5 Amendments of Gunnar HÖKMARK related to 2010/0199(COD)
Amendment 55 #
Proposal for a directive
Recital 12
Recital 12
(12) The minimum level of compensation was established in 1997 and has not been modified since then. This level should be increased to EUR 530 000 in order to take into account developments in the financial markets and in the Union legislative framework. This amount takes into account the effects of inflation in the Union and the need to better align the level of compensation with the average value of investments held by retail clients in the Member States. In order to increase the protection provided to investors, it is necessary to remove the existing option for Member States to limit or exclude from cover funds in currencies other that those of the Member States.
Amendment 83 #
Proposal for a directive – amending act
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Directive 97/9/EC
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
1. Member States shall ensure that schemes provide for coverage of EUR 530 000 for each investor in respect of the claims referred to in Article 2(2a) or (2c).
Amendment 88 #
Proposal for a directive – amending act
Article 1 – point 4 –point a
Article 1 – point 4 –point a
Directive 97/9/EC
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
Members States which provide for coverage of more than EUR 530 000 at the time of adoption of this Directive, may maintain that level of coverage for no longer than 3 years from the date for the transposition of this Directive. After that date, those Member States shall ensure that the level of coverage is not less than EUR 530 000.
Amendment 102 #
Proposal for a directive – amending act
Article 1 – point 5
Article 1 – point 5
Directive 97/9/EC
Article 4a – paragraph 2 – subparagraph 1
Article 4a – paragraph 2 – subparagraph 1
2. Member States shall ensure that each scheme establishes a target fund level of at least 0.5,1% of the value of the monies and financial instruments held, administered or managed by the investment firms or UCITS that are covered by the protection of the investor compensation scheme. The value of the covered monies and financial instruments shall be calculated every year as at 1 January.
Amendment 120 #
Proposal for a directive – amending act
Article 1 – point 5
Article 1 – point 5
Directive 97/9/EC
Article 4a – paragraph 4
Article 4a – paragraph 4
4. Member States shall ensure that the schemes may make additional calls for contribution to the members of the scheme in case the target fund level is insufficient to meet the payment of the compensation claims referred to in Article 9(2). Those additional contributions shall not exceed 0.50,1% of the covered monies and financial instruments as referred to in paragraph 2 of this Article. Those additional contributions shall not jeopardise the stability of the financial system of the Member State concerned and be based on affordability criteria.