BETA

26 Amendments of Werner LANGEN related to 2017/0230(COD)

Proposal for a regulation
Recital 23

(23) In order to provide for an appropriate level of expertise and accountability, the Chairperson and the members of the Executive Board should be appointed on the basis of merit, skills, knowledge and practical experience of clearing, post-trading and financial matters, as well as experience relevant to the financial supervision. To ensure transparency and democratic control, as well as to safeguard the rights of the Union institutions, the Chairperson and the members of the Executive Board should be chosen on the basis of an open selection procedure. The Commission should establish a shortlist and submit that shortlist to the European Parliament for approval. Following that approval, the Council should adopt a decision to appoint the members of the Executive Board. The Chairperson and the full time members of the Executive Board should be accountable to the European Parliament and to the Council for any decisions taken on the basis of the founding Regulations.

2018/09/11
Committee: ECON

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

Regulation (EU) No 1093/2010
Article 1 – paragraph 5 – subparagraph 4

(1a) in paragraph 5 of Article 1, subparagraph 4 is replaced by the following: "When carrying out its tasks, the Authority shall act independently, objectively and in a non-discriminatory and transparent manner, in the interests of the Union as a whole. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~” (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b

Regulation (EU) No 1095/2010
Article 16 – paragraph 2

2. The Authority shall, save in exceptional circumstances, conduct open public consultations regarding the guidelines and recommendations which it issues and shall analyse the related potential costs and benefits of issuing such guidelines and recommendations. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. The Authority shall, save in exceptional circumstances, also request opinions or advice from the Banking Stakeholder Group referred to in Article 37. When the Authority does not conduct open public consultations or does not request advice from the Securities and Markets Stakeholder Group, it shall provide the reasons.;

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b a (new)

Regulation (EU) No 1093/2010
Article 16 – paragraph 2 a (new)

(ba) the following paragraph 2a is inserted: “2a. Three months before delivering any of the guidelines and recommendations mentioned in paragraph 1a and paragraph2a, the Authority shall inform the European Parliament and the Council of its intention regarding the content of these guidelines and recommendations.” (This amendment also applies throughout Article 2 and Article 3)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point d

Regulation (EU) No 1093/2010
Article 16 – paragraph 5 – subparagraph 1

Where two thirds of the members of the Banking Stakeholder Group ~~are of the opinion~~consider that the Authority has exceeded its competence by issuing ~~certain~~a guidelines or a recommendations pursuant to paragraph 1, they may send a reasoned opinion t~~o the Commission.~~hereon to the European Parliament, the Council and the Commission. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 1 – subparagraph 1

Upon the entry into application of Regulation [XXX insert reference to amending Regulation] and every three years thereafter by 31 March, the Authority shall issue a recommendation addressed to competent authorities, laying down supervisory strategic objectives and priorities ("Strategic Supervisory Plan") and, taking into account any contributions from competent authorities,. The Authority shall transmit the Strategic Supervisory Plan for ~~information~~approval to the European Parliament, the Council and the Commission and shall make it public on its website. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 1 – subparagraph 2

The Strategic Supervisory Plan shall identify specific priorities for supervisory activities in order to promote consistent, efficient and effective supervisory practices and the common, uniform and consistent application of Union law and to address relevant micro-prudential trends, potential risks and vulnerabilities identified in accordance with Article 32. so long as these priorities are best achieved at EU level and do not go beyond what is necessary to achieve the tasks and duties of the Authority. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

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

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 1

2. The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration ~~related t~~of a financial institution which iswould be under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial institution entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. ~~The notification to the Authority shall be sufficiently detailed to allow for a proper assessment. by the Authority.~~

2018/09/14
Committee: ECON

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

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 2

Where the Authority considers it necessary to issue an opinion to a competent authority regarding the non- compliance of an authorisation or registration notified pursuant to the first subparagraph with Union law or guidelines, recommendations or opinions adopted by the Authority, the Authority shall inform that competent authority thereof within 20 working days of the receipt of the notification by that competent authority. In that case the competent authority concerned shall await the opinion of the Authority before carrying out the registration or authorisation.deleted (This amendment also applies throughout Article 2 and Article 3.))

2018/09/14
Committee: ECON

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

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 3

At the request of the Authority, the competent authority shall within 15 working days of the receipt of such a request provide information related to its decisions to authorise or register a financial institution which is under its supervision in accordance with the acts referred to indeleted (This amendment also applies throughout Article 2 and Article ~~1(2).~~3.)

2018/09/14
Committee: ECON

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

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 4

~~The Authority shall issue the opinion, without prejudice to any time limits set out in Union law, at the latest within 2 months of the receipt of the notification pursuant to the first subparagraph.~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point a

Regulation (EU) No 1093/2010
Article 35 – paragraph 2

2. The Authority may also request information to be provided at recurring intervals and in specified formats or by way of comparable templates approved by the Authority. Such requests shall, where possible, be made using ~~common~~existing reporting formats. and respecting the principle of proportionality. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b – paragraph 1 – introductory part

1. Where information requested under paragraph 1 or paragraph 5 of Article 35 is not available or is not made available within the time limit set by the Authority, it may ~~by simple request or by decision require the following institutions and entities to provide all necessary information~~require the relevant national authorities to provide all necessary information or collect them from the relevant stakeholder (s) in order to enable the Authority to carry out its duties under this Regulation:. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b – paragraph 2 – point a

~~(a) relevant financial institutions;~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 1 – point b

~~(b) holding companies or branches of a relevant financial institution;~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 1 – point c

~~(c) non-regulated operational entities within a financial group or conglomerate that are significant to the financial activities of the relevant financial institutions.~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 2

~~2. Any simple request for information referred to in paragraph 1shall: (a) ba~~deleted refer to this Article as the legal state the purpose of thate request; ~~(b) (c) (d)~~specify the information ~~is to be provided; (e) obligation on the person from whom the information is requested to provide that information but that in case of a voluntary reply to the request,~~required; include a time limit within which include a statement that there i~~nformation provided must not b~~s no indicate the amount of the fin~~correct or misleading; (f) be issued in accordance with Article 35c where the information provided is incorrect or misleading information.~~e to (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 3

~~3. When requesting information by decision, the Authority shall: (a) ba~~deleted refer to this Article as the legal state the purpose of thate request; (b) (c) (d) set a time limit within which the information is to be provided; (e) indicate the periodic penalty payments provided for in Article 35d where the production of the required information is incomplete; (f) Article 35c where the answers to the questions are incorrect or misleading information; (g) decision before the Board of Appeal and to have the decision reviewed by the Cspecify the information required; indicate the fine provided for in indicate the right to appeal the (This amendment also applies throughourt ~~of Jus~~Article ~~of the European Union in accordance with Articles 60 and 61.~~2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 4

4. The relevant institutions and entities listed in paragraph 1 or their representatives and, in the case of legal persons or associations having no legal personality, the persons authorised to represent them by law or by their constitution shall supply the information requested. Lawyers duly authorised to act may supply the information on behalf of their clients. The latter shall remain fully responsible if the information supplied is incomplete, incorrect or misleading.Within a reasonable time frame set by the Authority, the relevant national authorities shall supply the information requested. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b– paragraph 5

5. The authority shall send, without delay, a copy of the simple request or of its decision to the competent authority of the Member State where the relevant entity listed in paragraph 1 concerned by the request for information is domdeleted (This amendment also applies throughout Article 2 and Articile~~d or established.~~ 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 30

Regulation (EU) No 1093/2010
Article 45 – paragraph 2 – subparagraph 1

The full time members shall be selected on the basis of merit, skills, knowledge and practical experience of financial institutions and markets, and experience relevant to financial supervision and regulation. The full time members shall have extensive management experience. The selection shall be based on an open call for candidates, to be published in the Official Journal of the European Union, following which the Commission shall draw up a shortlist of qualified candidates. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 30

3. Where a full time member of the Executive Board no longer fulfils the conditions set out in Article 46 or has been found guilty of serious misconduct, the ~~Council may, on a proposal from the Commission which has been approved by the European Parliament, adopt a decision to remove him or her from office.~~European Parliament and the Council may, on their own initiative or on a proposal from the Commission, adopt a decision to remove him or her from office. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 42

Regulation (EU) No 1093/2010
Article 60 – paragraph 1

1. Any natural or legal person, including competent authorities, may appeal against a decision of the Authority referred to in Articles 16, 16a, 17, 18, 19, and 35 including regarding its proportionality and any other decision taken by the Authority in accordance with the Union acts referred to in Article 1(2) which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 43 – point a

(a) a balancing contribution from the Union, entered in the General Budget of the Union (Commission section) which shall ~~not exceed 40~~be at least 35% of the estimated revenues of the Authority; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 43 – point a

Regulation (EU) No 1093/2010
Article 62 – paragraph 1 – point a a (new)

(a a) mandatory contributions of up to 65% of the projected revenues of the Authority from the national competent authorities for the supervision of financial institutions. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 45

Regulation (EU) No 1093/2010
Article 63 – paragraph 1b

1b. The ~~draft~~ single programming document shall be transmitted by the Executive Board to the Commission, the European Parliament and the Council ~~by 31 January.~~and the European Court of Auditors by 31 January. Without prejudice to the adoption of the annual budget, the European Parliament shall approve the single programming document. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON