particular as regards expenditure on projects under structural and cohesion polind allows countries to obtain additional leniency, including the Youth Employment Initiative, trans- European networks and the Connecting Europe Facility, and co-financing under the EFSI; believes that this approach must be urgently reassessed to be symmetrically applied to the corrective arm of the SGP the application of the fiscal rules in return for merely presenting reform plans;
Amendment 388 #
2014/2145(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that the structural reform clause under the preventive arm and the means of considering structural reform plans under the corrective arm constitute a step forward as regards ensuring the more efficient implementation of reforms by Member States; calls for further clarification as to the types of structural reforms eligible under this new scheme; believes that a direct link to the cost, timeframe impact and value of structural reforms should also be explicit in the corrective arm of the SGPn undermining of the fiscal rules as it allows Member States to obtain lenient treatment under the fiscal rules in return for merely presenting reform plans; calls for further clarification as to the types of structural reforms eligible under this new scheme;
Amendment 397 #
2014/2145(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Believes that structural reforms should have a positive socioeconomic return and contribute to increased administrative capacity;
Amendment 417 #
2014/2145(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Deplores, however,Notes the fact that the communication does not touch upon the nature of ‘'unusual events’' falling outside the control of a Member State which could allow it to temporarily depart from the adjustment path towards achieving its MTO;
Amendment 419 #
2014/2145(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the Commission and Council to apply and act in the spirit of the changes made to the SGP under the 6 and 2 pack, in particular the greater weight assigned to the debt rule and the enhanced automaticity of sanctions created by the introduction of reversed qualified majority voting in the Council decision-making process on sanctions;
Amendment 420 #
2014/2145(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Calls on the Commission to make the receipt of EFSI funds by a Member State conditional upon that Member State's fiscal reform record, in particular considering the compliance record with the fiscal rules laid down in the SGP and the record on the progress made in the implementation of structural as assessed by the Commission;
Amendment 424 #
2014/2145(INI)
Motion for a resolution
Subheading 3
Subheading 3
Closer coordination and economic convergence: possible improvement of the SGP within the review of the 6 + 2 pack
Amendment 426 #
2014/2145(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 448 #
2014/2145(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliamenttake further steps to ensure Member States under the corrective arm of the SGP meet their obligations aund social partners regarding the design and implementation of structural reformer the existing fiscal rules;
Amendment 465 #
2014/2145(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposes that the country- specific recommendations (CSRs) should be established on the basis of striking a better balance between the AGS and the macroeconomic imbalance procedure (MIP), and suggests that the euro area recommendation should be made compulsory following a proper debate with the European Parliament, with incentives being offered so as to encourage the implementation thereofplay a key role in the decision on allocation of EFSI funds; requests that the excessive deficit procedure (EDP) recommendation be joined together with the CSRs;
Amendment 486 #
2014/2145(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Asks the Commission to verify whetherapply the current 1/20 rule on debt reduction is sustainable and whether it needs to be reconsideredto ensure that debt ratios are reduced to sustainable levels in line with the SGP;
Amendment 506 #
2014/2145(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxationenhancing the linkage between the three pillars, most importantly by making the receipt of EFSI funds conditional on compliance with fiscal rules and the implementation of structural reforms;
Amendment 528 #
2014/2145(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that national fiscal councils could play a useful role at EU level; requests the set-up of a European network allowing for an independent analysis of the economic perspective to be established as a basis for a proper political discussion among stakeholders;
Amendment 543 #
2014/2145(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the MIP must be used in a more balanced manner between deficit and surplus countries, also to address countries with significant room for actionefficient manner, particularly with regard to strengthening competitiveness;
Amendment 559 #
2014/2145(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the Commission to explore ways in which to better align the preventive and corrective arms of the SGP, in particular regarding investment allowing temporby placing emphasis on early deviatection from the MTO, or the adjustment path towards it, within the existence of a safety margin under the preventive armand adjustment of potential excessive deficits;
Amendment 564 #
2014/2145(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 575 #
2014/2145(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 582 #
2014/2145(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates margins for the discretionary implementation of the SGP, as the calculation of potential growth, underpinning the assessment of structural deficits, and that of the expenditure rule arehave been subject to several questionable assumptions and substantial revisions between the Commission’'s autumn and spring forecasts, thereby leading to various calculations and diverging assessments as regards the implementation of the SGP;
Amendment 597 #
2014/2145(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Commission, when evaluating the fiscal position of Members States, to include a better balance between the impact of the agreed fiscal measures and the fiscal figures based on estimated potential growth for GDP, output gaps and strube mindful of potential discrepancies between the agreed fiscal effort and the actural deficits that may introduce unexpected radical change at a later stagefiscal impact achieved;
Amendment 607 #
2014/2145(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that looking forward towards deeper integration cannot be achieved by adding a new layer of rules to the already existing ones;
Amendment 626 #
2014/2145(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Acknowledges, based on the current situation, that the economic governance framework must be corrected and completed in both the medium and long term to allow for the EU and the euro area to meet the challenges of convergence, long-lasting investment and relicompetitiveness and sound public finances;
Amendment 634 #
2014/2145(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 639 #
2014/2145(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
Amendment 647 #
2014/2145(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Recalls the European Parliament’s request that the creation of the European Stability Mechanism (ESM) outside of the structure of the institutions of the Union represents a setback to the political integration of the Union and, therefore, demands thatat the European Stability Mechanism is based on contributions from Member States and that therefore the ESM should be fully integrated into the community framework and made formally accountable to Parliamentaccountable to the Member States via the Council;
Amendment 655 #
2014/2145(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
Amendment 679 #
2014/2145(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
Amendment 694 #
2014/2145(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
Amendment 715 #
2014/2145(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Recalls that the banking union was the result of the political will to avoid a financial crisis and that the same will is needed as regards a fiscal union in order to avoid a political crisipolitical will and commitment is needed from Member States to implement lasting economic reforms and achieve sound public finances;
Amendment 723 #
2014/2145(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need for economic governance reforms, as outlined in this report, and which should be presented to Parliament by the end of May 2015, ahead of the June European Councilto strengthen the competitiveness of Member States' economies, including a clear link between the implementation of CSRs and the receipt of EFSI funds;
Amendment 739 #
2014/2145(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
Amendment 807 #
2014/2145(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
Amendment 22 #
2014/2144(INI)
Motion for a resolution
Recital D
Recital D
D. whereas many businesses, in particular multinationals, commonly structure their global tax position in a way that allows profit shifting towards lower tax jurisdictions or seek to secure preferential treatment to reduce their tax payments;
Amendment 42 #
2014/2144(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the agreement on the Automatic Exchange of Information and the prospects for a swift implementation thereof; calls for tax agreements to be concluded also with third countries before 31 December 2014 and stresses that the exchange of information should not include information that can distort competition;
Amendment 57 #
2014/2144(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses the necessity to define the following terms: tax fraud, tax evasion, tax avoidance, aggressive tax planning, tax haven and tax gap;
Amendment 66 #
2014/2144(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights that increased tax policy harmonisation would ensure that Member States’ tax policies support wider EU policy objectives as set out in the Europe 2020 strategy for smart, sustainable and inclusive growth, without prejudice that tax policy is a national competence;
Amendment 79 #
2014/2144(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Calls on the Commission to develop concrete proposals on how to tackle tax obstacles that hinder the cross-border activity of individuals and businesses in the Single Market, and to further develop tools that increase transparency on taxation rules and regulations that are in force both in the EU and in the MSs; stresses that since MNOs operate internationally, recommendations on a global scale, like the OECD recommendations, should be the starting point; underlines that the EU should not act solely if this influences the competitive position of European companies in a negative way;
Amendment 98 #
2014/2144(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Takes note of the joint statement of 6 May 2014 by 10 MSs on enhanced cooperation on the FTT and the progress of its implementation; calls on participating MSs to reach an agreement including derivative transactions by the end of 2014supports the idea that the financial sector should make a fair contribution to public finances, but does not support the implementation of the FTT, without prejudice that tax policy is a national competence;
Amendment 139 #
2014/2144(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to develop further initiatives to promote good governance in tax matters in third countries, to tackle aggressive tax planning and to address double (non-)taxation gaps;
Amendment 153 #
2014/2144(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes country-by-country (CbC) reporting to tax authorities; calls on the Commission to introduce as a next step CbC reporting for cross-border companies in all sectors and in all the countries in which they operate; ompanies that operate internationally; stresses that information should not become public if an impact assessment indicates that this will distort competition;
Amendment 164 #
2014/2144(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Requests that information exchange is extended to cross-border tax rulings to ensure that all companies operating in the EU fulfil their obligations in all MSs and enhance transparency; underlines the fact that the exchange of information should not distort competition;
Amendment 177 #
2014/2144(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Regrets that national reforms in the public sector have resulted in inadequate staffing and resource allocation to national tax administrations and tax audit authorities, without prejudice that tax policy is a national competence;
Amendment 184 #
2014/2144(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Stresses that effective, efficient and legitimate national tax policies require that national tax authorities function properly (i.e. enforcement should be adequate); stresses that national tax authorities should exchange information on best practices in order to learn from each other;
Amendment 186 #
2014/2144(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Stresses that legal certainty for taxpayers – through predictable behaviour of national tax authorities and politics – should remain a priority; points at the fact that rulings and tax arrangements are not harmful in itself, but that national tax authorities should communicate in a clear and unambiguous manner on which arrangements are acceptable and which are not;
Amendment 190 #
2014/2144(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the Commission to propose, and on MSs to agree on, a common EU position and a set of criteria for the definition of tax havens; recalls on the call for appropriate measures, including a public European blacklist of tax havens, by 31 December 2014Commission to publicly list the 22 member states having recourse to tax rulings according to President Juncker;
Amendment 200 #
2014/2144(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for authorities to suspend or revoke the banking licences of financial institutions if they assist in tax fraud; stresses that tax fraud should already be covered by national criminal law;
Amendment 208 #
2014/2144(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for stronger sanctions to prevent companies breaching EU tax standards in good governance regarding tax matters which cover transparency, exchange of information and fair tax competition, by refraining from granting EU funding and access to state aid or to public procurement to fraudulent companies;
Amendment 233 #
2014/2144(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls Parliament’s plea24 for a strengthening of the economic governance framework; calls on the Commission and MSs to enhance the use of the European Semester by integrating the EU tax gap strategy into the annual national stability and growth programmes and national reform programmes, without prejudice that tax policy is a national competence; __________________ 24 Resolution on the European Semester for economic policy coordination: implementation of 2014 priorities (texts adopted, P8_TA(2014)0038) and resolution on Fight against Tax Fraud, Tax Evasion and Tax Havens (texts adopted, P7_TA(2013)0205).
Amendment 261 #
2014/2144(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Urges MSs, when introducing property taxes, to ensure the fundamental right of accommodation, by protecting the principal house of each taxpayer, without prejudice that tax policy is a national competence;
Amendment 272 #
2014/2144(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Requests that reforming tax expenditures should not result in an unjustified decrease in public expenditures; without prejudice that tax policy is a national competence;
Amendment 279 #
2014/2144(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Commission and the MSs to reflect on new and innovative tax forms; stresses that the debate on the FTT is crucial;
Amendment 288 #
2014/2144(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines the fact that MSs’ taxation policy on environmental taxes should be aligned with the EU 2030 strategy; recognistresses that an increase in environmental taxes has the potential to generate revenues and jobs; calls on the Commission to come forward with appropriate legislative proposalsthe introduction of a common energy tax is not congruent with member states' tax sovereignty;
Amendment 71 #
2014/0121(COD)
Proposal for a directive
Recital 11
Recital 11
(11) Therefore, institutional investors and asset managers should develop a policy on shareholder engagement, which determines, amongst others, how they integrate shareholder engagement in their investment strategy, monitor investee companies, conduct dialogues with investee companies and exercise voting rights. Such engagement policy should include policies to manage actual or potential conflicts of interests, such as the provision of financial services by the institutional investor or asset manager, or companies affiliated to them, to the investee company. This policy, its implementation and the results thereof should be publicly disclosed on an annual basis insofar as disclosure does not influence the competitive position of the relevant company in a negative way. Where institutional investors or asset managers decide not to develop an engagement policy and/or decide not to disclose the implementation and results thereof, they shall give a clear and reasoned explanation as to why this is the case.
Amendment 75 #
2014/0121(COD)
Proposal for a directive
Recital 12
Recital 12
(12) Institutional investors should annually disclose to the public how their equity investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long- term performance of their assets. Where they make use of asset managers, either through discretionary mandates involving the management of assets on an individual basis or through pooled funds, they should disclose to the public the main elements of the arrangement with the asset manager with regard to a number of issues, such as whether it incentivises the asset manager to align its investment strategy and decisions with the profile and duration of the liabilities of the institutional investor, whether it incentivises the asset manager to make investment decisions based on medium to long-term company performance and to engage with companies, how it evaluates the asset managers performance, the structure of the consideration for the asset management services and the targeted portfolio turnover. This would contribute to a proper alignment of interests between the final beneficiaries of institutional investors, the asset managers and the investee companies and potentially to the development of longer-term investment strategies and longer-term relationships with investee companies involving shareholder engagement. Public disclosure should only take place insofar as this does not influence the competitive position of the relevant company in a negative way.
Amendment 76 #
2014/0121(COD)
Proposal for a directive
Recital 13
Recital 13
(13) Asset managers should be required to disclose to institutional investorspublicly disclose how their investment strategy and the implementation thereof is in accordance with the asset management arrangement and how the investment strategy and decisions contributes to medium to long- term performance of the assets of the institutional investor. Moreover, they should publicly disclose whether they make investment decisions on the basis of judgements about medium-to long-term performance of the investee company, how their portfolio was composed and the portfolio turnover, actual or potential conflicts of interest and whether the asset manager uses proxy advisors for the purpose of their engagement activities. This information would stimulate and allow the institutional investor to better monitor the asset manager, provide incentives for a proper alignment of interests and for shareholder engagement. Public disclosure should only take place insofar as this does not influence the competitive position of the relevant company in a negative way.
Amendment 86 #
2014/0121(COD)
Proposal for a directive
Recital 17
Recital 17
(17) To ensure that the implementation of the remuneration policy is in line with the approved policy, shareholders should be grantedMember States should have the possibility to grant shareholders the right to vote on the company’s remuneration report. In order to ensure accountability of directors the remuneration report should be clear and understandable and should provide a comprehensive overview of the remuneration granted to individual directors in the last financial year. Where the shareholders vote against the remuneration report, the company should identify why the shareholders voted against the report. Furthermore, it should explain in the next remuneration report how the vote of the shareholders has been taken into account.
Amendment 94 #
2014/0121(COD)
Proposal for a directive
Recital 19
Recital 19
(19) Transactions with related parties may cause prejudice to companies and their shareholders, as they may give the related party the opportunity to appropriate value belonging to the company. Thus, adequate safeguards for the protection of shareholders’ interests are of importance. For this reason Member States should have the possibility to ensure that related party transactions representing more than 5 % of the companies’ assets or transactions which can have a significant impact on profits or turnover should be submitted to a vote by the shareholders in a general meeting. Where the related party transaction involves a shareholder, this shareholder should be excluded from that vote. The company should not be allowed to conclude the transaction before the shareholders’ approval of the transaction. For transactions with related parties that represent more than 1% of their assets companies should publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third party assessing whether the transaction is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders. Member States should be allowed to exclude transactions entered into between the company and its wholly owned subsidiargroup companies. Member States should also be able to allow companies to request the advance approval by shareholders for certain clearly defined types of recurrent transactions above 5 percent of the assets, and to request from shareholders an advance exemption from the obligation to produce an independent third party report for recurrent transactions above 1 percent of the assets, under certain conditions, in order to facilitate the conclusion of such transactions by companies. Member States should have the possibility to exempt from the required shareholders' vote day-to-day transactions that form part of a company's ordinary business in view of proportionality and administrative costs.
Amendment 95 #
2014/0121(COD)
Proposal for a directive
Recital 20
Recital 20
(20) In view of Directive 95/46/EC of the European Parliament and of the Council of 24 October 199519 it is necessary to strike a balance between the facilitation of the exercise of shareholders' rights and the right to privacy and the protection of personal data. The identification information on shareholders should be limited to the name and contact details of the corresponding shareholders. This information should be accurate and kept up-to-date, kept safe and intermediaries as well as companies and their shareholders should allow for rectification or erasure of all incorrect or incomplete data. This identification information on shareholders should not be used for any other purpose than the facilitation of the exercise of shareholder rights. __________________ 19 Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data (OJ L 281, 23.11.1995, p. 31).
Amendment 96 #
2014/0121(COD)
Proposal for a directive
Recital 21
Recital 21
Amendment 98 #
2014/0121(COD)
Proposal for a directive
Recital 22
Recital 22
(22) In order to ensure that the requirements set out in this Directive or the measures implementing this Directive are applied in practice, any infringement of those requirements should be subject to penalties as included in national law. To that end, penalties should be sufficiently dissuasive and proportionate.
Amendment 104 #
2014/0121(COD)
Proposal for a directive
Recital 14
Recital 14
(14) In order to improve the information in the equity investment chain Member States should ensure that proxy advisors adopt and implement adequate measures to guaranteeensure to the best of their ability that their voting recommendations are accurate and reliable, based on a thorough analysis of all the information that is available to them and are not affected by any existing or potential conflict of interest or business relationship. They should disclose certain key information related to the preparation of their voting recommendations and any actual or potential conflict of interest or business relationships that may influence the preparation of the voting recommendations.
Amendment 106 #
2014/0121(COD)
Proposal for a directive
Recital 15
Recital 15
Amendment 107 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2007/36/EC
Article 2 – point j a (new)
Article 2 – point j a (new)
(ja) 'Contact details' should only include the actual physical address, e-mail address and the amount of shares and voting rights in the case of natural persons, and the actual physical address, e-mail address and the amount of shares and voting rights, and where available their unique identifier, in the case of legal persons.
Amendment 109 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3a – paragraph 2
Chapter IA – article 3a – paragraph 2
2. Member States shall ensureprovide and specify in national legislation that, on the request of the company, the intermediary communicates without undue delay to the company the name and contact details of the shareholders and, where the shareholders are legal persons, their unique identifier where available. Where there is more than one intermediary in a holding chain, the request of the company and the identity and contact details of the shareholders shall be transmitted between intermediaries without undue delay.
Amendment 112 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3a – paragraph 4
Chapter IA – article 3a – paragraph 4
4. Member States shall ensure and specify in national legislation that an intermediary that reports the name and contact details of a shareholder is not considered in breach of any restriction on disclosure of information imposed by contract or by any legislative, regulatory or administrative provision.
Amendment 113 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3a – paragraph 5
Chapter IA – article 3a – paragraph 5
Amendment 114 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3b – paragraph 1 – introductory part
Chapter IA – article 3b – paragraph 1 – introductory part
1. Member States shall ensure that ifnsofar as a company choosdoes not to directly communicate with its shareholders, the information related to their shares shall be transmitted to them or, in accordance with the instructions given by the shareholder, to a third party, by the intermediary without undue delay in all oft least the following cases:
Amendment 114 #
2014/0121(COD)
Proposal for a directive
Recital 16
Recital 16
Amendment 116 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3b – paragraph 5
Chapter IA – article 3b – paragraph 5
Amendment 118 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3c – paragraph 2
Chapter IA – article 3c – paragraph 2
2. Member States shallmay take measures to ensure that companies confirm the votes cast in general meetings by or on behalf of shareholders. In case the intermediary casts the vote, it shall transmit the voting confirmation to the shareholder. Where there is more than one intermediary in the holding chain the confirmation shall be transmitted between intermediaries without undue delay.
Amendment 119 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IA – article 3c – paragraph 3
Chapter IA – article 3c – paragraph 3
Amendment 120 #
2014/0121(COD)
Proposal for a directive
Recital 17
Recital 17
Amendment 128 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IB – article 3f – paragraph 3
Chapter IB – article 3f – paragraph 3
3. Member States shallmay take measures to ensure that institutional investors and asset managers publicly disclose on an annual basis their engagement policy, how it has been implemented and the results thereof insofar as disclosure does not influence the competitive position of the relevant company in a negative way. The information referred to in the first sentence shall at least be available on the company's website. Institutional investors and asset managers shall, for each company in which they hold shares, disclose if and how they cast their votes in the general meetings of the companies concerned and provide an explanation for their voting behaviour. Where an asset manager casts votes on behalf of an institutional investor, the institutional investor shall make a reference as to where such voting information has been published by the asset manager.
Amendment 131 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IB – article 3g – paragraph 1
Chapter IB – article 3g – paragraph 1
1. Member States shallmay take measures to ensure that institutional investors disclose to the public how their equity investment strategy (“investment strategy”) is aligned with the profile and duration of their liabilities and how it contributes to the medium to long- term performance of their assets. This should only be done if disclosure does not influence the competitive position of the relevant company in a negative way. The information referred to in the first sentence shall at least be available on the company's website as long as it is applicable.
Amendment 135 #
2014/0121(COD)
Proposal for a directive
Recital 19
Recital 19
(19) Transactions with related parties may cause prejudice to companies and their shareholders, as they may give the related party the opportunity to appropriate value belonging to the company. Thus, adequate safeguards for the protection of shareholders’' interests are of importance. For this reason Member States should ensure that related party transactions representing more than 5 % of the companies’' assets or transactions which can have a significant impact on profits or turnover should be submitted either to a vote by the shareholders in a general meeting. Where the related party transaction involves a shareholder, this shareholder should be excluded from that vote. The company should not be allowed to conclude the transaction before the shareholders’ approval of the transaction or to the approval of an administrative body of the company such as independent directors assessing whether the transaction is fair and reasonable from the perspective of the company and consequently its shareholders. For transactions with related parties that represent more than 1% of their assets companies should publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third p. Transactions entered into in the ordinarty assessing whether the transaction is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders. Member Statecourse of business or concluded on market terms or market equivalent terms should be allowed to exclude td. Transactions entered into between the company and its wholly or partly owned subsidiaries or joint ventures should also be excluded. Member States should also be able to allow companies to request the advance approval by shareholders for certain clearly defined types of recurrent transactions above 5 percent of the assets, and to request from shareholders an advance exemption from the obligation to produce an independent third party report foran independent administrative body for certain clearly defined types of recurrent transactions above 15 percent of the assets, under certain conditions, in order to facilitate the conclusion of such transactions by companies.
Amendment 139 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IB – article 3h – paragraph 1
Chapter IB – article 3h – paragraph 1
1. Member States shallmay take measures to ensure that asset managers disclose on a half-yearly basis to the institutional investor with which they have entered into the arrangement referred to in Article 3g(2) how their investment strategy and implementation thereof complies with that arrangement and how the investment strategy and implementation thereof contributes to medium to long-term performance of the assets of the institutional investor.
Amendment 139 #
2014/0121(COD)
Proposal for a directive
Recital 21
Recital 21
Amendment 140 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IB – article 3h – paragraph 2 – introductory part
Chapter IB – article 3h – paragraph 2 – introductory part
2. Member States shallmay take measures to ensure that asset managers disclose to the institutional investor on a half-yearly basis all of the following information:
Amendment 153 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 1 – subparagraph 1
Article 9a – paragraph 1 – subparagraph 1
1. Member States shallmay take measures to ensure that shareholders have the right to vote on the remuneration policy as regards directors. CIn that case, companies shall only pay remuneration to their directors in accordance with a remuneration policy that has been approved by shareholders. The policy shall be submitted for approval by the shareholders at least every three years.
Amendment 159 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 3 – subparagraph 2
Article 9a – paragraph 3 – subparagraph 2
The policy shall indicate the maximum amounts of total remuneration that can be awarded, and the corresponding relative proportion of the different components of fixed and variable remuneration. It shall explain how the pay and employment conditions of employees of the company were taken into account when setting the policy or directors' remuneration by explaining the ratio between the average remuneration of directors and the average remuneration of full time employees of the company other than directors and why this ratio is considered appropriate. The policy may exceptionally be without a ratio in case of exceptional circumstances. In that case, it shall explain why there is no ratio and which measures with the same effect have been taken.
Amendment 170 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9b – paragraph 1 – introductory part
Article 9b – paragraph 1 – introductory part
1. Member States shallmay take measures to ensure that the company draws up a clear and understandable remuneration report, providing a comprehensive overview of the remuneration, including all benefits in whatever form, granted to individual directors, including to newly recruited and former directors, in the last financial year. It shall, where applicable, contain all of the following elements:
Amendment 177 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9b – paragraph 3
Article 9b – paragraph 3
3. Member States shall ensure thamay grant shareholders have the right to vote on the remuneration report of the past financial year during the annual general meeting. Where the shareholders vote against the remuneration report the company shallould identify why the shareholders voted against the report. Furthermore, it should explain in the next remuneration report whether or not and, if so, how, the vote of the shareholders has been taken into account.
Amendment 177 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3a – paragraph 5
Article 3a – paragraph 5
Amendment 178 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9b – paragraph 4
Article 9b – paragraph 4
Amendment 182 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 1 – subparagraph 1
Article 9c – paragraph 1 – subparagraph 1
1. Member States shallmay take measures to ensure that companies, in case of transactions with related parties that represent more than 1% of their assets, publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third party assessing whether or not it is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders. The announcement shall contain information on the nature of the related party relationship, the name of the related party, the amount of the transaction and any other information necessary to assess the transaction.
Amendment 184 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3b – paragraph 5
Article 3b – paragraph 5
Amendment 187 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 2 – subparagraph 1
Article 9c – paragraph 2 – subparagraph 1
2. Member States shallmay take measures to ensure that transactions with related parties representing more than 5% of the companies’ assets or transactions which can have a significant impact on profits or turnover are submitted to a vote by the shareholders in a general meeting. Where the related party transaction involves a shareholder, this shareholder shall be excluded from that vote. The company shall not conclude the transaction before the shareholders’ approval of the transaction. The company may however conclude the transaction under the condition of shareholder approval.
Amendment 194 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 4
Article 9c – paragraph 4
4. Member States may exclude transactions entered into between the company and one or more members of its group from the requirements in paragraphs 1, 2 and 3, provided that those members of the group are wholly owned by the company. Member States may exclude day-to-day transactions that form part of a company's ordinary business.
Amendment 201 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3c – paragraph 3
Article 3c – paragraph 3
Amendment 276 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3i – paragraph 1
Article 3i – paragraph 1
1. Member States shall ensure that proxy advisors adopt and implement adequate measures to guaranteeensure to the best of their ability that their voting recommendations are accurate and reliable, based on a thorough analysis of all the information that is available to them.
Amendment 290 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9a
Article 9a
Amendment 363 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9b
Article 9b
Amendment 406 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 1 – subparagraph 1
Article 9c – paragraph 1 – subparagraph 1
1. Member States shall ensure that companies, in case of transactions with related parties that represent more than 1% of their assets, publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third party assessing whether or not it is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders. The announcement shall contain information on the nature of the related party relationship, the name of the related party, the amount of the transaction and any other material information necessary to assess the financial impartiality of the transaction.
Amendment 447 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
3a. The requirements in paragraphs 1, 2 and 3 shall not apply to transactions entered into in the ordinary course of business or concluded on market terms or on market equivalent terms.
Amendment 455 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 4
Article 9c – paragraph 4
4. Member States may excludeThe requirements in paragraphs 1, 2 and 3 shall not apply to transactions entered into between the company and one or more members of its group from the requirements in paragraphs 1, 2 and 3, provided that those members or joint ventures of the group are wholly or partly owned by the company.
Amendment 485 #
2014/0121(COD)
Proposal for a directive
Article 2 – point a
Article 2 – point a
Directive 2013/34/EC
Article 20 – paragraph 1 – point h
Article 20 – paragraph 1 – point h
Amendment 369 #
2014/0091(COD)
Proposal for a directive
Recital 28
Recital 28
(28) If the institution does not work on a cross-border basis, Member States should be able to permit underfunding provided that a proper plan is established to restore full funding and without prejudice to the requirements of Council Directive 80/987/EEC of 20 October 1980 on the approximation of the laws of the Member States relating to the protection of employees in the event of the insolvency of their employer.28 __________________ 28 OJ L 283, 28.10.1980, p. 23.
Amendment 388 #
2014/0091(COD)
Proposal for a directive
Recital 37
Recital 37
(37) Remuneration policies which encourage excessive risk-taking behaviour can undermine sound and effective risk management of institutions. Principles and disclosure requirements for remuneration policies applicable to other types of financial institutions in the Union shcould be made applicable also to institutions, bearing in mind, however, the particular governance structure of institutions in comparison to other types of financial institutions and the need to take account of the size, nature, scope and complexity of the activities of institutions.
Amendment 401 #
2014/0091(COD)
Proposal for a directive
Recital 41
Recital 41
(41) It is essential that institutions improve their risk management so that potential vulnerabilities in relation to the sustainability of the pension scheme can be properly understood and discussed with the competent authorities. Institutions should, as part of their risk management system, produce a risk evaluation for their activities relating to pensions. That risk evaluation should also be made available to the competent authorities. In that evaluation institutions should provide among others a qualitative description of key elements determining their funding position in accordance with national law, the effectiveness of their risk-management system and the ability to comply with the requirements regarding technical provisions. This risk evaluation should include new or emerging risks, such as risks related to climate change, resource use or the environment.
Amendment 419 #
2014/0091(COD)
Proposal for a directive
Recital 48
Recital 48
(48) For the institution's members that have not yet retired, institutions should draw up a standardised pension benefit statement containing key personal and generic information about the pension scheme. The pension benefit statement should have a standard format in order to facilitate the understanding of pension entitlements over time and across schemes and serve labour mobility.
Amendment 480 #
2014/0091(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Unless national social and labour law on the organisation of pension systems provides otherwise, the transfer and its conditions shallmay be made subject to prior approval by the members and beneficiaries concerned or, where applicable, their representatives. In any event, information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or, where applicable, their representatives at least four months before the application referred to in paragraph 2 is submitted.
Amendment 518 #
2014/0091(COD)
Proposal for a directive
Article 16 – paragraph 1
Article 16 – paragraph 1
Amendment 593 #
2014/0091(COD)
Proposal for a directive
Article 27 – paragraph 2
Article 27 – paragraph 2
2. Member States shall require institutions to designate at least one independent person, inside or outside of the institution, who is responsible forthat the internal audit function. Except for the ex is objecutionve and certification referred to in Article 14(4), that person shall not assume responsibility for key functions other than those laid down in this Articleindependent from other functions.
Amendment 622 #
2014/0091(COD)
Proposal for a directive
Article 35 – paragraph 1
Article 35 – paragraph 1
1. For each occupational pension scheme in which members and beneficiaries fully bear the investment risk, the home Member State shallmay require the institution to appoint a single depositary for safe-keeping of assets and oversight duties in accordance with Article 36 and 37.
Amendment 624 #
2014/0091(COD)
Proposal for a directive
Article 35 – paragraph 1 a (new)
Article 35 – paragraph 1 a (new)
1a. Member States may decide to exempt from this requirement institutions that have outsourced all of their investment management activities to external service providers.
Amendment 636 #
2014/0091(COD)
Proposal for a directive
Article 40 – paragraph 3
Article 40 – paragraph 3
(3) Any material change to the information contained in the pension benefit statement compared to the previous year shall be clearly explained in an accompanying letindicaterd.
Amendment 111 #
2014/0020(COD)
Proposal for a regulation
Recital 10
Recital 10
Amendment 124 #
2014/0020(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) This Regulation will apply only to credit institutions and groups with trading activities that meet thresholdse criteria set out in the Regulation. This is in line with the explicit focus on the limited subset of the largest and most complexsystemically relevant credit institutions and groups that in spite of other legislative acts remain too-big-to-fail, too-big-to-save and too complex to manage, supervise and resolve. The provisions of this Regulation should accordingly only apply to those Union credit institutions and groups that either are deemed of global systemic importance or exceed certain relative and absolute accounting-based thresholds in terms of trading activity or absolutesignificant supervised entities or significant supervised groups under Regulation (EU) No 468/2014 or exceed certain accounting-based thresholds on size. Member States or the competent authorities may decide to impose similar measures also on smaller credit institutions.
Amendment 128 #
2014/0020(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) This Regulation will apply only to credit institutions and groups with trading activities that meet thresholds set out in the Regulation. This is in line with the explicit focus on the limited subset of the largest and most complex credit institutions and groups that in spite of other legislative acts remain too-big-to-fail, too-big-to-save and too complex to manage, supervise and resolve. The provisions of this Regulation should accordingly only apply to those Union credit institutions and groups that either are deemed of global systemic importance or exceed certain relative and absolute accounting-based thresholds in terms of trading activity or absolute size. Member States or the competent authorities may decide to impose similar measures also on smaller credit institutions.
Amendment 137 #
2014/0020(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) To ensure that the entities subject to the prohibition of proprietary trading can continue to contribute toward the financing of the economy, they should be allowed to invest in a closed list of funds. This exhaustive listertain funds. These should comprisinclude closed- ended and unleveraged alternative investment funds (AIFs), European Venture Capital Funds, European Social Entrepreneurship Funds and European Long Term Investment Funds. To ensure that these funds do not endanger the viability and financial soundness of the credit institutions that invest in them, it is essential that closed-ended and unleveraged AIFs in which credit institutions can still invest are managed by AIF managers that are authorised and supervised in accordance with the relevant provisionsUCITS, other funds marketed to retail investors, AIFs where the mandate of the fund does not allow a leverage higher than that laid down in Article 51(3) of Directive 201109/615/EU of the European Parliament and of the Council26 , and that those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to the rules of that Directive. __________________ 26Directive 2011/61/EU of the European Parliament and of the Counas referenced in Article 128(2)(b) of Regulation (EU) 575/2013, qualifying venture capital funds as defined in Article 3(b) of Regulation (EU) No 345/2013, qualifying social of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC andentrepreneurship funds as defined in Article 3(b) of Regulations (ECU) No 1060/2009 and (EU) No 1095/2010346/2013, and AIFs authorised as ELTIFs in accordance with Regulation (EU) No [XXX/XXXX].
Amendment 155 #
2014/0020(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) If, when assessing the trading activities, the competent authority concludes that they exceed certain metrics in terms of relative size, leverage, complexity, profitability, associated market risk, as well as interconnectedness, it should require their separation posing undue risks to the resolvability and stability of the core credit institution, or to the stability of the Union´s financial system, it should require additional measures which may take the form of enhanced supervision, higher capital requirements and separation of the relevant trading activities from the core credit institution unless the core credit institution can demonstrate to the satisfaction of the competent authority that those trading activities do not pose a threat to the financial stability of the core credit institution or to the Union financial system as a whole, taking into account the objectives set out in this Regulation.
Amendment 162 #
2014/0020(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) There are particular concerns in relation to market making. The resolvability of a bank may be impeded by the presence of trading and inventory within a large banking group, as individual trading positions are treated the same way in a resolution process, whether they result from client activity driven market making or from speculation. Additionally, market makers are interconnected with other large banking groups. Furthermore, market makers can be exposed to substantial counterparty risk and the concrete functioning of market making can vary in relation to different financial instruments and market models. Market making activities, however, are also indispensable to the well-functioning of the market for corporate bonds and other debt instruments, since liquidity is necessary to make the instruments appropriate for a wide variety of investors. Therefore, particular attention to those activities should be made during the assessment of the competent authority.
Amendment 243 #
2014/0020(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point a a (new)
Article 3 – paragraph 1 – point a a (new)
(a a) any credit institution considered a significant supervised institution or significant supervised group as defined in point 16 and point 22, respectively, of Article 2 of Regulation (EU) 468/2014; or
Amendment 253 #
2014/0020(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b – introductory part
Article 3 – paragraph 1 – point b – introductory part
(b) any of the following entities that for a period of three consecutive years has total assets amounting at least to EUR 30 billion and has trading activitiedeposits amounting at least to EUR 730 billion or 10 per cent of its total assets:
Amendment 276 #
2014/0020(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4
Article 5 – paragraph 1 – point 4
4. ‘proprietary trading’ means using own capital or borrowed money to take positions in any type ofimmediate transaction to purchase, sell or otherwise acquire or dispose of any financial instrument or commodities for the sole purpose of making a short term profit for own account, and without any connection to actual or anticipated client activity or for the purpose of hedging the entity’s risk as result of actual or anticipated client activity, through the use of desks, units, divisions or individual traders specifically dedicated to such position taking and profit making, including through dedicated web- based proprietary trading platforms;
Amendment 331 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 2 – point b – introductory part
Article 6 – paragraph 2 – point b – introductory part
(b) a situation where an entity referred to in Article 3 engages in proprietary trading through a separate legal entity or meets all of the following conditions:
Amendment 347 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 3
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 where those AIF, UCITS, other funds mare 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 keted to retail investors and to AIFs where the mandate of the fund does not allow a leverage higher than laid down in Article 51(3) of Directive 2009/65/EU as referenced in Article 128(2)(b) of Regulation (EU) 575/2013, 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].
Amendment 349 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 3 a (new)
Article 6 – paragraph 3 a (new)
3 a. The prohibition in point (b) of paragraph 1 shall not apply if the amount of those activities is below 2% of the core credit institution´s own funds, calculated on a consolidated basis. The amount of those activities above 2% of the core credit institution´s own funds, calculated on a consolidated basis, shall be phased out during a period of five years after this Regulation enters into force.
Amendment 373 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point a a (new)
Article 8 – paragraph 1 – point a a (new)
(a a) the management of liquidity, interest rate, currency and credit risk in a group or network according to Art. 113 (6), (7) Regulation (EU) No.575/2013 [CRR] or Art. 16(1) of Commission Delegated Regulation (EU) 2015/61.
Amendment 375 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point b a (new)
Article 8 – paragraph 1 – point b a (new)
(b a) providing guarantees
Amendment 387 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point (i a) (new)
Article 8 – paragraph 1 – point (i a) (new)
(i a) Asset management services such as portfolio management and investment advice.
Amendment 391 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point i a (new)
Article 8 – paragraph 1 – point i a (new)
(i a) the selling of interest rate derivatives, foreign exchange derivatives, credit derivatives, emission allowances derivatives and commodity derivatives eligible for central counterparty clearing, and emission allowances, to non-financial clients and to financial entities referred to in the second and third indents of point (19) of Article 5, to insurance undertakings, or to institutions providing occupational retirement benefits, where the sole purpose of the sale is to hedge interest rate risk, foreign exchange risk, credit risk, commodity risk or emissions allowance risk.
Amendment 424 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Amendment 428 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 1 b (new)
Article 9 – paragraph 1 b (new)
Amendment 460 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
Amendment 491 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Where the competent authority concludes that, following the assessment referred to in Article 9(1), the limits and conditions linked to the metrics referred to in points (a) to (h) of Article 9(2) and specified in the delegated act referred to in paragraph 5 are met, and it therefore deems that there is a threat to the financial stability of the core credit institution or to the Union financial system as a whole, taking into account the objectives referred to in Article 1, it shall, no later than two months after the finalisation of that assessment, start the procedure leading to a decision as referred to in the second subparagraph of paragraph 3.
Amendment 509 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the limits and conditions referred to in paragraph 1 are not met, the competent authority may still start the procedure leading to a decision as referred to in the third subparagraph of paragraph 3 where it concludes, following the assessment referred to in Article 9(1), that any trading activity, with the exception of trading in derivatives other than those permitted under Article 11 and 12, carried out by the core credit institution, poses a threat to the financial stability of the core credit institution or to the Union financial system as a whole taking into account the objectives referred to in Article 1.
Amendment 515 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Article 10 – paragraph 3 – subparagraph 2
Unless the core credit institution demonstrates, within the time limit referred to in the first subparagraph, to the satisfaction of the competent authority, that the reasons leading to the conclusions are not justified, the competent authority shall adopt a decision addressing the core credit institution and requiring it not to carry outto reduce the risk that potential losses stemming from, the trading, related activities specified in those conclusionsare transferred to the core credit institution, by taking measures in accordance with Article 17 of Directive 2014/59/EU (BRRD) to restore the resolvability of the credit institution. Measures that the competent authority may take shall include enhanced supervision, higher capital requirements, and separation of the relevant trading activities from the core credit institution. The competent authority shall state the reasons for its decision and publicly disclose it.
Amendment 536 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 4
Article 10 – paragraph 3 – subparagraph 4
Amendment 553 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 5 – point a – point a
Article 10 – paragraph 5 – point a – point a
(a) (i) the relevant limit of each of the metrics provided in points (a) to (hg) of Article 9(1), above which the risk level of the trading activity concerned is deemed individually significant;
Amendment 573 #
2014/0020(COD)
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
As part of the prudent management of its capital, liquidity and funding, a core credit institution may only use interest rate derivatives, foreign exchange derivatives and credit derivatives eligible for central counterparty clearing to hedge its overall balance sheet risk. The core credit institution shall demonstrate to the competent supervisor that the hedging activity is designed to reduce, and demonstrably reduces or significantly mitigates, specific, identifiable risks of individual or aggregated positions of the core credit institution. The competent supervisor may prohibit the core credit institution from using a type of instrument when it has good reason to believe that the use of such an instrument would pose a risk to the stability or resolvability of the core credit institution, or to the stability of the Union´s financial system.
Amendment 589 #
2014/0020(COD)
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1 – introductory part
Article 12 – paragraph 1 – subparagraph 1 – introductory part
A core credit institution that has been subject to a decision referred to in Article 10(3) may sell interest rate derivatives, foreign exchange derivatives, credit derivatives, emission allowances derivatives and commodity derivatives eligible for central counterparty clearing and emission allowances to its non- financial clients, to financial entities referred to in the first, second and third indents of point (19) of Article 5, to insurance undertakings and to institutions providing for occupational retirement benefits when the following conditions have been satisfied:
Amendment 601 #
2014/0020(COD)
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1 – point b
Article 12 – paragraph 1 – subparagraph 1 – point b
(b) the sales reflect the legitimate hedging objectives of the core credit institution'´s own funds requirements forclients, are fully disclosed to the competent authority, and the position risk arising from the derivatives and emission allowances does not exceed a proportion of to the core credit institution do not pose undue risk to the stability and resolvability of the core credit institution or stabilitsy total risk capital requirement to be specified in a Commission delegated act in accordance with paragraph 2. he Union´s financial system. The competent supervisor may at any time prohibit the core credit institution from engaging in a sale of a financial instrument, in particular those subject to the obligations set out in Article 11 of Regulation (EU) No 648/2012, when it has good reason to believe such a sale would pose a risk to the stability or resolvability of the core credit institution, or to the stability of the Union´s financial system.
Amendment 607 #
2014/0020(COD)
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
Amendment 652 #
2014/0020(COD)
Proposal for a regulation
Article 16
Article 16
Amendment 698 #
Amendment 745 #
2014/0020(COD)
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
1. For the purpose of Article 3(b)(ii) and Article 9, the calculation of the thresholds shall be based on the consolidated accounts of the EU parent.
Amendment 751 #
2014/0020(COD)
Proposal for a regulation
Article 22 – paragraph 4 – subparagraph 1
Article 22 – paragraph 4 – subparagraph 1
By [OP insert the correct date by 12 months of publication of this Regulation], the competent authority shall annually identify credit institutions and groups that are subject to this Regulation in accordance with Article 3 and notify them immediately to the EBA.
Amendment 55 #
2013/0402(COD)
Proposal for a directive
Recital 2
Recital 2
(2) Open innovation is an important lever for the creation of new knowledge and underpins the emergence of new and innovative business models based on the use of co-created knowledge. Trade secrets have an important role in protecting the exchange of knowledge between businesses and/or research institutions within and across the borders of the internal market in the context of research and development and innovation. Collaborative research, including cross- border cooperation, is particularly important to increase the levels of business research and development within the internal market. Open innovation is a catalyst for new ideas to find their way to the market meeting the needs of consumers and tackling societal challenges. In an internal market where barriers to such cross-border collaboration are minimised and where cooperation is not distorted, intellectual creation and innovation should encourage investment in innovative processes, services and products. Such an environment conducive to intellectual creation and innovation is also important for employment growth and improving competitiveness of the Union economy. Trade secrets are amongst the most used form of protection of intellectual creation and innovative know-how by businesses, yet they are at the same time the least protected by the existing Union legal framework against their unlawful acquisition, use or disclosure by third parties.
Amendment 62 #
2013/0402(COD)
Proposal for a directive
Recital 8
Recital 8
(8) It is appropriate to provide for rules at Union level to approximate the national legislative systems so as to ensure a sufficient and consistent level of redress across the internal market in case of unlawful acquisition, use or disclosure of a trade secret. For this purpose, it is important to establish a homogenous definition of a trade secret without restricting the subject matter to be protected against misappropriation. Such definition should therefore be constructed as to cover business information, technological information and know-how where there is both a legitimate interest in keeping confidential and a legitimate expectation in the preservation of such confidentiality. Such confidential know- how should furthermore have commercial value, whether actual or potential, insofar as its unlawful acquisition, use or disclosure undermines the scientific and technical potential, business or financial interests, strategic positions or ability to compete of the trade secret holder. By nature, such definition should exclude trivial information and should not extend to the knowledge and skills gained by employees in the normal course of their employment and which are known among or accessible to persons within the circles that normally deal with the kind of information in question.
Amendment 121 #
2013/0402(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 4
Article 2 – paragraph 1 – point 4
(4) ’infringing goods’ means goods whose designproducts or services whose characteristics, quality, manufacturing process or marketing significantly benefits from trade secrets unlawfully acquired, used or disclosed.
Amendment 159 #
2013/0402(COD)
Proposal for a directive
Article 3 – paragraph 5
Article 3 – paragraph 5
5. The conscious and deliberate production, offering or placing on the market of infringing goods, or import, export or storage of infringing goods for those purposes, shall be considered an unlawful use of a trade secret, when the person carrying out such activities knew, or should, under the circumstances, have known that the trade secret was used unlawfully.
Amendment 164 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
(b) observation, study, disassembly or test of a product or object that has been made available to the public or that it is lawfully in the possession of the acquirer of the information; and is not under any legal obligation to limit the acquisition of the trade secret.
Amendment 196 #
2013/0402(COD)
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
Member States shall ensure that actions for the application of the measures, procedures and remedies provided for in this Directive may be brought within at least one year but not more than twofour years after the date on which the applicant became aware, or had reason to become aware, of the last fact giving rise to the action.
Amendment 203 #
2013/0402(COD)
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2 – introductory part
Article 8 – paragraph 1 – subparagraph 2 – introductory part
The obligation referred to in the first subparagraph shall cease to exisontinue to apply until after the end of the legal proceedings, except in any of the following circumstances:
Amendment 228 #
2013/0402(COD)
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Member States shall ensure that in deciding on the granting or rejecting of the application and assessing its proportionality, the competent judicial authorities shall be required to take into account all relevant aspects of the case, such as the value of the trade secret, the measures taken to protect the trade secret, the intentional or unintentional conduct of the respondent in acquiring, disclosing or using of the trade secret, the impact of the unlawful disclosure or use of the trade secret, the legitimate interests of the parties and the impact which the granting or rejection of the measures could have on the parties, the legitimate interests of third parties, the public interest and the safeguard of fundamental rights, including freedom of expression and information.
Amendment 262 #
2013/0402(COD)
Proposal for a directive
Article 12 – paragraph 3 – subparagraph 1 – point a
Article 12 – paragraph 3 – subparagraph 1 – point a
(a) the person concerned originally acquired knowledge of the trade secret in good faith and fulfils the conditions of Article 3(4)at the moment of use or disclosure neither knew nor had reason, under the circumstances, to know that the trade secret was obtained from another person who was using or disclosing the trade secret unlawfully;
Amendment 270 #
2013/0314(COD)
Proposal for a regulation
Recital 34
Recital 34
(34) This Regulation should take into account the Principles for financial benchmarks issued by the International Organization of Securities Commissions (IOSCO) on 17 July 2013 and the IOSCO Principles for Oil Price Reporting Agencies issued by IOSCO on 5 October 2012 (hereinafter referred to as ‘'IOSCO Principles’') on the 17 July 2013 which serve as a global standards for regulatory requirements for benchmarks. It is necessary for investor protection that an assessment that the supervisions and regulation in any third country are equivalent to Union supervision and regulation of benchmarks takes place before any benchmark provided from that third country can be used in the Union.
Amendment 273 #
2013/0314(COD)
Proposal for a regulation
Recital 34 a (new)
Recital 34 a (new)
(34a) This Regulation introduces an endorsement regime allowing administrators located in the Union and authorised or registered in accordance with its provisions to endorse benchmarks provided in third countries, under certain conditions. Such an endorsement regime should be introduced for third country administrators that are affiliated or work closely with administrators located in the Union. An administrator that has endorsed benchmarks provided in a third country should be responsible for such endorsed benchmarks and ensure that they fulfil the relevant conditions referred to in this Regulation.
Amendment 304 #
2013/0314(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point b a (new)
Article 2 – paragraph 2 – point b a (new)
(ba) single price or single value reference; prices
Amendment 312 #
2013/0314(COD)
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2a. This Regulation shall not apply to administrators of in respect of their noncritical benchmarks with respect to Articles 5(1a), 5(2a), 5(3b), 5(3c), 5(3d), 5a, 5b, 5d, 7, 7a, 8(1), 8(2), 9(1), 9(2), 11(2a), 11(2b), 17(1).
Amendment 313 #
2013/0314(COD)
Proposal for a regulation
Article 2 – paragraph 2 b (new)
Article 2 – paragraph 2 b (new)
2b. Where a noncritical benchmark is a commodity benchmark subject to the requirements set out in Annex Ia in accordance with Article 14a, points 5– 16 of Annex Ia of this Regulation shall not apply.
Amendment 333 #
2013/0314(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 11
Article 3 – paragraph 1 – point 11
(11) ‘'regulated data’' means: (i) input data that is contributed dentirectly from: (a) a trading venue as defined in point (254) of paragraph 1 of Article 2 of [MIFIR] or4 of Directive 2014/65/EU but only with reference to data concerning transactions of financial instruments; or (b) an approved publication arrangement as defined in point (1852) of paragraph 1 of Article 24 of [MIFIR ] or an approved reporting arrangementDirective 2014/65/EU or a consolidated tape provider as defined in point (53) of paragraph 1 of Article 4 of Directive 2014/65/EU, in accordance with mandatory post-trade transparency requirements, but only with reference to data of transactions concerning financial instruments that are traded on a trading venue; or (c) an approved reporting mechanism as defined in point (2054) of paragraph 1 of Article 2 of [MIFIR]4 of Directive 2014/65/EU, but only with reference to data of transactions concerning financial instruments that are traded on a trading venue and that must be disclosed in accordance with mandatory post -trade datatransparency requirements; or (d) an electricity exchange as referred to in point (j) of paragraph 1 of Article 37 of Directive 2009/72/EC19; or (e) a natural gas exchange as referred to in point (j) of paragraph 1 of Article 41 of Directive 2009/73/EC20 or (f) an auction platform referred to in Article 26 or in Article 30 of Regulation (EU) No 1031/2010 of the European Parliament and of the Council; or (ii) net asset values of the units of undertakings for collective investment in transferable securities (UCITS) as defined in Article 1(2) of Directive 2009/65/EU __________________ 19 OJ L 211, 14.8.2009, p. 55. 20 OJ L 9, 14.8.2009, p. 112.
Amendment 347 #
2013/0314(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 20
Article 3 – paragraph 1 – point 20
(20) ‘'commodity benchmark’' means a benchmark where the underlying asset for the purposes of point (1)(c) of this Article is a commodity within the meaning of point (21) of Article 2 of Commission Regulation (EC) No 1287/200627 ; Emission allowances as defined in point (11) of Section C of Annex I of [MiFID] shall not be considered commodities for the purpose of this Regulation; __________________ 27 OJ L 241, 2.9.2006, p. 1.
Amendment 453 #
2013/0314(COD)
Proposal for a regulation
Article 13 a (new)
Article 13 a (new)
Article 13a Mandatory Administration 1. If an administrator of a critical benchmark intends to cease producing its critical benchmark, it shall: (a) immediately notify its competent authority; and (b)within four weeks of such notification submit an assessment of how the benchmark is to be transitioned to a new administrator; or (c) within 4 weeks of such notification submit an assessment of how the benchmark is to be ceased to be produced, taking into account the procedure established in Article 17(1). During this period of time, the administrator shall not cease production of the benchmark. 2. Upon receipt of the assessment of the benchmark administrator referred to in paragraph 1, the competent authority shall within 4 weeks: (a) inform ESMA; and (b) make its own assessment of how the benchmark shall be transitioned to a new administrator or be ceased to be produced, taking into account the administrator's procedure for cessation of its benchmark established in accordance with Article 17(1). During this period of time, the administrator shall not cease production of the benchmark. 3. Following completion of the assessment under paragraph 2, the competent authority shall have the power to compel the administrator to continue publishing the benchmark until such a time: (a) as the provision of the benchmark has been transferred to a new administrator; or (b) as the benchmark can be ceased in an orderly fashion; or (c) as the benchmark is no longer critical. The competent authority may compel the administrator to continue to publish the benchmark for a limited period of time not exceeding 12 months, which the competent authority may extend where necessary by up to a further 12 months.
Amendment 483 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3 a. The competent authority shall have the power to require the contributors which made the notification intending to cease contributing input data to continue to contribute input data until such time as the competent authority has completed its assessment and made a decision on taking a measure under paragraph 4a. The competent authority shall complete the assessment in no more than four weeks from the date that the notification to the competent authority was made.
Amendment 503 #
2013/0314(COD)
Proposal for a regulation
Article 14 a
Article 14 a
Amendment 520 #
2013/0314(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. An administrator shall publish, together with the benchmark statement referred to in Article 15, a procedure concerning the actions to be taken by the administrator in the event of changes to or the cessation of a benchmark or the recognition of a benchmark pursuant to Article 21a or the endorsement pursuant to Article 21b. The procedure may be drafted, where applicable, for families of benchmarks and shall be updated and published whenever a material change occurs.
Amendment 541 #
2013/0314(COD)
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
A supervised entity may use a benchmark or a combination of benchmarks in the Union as a reference in a financial instrumencontract or financial contracinstrument or to measure the performance of an investment fund if it isthey are provided by an administrators authorised or registered in accordance with Article 23 or an administrator located in a third country that is registered in accordance withpursuant to Article [20], or Article [21a] or Article 21b.
Amendment 543 #
2013/0314(COD)
Proposal for a regulation
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
1. Benchmarks provided by an administrator establishlocated in a third country may be used by supervised entities in the Union provided that the following conditions are complied withmet, unless Article 21a or Article 21b applies:
Amendment 566 #
2013/0314(COD)
Proposal for a regulation
Article 21 a (new)
Article 21 a (new)
Amendment 568 #
2013/0314(COD)
Proposal for a regulation
Article 21 b (new)
Article 21 b (new)
Amendment 607 #
2013/0314(COD)
Proposal for a regulation
Article 24 – paragraph 1 – point b
Article 24 – paragraph 1 – point b
(b) has obtained the authorisation or registration, or has endorsed a benchmark in accordance with Article 21b by making false statements or by any other irregular means;
Amendment 625 #
2013/0314(COD)
Proposal for a regulation
Article 25 a (new)
Article 25 a (new)
Article 25a Administrators´ Register 1. ESMA shall establish and maintain a public register that contains the following information: (a) the identities of the administrators authorised or registered under the provisions of Article 23 and the competent authority responsible for the supervision; (b) the identities of the administrators that have notified ESMA of their consent referred to in Article 20(1)(c) and the third-country competent authority responsible for the supervision; (c) the identities of the administrators that acquired recognition in accordance with Article 21a and the third-country competent authority responsible for the supervision; (d) the benchmarks that are endorsed in accordance with the procedure laid down in Article 21b and the identities of the endorsing administrators.
Amendment 699 #
2013/0314(COD)
Proposal for a regulation
Article 34 – paragraph 9 a (new)
Article 34 – paragraph 9 a (new)
9a. Any measure taken under Article 14 must remain in force at least until there is agreement by the college, pursuant to paragraphs 8a and 9a.
Amendment 732 #
2013/0314(COD)
Proposal for a regulation
Article 40 – paragraph 1 a (new)
Article 40 – paragraph 1 a (new)
1a. The Commission shall review the evolution of international principles applicable to benchmarks and of legal frameworks and supervisory practices in third countries concerning the provision of benchmarks and report to the Parliament and to the Council every four years after the date of the entry into force of this Regulation. This report shall be accompanied by a legislative proposal, if appropriate.
Amendment 777 #
2013/0314(COD)
Proposal for a regulation
Annex I a (new)
Annex I a (new)