13 Amendments of Gianni PITTELLA related to 2007/2287(INI)
Amendment 3 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that not only private clients but also small businesses are less inclined to take up cross-border financial services; underlines the need to ensure that the advantages of the financial single market also benefit small businesses; favours a definition such as that points out that this objective must, however, be achieved without extending the above- mentioned Sector Inquiry on retail bankingo small businesses the actions undertaken for the purpose of harmonising or increasing the level of consumer protection;
Amendment 13 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Emphasises that a single market in financial services for consumers and small businesses can be created only by measures that provide a secure environment both for the demand and the supply side, including as regards the conditions for redress;
Amendment 18 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Supports the Commission in its aim only to pursue initiatives that demonstrably offer citizens tangible benefits, are soundly justified and have been subject to proper impact studies; agrees that, in the case of the single market in financial services for consumers and small businesses, only an increase in cross-border activity can justify legislative measures;
Amendment 25 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that, of the various possible legislative approaches currently available, minimum harmonisation and full harmonisation, are in a state of tension between simplifying cross-border business and maintaining national standards for consumer protec, integration of the retail market may be better pursued through targeted full harmonisation accompanied by the principle of mutual recognition;
Amendment 28 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Recognises that the option of a 28th legal framework, such as the Common Reference Framework, as a possible new approach to European regulation, to enable cross-border market choice to be provided to a uniformly high consumer protection standard; calls on the Commission again to put forward a time- frame for developing a 28th legal framework is not an adequate substitute for the purposes and the effects of targeted full harmonisation in the retail sector; however, calls on the Commission to carry out practical assessments concerning the applicability of the 28th regime in order to ascertain whether the latter may produce positive results in certain particular sectors. The advantages and possible disadvantages relating to the adoption thereof must, however, be assessed for each individual case;
Amendment 42 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Emphasises that effective, on its own, self- regulation of the financial services industry shwould be preferred to any legislative regulation; calls on the financial services industry to work steadfastly towards the aims of the above Green Paper by self- regulation and thus reduce the need for binding legal actsnot be sufficient to enable the aims of the above Green Paper to be pursued;
Amendment 48 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Stresses that, for the creation of a single market in financial services for private clients and small businesses, the establishment of Europe-wide competition and is also assisted by cross-border provision of financial services are a basic precondition; points out that lower prices and an increase in the quality of the services provided are what mainly follow from healthy competition amongst operators;
Amendment 53 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Reminds the Commission that effective competition between financial service providers is secured by having a large number of market participantsoperators and by satisfying other requirements, such as the availability of comprehensive information; draws attention to its resolution on consolidation in the financial services industry, in which it averred that the pluralistic structure of the European banking market, where financial institutions could take on diverse legal forms in accordance with their diverse business aims, was an asset to the European economy;
Amendment 62 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that real competition can arise only in equal competitive conditions; concludes that any legislation must follow the principle of ‘equal risk, equal regulation’; points out, however, that in the financial services sector product design is particularly influenced by the regulatory environment and a ‘one size fits all’ approach would adversely affect product diversity;
Amendment 83 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Emphatically draws attention to the importance of enabling credit institutions and credit data agencies to have non- discriminatory cross-border access to credit data registers; and calls on the Commission to do all it can to facilitate client mobility so that consumers have the option of changing operators, amongst whom healthy competition would thereby be increased;
Amendment 85 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Calls on the Commission to step up its activities in respect of credit agents/brokers in order to ensure that consumers are protected and to prevent dubious sales practices which harm in particular the most vulnerable sections of the population;
Amendment 86 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Stresses the importance of reliable data for the granting of bank loans, which should be made available on the basis of fair, transparent criteria;
Amendment 87 #
Motion for a resolution
Paragraph 18 c (new)
Paragraph 18 c (new)
18c. Stresses the importance of providing consumers with simple, effective schemes for alternative dispute resolution, including by raising awareness of the FIN-NET system and of the various forms of, and schemes for, ADR operating in the various Member States;