Activities of Dimitrios PAPADIMOULIS related to 2021/0341(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2013/36/EU as regards supervisory powers, sanctions, third-country branches, and environmental, social and governance risks, and amending Directive 2014/59/EU
Amendments (8)
Amendment 104 #
Proposal for a directive
Recital 20
Recital 20
(20) Where the legal system of the Member State does not allow the administrative penalties provided for in this Directive, the rules on administrative penalties mayshould be applied in such a manner that the penalty is initiated by the competent authority and imposed by judicial authorities. Therefore, it is necessary that those Member States fully ensure that the application of the rules and penalties has an effect equivalent to the administrative penalties imposed by the competent authorities. When imposing such penalties, judicial authorities should take into account the recommendation by the competent authority initiating the penalty. The penalties imposed should be effective, proportionate and dissuasive.
Amendment 108 #
Proposal for a directive
Recital 32
Recital 32
(32) The unprecedented scale of transition towards a sustainable, climate- neutral and circular economy will have considerable impacts on the financial system. In 2018, the Network of Central Banks and Supervisors for Greening the Financial System50 acknowledged that climate-related risks are a source of financial risk. The Commission’s Renewed Sustainable Finance Strategy51 emphasises that environmental, social and governance (ESG) risks, and risks steaming from the physical impact of climate change, biodiversity loss and the broader environmental degradation of ecosystems in particular, pose an unprecedented challenge to our economies and to the stability of the financial system. Those risks, which should be taken into account equally, present specificities such as their forward-looking nature and their distinctive impacts over short, medium and long-term time horizons. __________________ 50 Launched at the Paris One Planet Summit on 12 December 2017, is a group of Central Banks and Supervisors willing, on a voluntary basis, to share best practices and contribute to the development of environment and climate risk management in the financial sector and to mobilise mainstream finance to support the transition toward a sustainable economy. 51 COM(2021) 390 final, 06.07.2021.
Amendment 156 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/36/EU
Article 4 – paragraph 4 – subparagraph 4
Article 4 – paragraph 4 – subparagraph 4
Amendment 279 #
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48i – paragraph 1
Article 48i – paragraph 1
1. Member States shall require third country branches to maintain a registry book enabling those branches to track and keep a comprehensive and precise record of all the assets and liabilities associated with the activities of the third country branch in the Member State and to manage those assets and liabilities autonomously within the branch. The registry book shall provide all necessary and sufficient information on the risks generated by the third country branch and on how they are managed.
Amendment 341 #
Proposal for a directive
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Directive 2013/36/EU
Article 76 – paragraph 2 – subparagraph 2
Article 76 – paragraph 2 – subparagraph 2
Member States shall ensure that the management body develops specific plans and, quantifiable targets and clearly defined procedures to monitor and address the risks arising in the short, medium and long- term from the misalignment of the business model and strategy of the institutions, with the relevant Union policy objectives or broader transition trends towards a sustainable economy in relation to environmental, social and governance factors and take all necessary measures to prevent these risks to arise in the future.;
Amendment 423 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 2
Article 91 a – paragraph 2 – subparagraph 2
However, where it is strictly necessary to replace a member of the management body immediately, the entities mayshould assess the suitability of such replacement members afterbefore they have taken up their positions. The entities shall be able to duly justify such immediate replacement.
Amendment 449 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 4
Article 91 b – paragraph 4
4. Competent authorities that request from the entities additional information or documentation, including interviews or hearings, may extend the assessment period for a maximum of 40 working days. However, the assessment period shall not exceed 120 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation strictly within 10 working days as of the date of the written acknowledgement of the request from competent authorities. Failure by the entities to provide the requested information within that deadline shall result in the procedure being closed.
Amendment 495 #
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 d – paragraph 4
Article 91 d – paragraph 4
4. Competent authorities that request from the entities referred to paragraph 1 additional information or documentation, including interviews or hearings, may extend the assessment period for maximum 40 working days. However, the assessment period shall not exceed 120 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities referred to paragraph 1 shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation strictly within 10 working days as of the date of the written acknowledgement of the request from competent authorities. Failure by the entities to provide the requested information within that deadline shall result in the procedure being closed.