Activities of Gianni PITTELLA related to 2012/0242(CNS)
Shadow reports (1)
REPORT on the proposal for a Council regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions PDF (524 KB) DOC (551 KB)
Amendments (21)
Amendment 427 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 a (new)
Article 2 – paragraph 1 – point 6 a (new)
(6a) "Single Supervisory Mechanism (SSM)" means a European federal system of financial supervision composed by the European Central Bank and national competent authorities.
Amendment 448 #
Proposal for a regulation
Article 4 – title
Article 4 – title
Tasks conferred on the ECBSSM
Amendment 449 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The ECBSSM shall, in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:, with a sharing of tasks between the ECB and national competent authorities on the basis of Article 5 and with the ECB having ultimate decision powers.
Amendment 488 #
Proposal for a regulation
Article 4 – paragraph 1 – point i
Article 4 – paragraph 1 – point i
(i) To carry out supervision on a consolidated basis over credit institutions' parents established in one of the participating Member States, including over financial holding companies and mixed financial holding companies, and to participate in supervision on a consolidated basis, including in colleges of supervisors, in relation to parents not established in one of the participating Member State; national competent authorities will participate in colleges of supervisors under the lead of the ECB;
Amendment 539 #
Proposal for a regulation
Article 5 – title
Article 5 – title
Amendment 547 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. The ECB shall carry out its tasks within a sthe Single sSupervisory mMechanism composed of the ECB and national competent authorities(SSM).
Amendment 561 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. National competent authorities shall assist the ECB on its request withcooperate with the ECB within the SSM concerning the preparation and implementation of any acts relating to the tasks referred to in Article 4.
Amendment 571 #
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The ECBSSM shall organise the practical modalities of implementation of paragraph 2 by the national supervisory authorities in discharging its tasks. It. The SSM shall clearly define the framework and conditions under which the ECB and national competent authorities shall carry out those activities. supervisory activities, based on the systemic importance of credit institutions and on the nature of supervisory tasks, both to be defined by the supervisory board established under Article 19.
Amendment 585 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
Amendment 762 #
CHAPTER IIIa BOARD OF APPEAL WITHIN THE ECB Article 15 a Composition and operation 1. The Board of Appeal shall be composed of six members and six alternates who shall be individuals of a high repute with a proven record of relevant knowledge and professional experience, including supervisory experience, to a sufficiently high level in the fields of banking or other financial services, excluding current staff of the ECB, or other national or Union institutions and authorities involved in the activities of the SSM. The Board of Appeal shall have sufficient legal expertise to provide expert legal advice on the legality of the ECB's exercise of its powers. The Board of Appeal shall designate its President. 2. The members of the Board of Appeal shall be appointed by the Supervisory Board of the ECB from a short-list proposed by the Commission, following a public call for expressions of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors of the EBA. 3. The term of office of the members of the Board of Appeal shall be 5 years. That term may be extended once. 4. A member of the Board of Appeal shall not be removed during his term of office, unless he has been found guilty of serious misconduct and the Supervisory Board takes a decision to remove the member. 5. The decisions of the Board of Appeal shall be adopted on the basis of a majority of at least four of its six members. 6. The Board of Appeal shall be convened by its President when necessary. 7. The ECB shall ensure adequate operational and secretarial support for the Board of Appeal.
Amendment 766 #
Proposal for a regulation
Article 15 b (new)
Article 15 b (new)
Amendment 767 #
Proposal for a regulation
Article 15 c (new)
Article 15 c (new)
Article 15c Appeals 1. Any natural or legal person, including competent authorities, may appeal against a decision of the ECB referred to in Articles 9, 10, 11, 13 and 15 and any other decision taken by the ECB in accordance with the Union acts referred to in Article 4 which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person. 2. The appeal, together with a statement of grounds, shall be filed in writing at the ECB within 2 months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day on which the ECB published its decision. The Board of Appeal shall decide upon the appeal within 2 months after the appeal has been lodged. 3. An appeal lodged pursuant to paragraph 1 shall not have suspensive effect. However, the Board of Appeal may, if it considers that circumstances so require, suspend the application of the contested decision. 4. If the appeal is admissible, the Board of Appeal shall examine whether it is well- founded. It shall invite the parties to the appeal proceedings to file observations on its own notifications or on communications from the other parties to the appeal proceedings, within specified time limits. Parties to the appeal proceedings shall be entitled to make oral representations. 5. The Board of Appeal may confirm the decision taken by the competent body of the ECB, or remit the case to the competent body of the ECB. That body shall be bound by the decision of the Board of Appeal and that body shall adopt an amended decision regarding the case concerned. 6. The Board of Appeal shall adopt and make public its rules of procedure. 7. The decisions taken by the Board of Appeal shall be reasoned and shall be made public.
Amendment 768 #
Proposal for a regulation
Article 15 d (new)
Article 15 d (new)
Article 15d Actions before the Court of Justice of the European Union 1. Proceedings may be brought before the Court of Justice of the European Union, in accordance with Article 263 TFEU, contesting a decision taken by the Board of Appeal or, in cases where there is no right of appeal before the Board of Appeal, by the ECB within the SSM. 2. Member States and the Union institutions, as well as any natural or legal person, may institute proceedings before the Court of Justice of the European Union against decisions of the ECB, in accordance with Article 263 TFEU. 3. In the event that the ECB within the SSM has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall be required to take the necessary measures to comply with the judgment of the Court of Justice of the European Union.
Amendment 777 #
Proposal for a regulation
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
2a. The ECB shall allow EU citizens to monitor the independence of policy- making and supervisory functions from private interests by participating in the inter-institutional Transparency Register, together with the European Parliament and Commission.
Amendment 805 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB after approval by the European Parliament and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter ‘supervisory board’).
Amendment 816 #
Proposal for a regulation
Article 19 – paragraph 1 a (new)
Article 19 – paragraph 1 a (new)
1 a. The Executive Board of the ECB shall submit to the European Parliament a short list of candidates to the Supervisory Council composed of an equal number of men and women.
Amendment 823 #
Proposal for a regulation
Article 19 – paragraph 2
Article 19 – paragraph 2
2. In addition, the supervisory board shall include a Chair elected by the members of the Governing Council from the members, with the exception of the President, of the Executive Board, and a Vice-Chair elected by and from the members of the Governing Council of the ECB. The European Parliament shall approve the election of the Chair and the Vice-Chair.
Amendment 831 #
Proposal for a regulation
Article 19 – paragraph 2 a (new)
Article 19 – paragraph 2 a (new)
2a. Gender balance shall be taken into consideration for the election of the Chair and the Vice-Chair.
Amendment 929 #
Proposal for a regulation
Article 25 – paragraph 2 a (new)
Article 25 – paragraph 2 a (new)
2a. The ECB shall create a standing ethics committee to assess possible conflicts of interest resulting from post- office employment of ECB staff members engaged in supervisory activities. The committee will be responsible for elaborating comprehensive and formal procedures for assessment. The results of such assessments shall be publicly disclosed.
Amendment 930 #
Proposal for a regulation
Article 25 – paragraph 2 b (new)
Article 25 – paragraph 2 b (new)
2b. Former ECB staff members who have been engaged in supervisory activities, and who intend to engage in an occupation during the two years after they have ceased to hold office, shall inform the ethics committee in good time. The committee shall make a decision by one month since receiving the information on the compatibility of the employment offer with the need to ensure the integrity and independence of staff. Former ECB staff members can engage in the occupation only after approval of the ethics committee.
Amendment 931 #
Proposal for a regulation
Article 25 – paragraph 2 c (new)
Article 25 – paragraph 2 c (new)
2c. Members of the supervisory board shall be prohibited from taking paid work in private sector institutions for which the ECB has supervisory responsibility during the two years after they have ceased to hold office.