19 Amendments of Elisa FERREIRA related to 2015/2106(INI)
Amendment 99 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines the need to take stock of the financial services framework; notes that similar exercises are being undertaken in other jurisdictions, notably in the US; stresses the fact that this stocktaking exercise should not undermine the legislative achievements obtained so far and should not be seen as an exercise leading to deregulation;
Amendment 147 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses the need for consistency in the risk-based approach, including sovereign exposures; supports the work of the BCBS and ESRB in this regard;
Amendment 173 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Reiterates the need to work on a Pan European Pension Product (PEPP), which will attract more retirement savings and foster the supply of long-term capital, whilst contributing to the delivery of adequate, safe and sustainable pensions for the European citizens throughout the EU;
Amendment 194 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for an appropriate division of competences between EU and national level, bearing in mind that national supervisors have more knowledge of local market characteristics; is concerned about the effect of a one-size-fits-all supervisory approach on smaller and primarily nationally active entities within the Single Supervisory Mechanism (SSM)acknowledges the benefits of European supervision in creating a level playing field and breaking the sometimes too close links between national supervisors and the financial entities they supervise; it is crucial to ensure the use of a common framework to guarantee the full implementation of the single market;
Amendment 201 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the achievements in establishing a banking union; stresses that the next step has to be its full implementation, including full capitalisation of national Deposit Guarantee Schemes (DGS) and the Single Resolution Fund (SRF); emphasises the aim ofthe setting up of the third pillar namely a European Deposit Guarantee Schemes (DGS) and the full implementation of the other two pillars, including the Single Resolution Fund (SRF) and the Banking Structural Reform; emphasises the aim of reducing systemic risks through joint action while avoiding moral hazard and ensuring that risk-takers bear the costs when their risks materialise;
Amendment 252 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Recalls that developing a quality securitisation market in the EU requires adequate control mechanisms and supervision at the European level;
Amendment 259 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Underlines the need to streamline the content and frequency of reporting requirements, also by providing entities with one point of contact, in order to avoid any duplication of requirements and reporting channels; calls on the Commission, ESAs and SSM to examine which data are actually needed, to align templates and to provide simplifications and, for SMEs, exemptionin particular, for SMEs;
Amendment 299 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Believes that the ESAs should be involved in the discussions on global regulatory principles within the international standard setting bodies; this would be key to ensure that European positions are properly reflected and precious know-how be taken on board;
Amendment 320 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Calls on the Commission for regular reports on the state of transposition of the legislation agreed, and where applicable, the infringement proceedings brought upon Member States and to report back to the European Parliament;
Amendment 321 #
Motion for a resolution
Paragraph 26 b (new)
Paragraph 26 b (new)
26b. Stresses that ensuring transparency, simplicity, accessibility and fairness across the internal market should be part of the better regulation agenda for consumers;
Amendment 336 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the objectives of the better regulation agenda; underlines the role of REFITsuggests that a stocktaking of financial regulation takes place under the REFIT exercise of the European Commission in achieving an efficient and effective financial services regulation;
Amendment 343 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29a. Underlines that for a coherent development of a Single Rule Book the Commission needs to better consider in impact assessments the existing interactions and overlaps between new proposals and existing legislation;
Amendment 348 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Believes that the ESAs and SSM have a crucial role to play in achieving the objectives of better regulation and supervision; highlights ESAs and SSM role in reducing uncertainty and regulatory arbitrage and in fostering mutually beneficial cooperation among market participants; stresses that the ESAs and SSM, in pursuing this role, have to be adequately funded and staffed; deplores therefore the recent cuts in both the funding and the staff of the agencies;
Amendment 369 #
Motion for a resolution
Paragraph 37
Paragraph 37
37. Reminds the ESAs that technical standards, guidelines and recommendations are bound by the principle of proportionality; calls on the ESAs to adopt a restrictive approach to the extent and number of guidelines, particularly where they are not explicitly empowered in the basic act; notes that such a restrictive approach is also required in view of the ESAs’ resources and the need to prioritise their tasks;
Amendment 396 #
Motion for a resolution
Paragraph 42
Paragraph 42
42. Stresses that the impact of individual legislative measures differs from their cumulative impact; calls on the Commission services, in corpooperation with the ESAs, SSM and ESRB, to conduct a comprehensive quantitative and qualitative assessment every five years of the cumulative impact of the EU financial services regulation at EU and Member State levelupon financial markets and its participants at EU and Member State level, and to report back to the European Parliament;
Amendment 417 #
Motion for a resolution
Paragraph 43 – indent 4
Paragraph 43 – indent 4
– the possibilities to benefits to the real economy, namely on SMEs and consumers,
Amendment 423 #
Motion for a resolution
Paragraph 43 – indent 9
Paragraph 43 – indent 9
– the interdependencies with international standards and the comparison of existing and implementation levels of regulation between the EU and other major jurisdictions, and its effects on the global competitiveness of European businesses;
Amendment 426 #
Motion for a resolution
Paragraph 43 – indent 9 a (new)
Paragraph 43 – indent 9 a (new)
– the capacity of ESAs to fulfil the tasks given to them under the current legislative framework and on the steps needed to improve the framework especially the financing of the ESAs in the near future,
Amendment 430 #
Motion for a resolution
Paragraph 43 a (new)
Paragraph 43 a (new)
43a. Stresses the fact that deregulation should not be an objective of such exercise but to reinforce the coherence and consistency of the existing regulation; additionally the assessment of existing regulatory loopholes needs to be addressed;