4 Amendments of Thomas MANN related to 2011/0298(COD)
Amendment 288 #
Proposal for a directive
Recital 52
Recital 52
(52) In order to give all relevant information to investors, it is appropriate to require investment firms providing investment advice to clarify the basis of the advice they provide, notably the range of products they consider in providing personal recommendations to clients, whether they provide investment advice on an independent basis and whether theyis provided in conjunction with the acceptance or receipt of third-party inducements and whether the investment firms provide the clients with the on-goingperiodic assessment of the suitability of the financial instruments recommended to them. It is also appropriate to require investment firms to explain their clients the reasons of the advice provided to them. In order to further define the regulatory framework for the provision of investment advice, while at the same time leaving choice to investment firms and clients, it is appropriate to establish the conditions for the provisions of this service when firms inform clients that the seradvice is provided on an independent basis. In order to strengthen the protection of investors and increase clarity to clients as to the service they receive, it is appropriate to further restrict tin conjunction with the acceptance or receipt of third- party inducements. When possibility for firms to accept or receive inducements from third parties, and particularly from issuers or product providers, when providroviding portfolio management to professional and retail clients withing the service of investment advmeaning of Article on an independent basis and the service of portfolio management. In such cases, only limited non-monetary benefits as training on the features of the products should be allowed subject to the condition that they do not impair the ability of investment firms to pursue the best interest of their clients, as further clarified in Di4(1) points 9 and 10, the investment firm should, prior to the agreement, inform the client about the expected scale of inducements, and periodic reports should disclose all inducements paid or recteive 2006/73/ECd.
Amendment 764 #
Proposal for a directive
Article 24 – paragraph 6
Article 24 – paragraph 6
6. When providing portfolio management the investment firm shall not accept or receive fees, commissions or any monetary benefits paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to clientso professional or retail clients within the meaning of Article 4 (2) point (9) and (10) the investment firm shall, prior to the agreement, inform its client about the expected scale of inducements. The periodic report shall disclose all inducements paid or received in the preceding period.
Amendment 873 #
Proposal for a directive
Article 30 – paragraph 1 – subparagraph 1
Article 30 – paragraph 1 – subparagraph 1
Member States shall ensure that investment firms authorised to execute orders on behalf of clients and/or to deal on own account and/or to receive and transmit orders and/or providing portfolio management, may bring about or enter into transactions with eligible counterparties without being obliged to comply with the obligations under Articles 24 (with the exception of paragraph 3), 25 (with the exception of paragraph 5) , 27 and 28(1) in respect of those transactions or in respect of any ancillary service directly related to those transactions.
Amendment 1236 #
Proposal for a directive
Article 75 – paragraph 1 – point n
Article 75 – paragraph 1 – point n
(n) an investment firm repeatedly failing to obtainstrive for the best possible result for clients when executing orders and failing toby establishing arrangements in accordance with national provisions implementing Article 27 and Article 28;