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44 Amendments of Inese VAIDERE related to 2023/0379(COD)

Amendment 73 #
Inese VAIDERE
Proposal for a regulation
Recital 4
(4) Pursuant to Article 19d of Regulation (EU) 2016/1011, administrators of significant benchmarks are required to endeavour to provide an EU Climate Transition Benchmark or an EU Paris- aligned Benchmark by 1 January 2022. As this date has elapsed, it is appropriate to delete this provisionin an attempt to establish minimum standards for climate benchmarks.
2024/02/01
Committee: ECON
Amendment 73 #
Inese VAIDERE
Proposal for a regulation
Recital 4
(4) Pursuant to Article 19d of Regulation (EU) 2016/1011, administrators of significant benchmarks are required to endeavour to provide an EU Climate Transition Benchmark or an EU Paris- aligned Benchmark by 1 January 2022. As this date has elapsed, it is appropriate to delete this provisionin an attempt to establish minimum standards for climate benchmarks.
2024/02/01
Committee: ECON
Amendment 76 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 8
(8) However, in exceptional cases, there may be benchmarks with an aggregate use below the threshold laid down in Article 24(1), point (a), of Regulation (EU) 2016/1011 which, due to the specific situation in the market of a Member State, are nevertheless of such importance to that Member State that any lack of reliability would be of comparable impact as that of a benchmark the usage of which exceeds that threshold. For that reason, the competent authority of that Member State should be able to designate such a benchmark, where that benchmark is provided by an EU administrator, as significant on the basis of a set of qualitative criteria. For benchmarks provided by a non-EU administrator, it should be ESMA that, on the request of one or more competent authorities, designates such a benchmark as a significant benchmark.deleted
2024/02/01
Committee: ECON
Amendment 76 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 8
(8) However, in exceptional cases, there may be benchmarks with an aggregate use below the threshold laid down in Article 24(1), point (a), of Regulation (EU) 2016/1011 which, due to the specific situation in the market of a Member State, are nevertheless of such importance to that Member State that any lack of reliability would be of comparable impact as that of a benchmark the usage of which exceeds that threshold. For that reason, the competent authority of that Member State should be able to designate such a benchmark, where that benchmark is provided by an EU administrator, as significant on the basis of a set of qualitative criteria. For benchmarks provided by a non-EU administrator, it should be ESMA that, on the request of one or more competent authorities, designates such a benchmark as a significant benchmark.deleted
2024/02/01
Committee: ECON
Amendment 77 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 9
(9) To ensure the consistency and coordination of national designations of benchmarks as significant benchmarks, competent authorities intending to designate a benchmark as significant should consult ESMA. For the same reason, a competent authority of a Member State that intends to designate as significant a benchmark that is provided by an administrator that is located in another Member State should also consult the competent authority of that other Member State. Where competent authorities disagree which among them should designate and supervise a benchmark, ESMA should settle that disagreement in accordance with Article 19 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council5. __________________ 5 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).deleted
2024/02/01
Committee: ECON
Amendment 77 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 9
(9) To ensure the consistency and coordination of national designations of benchmarks as significant benchmarks, competent authorities intending to designate a benchmark as significant should consult ESMA. For the same reason, a competent authority of a Member State that intends to designate as significant a benchmark that is provided by an administrator that is located in another Member State should also consult the competent authority of that other Member State. Where competent authorities disagree which among them should designate and supervise a benchmark, ESMA should settle that disagreement in accordance with Article 19 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council5. __________________ 5 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).deleted
2024/02/01
Committee: ECON
Amendment 81 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 13
(13) To ensure the timely start of the supervision of significant benchmarks, administrators of benchmarks that have become significant either by reaching the applicable quantitative threshold or by designation, should be required to seek, within 60 working days, authorisation or registration or, in the case of benchmarks provided by an administrator located in a third-country, endorsement or recognition.
2024/02/01
Committee: ECON
Amendment 81 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Recital 13
(13) To ensure the timely start of the supervision of significant benchmarks, administrators of benchmarks that have become significant either by reaching the applicable quantitative threshold or by designation, should be required to seek, within 60 working days, authorisation or registration or, in the case of benchmarks provided by an administrator located in a third-country, endorsement or recognition.
2024/02/01
Committee: ECON
Amendment 93 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 9
Regulation (EU) 2016/1011
Article 19a – paragraph 4 – introductory part
4. Administrators that are not authorised orincluded in the ESMA registered pursuant to Article 346 shall not:
2024/02/01
Committee: ECON
Amendment 93 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 9
Regulation (EU) 2016/1011
Article 19a – paragraph 4 – introductory part
4. Administrators that are not authorised orincluded in the ESMA registered pursuant to Article 346 shall not:
2024/02/01
Committee: ECON
Amendment 102 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 1 – subparagraph 1 – point a
(a) the benchmark is used directly or indirectly within a combination of benchmarks within the Union as a reference for financial instruments or financial contracts or for measuring the performance of investments funds, that have a total average value of at least EUR 560 billion on the basis of all the range of maturities or tenors of the benchmark, where applicable, over a period of six months;
2024/02/01
Committee: ECON
Amendment 102 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 1 – subparagraph 1 – point a
(a) the benchmark is used directly or indirectly within a combination of benchmarks within the Union as a reference for financial instruments or financial contracts or for measuring the performance of investments funds, that have a total average value of at least EUR 560 billion on the basis of all the range of maturities or tenors of the benchmark, where applicable, over a period of six months;
2024/02/01
Committee: ECON
Amendment 103 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 1 – subparagraph 1 – point b
(b) the benchmark has been designated as significant in accordance with the procedure laid down in paragraphs 3, 4 and 5 or the procedure laid down in paragraph 6.deleted
2024/02/01
Committee: ECON
Amendment 103 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 1 – subparagraph 1 – point b
(b) the benchmark has been designated as significant in accordance with the procedure laid down in paragraphs 3, 4 and 5 or the procedure laid down in paragraph 6.deleted
2024/02/01
Committee: ECON
Amendment 105 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3
3. A competent authority may, having consulted ESMA in accordance with paragraph 4 and taking into account its advice, designate a benchmark provided by an administrator located in the Union that does not meet the condition laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions: (a) the benchmark has no, or very few, appropriate market-led substitutes; (b) in the event that the benchmark ceases to be provided, or is provided on the basis of input data no longer fully representative of the underlying market or economic reality or on the basis of unreliable input data, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in its Member State; (c) the benchmark has not been designated by a competent authority of another Member State. Where a competent authority concludes that a benchmark fulfils the criteria set out in the first subparagraph, the competent authority shall prepare a draft decision to designate the benchmark as significant and notify that draft decision to the administrator concerned and to the competent authority of the administrator’s home Member State where relevant. The competent authority concerned shall also consult ESMA on the draft decision. The administrators concerned and the competent authority of the administrator’s home Member State shall have 15 working days from the date of notification of the draft decision of the designating competent authority concerned to provide observations and comments in writing. The designating competent authority concerned shall inform ESMA of the observations and comments received and shall duly consider those observations and comments before adopting a final decision. The designating competent authority shall notify ESMA of its decision, and publish the decision, including the reasons for which it was made and the consequences of this designation, on its website without undue delay.’;deleted
2024/02/01
Committee: ECON
Amendment 105 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3
3. A competent authority may, having consulted ESMA in accordance with paragraph 4 and taking into account its advice, designate a benchmark provided by an administrator located in the Union that does not meet the condition laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions: (a) the benchmark has no, or very few, appropriate market-led substitutes; (b) in the event that the benchmark ceases to be provided, or is provided on the basis of input data no longer fully representative of the underlying market or economic reality or on the basis of unreliable input data, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in its Member State; (c) the benchmark has not been designated by a competent authority of another Member State. Where a competent authority concludes that a benchmark fulfils the criteria set out in the first subparagraph, the competent authority shall prepare a draft decision to designate the benchmark as significant and notify that draft decision to the administrator concerned and to the competent authority of the administrator’s home Member State where relevant. The competent authority concerned shall also consult ESMA on the draft decision. The administrators concerned and the competent authority of the administrator’s home Member State shall have 15 working days from the date of notification of the draft decision of the designating competent authority concerned to provide observations and comments in writing. The designating competent authority concerned shall inform ESMA of the observations and comments received and shall duly consider those observations and comments before adopting a final decision. The designating competent authority shall notify ESMA of its decision, and publish the decision, including the reasons for which it was made and the consequences of this designation, on its website without undue delay.’;deleted
2024/02/01
Committee: ECON
Amendment 106 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3 – subparagraph 1 – point b
(b) in the event that the benchmark ceases to be provided, or is provided on the basis of input data no longer fully representative of the underlying market or economic reality or on the basis of unreliable input data, there would be significant and adverse impacts on market integrity, financial stability in the Union, consumers, the real economy, or the financing of households and businesses in its Member Statethe Union;
2024/02/01
Committee: ECON
Amendment 106 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3 – subparagraph 1 – point b
(b) in the event that the benchmark ceases to be provided, or is provided on the basis of input data no longer fully representative of the underlying market or economic reality or on the basis of unreliable input data, there would be significant and adverse impacts on market integrity, financial stability in the Union, consumers, the real economy, or the financing of households and businesses in its Member Statethe Union;
2024/02/01
Committee: ECON
Amendment 107 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3 – subparagraph 3
The administrators concerned and the competent authority of the administrator’s home Member State shall have 1530 working days from the date of notification of the draft decision of the designating competent authority concerned to provide observations and comments in writing. The designating competent authority concerned shall inform ESMA of the observations and comments received and shall duly consider those observations and comments before adopting a final decision.
2024/02/01
Committee: ECON
Amendment 107 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 3 – subparagraph 3
The administrators concerned and the competent authority of the administrator’s home Member State shall have 1530 working days from the date of notification of the draft decision of the designating competent authority concerned to provide observations and comments in writing. The designating competent authority concerned shall inform ESMA of the observations and comments received and shall duly consider those observations and comments before adopting a final decision.
2024/02/01
Committee: ECON
Amendment 108 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 4
4. When consulted by a competent authority on the intended designation of a benchmark as significant in accordance with paragraph 3, first subparagraph, ESMA shall, within 3 months, issue an advice that takes into account the following factors, in light of the specific characteristics of the benchmark concerned: (a) whether the consulting competent authority has sufficiently substantiated its assessment that the conditions referred to in paragraph 3, first subparagraph are met; (b) whether, in the event that the benchmark ceases to be provided, or is provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in in Member States other than the Member State of the consulting competent authority. For the purposes of point (b), ESMA shall take due account, where relevant, of the information provided by the consulting authority pursuant to the third subparagraph of paragraph 3.deleted
2024/02/01
Committee: ECON
Amendment 108 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 4
4. When consulted by a competent authority on the intended designation of a benchmark as significant in accordance with paragraph 3, first subparagraph, ESMA shall, within 3 months, issue an advice that takes into account the following factors, in light of the specific characteristics of the benchmark concerned: (a) whether the consulting competent authority has sufficiently substantiated its assessment that the conditions referred to in paragraph 3, first subparagraph are met; (b) whether, in the event that the benchmark ceases to be provided, or is provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in in Member States other than the Member State of the consulting competent authority. For the purposes of point (b), ESMA shall take due account, where relevant, of the information provided by the consulting authority pursuant to the third subparagraph of paragraph 3.deleted
2024/02/01
Committee: ECON
Amendment 109 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 4 – subparagraph 1 – point b
(b) whether, in the event that the benchmark ceases to be provided, or is provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in in Member Statesthe Union other than the Member State of the consulting competent authority.
2024/02/01
Committee: ECON
Amendment 109 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 4 – subparagraph 1 – point b
(b) whether, in the event that the benchmark ceases to be provided, or is provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in in Member Statesthe Union other than the Member State of the consulting competent authority.
2024/02/01
Committee: ECON
Amendment 110 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5
5. Where ESMA finds that a benchmark meets the conditions under paragraph 3, 1st paragraph, points (a) to (c), in more than one Member State, it shall inform the competent authorities of the Member States concerned thereof. They shall agree which among them designates the benchmark concerned as significant benchmark. Where competent authorities disagree on the matter referred to in the first subparagraph, they shall refer the matter to ESMA, ESMA shall settle that disagreement in accordance with Article 19 of Regulation (EU) No 1095/2010.deleted
2024/02/01
Committee: ECON
Amendment 110 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5
5. Where ESMA finds that a benchmark meets the conditions under paragraph 3, 1st paragraph, points (a) to (c), in more than one Member State, it shall inform the competent authorities of the Member States concerned thereof. They shall agree which among them designates the benchmark concerned as significant benchmark. Where competent authorities disagree on the matter referred to in the first subparagraph, they shall refer the matter to ESMA, ESMA shall settle that disagreement in accordance with Article 19 of Regulation (EU) No 1095/2010.deleted
2024/02/01
Committee: ECON
Amendment 111 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5 – subparagraph 1
5. Where ESMA finds that a benchmark meets the conditions under paragraph 3, 1st paragraph, points (a) to (c), in more than one Member Statethe Union, it shall inform the competent authorities of the Member States concerned thereof. They shall agree which among them designates the benchmark concerned as significant benchmark.
2024/02/01
Committee: ECON
Amendment 111 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5 – subparagraph 1
5. Where ESMA finds that a benchmark meets the conditions under paragraph 3, 1st paragraph, points (a) to (c), in more than one Member Statethe Union, it shall inform the competent authorities of the Member States concerned thereof. They shall agree which among them designates the benchmark concerned as significant benchmark.
2024/02/01
Committee: ECON
Amendment 112 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5 – subparagraph 2
Where competent authorities disagree on the matter referred to in the first subparagraph, they shall refer the matter to ESMA, ESMA shall settle that disagreement between competent authorities in cross-border situations in accordance with Article 19 of Regulation (EU) No 1095/2010.
2024/02/01
Committee: ECON
Amendment 112 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 5 – subparagraph 2
Where competent authorities disagree on the matter referred to in the first subparagraph, they shall refer the matter to ESMA, ESMA shall settle that disagreement between competent authorities in cross-border situations in accordance with Article 19 of Regulation (EU) No 1095/2010.
2024/02/01
Committee: ECON
Amendment 113 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6
6. ESMA may, upon the request of a competent authority, designate a benchmark provided by an administrator located in a third country that does not meet the threshold laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions: (a) the benchmark has no, or very few, appropriate market-led substitutes; (b) in the event that the benchmark would cease to be provided, or would be provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in one or more Member States. ESMA shall, prior to the designation decision and as soon as possible, inform the administrator of the benchmark of its intention, and invite that administrator to provide ESMA within 15 working days with a reasoned statement containing any relevant information for the purposes of the assessment related to the designation of the benchmark as significant. Where applicable, ESMA shall invite, as soon as possible, the competent authority of the jurisdiction where the administrator is located to provide any relevant information for the purposes of the assessment related to the designation of the benchmark. ESMA shall motivate any designation decision, taking into account whether there is sufficient evidence that the conditions referred to in the first subparagraph of this paragraph are met, in light of the specific characteristics of the benchmark concerned. ESMA shall publish its reasoned decision on its website and shall notify the requesting competent authority or authorities without undue delay.deleted
2024/02/01
Committee: ECON
Amendment 113 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6
6. ESMA may, upon the request of a competent authority, designate a benchmark provided by an administrator located in a third country that does not meet the threshold laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions: (a) the benchmark has no, or very few, appropriate market-led substitutes; (b) in the event that the benchmark would cease to be provided, or would be provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy, or the financing of households and businesses in one or more Member States. ESMA shall, prior to the designation decision and as soon as possible, inform the administrator of the benchmark of its intention, and invite that administrator to provide ESMA within 15 working days with a reasoned statement containing any relevant information for the purposes of the assessment related to the designation of the benchmark as significant. Where applicable, ESMA shall invite, as soon as possible, the competent authority of the jurisdiction where the administrator is located to provide any relevant information for the purposes of the assessment related to the designation of the benchmark. ESMA shall motivate any designation decision, taking into account whether there is sufficient evidence that the conditions referred to in the first subparagraph of this paragraph are met, in light of the specific characteristics of the benchmark concerned. ESMA shall publish its reasoned decision on its website and shall notify the requesting competent authority or authorities without undue delay.deleted
2024/02/01
Committee: ECON
Amendment 114 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6 – subparagraph 1– introductory part
6. ESMA may, only upon the request of a competent authority, designate a benchmark provided by an administrator located in a third country that does not meet the threshold laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions:
2024/02/01
Committee: ECON
Amendment 114 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6 – subparagraph 1– introductory part
6. ESMA may, only upon the request of a competent authority, designate a benchmark provided by an administrator located in a third country that does not meet the threshold laid down in paragraph 1, point (a), as significant where that benchmark fulfils all of the following conditions:
2024/02/01
Committee: ECON
Amendment 115 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6 – subparagraph 1 – point b
(b) in the event that the benchmark would cease to be provided, or would be provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability in the Union, consumers, the real economy, or the financing of households and businesses in one or more Member Statesthe Union.
2024/02/01
Committee: ECON
Amendment 115 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6 – subparagraph 1 – point b
(b) in the event that the benchmark would cease to be provided, or would be provided on the basis of input data that are no longer fully representative of the underlying market or economic reality or that are unreliable, there would be significant and adverse impacts on market integrity, financial stability in the Union, consumers, the real economy, or the financing of households and businesses in one or more Member Statesthe Union.
2024/02/01
Committee: ECON
Amendment 117 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 7
7. The Commission shall be empowered to adopt delegated acts in accordance with Article 49 to further specify the calculation methodESMA shall develop draft regulatory technical standards to specify: (i) the calculation method, including potential data sources, to be used to determine the threshold referred to in paragraph 1, point (a) of this Article in the light of market, pr; (ii) the criteria to assess when a benchmark exceeds the threshold referred to in Article and regulatory developments24(1), point (a), in one Member State or across the Union; ESMA shall submit those draft regulatory technical standards to the Commission by [12 months after the entry into force of this Regulation]. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first sub-paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
2024/02/01
Committee: ECON
Amendment 117 #
Markus FERBER, Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 7
7. The Commission shall be empowered to adopt delegated acts in accordance with Article 49 to further specify the calculation methodESMA shall develop draft regulatory technical standards to specify: (i) the calculation method, including potential data sources, to be used to determine the threshold referred to in paragraph 1, point (a) of this Article in the light of market, pr; (ii) the criteria to assess when a benchmark exceeds the threshold referred to in Article and regulatory developments24(1), point (a), in one Member State or across the Union; ESMA shall submit those draft regulatory technical standards to the Commission by [12 months after the entry into force of this Regulation]. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first sub-paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
2024/02/01
Committee: ECON
Amendment 118 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) 2016/1011
Article 24a – paragraph 2
(2) Within 60 working days following a designation referred to in Article 24(3), the administrator of the benchmark concerned, unless that administrator is already authorised or registered by a national competent authority, shall seek authorisation or registration with the designating competent authority in accordance with Article 34.
2024/02/01
Committee: ECON
Amendment 118 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) 2016/1011
Article 24a – paragraph 2
(2) Within 60 working days following a designation referred to in Article 24(3), the administrator of the benchmark concerned, unless that administrator is already authorised or registered by a national competent authority, shall seek authorisation or registration with the designating competent authority in accordance with Article 34.
2024/02/01
Committee: ECON
Amendment 119 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) 2016/1011
Article 24a – paragraph 3 – point b
(b) endorsement pursuant to the procedure set out in Article 33 The third country benchmark administrator shall select the endorsing entity in the Union .
2024/02/01
Committee: ECON
Amendment 119 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) 2016/1011
Article 24a – paragraph 3 – point b
(b) endorsement pursuant to the procedure set out in Article 33 The third country benchmark administrator shall select the endorsing entity in the Union .
2024/02/01
Committee: ECON
Amendment 134 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 21
Regulation (EU) 2016/1011
Article 51 – paragraph 4c
4c. Competent authorities and ESMA shall ensure that benchmark administrators that were authorised,ould no longer be registered, endorsed or recognised as a result of the entry of force of [this amending regulation] on [PO please insert the date = date of application of this amending Regulation] can benefit from a simplified procedure where they apply for authorisation registration, recognition, or endorsement pursuant to Article 24a(1), (2), or (3), as applicable, by … [PO please insert the date = date of application of this amending Regulation + two years];
2024/02/01
Committee: ECON
Amendment 134 #
Inese VAIDERE
Proposal for a regulation
Article 1 – paragraph 1 – point 21
Regulation (EU) 2016/1011
Article 51 – paragraph 4c
4c. Competent authorities and ESMA shall ensure that benchmark administrators that were authorised,ould no longer be registered, endorsed or recognised as a result of the entry of force of [this amending regulation] on [PO please insert the date = date of application of this amending Regulation] can benefit from a simplified procedure where they apply for authorisation registration, recognition, or endorsement pursuant to Article 24a(1), (2), or (3), as applicable, by … [PO please insert the date = date of application of this amending Regulation + two years];
2024/02/01
Committee: ECON
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