14 Amendments of Thomas MANN related to 2009/0144(COD)
Amendment 164 #
Proposal for a regulation
Recital 27
Recital 27
(27) The Authority should actively promote a coordinated CommunityEU supervisory response, in particular where adverse developments could potentially jeopardisensure the orderly functioning and integrity of financial markets or the stability of the financial system in the CommunityUnion. In addition to its powers for action in emergency situations, it should therefore be entrusted with a general coordination function within the European System of Financial Supervisorsand conciliation function. The smooth flow of all relevant information between competent authorities should be a particular focus of the Authority's actions.
Amendment 190 #
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning and the quality of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
Amendment 206 #
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination and (vi) preventing regulatory arbitrage and contributing to a level playing field. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
Amendment 244 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point f a (new)
Article 6 – paragraph 2 – subparagraph 1 – point f a (new)
(fa) collect necessary information concerning market participants and market structures in order to provide complete knowledge;
Amendment 248 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point f b (new)
Article 6 – paragraph 2 – subparagraph 1 – point f b (new)
(fb) Prohibit the trading of certain products or types of transactions to prevent major damage to the orderly functioning and integrity of financial markets, including investor protection issues, or the stability of the whole or part of the financial system in the Union;
Amendment 262 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1
Article 7 – paragraph 1 – subparagraph 1
1. The Authority may develop technical standards into complete and modify elements theat areas specifically set out in not essential to the legislationve acts referred to in Article 1(2). The Authority shall submit its draft standards to the Commission for endorsement. technical standards contribute to a common rulebook but do not represent strategic decisions and their content shall be limited by the legislation on which they are based.
Amendment 271 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Article 7 – paragraph 1 – subparagraph 2
Amendment 297 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
The Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, in order to prevent a possible "race to the bottom" of national authorities concerning deliberately relaxing supervisory standards to increase the competitiveness of their financial centres and to ensuring the common, uniform and consistent application of CommunityUnion legislation, issue guidelines and recommendations addressed to competent authorities or financial market participants.
Amendment 317 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 4
Article 9 – paragraph 4 – subparagraph 4
The Authority and the competent authorities shall provide the CommissionAuthority with all necessary information in order to prevent moral hazard problems.
Amendment 344 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the Commission has adopted a decisionexistence of an emergency situation is declared pursuant to paragraph 1, the Authority mayshall adopt individual decisions requiringnecessary to ensure that competent authorities to take the necessary action with special regard to the respective impact on the budget of the Member States and in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation.
Amendment 362 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Without prejudice to the powers laid down in Article 9, where a competent authority disagrees on the procedure or content of an action or inaction by another competent authority in areas where the legislation referred to in Article 1(2) requires cooperation, coordination or joint decision making by competent authorities from more than one Member State, the Authority, on its own initiative or at the request of one or more of the competent authorities concerned, mayshall take the lead in assisting the authorities in reaching an agreement with respect to national interests and in accordance with the procedure set out in paragraphs 2 to 4.
Amendment 433 #
Proposal for a regulation
Article 22 – paragraph 2 - subparagraph 1
Article 22 – paragraph 2 - subparagraph 1
2. The Securities and Markets Stakeholder Group shall be composed of 30 members, representing in balanced proportions CommunityEU financial market participants, their employees as well as consumers, investors and users of financial serv and users of financial services. Not less than 5 of the members shall be independent top- ranking academices.
Amendment 437 #
Proposal for a regulation
Article 22 – paragraph 2 - subparagraph 1 a (new)
Article 22 – paragraph 2 - subparagraph 1 a (new)
The Group may establish working groups on technical issues to which further experts may also be appointed to ensure the availability of the necessary technical expertise.
Amendment 530 #
Proposal for a regulation
Article 27 – paragraph 1 a (new)
Article 27 – paragraph 1 a (new)
Member States, Union institutions and other public or private bodies shall not seek to influence the members of the Board of Supervisors in the performance of their tasks in order to avoid conflicts of interests and to guarantee their independence.