4 Amendments of Marian HARKIN related to 2009/0142(COD)
Amendment 191 #
Proposal for a regulation
Recital 14
Recital 14
(14) There is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure, also through a single rulebook, a level playing field and an adequate protection of depositors, investors and consumers across Europe. As a body with highly specialised expertise, it is efficient and appropriate to entrust the Authority, in areas defined by Community law, with the elaboration of draft technical standards, which do not involve policy choices. When drafting the technical standards the authority shall adhere to the principle of proportionality by taking into consideration the different structures and risk profiles of financial institutions. In particular, the authorities shall seek to ensure that an unnecessary burden is not placed on democratically controlled cooperatives, which play an important role in respect of combating social exclusion at the level of local communities. The Commission should endorse those draft technical standards in accordance with Community law in order to give them binding legal effect. The draft technical standards have to be adopted by the Commission. They would be subject to amendment if, for example, the draft technical standards were incompatible with Community Law, would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of Community financial services legislation. To ensure a smooth and expedited adoption process for those standards, the Commission should be subject to a time limit for its decision on the endorsement.
Amendment 270 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The Authority shall act within the scope of Directive 2006/48/EC, Directive 2006/49/EC, Directive 2002/87/EC, Directive 2005/60/EC, Directive 2002/65/EC and Directive 94/19/EC, including all directives, regulations, and decisions based on these acts, and of any further Community act which confers tasks on the Authority. The Authority shall only act within the scope of these acts to the extent that they are applicable to credit and financial institutions.
Amendment 365 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Article 7 – paragraph 1 – subparagraph 2
Before submitting them to the Commission, the Authority shall, where appropriate, conduct open public consultations on technical standards and analyse the potential related costs and benefits. The Authority shall take into consideration the different effects of the standards on democratically controlled cooperatives, within the meaning of Article 2.5 (a to e) of Directive 2008/48/EC on Consumer Credit Agreements, which play an important role in respect of combating social exclusion at the level of local communities. Technical standards shall reflect the principle of proportionality.
Amendment 521 #
Proposal for a regulation
Article 14 – paragraph 1 – point c
Article 14 – paragraph 1 – point c
(c) contribute to developing high quality and uniform supervisory standards, including reporting standards and taking into account the principle of proportionality;