BETA

Activities of Werner LANGEN related to 2010/0250(COD)

Plenary speeches (3)

2016/11/22
Dossiers: 2010/0250(COD)

2016/11/22
Dossiers: 2010/0250(COD)

2016/11/22
Dossiers: 2010/0250(COD)

Reports (1)

2016/11/22
Committee: ECON
Dossiers: 2010/0250(COD)
Documents: PDF(888 KB) DOC(996 KB)

Amendments (79)

Werner LANGEN, Burkhard BALZ

Proposal for a regulation
Recital 12

(12) This Regulation sets out the criteria for determining the eligibility to the clearing obligation. In view of its pivotal role, the ESA (ESMA) should decide, after consulting the Commission and the European Systemic Risk Board (ESRB) set up by Directive (EU) No 1092/2010 of the European Parliament and the Council, whether a class of derivatives meets the eligibility criteria, whether the clearing obligation should be applied and from when the clearing obligation takes effect. Bilateral clearing should continue to be authorised if the requirements for clearing are not met for certain categories of derivatives within a class of derivatives, as is sometimes the case for covered bonds.

2011/03/30
Committee: ECON

Werner LANGEN, Burkhard BALZ

Proposal for a regulation
Recital 16

(16) Where appropriate, rules applicable to financial counterparties, should also apply to non-financial counterparties. It is recognised that non-financial counterparties use OTC-contracts in order to cover themselves against commercial risks directly linked to their commercial activities. Consequently, in determining whether a non-financial counterparty should be subject to the clearing obligation, consideration should be given to the purpose for which that non- financial counterparty uses OTC derivatives and to the size of the exposures that it has in those instruments. Non-financial counterparties should explain the use of derivatives through their annual report or other appropriate means and the results of year- end audits should be used to determine whether the non-financial counterparty mainly uses OTC derivatives in a way which can be shown on an objectively measurable basis to be directly linked to the undertaking’s business activity and funding arrangements. When establishing the threshold for the clearing obligation, ESA (ESMA) should consult all relevant authorities, as for example regulators responsible for commodity markets, and the non-financial counterparties in order to ensure that the particularities of these sectors are fully taken into account. Moreover, by 31 December 2013, the Commission shall assess the systemic importance of the transactions of non- financial firms in OTC derivatives in different sectors, including the energy sector. Should a comparable set of EU rules tailored to individual sectors come into force, the Commission should immediately consider whether the sector should be removed from the scope of this Regulation and put forward corresponding legislative proposals.

2011/03/30
Committee: ECON

Proposal for a regulation
Recital 37

(37) A CCP should have a sound risk management framework to manage credit risks, liquidity risks, operational and other risks, including the risks that it bears or poses to other entities as a result of interdependencies. A CCP should have adequate procedures and mechanisms in place to deal with the default of a clearing member. In order to minimise the contagion risk of such a default, the CCP should have in place stringent participation requirements, collect appropriate initial margins, maintain a default fund and other financial resources to cover potential losses. The development of a highly robust risk management should remain the primary objective of a CCP. However, it may adapt its features to the specific activities and risk profiles of the clients of the clearing members, and if deemed appropriate, may include in the scope of the highly liquid assets accepted as collateral, at least cash and government bonds subject to adequate haircuts.

2011/03/30
Committee: ECON

Proposal for a regulation
Recital 51

(51) According to Article 291 TFEU, rules and general principles concerning mechanisms for the control by Member States of the Commission's exercise of implementing powers are to be laid down in advance by a Regulation adopted in accordance with the ordinary legislative procedure. Pending the adoption of that new Regulation, Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission continues to apply, with the exception of the regulatory procedure with scrutiny, which is not applicable.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 6 – subparagraph 1 – introductory part

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the following:

2011/03/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 6 – subparagraph 3

~~The draft~~ESMA shall submit drafts for those regulatory standards to the Commission by 30 June 2012. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 6 – subparagraph 4

~~ESMA shall submit drafts for those regulatory standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 4 – subparagraph 1

~~Powers are delegated to the Commission~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards to determine the details and type of the reports referred to in paragraphs 1 and 2 for the different classes of derivatives.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 4 – subparagraph 3

~~The draft~~ESMA shall submit drafts for those regulatory standards to the Commission by 30 June 2012. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with [Articles 710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 4 – subparagraph 4

~~ESMA shall develop draft regulatory technical standards for submission to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 5 – subparagraph 1

5. In order to ensure uniform conditions of application of paragraphs 1 and 2, ~~powers are conferred upon the Commission~~ESMA shall develop draft implementing technical standards to determine format and frequency of the reports referred to in paragraphs 1 and 2 for the different classes of derivatives. ~~The~~ESMA shall develop draft implementing ~~standards referred to in the first subparagraph shall be adopted in accordance with [Article 7e] of Regulation …/… [ESMA Regulation]. ESMA shall develop~~technical standards for submission to the Commission by 30 June 2012. Power is conferred on the Commission to adopt the draft implementing thechnical standards ~~for submission to the Commission by 30 June 2012~~referred to in the first subparagraph in accordance with Article 15 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 5 – subparagraph 2

~~ESMA shall develop draft implementing technical standards for submission to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1 – introductory part

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with the ESRB and other relevant authorities, shall develop draft regulatory technical standards specifying:

2011/03/30
Committee: ECON

Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2

Those thresholds shall be determined taking into account the systemic relevance of the sum of net positions and exposures by counterparty per class of derivatives. ESMA, in consultation with the European Systemic Risk Board ("ESRB") and other relevant authorities, shall submit drafts for those regulatory standards to the Commission by 30 June 2012 at the latest.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 3

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 4

~~ESMA, in consultation with the European Systemic Risk Board ("ESRB") and other relevant authorities, shall submit drafts for those regulatory standards to the Commission by 30 June 2012 at the latest.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 8 – paragraph 3 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, EBA, ESMA and EIOPA shall develop draft regulatory technical standards specifying the arrangements and levels of collateral and capital required for compliance with paragraph 1(b) and the second subparagraph of paragraph 1. EBA, ESMA and EIOPA shall submit, jointly, a common draft to the Commission for those regulatory technical standards by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 8 – paragraph 3 – subparagraph 2

Depending on the legal nature of the counterparty, power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with either Articles [710 to ~~7d]~~14 of Regulation EU…/…[ EBA], Articles [710 to ~~7d]~~14 of Regulation EU…/…[ESMA] or Articles [710 to ~~7d]~~14 of Regulation EU…/…[ EIOPA].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 8 – paragraph 3 – subparagraph 3

~~EBA, ESMA and EIOPA shall submit, jointly, a common draft to the Commission for those regulatory technical standards by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 10 – paragraph 5 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the criteria for adequate liquidity referred to in paragraph 1. EBA shall, in consultation with ESMA, submit a draft to the Commission for those regulatory technical standards by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 10 – paragraph 5 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 10 – paragraph 5 – subparagraph 3

~~EBA shall, in consultation with ESMA, submit a draft to the Commission for those regulatory technical standards by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 13 – paragraph 2

2. TFor the initial authorization, the applicant CCP shall provide all information, necessary to enable the competent authority to satisfy itself that the applicant CCP has established, at the time of initial authorisation, all the necessary arrangements to meet its obligations set out in this Regulation. For authorization for an extension of activities and services, the applicant CCP shall provide the information necessary to enable the competent authority to satisfy itself that the applicant CCP continues to meet its obligations set out in this Regulation

2011/03/30
Committee: ECON

Proposal for a regulation
Article 13 – paragraph 3

3. ~~Within six~~For the initial authorization, within six months of the submission of a complete application, the competent authority shall inform the applicant CCP in writing whether the authorisation has been granted. For authorization for an extension of activities and services, within two months of the submission of a complete application, the competent authority shall inform the applicant CCP in writing whether the authorisation has been granted.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2 – point d

~~(d) the competent authorities responsible for the supervision of regulated markets, or multilateral trading facilities, served by the CCP or both;~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2 – point e

~~(e) the competent authorities supervising CCPs with whom interoperability arrangements have been establish~~deleted;

2011/03/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 2 – point c

~~(c) agreement on the voluntary entrustment of tasks among its members;~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 2 – point d

(d) the ~~determ~~coordination of supervisory examination programmes based on a risk assessment of the CCP;

2011/03/30
Committee: ECON

Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 1

TFor the purposes of the initial authorization, the competent authority of the Member State where the CCP is established shall conduct a risk assessment of the CCP and submit a report to the college within four months of the submission of a complete application by the CCP.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 15 – paragraph 1 a (new)

1 a. For the purposes of authorization for extension of activities and services, the competent authority of the Member State where the CCP is established shall conduct a risk assessment of the extension of activities and services on the CCP and submit a report to the college within one month. The college shall reach a joint opinion on that report within one month of receiving it.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 15 – paragraph 2

2. A positive or negative joint opinion of the college requires agreement among a simple majority of members, including the competent authority of the Member State where the CCP is established, with the assessment of the competent authority of the Member State where the CCP is established. In case of delay or disagreement, ESMA shall facilitate the adoption of a joint opinion in accordance with its settlement of disagreement powers under Article 11 of Regulation …/… [ESMA Regulation] and its general coordination function under Article 16 of the same Regulation. It shall have no voting rights on joint opinions of the college.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 23 – paragraph 2 – point a

(a) the Commission has adopted a ~~Decision~~delegated act in accordance with paragraph 3;

2011/03/30
Committee: ECON

Proposal for a regulation
Article 23 – paragraph 3

3. The Commission ~~may adopt a Decision in accordance with the procedure referred to in~~shall be empowered to adopt delegated acts in accordance with Article 6~~9(2),~~7a (new) determining that the legal and supervisory arrangements of a third country ensure that CCPs authorised in that third country comply with legally binding requirements which are equivalent to the requirements resulting from this Regulation and that these CCPs are subject to effective supervision and enforcement in that third country on an ongoing basis.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 24 – paragraph 9 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the minimum content of the rules and governance arrangements referred to in paragraphs (1) to (8). ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 24 – paragraph 9 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 24 – paragraph 9 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 4 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the details of the records and information to be retained as referred to in paragraphs 1 and 2. ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 4 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 4 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 5 – subparagraph 1

In order to ensure uniform conditions of application of paragraph 1 and 2, ~~powers are conferred to the Commission~~ESMA shall develop draft implementing technical standards to determine the format of the records and information to be retained. ESMA shall submit drafts on those implementing technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 5 – subparagraph 2

~~The~~Power is conferred on the Commission to adopt the draft implementing technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with [Article ~~7e]~~15 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 5 – subparagraph 3

~~ESMA shall submit drafts on those implementing technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the minimum content of the business continuity plan and the minimum level of services that the disaster recovery plan shall guarantee. ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 37 – paragraph 5 – subparagraph 1 (new)

The relevant trigger events shall include insolvency of a clearing member and appropriate events, and failure to meet existing obligations. In order to ensure consistent harmonisation of this Article, ESMA shall develop draft technical standards specifying the relevant events in greater detail. ESA (ESMA) shall submit draft for those regulatory technical regulatory standards to the Commission by 30 June 2012. Power is delegated to the Commission to adopt the regulatory technical standards in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 39 – paragraph 5 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, shall develop draft regulatory technical standards specifying the appropriate percentage and time horizon, as referred to in paragraph 1, to be considered for the different classes of financial instruments. ESMA, in consultation with EBA, shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 39 – paragraph 5 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 39 – paragraph 5 – subparagraph 3

~~ESMA, in consultation with EBA, shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 40 – paragraph 3 a (new)

3 a. In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, shall develop draft regulatory technical standards specifying the details of default funds referred to in paragraphs 1 and 3. ESA (ESMA) shall, in close cooperation with the ESCB, submit drafts for those regulatory technical standards to the Commission by 30 June 2012. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 41 – paragraph 5 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, shall develop draft regulatory technical standards specifying the extreme conditions referred to in paragraph 2 that the CCP shall withstand. ESMA, in consultation with EBA, shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 41 – paragraph 5 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles 710 to 7d14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 41 – paragraph 5 – subparagraph 3

~~ESMA, in consultation with EBA, shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with ESRB and EBA, shall develop draft regulatory technical standards specifying the type of collateral that can be considered highly liquid and the haircuts referred to in paragraph 1. ESMA, in consultation with the ESCB and EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 43 – paragraph 3 – subparagraph 3

~~ESMA, in consultation with the ESCB and EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 44 – paragraph 5 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, shall develop draft regulatory technical standards specifying the highly liquid financial instruments referred to in paragraph 1 and the concentration limits referred to in paragraph 4. ESMA, in consultation with EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 44 – paragraph 5 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 44 – paragraph 5 – subparagraph 3

~~ESMA, in consultation with EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 46 – paragraph 4 – subparagraph 1 – introductory part

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA, in consultation with EBA, shall develop draft regulatory technical standards specifying the following:

2011/03/30
Committee: ECON

Proposal for a regulation
Article 46 – paragraph 4 – subparagraph 2

TESMA, in consultation with EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 46 – paragraph 4 – subparagraph 3

~~ESMA, in consultation with EBA, shall submit drafts on those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 3 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the details of the application for registration to ESMA referred to in paragraph 1. ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 3 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 3 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 4 – subparagraph 1

In order to ensure uniform application of paragraph 1, ~~powers are conferred to the Commission to adop~~ESMA shall develop draft implementing technical standards determining the format of the application for registration to ESMA. ESMA shall submit drafts for those standards to the Commission by 30 June 2012.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 4 – subparagraph 2

~~The~~Power is conferred on the Commission to adopt the draft implementing technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Article 7e15 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 52 – paragraph 4 – subparagraph 3

~~ESMA shall submit drafts for those standards to the Commission by 30 June 2012.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 55 – paragraph 4 – subparagraph 1 – introductory part

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards concerning:

2011/03/30
Committee: ECON

Proposal for a regulation
Article 55 – paragraph 4 – subparagraph 2

~~The regulatory technical standards referred~~ ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012 at the latest. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 55 – paragraph 4 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012 at the latest.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article 63 – paragraph 3

3. The Commission ~~may adopt a Decision in accordance with the procedure referred to in~~shall be empowered to adopt delegated acts in accordance with Article 6~~9(2~~7a (new), determining that the legal and supervisory arrangements of a third country ensure that trade repositories authorised in that third country comply with legally binding requirements which are equivalent to the requirements set out in this Regulation and that these trade repositories are subject to effective supervision and enforcement in that third country on an ongoing basis.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 67 – paragraph 4 – subparagraph 1

~~Powers are delegated to the Commission to adop~~In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards specifying the details of the information referred to in paragraphs (1) and (2). ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012 at the latest.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 67 – paragraph 4 – subparagraph 2

TPower is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph ~~shall be adopted~~ in accordance with Articles [710 to ~~7d]~~14 of Regulation …/… [ESMA Regulation].

2011/03/30
Committee: ECON

Proposal for a regulation
Article 67 – paragraph 4 – subparagraph 3

~~ESMA shall submit drafts for those regulatory technical standards to the Commission by 30 June 2012 at the latest.~~deleted

2011/03/30
Committee: ECON

Proposal for a regulation
Article -68 (new) (After Title VIII)

Article -68 Delegated acts 1. The power to adopt delegated acts is conferred to the Commission subject to the conditions laid down in this Article. 2. The delegation of power referred to in Article 23 and Article 63 shall be conferred to the Commission for an indeterminate period of time. 3. Before adopting a delegated act, the Commission shall endeavour to consult the ESMA. 4. A delegation of power referred to in Article 23 and Article 63 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of power specified in that decision. The decision to revoke shall take effect on the day following that of its publication in the Official Journal of the European Union or on a later date specified therein. It shall not affect the validity of any delegated acts already in force. 5. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council 6. A delegated act adopted pursuant Article 23 and Article 63 shall enter into force only if no objection has been expressed by either the European Parliament or the Council within a period of three months of notification of the act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament or the Council have both informed the Commission that they will not object. That period shall be extended by three months at the initiative of the European Parliament or of the Council.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 69 – paragraph 1

1. The Commission shall be assisted by the European Securities Committee established by Commission Decision 2001/528/EC37 [1]. That committee shall be a committee within the meaning of Regulation (EU) N°182/2011. [1] OJ L 191, 13.7.2001, p.45.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 69 – paragraph 2

2. Where reference is made to this paragraph, Article 5 ~~and Article 7 of Decision 1999/468/EC~~of Regulation (EU) N°182/2011 shall apply, having regard to the provisions of Article 8 thereof.

2011/03/30
Committee: ECON

Proposal for a regulation
Article 69 – paragraph 3

~~3. The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months.~~deleted

2011/03/30
Committee: ECON