Activities of Antolín SÁNCHEZ PRESEDO related to 2009/0161(COD)
Plenary speeches (4)
Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (A7-0163/2010, Antolín Sánchez Presedo) (vote)
Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (A7-0163/2010, Antolín Sánchez Presedo) (vote)
Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)
Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)
Reports (1)
REPORT Report on the proposal for a directive of the European Parliament and of the Council Amending directives 1998/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC in respect of the powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority PDF (1 MB) DOC (2 MB)
Amendments (31)
Amendment 372 #
Proposal for a directive – amending act
Recital 11
Recital 11
(11) The Regulations establishing the ESFS provide for a mechanism to settle disagreements between competent national authorities. Where a competent authority disagrees onwith the procedure or content of an action or inaction by another competent authority in areas specified in Union legislation in accordance with Regulation .../...[EBA], Regulation .../...[ESMA] and Regulation .../...[EIOPA], where the relevant legislation requires cooperation, coordination or joint decision making by competent national authorities from more than one Member State, the European Supervisory Authorities, at the request of one of the competent authorities concerned, may assist the authorities in reaching an agreement within the time limit set by the European Supervisory Authority which takes into account any relevant time limits in the relevant legislation, and the urgency and complexity of the disagreement. In the event that such disagreement persists, the European Supervisory Authorities may settle the matter.
Amendment 378 #
Proposal for a directive – amending act
Article 2 – point 1 c (new)
Article 2 – point 1 c (new)
Directive 2002/87/EC
Article -10
Article -10
(1c) The following article is inserted in Section 3 before Article 10: "Article -10 1. Financial conglomerates shall be subject to supplementary and European supervision by the Joint Committee of the European Supervisory Authorities and the national competent authorities. 2. The Joint Committee of the European Supervisory Authorities shall exercise the European supervision of financial conglomerates, in order to ensure coherent cross-sectoral and cross-border compliance in accordance with European Union legislation. The Joint Committee of the European Supervisory Authorities shall act through a coordinator appointed by the national competent authorities for the supplementary supervision, who shall also act on behalf of the Joint Committee of the European Supervisory Authorities. 3. The coordinators of EU financial conglomerates shall be subject to general and cross-border coordination by the Joint Committee of the European Supervisory Authorities."
Amendment 380 #
Proposal for a directive – amending act
Article 2 – point 5 b (new)
Article 2 – point 5 b (new)
Directive 2002/87/EC
Article 21 b (new)
Article 21 b (new)
(5b) The following Article is inserted after Article 21a: "Article 21b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 387 #
Proposal for a directive – amending act
Article 3 – point 3 f (new)
Article 3 – point 3 f (new)
Directive 2003/6/EC
Article 17 b (new)
Article 17 b (new)
(3f) The following Article is inserted after Article 17a: "Article 17b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. On the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 403 #
Proposal for a directive – amending act
Article 5 – point 8 i (new)
Article 5 – point 8 i (new)
Directive 2003/71/EC
Article 24 b (new)
Article 24 b (new)
Amendment 404 #
Proposal for a directive – amending act
Article 6 – point -1 (new)
Article 6 – point -1 (new)
Directive 2004/39/EC
Article 2 – paragraph 3
Article 2 – paragraph 3
Amendment 407 #
Proposal for a directive – amending act
Article 6 – point 2
Article 6 – point 2
Directive 2004/39/EC
Article 7 – paragraph 4 –subparagraph 1
Article 7 – paragraph 4 –subparagraph 1
4. In order to ensure consistent harmonisation and uniform application of this Article and of Articles 7, 9(2)-(4), 5(4), Article 9(2) to (4), Article 10(1)- and (2), and Article 12, the European Securities and Markets Authority mayshall develop draft technical standards to determ: (a) specify the requirements regardineg the conditions of application of the requirements and procedures for such authorisation as laid down in this Article and inhead office under Article 5(4); (b) determine the information to be provided to the competent authorities under Article 7(2); (c) determine the information and develop standard forms, templates and procedures for the notification provided for in Article 9(2); (d) specify the requirements under Articles 7, 9(2)-(4), to (4) and Article 10(1)- and (2); and (e) specify the initial capital requirement under Article 12.
Amendment 410 #
Proposal for a directive – amending act
Article 6 – point 3
Article 6 – point 3
Directive 2004/39/EC
Article 10a – paragraph 8 – subparagraph 1
Article 10a – paragraph 8 – subparagraph 1
8. In order to ensure consistent harmonisation and uniform application of this Article, the European Securities and Markets Authority shall develop draft technical standards to determine the conditions of application relating to the list of information required for the assessment of an acquisition as referred to in paragraph 1, the criteria for opposing acquisitions as referred to in paragraph 4 and the modalities of the consultation process between the relevant competent authorities as referred to in Article 10 (4). The Authority shall submit those draft technical standards to the Commission by 1 January 2014.
Amendment 412 #
Proposal for a directive – amending act
Article 6 – point 3 c (new)
Article 6 – point 3 c (new)
Directive 2004/39/EC
Article 19 – paragraph 10 – subparagraph 1 – introductory part
Article 19 – paragraph 10 – subparagraph 1 – introductory part
(3c) In Article 19(10), the introductory wording of the first subparagraph is replaced by the following: "10. In order to ensure the necessary protection of investors and consistent harmonisation and the uniform application of paragraphs 1 to 8, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, ensure that investment firms comply with the principles set out therein when providing investment or ancillary services to their clients. Those delegated acts shall take into account:"
Amendment 417 #
Proposal for a directive – amending act
Article 6 – point 3 h (new)
Article 6 – point 3 h (new)
Directive 2004/39/EC
Article 23 – paragraph 3 – subparagraph 5
Article 23 – paragraph 3 – subparagraph 5
(3h) Article 23(3), the fifth subparagraph is replaced by the following: "The register shall be updated on a regular basis. It shall be published on the internet and available for consultation. The European Securities and Markets Authority shall establish a list of all appointed tied agents of the investment firms throughout the Union. The European Securities and Markets Authority shall publish that list on its website and shall keep it up to date."
Amendment 426 #
Proposal for a directive – amending act
Article 6 – point 7 a (new)
Article 6 – point 7 a (new)
Directive 2004/39/EC
Article 51 – paragraph 2 a (new)
Article 51 – paragraph 2 a (new)
(7a) In Article 51, the following paragraph is inserted after paragraph 2: "2a. Member States shall inform the European Securities and Markets Authority of the administrative measures or sanctions determined in accordance with paragraphs 1 and 2."
Amendment 427 #
Proposal for a directive – amending act
Article 6 – point 8 d (new)
Article 6 – point 8 d (new)
Directive 2004/39/EC
Article 56 – paragraph 5
Article 56 – paragraph 5
(8d) Article 56(5) is replaced by the following: "5. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define the modalities for the cooperation of the competent authorities and establish the criteria under which the operations of a regulated market in a host Member State could be considered as of substantial importance for the functioning of the securities markets and the protection of the investors in that host Member State [...]."
Amendment 430 #
Proposal for a directive – amending act
Article 6 – point 14 c (new)
Article 6 – point 14 c (new)
Directive 2004/39/EC
Article 64 b (new)
Article 64 b (new)
(14c) The following Article is inserted after Article 64a: "Article 64b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 433 #
Proposal for a directive – amending act
Article 7 – point 3 h (new)
Article 7 – point 3 h (new)
Directive 2004/109/EC
Article 27 b (new)
Article 27 b (new)
(3h) The following Article is inserted after Article 27a: "Article 27b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 434 #
Proposal for a directive – amending act
Article 8 – point -1 b (new)
Article 8 – point -1 b (new)
Directive 2005/60/EC
Article 16 – paragraph 2
Article 16 – paragraph 2
(-1b) Article 16(2) is replaced by the following: "2. Member States shall inform each other, the ESAs and the Commission of cases where they consider that a third country meets the conditions laid down in paragraph 1(b). The ESAs shall publish the list of equivalent countries on their websites."
Amendment 435 #
Proposal for a directive – amending act
Article 8 – point 2 a (new)
Article 8 – point 2 a (new)
Directive 2005/60/EC
Article 41 – paragraph 2 – subparagraph 1
Article 41 – paragraph 2 – subparagraph 1
(2a) In Article 41(2), the first subparagraph is replaced by the following: "2. Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof and provided that the [...] measures adopted in accordance with this procedure do not modify the essential provisions of this Directive."
Amendment 436 #
Proposal for a directive – amending act
Article 8 – point 2 m (new)
Article 8 – point 2 m (new)
Directive 2005/60/EC
Article 41 b (new)
Article 41 b (new)
(2m) The following Article is inserted after Article 41a: "Article 41b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 437 #
Proposal for a directive – amending act
Article 9 – point 2 a (new)
Article 9 – point 2 a (new)
Directive 2006/48/EC
Article 17 – point e a (new)
Article 17 – point e a (new)
(2a) In Article 17(1), the following point is added: "(ea) has caused a serious and systematic infringement of Union or national law with regard to the EBA and the competent authorities."
Amendment 438 #
Proposal for a directive – amending act
Article 9 – point 5
Article 9 – point 5
Directive 2006/48/EC
Article 28 – paragraph 4 – first subparagraph
Article 28 – paragraph 4 – first subparagraph
4. In order to ensure uniform application of this Article and establish aconsistent harmonisation and uniform notifapplication procedure by electronic means,of this Article the European Banking Authority shall develop draft technical standards to determine the conditions of application of the information referred to inestablish a uniform notification procedure and specify the information to be notified according to this Article and the process for transmitting this information by secure electronic means. The Authority shall submit those draft technical standards to the Commission by 1 January 2014.
Amendment 439 #
Proposal for a directive – amending act
Article 9 – point 8
Article 9 – point 8
Directive 2006/48/EC
Article 42a – paragraph 1 – fourth subparagraph
Article 42a – paragraph 1 – fourth subparagraph
If, at the end of the two month period, a following receipt of a request under the first subparagraph any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisormpetent authorities of the host member State shall await anythe decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take their final decision in conformity with the Authority's decision. The Authority's decision shall not replace the prudential judgement of the competent authorities of the Member State. The two month period shall be deemed the conciliation period within the meaning of that Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of theat two month period or after a joint decision has been reached.
Amendment 441 #
Proposal for a directive – amending act
Article 9 – point 11
Article 9 – point 11
Directive 2006/48/EC
Article 46 – paragraph 1
Article 46 – paragraph 1
Member States and the European Banking Authority, in accordance with Article 18 of Regulation .../...[EBA], may conclude cooperation agreements, providing for exchanges of information, with the competent authorities of third countries or with authorities or bodies of third countries as defined in Articles 47 and 48(1) only if the information disclosed is subject to guarantees of professional secrecy at least equivalent to those referred to in Article 44(1).
Amendment 442 #
Proposal for a directive – amending act
Article 9 – point 11 a (new)
Article 9 – point 11 a (new)
Directive 2006/48/EC
Article 46 – paragraph 2
Article 46 – paragraph 2
(11a) The second paragraph of Article 46 is replace by the following: "Information exchanged under the first subparagraph shall not be disclosed without the express agreement of the competent authorities which have transmitted it and solely for the purposes for which those authorities gave their agreement."
Amendment 459 #
Proposal for a directive – amending act
Article 9 – point 23 – subparagraph 2
Article 9 – point 23 – subparagraph 2
Directive 2006/48/EC
Article 129 – paragraph 2 – subparagraph 5
Article 129 – paragraph 2 – subparagraph 5
If, at the end of the six month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The six month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the six month period or after a joint decision has been reached.
Amendment 462 #
Proposal for a directive – amending act
Article 9 – point 24 – point b
Article 9 – point 24 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 4
Article 129 – paragraph 3 – subparagraph 4
In the absence of such a joint decision between the competent authorities within four months, a decision on the application of Articles 123 and 124 and Article 136(2) shall be taken on a consolidated basis by the consolidating supervisor after duly considering the risk assessment of subsidiaries performed by relevant competent authorities. If, at the end of the four month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The four month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the four month period or after a joint decision has been reached.
Amendment 465 #
Proposal for a directive – amending act
Article 9 – point 24 – point c
Article 9 – point 24 – point c
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 5
Article 129 – paragraph 3 – subparagraph 5
The decision on the application of Articles 123 and 124 and Article 136(2) shall be taken by the respective competent authorities responsible for supervision of subsidiaries of an EU parent credit institution or an EU parent financial holding company on an individual or sub- consolidated basis after duly considering the views and reservations expressed by the consolidating supervisor. If, at the end of the four month period, the consolidating supervisorany of the competent authorities concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the competent authorities shall defer its decision and await any decision that the European Banking Authority shall take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The four month period shall be deemed the conciliation period within the meaning of that Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the four month period or after a joint decision has been reached.
Amendment 470 #
Proposal for a directive – amending act
Article 9 – point 30 j (new)
Article 9 – point 30 j (new)
Directive 2006/48/EC
Article 151 b (new)
Article 151 b (new)
(30j) The following article shall be inserted after Article 151a: "Article 151b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 471 #
Proposal for a directive – amending act
Article 10 – point 1 c (new)
Article 10 – point 1 c (new)
Directive 2006/49/EC
Article 32 – paragraph 1
Article 32 – paragraph 1
(1c) Article 32(1) is replaced by the following: "1. Following guidelines prepared by the EBA, the competent authorities shall establish procedures to prevent institutions from deliberately avoiding the additional capital requirements that they would otherwise incur, on exposures exceeding the limit laid down in Article 111(1) of Directive 2006/48/EC once those exposures have been maintained for more than 10 days, by means of temporarily transferring the exposures in question to another company, whether within the same group or not, and/or by undertaking artificial transactions to close out the exposure during the10-day period and create a new exposure. The competent authorities shall notify the EBA, the Council and the Commission of those procedures. Institutions shall maintain systems which ensure that any transfer which has the effect referred to in the first subparagraph is immediately reported to the competent authorities."
Amendment 472 #
Proposal for a directive – amending act
Article 10 – point 1 e (new)
Article 10 – point 1 e (new)
Directive 2006/49/EC
Article 38 – paragraph 1
Article 38 – paragraph 1
(1e) Article 38(1) is replaced by the following: "1. The competent authorities of the Member States and the EBA shall cooperate closely in the performance of the duties provided for in this Directive, particularly where investment services are provided on the basis of the freedom to provide services or through the establishment of branches. The competent authorities shall on request supply one another and the EBA with all information likely to facilitate the supervision of the capital adequacy of institutions, in particular the verification of their compliance with the rules laid down in this Directive."
Amendment 473 #
Proposal for a directive – amending act
Article 10 – point 1 n (new)
Article 10 – point 1 n (new)
Directive 2006/49/EC
Article 42 b (new)
Article 42 b (new)
(1n) The following article is inserted after Article 42a: "Article 42b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 474 #
Proposal for a directive – amending act
Article 11 – point 2
Article 11 – point 2
Directive 2009/65/EC
Article 7 – paragraph 6 - first subparagraph
Article 7 – paragraph 6 - first subparagraph
6. In order to ensure consistent harmonisation and uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to further: (a) determine the conditions of application of the requirements for the authorisation of the management company, with the exception of the conditions established in paragraph 1(b) of this Articleinformation to be provided to the competent authority in the application for the authorisation of the management company; (b) develop the information and standard forms, templates and procedures for the notification of the programme of activity foreseen in this Article; and (c) assess the reputation and experience of persons conducting the business of the management company.
Amendment 484 #
Proposal for a directive – amending act
Article 11 – point 20 e (new)
Article 11 – point 20 e (new)
Directive 2009/65/EC
Article 112 b (new)
Article 112 b (new)