11 Amendments of Anne E. JENSEN related to 2013/0314(COD)
Amendment 180 #
Proposal for a regulation
Recital 30 a (new)
Recital 30 a (new)
(30 a) Benchmarks mainly used within smaller currency areas and with a limited number of contributors, are to be considered as non-critical. These benchmarks are to be supervised by the local authorities, using the IOSCO principles as the common reference. The competent authority will, after consulting ESMA, decide whether a benchmark is to be considered as critical or non-critical.
Amendment 267 #
Proposal for a regulation
Article 3 – paragraph 1 – point 21
Article 3 – paragraph 1 – point 21
(21) ‘critical benchmark’ means a benchmark,: a) the majority of contributors to which are supervised entities and that reference financial instruments having a notional value of at least 500 billion euro;; (b) that does not include benchmarks compiled from regulated data as defined in point (11); and (c) that reference financial instruments admitted to trading or traded on at least one Union trading venue, or other financial assets as defined in international accounting standard IAS 32, having a notional cumulative amount of at least 500 billion euro on such Union trading venues; (d) that is widely used on the international markets and (e) for which there is no reasonable substitute so that cessation of the benchmark would have a significant adverse impact on financial stability, the orderly functioning of the markets, consumers or the real economy.
Amendment 315 #
Proposal for a regulation
Article 8 – paragraph 2 – introductory part
Article 8 – paragraph 2 – introductory part
2. The administrator shall monitor the input data and contributorensure that the contributors have adequate systems and effective controls in order to identify breaches of the [Market Abuse Regulation] and systems to notify the relevant competent authority of any conduct that may involve manipulation or attempted manipulation of the benchmark and notify the relevant competent authority in accordance with Article 11(2) of the [Market Abuse Regulation] and provide all relevant information where it suspects that, in relation to the benchmark, there has been:
Amendment 329 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The code of conduct shall be signed by the administrator and the contributors and shall be legally binding on all parties to ipublish a confirmation of compliance with the Code of conduct.
Amendment 355 #
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. In addition to the requirements of the Title II, the specific requirements set out in Aannex II shall apply to critical inter-bank interest rate benchmarks. When it comes to non-critical benchmarks in non-eurozone Member States the requirements set out in Annex II shall apply in accordance with decisions by the national competent authority.
Amendment 417 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
Amendment 502 #
Proposal for a regulation
Article 24 – paragraph 1 – point d a (new)
Article 24 – paragraph 1 – point d a (new)
(da) has transferred the functions as administrator of its benchmarks to another administrator who is properly authorised.
Amendment 582 #
Proposal for a regulation
Article 41 – paragraph 2
Article 41 – paragraph 2
It shall apply from [12 months after entry into force]the publication of the delegated acts issued by the Commission and the technical standards issued by ESMA.
Amendment 588 #
Proposal for a regulation
Annex 1 – section 1 – part I – point 7
Annex 1 – section 1 – part I – point 7
7. Where Administrators receive input data from employees of a front office function, the Administrator shall, where available, obtain data from other sources that can corroborate that input data.
Amendment 621 #
Proposal for a regulation
Annex 1 – section 3 – part I – point 1 – point c a (new)
Annex 1 – section 3 – part I – point 1 – point c a (new)
(ca) a process for controlling the existence of systems for identification of potential breaches of the [Market Abuse Regulation or Directive] and a whistleblowing procedure.
Amendment 642 #
Proposal for a regulation
Annex 2 – point 16 – point d
Annex 2 – point 16 – point d
(d) effective conflicts of interest management procedures and communication controls, both within contributors and between contributors and other third parties, to avoid any inappropriate external influence over those responsible for submitting rates. Submitters shall work in locations physically separated from interest rate derivatives traders;