11 Amendments of Othmar KARAS related to 2010/2303(INI)
Amendment 3 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Recognises that the financial crisis has revealed the lack of effectiveness of existing corporate governance principles based on a "comply or explain" approach; believes that practicable, legally binding corporate governance provisions are needed;
Amendment 9 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recognises that the area of corporate governance is constantly evolving and is therefore ill-suited to a prescriptive approach and that a flexible ‘comply or explain’ approach in the form of codes of best practice is more appropriate; believes that ‘comply or explain’ is proportionate and can be applied across a wide range of financial institutions operating in various sectors and markets, but that it must be complemented by regular external evaluatfinancial crisis revealed the lack of effectiveness of existing corporate governance principles based on a 'comply or explain' approach; believes that practicable, legally binding corporate governance provisions and appropriate regulatory oversightre needed;
Amendment 13 #
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that a well-governed company should be accountable and transparent to its shareholders and stakeholders; reaffirms that directors of financial institutions have to take account of their institution's as well as of consumers` and employees` long- term interests when taking decisions;
Amendment 45 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on national supervisorEuropean Supervisory Authorities to develop objective criteria for a ‘fit and proper person’ test to assess the suitability of individuals to be added tocapital market oriented and internationally operating financial institutions objective criteria for an ‘approvedfit and proper persons’ list for supervised functions; supervisors must perform their assessments and approvals procedure in a timely and efficient mannertest to assess the suitability of individuals;
Amendment 56 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for regular, formal external assessments to be carried out of the board and its performance, on the basis of objective criteria according to international standards to be approved by the relevant national supervisor, and for summaries of these assessments to be included in annual reports for the benefit of investors, shareholders and national supervisors;
Amendment 70 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that there should be a basic assumption that no person should serve on more thana legally binding limitation of mandates is one complementary measure to increase the efficiency of three boards of directors of financial institution; within different banking groups;
Amendment 92 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that the issue of remuneration in financial institutions has been dealt with in CRD III; calls upon the Commission to publish an evaluation report in 2014;
Amendment 123 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Encourages institutional and individual shareholders to take a more active role in holding the board and its strategy to account in an appropriate way;
Amendment 125 #
Motion for a resolution
Paragraph 27
Paragraph 27
Amendment 132 #
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 139 #
Motion for a resolution
Paragraph 29
Paragraph 29