7 Amendments of Sharon BOWLES related to 2011/0295(COD)
Amendment 165 #
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) in relation to derivatives on commodities, information of a precise nature, which has not been made public, relating, directly or indirectly, to one or more such derivatives or to the related spot commodity contract, and which, if it were made public, would be likely to have a significant effect on the prices of such derivatives or related spot commodity contracts; notably informationand which is required to be disclosed in accordance with legal or regulatory provisions at the Union or national level, market rules, contracts or customs, on the relevant commodity derivatives or spot markets.
Amendment 175 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. For the purposes of asupplyementing paragraph 1 (a) to (d), information which, if it were made public, would be reasonably likely to have a significant effect on the market prices of the relevant financial instruments, the related spot commodity contracts, or the auctioned products based on the emission allowances, shall mean information a reasonable investor with relevant market knowledge and experience who regularly deals on the market and in the financial instrument, physical commodity contracts, or the auctioned products based on the emission allowances, in a professional capacity, would be likely to use as a material part of the basis of his investment decisions, including whether to acquire or dispose of that financial instrument, spot commodity contract, or auction product, or the quantity of which to acquire or dispose, and/or the price at which to do so.
Amendment 179 #
Proposal for a regulation
Article 6 – paragraph 3 a (new)
Article 6 – paragraph 3 a (new)
3 a. In order to ensure consistent application of Article 6.1(e), ESMA shall issue guidelines providing assistance in determining appropriate standards of behaviour in relation to relevant markets for the purposes of providing consistent application of these provisions to diverse market activities.
Amendment 185 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. For the purposes of this Regulation, attempting to engage in insider dealing arises where a person possesses inside information and uses that information to attempts to acquire or dispose of, for his own account or for the account of a third party, either directly or indirectly, financial instruments to which that information relates. The attempt to cancel or amend an order concerning a financial instrument to which the information relates on the basis of that inside information where the order was placed before the person concerned possessed the inside information, shall also be considered an attempt to engage in insider dealing.
Amendment 189 #
Proposal for a regulation
Article 7 – paragraph 5 – subparagraph 1 – point c
Article 7 – paragraph 5 – subparagraph 1 – point c
(c) his having access to the information through the exercise of duties resulting from an employment or profession, provided that he knew or ought to have known it is inside information;
Amendment 200 #
Proposal for a regulation
Article 7 – paragraph 8
Article 7 – paragraph 8
8. Paragraph 1 shall not apply to a person, who possesses inside information where that person: (a) conducts transactions conducted in the discharge of an obligation that has become due to acquire or dispose of financial instruments where that obligation results from an agreement concluded, or is to satisfy a legal or regulatory obligation that arose, before the person concerned possessed inside information; (b) conducts procedural or contractual transactions in commodities or commodity derivatives entered into by a person for the purpose of reducing risks directly related to such persons or a group company's commercial or treasury financing activity; to produce, transport or supply a commodity; or to cover loss resulting from an unforeseen change in supply or demand of such commodity where to do so would result in such persons or a group company not being able to meet immediate contractual obligations.
Amendment 390 #
Proposal for a regulation
Article 29 – paragraph 1 a (new)
Article 29 – paragraph 1 a (new)
1 a. Member States shall require all financial institutions and trading venues to have anti-fraud strategies.