4 Amendments of Tom VANDENKENDELAERE related to 2014/0091(COD)
Amendment 393 #
Proposal for a directive
Recital 39
Recital 39
(39) All pPersons that perform kewho effectively frunctions should be fit and proper. However, only the the institution or who perform key function holders should be subject to notification requirements to the competent authorityfit and proper.
Amendment 573 #
Proposal for a directive
Article 25 – paragraph 1
Article 25 – paragraph 1
1. Member States shall require institutions to incorporate a risk-management function, an internal audit function, an internal control system and, where applicable, an actuarial function. The reporting lines associated with each key function shall ensure the key function’s ability to undertake its duties effectively in an objective, fair and independent manner.
Amendment 577 #
Proposal for a directive
Article 25 – paragraph 3
Article 25 – paragraph 3
3. Without prejudice to the role of social partners in the overall management of institutions, the person or organisational unit carrying out the key function shall be different from the one carrying out a similar key function in the sponsoring undertaking. On the basis of a reasoned request from the institutionProvided that the institution explains, in the risk evaluation for pensions referred to in Article 29, how it prevents conflict of interests with the sponsoring undertaking, the competent authority may grant an exemption from this restriction taking into account the size, nature, scope and complexity of the activities of the institution.
Amendment 592 #
Proposal for a directive
Article 26 a (new)
Article 26 a (new)
Article 26a Internal control system Member States shall require institutions to provide for an effective internal control system. The internal control system shall at least include administrative and accounting procedures, an internal control framework and appropriate reporting obligations at all levels of the institution.