4 Amendments of Pervenche BERÈS related to 2012/2115(INI)
Amendment 40 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that a fuller overview and better monitoring and analysis will allow the identification of both those aspects of the SB system which have beneficial effects for the real economy and those raising concerns related to systemic risk or regulatory arbitrage; stresses the need for stronger risk assessment procedures, disclosure and oversight, for all institutions presenting a concentrated risk profile; stresses the need to take into account the existing or future databases, in particular the trade repositories put in place by EMIR; recalls the commitments made by the G20 at its Los Cabos summit to establish a legal entity identifier system and stresses the need to ensure adequate representation of European interests in its governance;
Amendment 104 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Takes note of the importance of the repo and security lending market; invites the Commission to adopt measures, by the beginning of 2013, to increase transparency, particularly for clients, as well as to allow regulators to impose minimum haircuts or margin levels for the collateralised financing markets; acknowledges in this context the importance of clearly determining the ownership of securities and ensuring its protection; nevertheless invites the Commission to engage in a comprehensive debate on margins in addition to the sectoral approaches that have already been embarked on;
Amendment 110 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Believes that incentives associated with securitisation need to be adequately addressed; invites the Commission to examine the securitisation market and to submit a legislative proposal at the latest by the beginning of 2013 for limiting the number of times a financial product can be securitised; calls on it to adopt a direct approach and impose particular requirements on suppliers of securitisation (e.g. originators or sponsors) to retain part of the risks associated with securitisation and of measures to achieve transparency, by the introduction of an external valuer of the underlying assets and standardisation of securitisation products as well as resolution processes; also calls on the Commission to consider the possibility of provisions to ensure investors are given better information through (i) publication of a base scenario on the performance of the securitised product and (ii) provision of flow modelling tools;
Amendment 129 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the benefits Exchange Traded Funds (ETFs) provide by giving retail investors access to a wider range of assets (such as commodities, in particular), but stressesand also the risks ETFs carry in terms of complexity, counterparty risk, liquidity of products and possible regulatory arbitrage; invites the Commission, therefore, to submit a legislative proposal at the beginning of 2013 to tackle these potential structural vulnerabilitiesupports the work done by ESMA, which has in 2012 developed appropriate guidelines tailored to ETF issues; invites the Commission, therefore, to promote the implementation and application of these guidelines and recommendations;