21 Amendments of Caroline NAGTEGAAL related to 2017/0358(COD)
Amendment 15 #
Proposal for a directive
Recital 4
Recital 4
(4) Many of the requirements that stem from Regulation (EU) No 575/2013 and Directive 2013/36/EU framework are designed to address common risks faced by credit institutions. Accordingly, the existing requirements are largely calibrated to preserve the lending capacity of credit institutions through economic cycles and to protect depositors and taxpayers from possible failure, and are not designed to address the different risk-profiles of investment firms. Investment firms do not have large portfolios of retail and corporate loans and do not take deposits. The likelihood that their failure can have detrimental impacts for overall financial stability is lower than in the case of credit institutions. The risks faced and posed by some investment firms are thus substantially different to the risks faced and posed by credit institutions and such difference should be clearly reflected in the prudential framework of the Union.
Amendment 16 #
Proposal for a directive
Recital 7
Recital 7
(7) There may be Member States in which the authorities competent for the prudential supervision of investment firms are different from the authorities that are competent for the supervision of market conduct. It is therefore necessary to create a mechanism ofto ensure cooperation and exchange of information between those authorities.
Amendment 26 #
Proposal for a directive
Recital 24
Recital 24
Amendment 34 #
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States shall ensure that the competent authorities have the expertise, resources, operational capacity, powers and political independence necessary to carry out the functions relating to the prudential supervision, investigations and penalties set out in this Directive.
Amendment 35 #
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Competent authorities shall cooperate closely with the public authorities or bodies responsible in their Member State for the supervision of credit institutions and financial institutions. Member States shall require that those competent authorities and those public authorities or bodies exchange, without delay, any information which is essential or relevant to the exercise of their functions and duties.
Amendment 36 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
Competent authorities in each Member State shall, in the exercise of their general duties, duly consider the potential impact of their decisions on the stability of the financial system in the other Member States concerned as well as for the Union as a whole and, in particular, in emergency situations, based on the information available at the relevant time.
Amendment 39 #
Proposal for a directive
Article 11 – paragraph 6 – subparagraph 1
Article 11 – paragraph 6 – subparagraph 1
EBA, in consultlose cooperation with ESMA, shall develop draft regulatory technical standards to specify requirements for the type and nature of the information referred to in paragraphs 1 and 2 of this Article.
Amendment 40 #
Proposal for a directive
Article 11 – paragraph 7 – subparagraph 1
Article 11 – paragraph 7 – subparagraph 1
EBA, in consultlose cooperation with ESMA, shall develop draft implementing technical standards to establish standard forms, templates and procedures for the information sharing requirements which are likely to facilitate the supervision of investment firms.
Amendment 43 #
Proposal for a directive
Article 16 – paragraph 1 – subparagraph 3
Article 16 – paragraph 1 – subparagraph 3
The administrative penalties and other administrative measures shall be effective, proportionate and dissuasive and shall as far as possible be at levels comparable to the ones in other Member States.
Amendment 52 #
Proposal for a directive
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
1. Member States shall ensure that competent authorities establish effective and reliable mechanisms to, without delay, report potential or actual breaches of national provisions transposing this Directive and of [Regulation (EU) ---/---- [IFR], including the following:
Amendment 60 #
Proposal for a directive
Article 23 – paragraph 6 – subparagraph 1
Article 23 – paragraph 6 – subparagraph 1
EBA, in consultlose cooperation with ESMA, shall develop draft regulatory technical standards to specify the method for calculating the average referred to in paragraph 1(b) of this Article. EBA shall submit those draft regulatory technical standards to the Commission by [date of entry into force of this Directive].
Amendment 63 #
Proposal for a directive
Article 24 – paragraph 4
Article 24 – paragraph 4
4. EBA, in consultlose cooperation with ESMA, shall issue guidelines on the application of the governance arrangements referred to in paragraph 1.
Amendment 64 #
Proposal for a directive
Article 25 – paragraph 1
Article 25 – paragraph 1
Amendment 78 #
Proposal for a directive
Article 25 – paragraph 2
Article 25 – paragraph 2
Amendment 100 #
Proposal for a directive
Article 28 – paragraph 4 – subparagraph 1
Article 28 – paragraph 4 – subparagraph 1
EBA, in consultlose cooperation with ESMA, shall develop draft regulatory technical standards to specify appropriate criteria to identify the categories of individuals whose professional activities have a material impact on the investment firm’s risk profile as referred to in paragraph 1.
Amendment 127 #
Proposal for a directive
Article 30 – paragraph 6 – subparagraph 1
Article 30 – paragraph 6 – subparagraph 1
EBA, in consultlose cooperation with ESMA, shall develop draft regulatory technical standards to specify the classes of instruments that satisfy the conditions set out in paragraph 1(j)(3).
Amendment 131 #
Proposal for a directive
Article 30 – paragraph 7
Article 30 – paragraph 7
7. EBA, in consultlose cooperation with ESMA, shall adopt guidelines facilitating the implementation of paragraph 4 and ensuring its consistent application.
Amendment 139 #
Proposal for a directive
Article 32 – paragraph 3
Article 32 – paragraph 3
3. EBA, in consultlose cooperation with ESMA, shall issue guidelines on the application of sound remuneration policies. Those guidelines shall take into account at least the requirements referred to in Articles 28 to 31 and principles on sound remuneration policies set out in Commission Recommendation 2009/384/EC43. _________________ 43 Commission Recommendation 2009/384/EC of 30 April 2009 on remuneration policies in the financial services sector (OJ L 120, 15.5.2009, p. 22).
Amendment 140 #
Proposal for a directive
Article 32 – paragraph 4
Article 32 – paragraph 4
4. Member States shall ensure that investment firms provide competent authorities, where requested, with information on the number of natural persons per investment firm that are remunerated EUR 1 million or more per financial year, in pay brackets of EUR 1 million, including information on their job responsibilities, the business area involved and the main elements of salary, bonus, long-term award and pension contribution. Competent authorities shall forward that information to EBA, which shall publish it on an aggregate home Member State basis in a common reporting format. EBA, in consultlose cooperation with ESMA, may elaborate guidelines to facilitate the implementation of this paragraph and to ensure the consistency of the information collected.
Amendment 174 #
Proposal for a directive
Article 37 – paragraph 6 – subparagraph 1 – introductory part
Article 37 – paragraph 6 – subparagraph 1 – introductory part
EBA, in consultlose cooperation with ESMA, shall develop draft regulatory technical standards to specify how the risks and elements of risks referred to in paragraph 2 shall be measured. EBA shall ensure that the draft regulatory technical standards are proportionate in light of:
Amendment 183 #
Proposal for a directive
Article 44 – paragraph 8 – subparagraph 1
Article 44 – paragraph 8 – subparagraph 1
EBA shall, in consultlose cooperation with ESMA, develop draft regulatory technical standards to further specify the conditions under which the colleges of supervisors exercise their tasks referred to in paragraph 1.