Activities of Neena GILL
Plenary speeches (17)
Burundi, notably the freedom of expression
The European Green Deal (RC-B9-0040/2020, B9-0040/2020, B9-0041/2020, B9-0042/2020, B9-0043/2020, B9-0044/2020, B9-0045/2020, B9-0046/2020)
Implementing and monitoring the provisions on citizens’ rights in the Withdrawal Agreement (B9-0031/2020)
Violations of human rights including religious freedoms in Burkina Faso
Situation of the Uyghur in China (China-cables) (debate)
Eastern neighbourhood developments (debate)
Myanmar, notably the situation of the Rohingya
Presentation by the Council of its position on the draft general budget - 2020 financial year (debate)
State of implementation of anti-money laundering legislation (debate)
Situation in Kashmir (debate)
Situation in Hong Kong (debate)
Situation in Hong Kong
Implementation of the EU Global Strategy (debate)
Conclusions of the European Council meeting of 20 and 21 June 2019 (debate)
Election of Vice-Presidents of Parliament (announcement of candidates)
Shadow opinions (1)
OPINION on the draft general budget of the European Union for the financial year 2020
Written questions (1)
Funds PDF (41 KB) DOC (19 KB)
Amendments (971)
Amendment 52 #
2019/2136(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas human rights are facing a rollback globally; whereas people of all regions of the world, when failed by their own governments, are looking to Europe for support in ensuring their human rights are upheld;
Amendment 276 #
2019/2136(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for the strengthening of the EU’s capacity to act autonomously in the area of security and defence; stresses that, while efficient cooperation with partner organisations such as the UN or NATO is more vital than ever, recent conflicts, including Turkey's advances in Northern Syria, show the EU cannot continue its approach of relying on its traditional partners in NATO;
Amendment 287 #
2019/2136(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Calls for the creation of new alliances with some of the EU's strategic partners that share the Union's values and commitment to multilateralism and a rules-based global order;
Amendment 343 #
2019/2136(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Stresses that strengthening substantial relations with East and Southeast Asia is essential to the EU's rules-based, comprehensive and sustainable Connectivity Strategy; takes note of the military build-up in the region and calls for all parties involved to respect the freedom of navigation, to solve differences through peaceful means and to refrain from taking unilateral actions to change the status quo, including in the East and South China Seas and the Taiwan Strait; expresses concern that foreign interferences from autocratic regimes through disinformation and cyber-attacks on the upcoming general elections threaten Asian democracies and regional stability; reiterates its support for Taiwan’s meaningful participation in international organisations, mechanisms and activities;
Amendment 58 #
2019/2135(INI)
4 a. Stresses that strengthening substantial relations with East and Southeast Asia is essential to the EU's rules-based, comprehensive and sustainable Connectivity Strategy; takes note of the military build-up in the region and calls for all parties involved to respect the freedom of navigation, to solve differences through peaceful means and to refrain from taking unilateral actions to change the status quo, including in the East and South China Seas and the Taiwan Strait; expresses concern that foreign interferences from autocratic regimes through disinformation and cyber-attacks on the upcoming general elections threaten Asian democracies and regional stability; reiterates its support for Taiwan’s meaningful participation in international organisations, mechanisms and activities;
Amendment 47 #
2019/2130(INI)
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas recent large-scale money laundering scandals involving financial institutions in the EU demonstrate that prudential and anti-money laundering supervision cannot be treated separately and that a proper system of supervision and enforcement of EU legislation is lacking;
Amendment 48 #
2019/2130(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the European banking sector still remains largely the main provider of financing to companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 59 #
2019/2130(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the full implementation of the Banking Union is necessary to deliver more financing to the economy – both to households and companies, specially SMEs –, promoting investment and job creation;
Amendment 72 #
2019/2130(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the support of the [incoming] President of the European Commission and the President of the ECB for the completion of the Banking Union and, more globally, the Economic and Monetary Union, through the creation of a fiscal capacity designed to provide the euro area with an adequate stabilisation function;
Amendment 92 #
2019/2130(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes however that the prospect of low risk and low profitability, the deterioration of the macroeconomic scenario and geopolitical tensions as well as cyber risks and data security are among the major challenges the EU banking sector is facing;
Amendment 99 #
2019/2130(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; calls further on all European banks to sign up the UN-led Principles for Responsible Banking and report annually on their efforts to sustainable financing and to reducing climate change-related risks in their balance sheets;
Amendment 105 #
2019/2130(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines the importance of protecting consumer rights, namely regarding banking fees, the transparency of products costs, profitability and risks; calls, in this respect, on the European Banking Authority to devote more focus in fulfilling its mandate on properly collecting, analysing and reporting on consumer trends, and also on the review and coordination of financial literacy and education initiatives by the competent authorities;
Amendment 151 #
2019/2130(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that the ratio of non- performing loans (NPLs) held by significant institutions has fallen by more than half from the start of ECB banking supervision, in November 2014, to June 2019; underlines the need to protect customers’ rights in the context of NPL transactions and calls on Member States to put measures in place to ensure that borrowers, who might be in already vulnerable financial situations, are not subject to aggressive and unfair treatment and practices by poorly-regulated debt buyers and collectors;
Amendment 187 #
2019/2130(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that innovative financial technologies are profoundly transforming the financial sector, including banking and payment services; highlights the need to address the challenges posed by these new technologies, such as ensuring sustainable business models, a level playing field in terms of regulation and supervision, and cybersecurity; underlines the financial institutions’ responsibility in ensuring clients’ data protection and security in accordance with EU law;
Amendment 201 #
2019/2130(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the agreement on the exchange of information between the ECB and the AML/CFT supervisors; recalls its serious concern about regulatory and supervisory fragmentation in the AML/CFT area, which is ill-suited to supervise the increasing cross-border activity in the EU; welcomes, in this regard, the Council Conclusions of 5 December 2019, which give a mandate to the Commission to explore ways of ensuring better cooperation between authorities and conferring AML tasks to a Union body, and to turn certain parts of the Anti-money Laundering Directive into a Regulation, to ensure a single rulebook; calls on the Commission to start working on the overhaul of the EU AML framework and legislation to effectively address the risks posed by cross-border illegal activity to the integrity of the EU financial system and the security of EU citizens;
Amendment 256 #
2019/2130(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that banks need to be able to operate across borders while managing their capital and liquidity at a consolidated level, in order to diversify their risks and address any lack of profitability; highlights that rules should allow for greater flexibility for the parent company in this regard, while specifying that, in the event of a crisis, the parent company should provide capital and liquidity to the subsidiary located in the host country; notes the importance of the convergence of liquidation rules among Member States;
Amendment 275 #
2019/2130(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges the completion of the Banking Union through the creation of a fully mutualised EDIS, to protect depositors against banking disruptions and to ensure confidence among depositors and investors across the Banking Union; welcomes the support of the [incoming] President of the Commission and the President of the ECB for the establishment of EDIS;
Amendment 18 #
2019/2126(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the commitment by the Commission President-elect to turn sections of the EIB into a climate bank, and the commitments from the EIB President to increase the share of EIB financing for climate action and environmental sustainability to at least 50 % by 2025 and to align all EIB financing activities with the goals of the Paris Agreement by the end of 2020; calls on the EIB to devote remaining financing to address the technological transition, provide funds for long term research and innovation, SMEs, support the social economy and enhance social and territorial cohesion, namely by filling current investment gaps in public housing and infrastructure; calls on the Commission to present an ambitious new European Sustainable Investment Plan, including additional financial commitments, as soon as possible, and to fully support the EIB in its sustainability ambitions;
Amendment 23 #
2019/2126(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Underlines the important role of the public sector in delivering on the investment targets announced by the new European Commission to unleash €1 trillion of funding for investment in green transition over the next decade; calls, therefore on the EIB to increase technical support and long-term financing for municipalities and public enterprises and increase the funding quota of the EIB for all eligible public projects supporting the green transition up to 75%;
Amendment 35 #
2019/2126(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Urges the EIB and the Member States to ensure that, throughout the phase-out process, regions where the local economy and employment are highly connected to fossil fuels and lacking adequate financing are compensated with substantial investment in training and alternative economic opportunities which guarantee high quality clean jobs, thereby ensuring a smooth transition, where no one is left behind; takes the view that consistency and coordination with other EU financing instruments in this regard will be crucial;
Amendment 53 #
2019/2126(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Recalls that EIB funding should provide additionality to projects that would otherwise not be financed and support projects in line with EU goals in areas where markets fail to invest, to provide long-term financing as well as to encourage investments especially in regions and sectors where it is most needed;
Amendment 54 #
2019/2126(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Points out further that additionality of EIB financing also consists in providing technical advice and capacity-building in order to help projects to become investment-ready and ensure quick mobilization of resources, often faster than in the private sector;
Amendment 55 #
2019/2126(INI)
Draft opinion
Paragraph 4 d (new)
Paragraph 4 d (new)
4 d. Insists on the need to reduce the uneven geographical distribution of the EIB’s financing and guarantee a strong focus on less developed regions that are not properly reached by EIB financing, since economic and social cohesion in the EU is one of the EIB’s objectives; welcomes in this regard the EIB’s announcement to establish an Energy Transition package to provide extra support to those Member States presenting more challenging transition problems;
Amendment 56 #
2019/2126(INI)
Draft opinion
Paragraph 4 e (new)
Paragraph 4 e (new)
4 e. Calls on the Commission to ensure that InvestEU’s sustainability-proofing methodologies are fully consistent with the EU’s sustainability objectives;
Amendment 58 #
2019/2126(INI)
Draft opinion
Paragraph 4 g (new)
Paragraph 4 g (new)
4 g. Takes the view that, for the EIB to become the EU’s Climate Bank and play a role in the just transition, it needs to advance mechanisms to better incorporate the input from various stakeholders, such as climate experts, trade unions and NGOs along its investment strategy;
Amendment 59 #
2019/2126(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the EIB group to be more transparent about its economic operations, its use of the EU budget guarantee, the additionality of EIBits operations and on possible future plans for a development subsidiary at the EIB, and; calls for the EIB group to improve its accountability on these issues; calls for a memorandum of understanding between the EIB and Parliament to improve access to EIB documents and data related to strategic orientation and financing policies in the future in order to strengthen the Bank’s accountability.highlights, in this regard, the need to carry out ex-ante and ex-post evaluation on the projected and achieved economic, social and environmental impact and on the general macroeconomic impact of EIB investment; stresses that the results of such impact analysis should be made available to the public;
Amendment 70 #
2019/2126(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Calls for a memorandum of understanding between the EIB and Parliament to improve access to EIB documents and data related to strategic orientation and financing policies in the future in order to strengthen the Bank’s accountability;
Amendment 71 #
2019/2126(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Welcomes the signing of a Memorandum of Understanding by the EIB and the Japanese International Cooperation Agency(JICA) on 26 September 2019, which will allow for further co-financing and co-investment to be undertaken in developing countries. This collaboration reinforces the important strategic partnership between the EIB and JICA in supporting projects in third countries, which address global issues;
Amendment 72 #
2019/2126(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Supports the commitment made by the EIB, under the third Diversity and Inclusion (D&I)strategy, which covers the period 2018-2021, to increase women in senior officer level to 50% by 2021; and calls on the EIB to ensure they meet their objective of obtaining the Economic Dividends for Gender Equality (EDGE)Certification in the next 12 months;
Amendment 73 #
2019/2126(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Calls on the EIB to continue working in collaboration with like-minded partners to address global issues;
Amendment 78 #
2019/2126(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Is appalled by recent reports linking EIB-financed projects in infrastructure, energy, and other development activities with human rights abuses and threats to the safety and wellbeing of human rights defenders; welcomes the attention that the EIB has devoted to integrating human rights into its operations, but calls on the EIB to step up this approach by putting in place robust human rights due diligence, ensure consultation of affected communities, grant information and enable a safe and participatory process, namely through contractual clauses;
Amendment 82 #
2019/2126(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Acknowledges that the EIB has lent over €118 billion to projects based in the United Kingdom since its accession in 1973; however notes that during 2019, the EIB approved €395million in loans to projects in the United Kingdom, a steep decline from €7.7billion in 2015;
Amendment 83 #
2019/2126(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Is concerned about reports linking EIB investment with fraud and corruption in Member States, despite zero tolerance policy of bank; calls on the EIB needs to devise an anti-corruption action plan to enable stronger controls by the Board and ensure that adequate resources are destined to independently monitor and control projects, assess and mitigate risks;
Amendment 85 #
2019/2126(INI)
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Calls on the EIB to step up its due diligence obligations in line with EU Anti- Money Laundering legislation, and provide a complete regulatory framework to allow the Bank to effectively prevent involvement in illegal activity and ensure a proper sanctioning regime for failure to comply with EU law;
Amendment 91 #
2019/2126(INI)
Draft opinion
Paragraph 5 g (new)
Paragraph 5 g (new)
Amendment 94 #
2019/2126(INI)
Draft opinion
Paragraph 5 h (new)
Paragraph 5 h (new)
5 h. Calls on the EIB to enact stringent standards on financial intermediaries by determining specific benchmarks to select intermediaries in light of tax, transparency, environmental and social concerns;
Amendment 145 #
2019/2110(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planning. Reiterates the call of the Parliament and the Commission stating that EU tax policy should not be dependent on a unanimity rule that can be misused for purely national interests, at the expense of the Single Market and other Member States’ needs. A move to qualified majority voting in taxation would enable Member States to control more effectively the part of their sovereignty that they have pooled together in the interests of the Union as a whole and for greater collective and individual results. Invites therefore the Commission to put this statement in practice and make swiftly use of the specific passerelle clause in the Treaties which offers an obvious route to move away from unanimity in the tax area;
Amendment 6 #
2019/2064(DEC)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Calls on the EEAS to implement gender budgeting in all public expenditure;
Amendment 7 #
2019/2064(DEC)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Recalls that gender mainstreaming is the (re)organisation, improvement, development and evaluation of policy processes, so that a gender equality perspective is incorporated in all policies at all levels and at all stages, by the actors involved in policy-making;
Amendment 11 #
2019/2064(DEC)
3. Notes the remaining gender and geographical imbalances within the EEAS staff, despite positive trends in recent years; reiterates the importance of ensuring a balanced distribution of staff in terms of gender and geographical origin within different categories and grades, particularly at middle and senior management levels; highlights the fact that only the improvement of the geopolitical and gender balance in the EEAS can assure our European ownership of foreign action; points also to the overrepresentation of Member States’ diplomats among Heads of Delegation; calls for further efforts to address these imbalances;
Amendment 13 #
2019/2064(DEC)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Highlights the importance of the flagship project of the European External Action Service’s East StratCom Task Force - EU vs. Disinfo in the fight against disinformation, propaganda and foreign influence on our geopolitical scene.
Amendment 9 #
2018/2176(DEC)
Draft opinion
Paragraph 2
Paragraph 2
Amendment 8 #
2018/2166(DEC)
Draft opinion
Paragraph 3
Paragraph 3
3. SWelcomes the ECA´s special report 22/2017 on EU election observation missions (EOM) and the efforts made to ensure the rapid and full implementation of its recommendations by the Commission and the European External Action Service (EEAS); stresses the importance of continuing to improve the rationalisation and sound financial management, together with a better budgeting of the expenditure for individual EU election observation missionOMs, notably regarding reoccurring procurement by service providers’ procurement costs for technical equipment and visibility material; calls upon the Commission and the European External Action Service (EEAS); encourages the Commission to foster more competition between service providers as a way to bring down costs; invites the Commission and the EEAS to engage in a reflection to reon how to further reinformce the current systemefficiency and effectiveness of the approach taken;
Amendment 54 #
2018/2145(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the ratification by the Parliament of the former Yugoslav Republic of Macedonia of the strategic partnership agreement with Greece on 20 June 2018; urges theall the parties ahead of the upcoming referendum to prioritise the interests of their country first and foremost and that party-political interests are set aside, calls upon all parties to duly inform their citizens of the contents and implications of the agreement and to diligently complete all internal procedures for the ratification and implementation of this strategically important agreement, bringing an end to a protracted geopolitical limbo;
Amendment 187 #
2018/2145(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Notes modest improvements in the media environment and conditions for independent reporting; calls for initiatives to create a climate that is favourable to investigative journalism; welcomes the termination of state-sponsored advertising in the media based on political favouritism as an important measure to foster a level playing field in the sector and calls for further safeguards against politicisation of the media; stresses the need to strengthen the independence and capacity of the media regulator and the public service broadcaster; calls for measures to increase the protection of the labour and social rights of journalists;
Amendment 1 #
2018/2116(INI)
Motion for a resolution
Citation 4 a (new)
Citation 4 a (new)
- having regard to the Global Strategy for the EU Foreign and Security Policy 'Shared Vision, Common Action: A Strong Europe',
Amendment 8 #
2018/2116(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the EU has the ambition to be a stronger global actor - not only economically but also politically - striving with its actions and policies to contribute to the maintenance of international peace and security and a rules-based global order;
Amendment 14 #
2018/2116(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas only two EUSRs are currently women;
Amendment 25 #
2018/2116(INI)
Motion for a resolution
Paragraph 1 – point a
Paragraph 1 – point a
a. to present a strategic reflection on the use, role, mandates and contribution of the EUSR in light of the implementation of the EU Global Strategy;
Amendment 31 #
2018/2116(INI)
Motion for a resolution
Paragraph 1 – point b
Paragraph 1 – point b
b. to ensure that EUSRs are only appointed if there is a clear added value in using this instrument, i.e. if their tasks cannot be fulfilled by existing structures within the EEAS, including by EU Delegations, or within the Commission; also to ensure that EUSRs are primarily used to step up EU efforts in conflict prevention and resolution , in particular through mediation and dialogue facilitation, and/or to advance EU policy objectives in specific thematic fields within the remit of external relations; and to avoid a proliferation of EUSRs and fragmentation of their mandates;
Amendment 38 #
2018/2116(INI)
Motion for a resolution
Paragraph 1 – point d
Paragraph 1 – point d
d. to reinforce the assets that constitute the added value of the EUSR – legitimacy built on the backing of the VP/HR and the Member States, regional/thematic responsibilities, political weight, flexibility and providing a face for EU diplomatic actionenhancing the EU's presence and visibility in partner countries, thus strengthening the EU's profile as an effective international actor;
Amendment 44 #
2018/2116(INI)
Motion for a resolution
Point f
Point f
f. to ensure that horizontal priorities with regard toconflict prevention and resolution, mediation and dialogue facilitation as well as human rights and, democracy and, the rule of law and on gender matters are taken into account as standard practicehorizontal priorities and therefore central cornerstones of the scope of EUSRs' mandates;
Amendment 49 #
2018/2116(INI)
Motion for a resolution
Point g
Point g
g. to require evaluation and monitoring procedures covering results attained, obstacles encountered, indication of key challenges, input to policy formulation, and assessment of the coordination of EUSR activities with other EU actors, to favour exchanges of best practices amongst EUSRs as well as to assess performance and consider the renewal and review of mandates;
Amendment 59 #
2018/2116(INI)
Motion for a resolution
Point j
Point j
j. to appoint as EUSRs persons with extensive diplomatic orand political expertise and an appropriate profile, ensuring in particular that they have the political clout needed to establish links and mutual trust with high-level interlocutors; to profit in this regard from the existing pool of persons with political and diplomatic experience across the EU; to aim at achieving geographic and genderrespect gender and geographic balance;
Amendment 68 #
2018/2116(INI)
Motion for a resolution
Point k
Point k
k. to focus the mandates of the EUSRs on strengthening regional security and on conflict prevention and resolution, especially through facilitating dialogue and mediation in which EU engagement can bring added value; to ensure that in case of thematic focus, appointment of an EUSR does not duplicate or undermine the role of the Commission; and the EEAS;
Amendment 75 #
2018/2116(INI)
Motion for a resolution
Point l
Point l
l. not to appoint any further EUSRs with country-specific mandates in all cases where this would create parallel structures to existing EU Delegations; to phase out the mandates of existing country specific EUSRs (BiH and Kosovo) and to work towards the appointment of an EUSR with a regional portfolio dedicated to all Western Balkan countries;
Amendment 78 #
2018/2116(INI)
Motion for a resolution
Point m
Point m
m. to appoint in a timely manner a new EUSR for Human Rights as the current EUSR reaches the end of his mandate, having successfully fulfilled his role of enhancing the effectiveness and visibility of EU human rights policy; to consider the appointment of a woman towards improving gender equality amongst EUSRs;
Amendment 84 #
2018/2116(INI)
Motion for a resolution
Point n
Point n
n. to consider non-proliferation and international coordination of the fight against climate change as an areas where EU efforts could merit stronger and more focused engagement; to be mindful of not increasing significantly the number of EUSRs to not distract from their special nature;
Amendment 89 #
2018/2116(INI)
Motion for a resolution
Point o
Point o
o. to promotreinforce the interaction and coordination of EUSRs with the different EU institutions and the Member States so as to ensure maximum synergy and coherent engagement of all actors; to strengthen the involvement of EUSRs into the EU Conflict Early Warning System; to ensure there are no overlaps with other high level diplomatic figures such as EU Special Envoys;
Amendment 93 #
2018/2116(INI)
Motion for a resolution
Point p
Point p
p. to reinforce ties with the European Parliament by sharing information on a regular basis about the EUSRs’ work and achievements and the challenges they face, through regularyearly meetings and exchanges of views between EUSRs and the EP relevant bodies, in particular its Committee on Foreign Affairs and Subcommittee on Human Rights, and by systematic sharing with the EP of reports sent by EUSRs to the Political and Security Committee (PSC) and the EEAS;
Amendment 97 #
2018/2116(INI)
Motion for a resolution
Point q
Point q
q. to encourage interaction and facilitate dialogue with civil society and citizens, both in the region covered by the EUSR and within the EUEUSRs, as a part of the preventive diplomacy and mediation processes, and also in the interests of the EU’s visibility;
Amendment 19 #
2018/2007(INI)
Motion for a resolution
Citation 30
Citation 30
— having regard to the work by the European Systemic Risk Board (ESRB) on the risks of stranded assets and the need for European ´carbon stress tests´,
Amendment 54 #
2018/2007(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas a mind-set shift of all stakeholders is needed, which requires cross-cutting legislation from the Commission
Amendment 63 #
2018/2007(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses the potential of a faster green transition as an opportunity for orienting capital markets towards long- term, innovative and efficient investments; notes that environmental, social and governance (ESG) benefits and risks are not reflected in prices and that this provides a market advantage to unsustainable and short-termist geared finance; stresses that a political and regulatory framework to govern sustainable finance is overdue and urges the Commission to come forward with an ambitious legislative framework;
Amendment 96 #
2018/2007(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Emphasises the massive systemic risks that stranded carbon assets represent to financial stability; stresses the need for the identification and mandatory reporting and progressive dismissal of these assets as essential to the orderly transition to climate-positive investments; calls for the introduction of European ‘carbon stress tests’ as proposed by the European Systemic Risk Board (ESRB) in 2016 for banks and other financial intermediaries to determine the risks related to such stranded assets; welcomes the ESRB proposals for climate resilient prudential policies, such as specific capital surcharges based on the carbon intensity of individual exposures or large exposure limits applied to the overall investment in assets deemed highly vulnerable to an abrupt transition to the low-carbon economy.
Amendment 102 #
2018/2007(INI)
3. Emphasises the massive systemic risks that stranded carbon assets represent to financial stability; stresses the need for the identification and mandatory reporting of these assets as essential to the orderly transition to climate-positive investments; calls for the introduction of ‘carbon stress tests’ for banks and other financial intermediaries to determine the risks related to such stranded assets; and urges the Commission to come forward with legislative steps in this respect.
Amendment 122 #
2018/2007(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Commission to lead a multi-stakeholder process to establish by the end of 2019 a robust and credible green taxonomy, including a ‘Green Finance Mark’, through a legislative initiative; which is in line with initiatives in taken in this regards in other parts of the world, including a ‘Green Finance Mark’, through a legislative initiative; and calls to take into account the commitments of the UN Sustainable Development Goals when defining the taxonomy.
Amendment 137 #
2018/2007(INI)
Motion for a resolution
Paragraph 6 – point 1
Paragraph 6 – point 1
1. a minimum standard aligned with the Paris Agreement and the do-no-harm principle in accordance with ESG risk analysis; of ESG risks and factors which builds on the UNEP Inquiry Definition of sustainability factors, is aligned with the Paris Agreement, the UN Sustainable Development Goals, Agenda 2030 and in line with international human rights, and international humanitarian, labour and environmental laws and the do-no-harm principle in accordance with ESG risk analysis, including at a minimum: (a) Environmental factors –climate change risks, bio-diversity ,waste, pollution, water security and deforestation, and remaining within planetary boundaries (b) Social factors – human rights (including Free, Prior and Informed Consent of local communities), customary rights, workers` rights, women’s and children´s rights, health and safety, and conflict situations (c) Governance factors –corporate governance, tax strategies, remuneration and measures to tackle corruption, tax avoidance and evasion and money laundering
Amendment 143 #
2018/2007(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Underlines that the taxonomy should strike the right balance between commitment and flexibility, which means that framework should be mandatory and standardised, but should also be regarded as an evolving tool which can take on board emerging risks and/or risks that have yet to be mapped in a proper way.
Amendment 163 #
2018/2007(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Asks the Commission to adopt a regulatory strategy aimed inter alia at measuring sustainability risks within the framework of capital adequacy rules; stresses that capital adequacy rules must be based on and fully reflect ademonstratquately assessed risks; aims to initiate an EU pilot project within the next annual budget to begin developing methodological benchmarks for that purpose; urges the Commission to assess the climate, societal and stability benefits of additional measures beyond the integration of ESG risks and factors into the prudential framework of financial institutions, including a brown add-on factor, exposure limits and specific capital surcharges;
Amendment 166 #
2018/2007(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Asks the Commission to adopt a regulatory strategy aimed inter alia at measuring sustainability risks within the framework of capital adequacy rules; stresses that capital adequacy rules must be based on and fully reflect demonstrated risks; aims to initiate an EU pilot project within the next annual budget to begin developing methodological benchmarks for that purpose; urges the Commission to assess the climate, societal and financial stability benefits of the introduction of a “brown factor” in capital requirements legislation,
Amendment 179 #
2018/2007(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Stresses that insurance companies should be subject to binding legislation and regulation that requires them to disclose the ESG impact of all their investments, to exercise due diligence and to be held accountable for negative ESG impacts; asks for the inclusion of sustainability factors into each of the three pillars of Solvency II;
Amendment 190 #
2018/2007(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Upholds that mandatory disclosure and standardisation is also a key from the perspective of green investors; underlines in this context that the regulation on simple, transparent and standardised securitisation requires issuers to disclose ESG characteristics of mortgages and auto loans, which may help to build green investment portfolio’s and accelerate the greening of our economy;
Amendment 197 #
2018/2007(INI)
Motion for a resolution
Paragraph 9 d (new)
Paragraph 9 d (new)
9 d. Clarifies that, especially in the short term when standardisation is not yet available, financial companies have a duty of care which means that they should identify, mitigate, prevent and publicly disclose all relevant information on risks, including at least financially materially risks, sustainability risks and risks relating to the broader corporate goals; requires that this information should be signed off by the board, CEO or CFO
Amendment 232 #
2018/2007(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Notes the urgent need for a uniform standard for green bonds; insists that such green bonds should include periodic reporting on the environmental impacts of the underlying assets; underlines that green bonds should also respect negative criteria and must not include any form of fossil fuel asset, nuclear power or investment in aviation infrastructure; Calls on the European Commission to regularly assess the impact, effectiveness and supervision of the green bonds in relation to the EU’s climate and environmental policies and commitments;
Amendment 303 #
2018/2007(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. CIs concerned about the findings by the London School Of Economics “that 62.1% of ECB corporate bond purchases take place in the sectors [...] which are responsible for 58.5% of eurozone greenhouse gas emissions”1a; calls on the ECB to redesign its purchase programmes in order to rebalance and align its portfolio with an investment policy that is consistent with the Paris Agreement and ESG goals; underlines that such redesign may act as a pilot for establishing a future sustainability taxonomy; calls on the ECB to mainstream climate considerations into its day-to-day operations; _________________ 1aSini Matikainen, Emanuele Campiglio and Dimitri Zenghelis, ‘The climate impact of quantitative easing’, Grantham Institute on climate change and the environment, May 2017
Amendment 310 #
2018/2007(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the ECB to redesign urgently its purchase programmes in order to rebalance and align its portfolio with an investment policy that is consistent with the Paris Agreement and ESG goals and reports back to the European Parliament on this; underlines that such redesign may act as a pilot for establishing a future sustainability taxonomy;
Amendment 54 #
2018/0180(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) It is furthermore necessary to introduce a clear distinction between low- carbon and posinegative carbon impactemissions benchmarks. While the underlying assets in a low-carbon benchmark should be selected with the aim of reducing carbon emissions of the index portfolio when compared to the parent index, a posinegative carbon impact indexemissions benchmarks should only comprise components whose emissions savings exceed their carbon emissions.
Amendment 58 #
2018/0180(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) Each company whose assets are selected as underlying in a positive impactnegative carbon emissions benchmarks should save more carbon emissions than it produces, hence have a positive impact on the environment. The asset and portfolio managers who claim to pursue an investment strategy compatible with the Paris Climate Agreement should therefore use posinegative carbon impactemissions benchmarks.
Amendment 69 #
2018/0180(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) For the same reasons, administrators of low-carbon and of posinegative carbon impactemissions benchmarks should equally publish their methodology used for their calculation. That information should describe how the underlying assets were selected and weighted and which assets were excluded and for what reason. The benchmark administrators should also specify how the low carbon benchmarks differ from the underlying parent index, notably in terms of the applicable weights, market capitalisation and financial performance of the underlying assets. To assess how the benchmark contributes to the environmental objectives, the benchmark administrator should disclose how the carbon footprint and carbon savings of the underlying assets were measured, their respective values, including the total carbon footprint of the benchmark, and the type and source of the data used. To enable asset managers to choose the most appropriate benchmark for their investment strategy, benchmark administrators should explain the rationale behind the parameters of their methodology and explain how the benchmark contributes to the environmental objectives, including its impact on climate-change mitigation. The published information should also include details on the frequency of reviews and the procedure followed.
Amendment 77 #
2018/0180(COD)
(18) To ensure continued adherence to the selected climate-change mitigation objective, administrators of low-carbon and posinegative carbon impactemissions benchmarks should regularly review their methodologies and inform users of the applicable procedures for any material change. When introducing a material change, benchmark administrators should disclose the reasons for that change and explain how the change is consistent with the benchmarks’ initial objectives.
Amendment 86 #
2018/0180(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to enhance transparency and ensure an adequate level of harmonization, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission to specify further the minimum content of the disclosure obligations that benchmark administrators that take into account the ESG objectives should be subject to, and to specify the minimum standards for harmonization of the methodology of low- carbon and posinegative carbon impactemissions benchmarks, including the method for the calculation of carbon emissions and carbon savings associated with the underlying assets, taking into account the Product and Organisation Environmental Footprint methods as defined in points (a) and (b) of point 2 of Commission Recommendation 2013/179/EU31 . It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement on Better Law-Making of 13 April 2016. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States’ experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. _________________ 31 Commission Recommendation 2013/179/EU of 9 April 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations (OJ L 124, 4.5.2013, p. 1).
Amendment 101 #
2018/0180(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EU) 2016/1011
Article 3 – paragraph 1 – point 23 b (new)
Article 3 – paragraph 1 – point 23 b (new)
(23b) ‘posi"negative carbon impactemissions benchmark’s" means a benchmark wherethat the uinderlying assets, for the purposes of point 1(b)(ii) of this paragraph, are selected on the basisx companies, as a portfolio, produce goods in a manner that removes more carbon from the air thatn their carbon emissions savings exceed the asset's carbon footprint and which is constructed in accordance with the standards laid down in the delegated acts referred to in Article 19a(2y emit. This means that the index components will have to prove that they balance all of their residual emissions with carbon removals (when compared to the traditional way of producing goods).;
Amendment 106 #
2018/0180(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)
Article 1 – paragraph 1 – point 1 a (new)
Regulation (EU) 2016/1011
Article 11 – paragraph 1 – subparagraph f (new)
Article 11 – paragraph 1 – subparagraph f (new)
1a. In Article 11, paragraph 1, the following is added: “(f) by 2022, the administrator of critical and significant benchmarks shall only use input data which are aligned with the Paris Agreement commitments as implemented in EU legislation.”;
Amendment 121 #
2018/0180(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) 2016/1011
Title III – Chapter 3 a (new) – title
Title III – Chapter 3 a (new) – title
Low-carbon and posinegative carbon impactemissions benchmarks
Amendment 126 #
2018/0180(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) 2016/1011
Title III – Chapter 3 a (new) – Article 19 a – paragraph 1
Title III – Chapter 3 a (new) – Article 19 a – paragraph 1
(1) The requirements laid down in Annex III shall apply to the provision of, and contribution to, low-carbon or posinegative carbon impactemissions benchmarks in addition to, or as a substitute for, the requirements of Title II, III and IV.
Amendment 136 #
2018/0180(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) 2016/1011
Title III – Chapter 3 a (new) – Article 19 a – paragraph 2 – introductory part
Title III – Chapter 3 a (new) – Article 19 a – paragraph 2 – introductory part
(2) The Commission shall be empowered to adopt delegated acts in accordance with Article 49 to specify further the minimum standards for low- carbon and posinegative carbon impactemissions benchmarks, including:
Amendment 160 #
2018/0180(COD)
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
Regulation (EU) 2016/1011
Article 59 – subparagraph 1
Article 59 – subparagraph 1
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union. To ensure future consistency and legal certainty, it is imperative that as and when the EU taxonomy regulation comes into force, there is coherence between the both texts.
Amendment 166 #
2018/0180(COD)
Proposal for a regulation
Annex I – subheading 1
Annex I – subheading 1
Low-carbon and posinegative carbon impactemissions benchmarks
Amendment 248 #
2018/0180(COD)
Proposal for a regulation
Annex I – subheading 3
Annex I – subheading 3
Methodology for posinegative carbon impactemissions benchmarks
Amendment 256 #
2018/0180(COD)
Proposal for a regulation
Annex I – point 2
Annex I – point 2
2. The administrator of a posinegative carbon impactemissions benchmark,s in addition to the obligations applicable to the administrator of a low carbon benchmark, shall disclose the positive carbon impact of each underlying asset included in the benchmark and shall specify the formula or calculation that is used to determine whether the emission savings exceed the investment asset's or company's carbon footprint ('posinegative carbon emissions impact ratio').
Amendment 261 #
2018/0180(COD)
Proposal for a regulation
Annex I – point 3 – introductory part
Annex I – point 3 – introductory part
3. Administrators of low-carbon and posinegative carbon impactemissions benchmarks shall adopt and make public to users procedures for and the rationale of any proposed material change in their methodology. Those procedures shall be consistent with the overriding objective that benchmark calculations adhere continuously to the low-carbon or posithe negative carbon impactemissions objectives. Those procedures shall provide:
Amendment 265 #
2018/0180(COD)
Proposal for a regulation
Annex I – point 4
Annex I – point 4
4. Administrators of low-carbon and posinegative carbon impactemissions benchmarks shall regularly examine their methodologies to ensure that they reliably reflect the relevant low-carbon or posinegative carbon emissions objectives and shall have a process in place for taking the views of relevant users into account.”.
Amendment 69 #
2018/0179(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Since sustainability benchmarks serve as standard points of reference against which sustainable investments are measured, end-investors should be informed by means of pre-contractual disclosures about the appropriateness of the designated index, namely the alignment of that index with the sustainable investment target. Financial market participants should also disclose the reasons for different weighting and constituents of the designated index compared to a broad market index. To further foster transparency, financial market participants should also indicate where the methodology used for the calculation of the designated index and the broad market index is to be found, so that end-investors have the necessary information on how the underlying assets of the indexes were selected and weighted, which assets were excluded and for what reason, how sustainability-related impacts of the underlying assets were measured, or which data sources were used. Benchmark providers should also disclose the concrete impact the use of the benchmark will have on achieving the Paris agreement objectives. Such disclosures should allow for effective comparison and contribute to develop a correct perception of sustainably-friendly investments. Where no index has been designated as a reference benchmark financial market participants should explain how the sustainable investment target is reached.
Amendment 74 #
2018/0179(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The current disclosure requirements set out by Union legislation do not provide that all the information necessary to properly inform end-investors about the sustainability-related impact of their investments must be disclosed. Therefore, it is appropriate to set out more specific standardised disclosure requirements with regard to sustainable investments. For instance, the overall sustainability-related impact of financial products should be reported regularlygularly reported in a standardised way and this by means of indicators relevant for the chosen sustainable investment target. Where an appropriate index has been designated as reference benchmark that information should also be provided for the designated index and to a broad market index to allow for comparison. Information on the constituents of the designated index and of the broad market index along with their weightings should also be disclosed, to provide further comparable information on how the sustainable investments targets are achieved. Where EuSEF managers make available information on the positive social impact targeted by a given fund, the overall social outcome achieved and the related methods used in accordance with Regulation (EU) No 346/2013, they may, where appropriate, use this information for the purposes of the disclosures under this Regulation.
Amendment 200 #
2018/0179(COD)
Proposal for a regulation
Article 5 – paragraph 3 – subparagraph 1
Article 5 – paragraph 3 – subparagraph 1
Where a financial product has as its target the reduction in carbon emissions, the standardised information to be disclosed pursuant to Article 4(1) shall include the targeted low carbon emission exposure.
Amendment 29 #
2018/0165(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) It has however been noted that issuers admitted to trading on an SME growth market benefit from relatively few regulatory alleviations compared to issuers admitted to trading on MTFs or regulated markets. Most of the obligations set out in Regulation (EU) No 596/2014 European Parliament and of the Council25 apply in the same manner to all issuers, irrespective of their size or the trading venue where their financial instruments are admitted to trading. That low level of differentiation between SME growth markets and MTF issuers acts as a disincentive for MTFs to seek a registration as an SME growth market, which is illustrated by the low uptake of the SME growth market status to date. It is therefore necessary to introduce additional proportionate alleviations to adequately foster the use of SME growth markets. _________________ 25 Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1).
Amendment 31 #
2018/0165(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The attractiveness of SME growth markets should be reinforced by further reducing the compliance costs and administrative burdens faced by SME growth market issuers whilst at the same time ensuring that investors protection rules should not be lowered . In this respect, SME growth markets should ensure fair prices and transparency around conflict of interests. To maintain the highest standards of compliance on regulated markets, the alleviations provided for in this Regulation should be limited to companies listed on SME growth markets, irrespective of the fact that not all SMEs are listed on SME growth markets and not all companies listed on SME growth markets are SMEs. Pursuant to Directive 2014/65/EU, up to 50% of non- SMEs can be admitted to trading on SME growth markets to maintain the profitability of the SME growth markets’ business model through, inter alia, liquidity in non-SMEs securities. In view of the risks involved in applyingTo avoid a different sets of rules applied to issuers listed on the same category of venue, namely SME growth markets, the changes set out in this Regulation should not be limited to SME issuers only. For the sake of consistency for issuers and clarity for investors, the alleviation of compliance costs and administrative burdens should but should be applyied to all issuers on SME growth markets, irrespective of their market capitalisation. Applying the same set of rules to issuers also ensures that companies are not penalised because they are growing and are no longer SMEs.
Amendment 34 #
2018/0165(COD)
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) small and medium-sized enterprises’ or ‘SMEs’ means any of the following: (i)companies, which, according to their last annual or consolidated accounts, meet at least two of the following three criteria: an average number of employees during the financial year of less than 250, a total balance sheet not exceeding EUR 43 000 000 and an annual net turnover not exceeding EUR 50 000 000;
Amendment 36 #
2018/0165(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) According to Article 11 of Regulation (EU) No 596/2014, a market sounding comprises the communication of information, prior to the announcement of a transaction, in order to gauge the interest of potential investors in a possible transaction and the conditions relating to it such as its potential size or pricing, to one or more potential investors. During the negotiation phase of a private placement of bonds, SME growth market issuers enter into discussions with a limited set of potential qualified investors (as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council26 ) and negotiate all the contractual terms and conditions of the transaction with those qualified investors. The communication of information in that negotiation phase of a private placement of bonds aims at structuring and completing the entire transaction, and not at gauging the interest of potential investors as regards a pre- defined transaction. Imposing market sounding on private placements of bonds can thusometimes be burdensome and act as a disincentive to enter into discussions for such transactions for both issuers and investors. In order to increase the attraction of private placement of bonds on SME growth markets, those transactions should be excluded from the scope of the market sounding regime, provided that an adequate non-disclosure agreement is in place. _________________ 26 Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (OJ L 168, 30.6.2017, p. 12).
Amendment 37 #
2018/0165(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Some liquidity in an issuer’s shares can be achieved through liquidity mechanisms such as market-making arrangements or liquidity contracts. A market-making arrangement involves a contract between the market operator and a third party who commits to maintaining the liquidity in certain shares and benefits from rebates on trading fees in return. A liquidity contract involves a contract between an issuer and a third party who commits to providing liquidity in the shares of the issuer, and on its behalf. To ensure that market integrity is fully preserved, liquidity contracts should be available for all SME growth markets issuers across the Union, subject to a number of conditions. Not all competent authorities have, pursuant to Article 13 of Regulation (EU) No 596/2014, established accepted market practices in relation to liquidity contracts pursuant to Article 13 of Regulation (EU) No 596/2014, which means that not all SME growth market issuers have currently access to liquidity schemes across the Union. That absence of liquidity schemes can be an impediment to the effective development of SME growth markets. It is therefore necessary to create a Union framework that will enable SME growth market issuers to enter into a liquidity contract with a liquidity provider in another Member State in the absence of an accepted market practice established at national level. The Union framework on liquidity contracts for SME growth markets should however not replace, but rather complement, existing or future accepted market practices. Competent authorities should keep the possibility to establish accepted market practices on liquidity contracts to tailor their conditions to local specificities or to extend such agreements to illiquid securities other than SME growth market shares.
Amendment 43 #
2018/0165(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The current less stringent requirements for SME growth markets issuers to produce, in accordance with Article 18(6) of Regulation (EU) No 596/2014, an insider list only upon the request of the competent authority, is of limited practical effect, because those issuers are still subject to ongoing monitoring of the persons who qualify as insiders in the context of ongoing projects. The existing alleviation should therefore be replaced by the possibility for SME growth markets issuers to maintain only a list of permanent insiders, which should include persons and direct family of persons who have regular access to inside information due to their function or position within the issuer. This list should be kept up to date on a yearly basis and be communicated to the competent authority.
Amendment 46 #
2018/0165(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 596/2014
Article 13 – paragraph 12 – subparagraph 2
Article 13 – paragraph 12 – subparagraph 2
The issuer referred to in the first subparagraph of this paragraph shall be able to demonstrate at any time that the conditions under which the contract was established are met on an ongoing basis. That issuer and the investment firm operating the SME growth market shall provide the relevant competent authorities with a copy of the liquidity contract upon their request.
Amendment 49 #
2018/0165(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 596/2014
Article 17 – paragraph 4
Article 17 – paragraph 4
An issuer whose financial instruments are admitted to trading on an SME growth market and which has decided to delay the public disclosure of inside information shall notify that decision to the competent authority. The explanations for the decision to delay are to be provided tonly upon request of the competent authority specified in accordance with paragraph 3. That competent authority shall not require that issuer to keep a record of that explanation.
Amendment 52 #
2018/0165(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 596/2014
Article 18 – paragraph 6
Article 18 – paragraph 6
That list shall be provided to the competent authority upon its request.;.
Amendment 53 #
2018/0165(COD)
Proposal for a regulation
Article 2 – paragraph -1 (new)
Article 2 – paragraph -1 (new)
Regulation (EU) No 2017/1129
Article 1 – paragraph 4 – point f
Article 1 – paragraph 4 – point f
Amendment 66 #
2018/0076(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Regulation (EC) No 924/2009
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Charges levied by a payment service provider on a payment service user in respect of cross-border payments in euro, or for a card-based payment transaction in the national currency of a Member State other than the euro, shall be the same as the charges levied by that payment service provider on payment service users for corresponding national payments of the same value and in the official currency of the payment service user’s Member State.”,
Amendment 177 #
2018/0048(COD)
Proposal for a regulation
Recital 40
Recital 40
(40) It is important to effectively and efficiently ensure compliance with the requirements for authorisation and for the provision of crowdfunding services, in accordance with this Regulation. ESMA should therefore be conferred competences to grant authorisation and exercise oversight. To enable ESMA to fulfil that supervisory mandate, it should be given the power to request information, carry out general investigations and on-site inspections, issue public notices and warnings and impose sanctions. ESMA should make use of its oversight and sanctioning competences in a proportionate manner.
Amendment 180 #
2018/0048(COD)
Proposal for a regulation
Recital 41
Recital 41
Amendment 182 #
2018/0048(COD)
Proposal for a regulation
Recital 42
Recital 42
Amendment 241 #
2018/0048(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Any legal person that intends to providebecome a crowdfunding services provider shall apply to ESMAthe national competent authority of the Member State where it is established for authorisation as ato provide crowd funding service providers.
Amendment 250 #
2018/0048(COD)
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
4. ESMAThe national competent authority shall, within 230 working days of receipt of the application referred to in paragraph 1, assess whether that application is complete. Where the application is not complete, ESMAthe national competent authority shall set a deadline by which the prospective crowdfunding service provider is to provide the missing information.
Amendment 256 #
2018/0048(COD)
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. ESMAThe national competent authority shall, within twohree months from the receipt of a complete application, assess whether the prospective crowdfunding service provider complies with the requirements set out in this Regulation and shall adopt a fully reasoned decision granting or refusing authorisation as a crowdfunding service provider. ESMAThe national competent authority shall have the right to refuse authorisation if there are objective and demonstrable grounds for believing that the management of the crowdfunding service provider may pose a threat to its effective, sound and prudent management and business continuity and to the adequate consideration of the interest of its clients and the integrity of the market.
Amendment 260 #
2018/0048(COD)
Proposal for a regulation
Article 10 – paragraph 7
Article 10 – paragraph 7
7. ESMAThe national competent authority shall notify the prospective crowdfunding service provider of its decision within fivetwo working days after having taken that decision.
Amendment 28 #
2017/2280(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is concerned that the EU and its instruments face significant challenges, including political trade-offs between the promotion of values and rights and short- term security interestinterests, the emergence of new actors in the field of global governance and international financial institutions, numerous violent global conflicts and a decline in trans- Atlantic consensus;
Amendment 99 #
2017/2280(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Regrets that visibility of the EU External Funding Policy remains limited in a context where third actors are actively seeking to undermine EU foreign policy through disinformation;
Amendment 190 #
2017/2280(INI)
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34 a. Calls for an increased focus on the sustainability of EIDHR-funded actions, notably in the context of Election Observation Missions, where there is significant scope to step up transfer of knowledge to local actors and improve follow-up of recommendations;
Amendment 200 #
2017/2280(INI)
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36 a. Underscores the importance of a well-resourced Partnership Instrument for pro-actively defending EU values and interests in the context of a declining trans-Atlantic consensus and the growing number of middle-income countries whose strategic importance is rapidly increasing, including in Asia and Latin America;
Amendment 204 #
2017/2280(INI)
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37 a. Calls for the inclusion of gender mainstreaming amongst the provisions of the CIR;
Amendment 205 #
2017/2280(INI)
Motion for a resolution
Paragraph 37 b (new)
Paragraph 37 b (new)
37 b. Calls for further stepping up efforts to increase visibility of EU external policy funding through a comprehensive and coherent communication strategy which includes measures to tackle disinformation; calls for introducing conditionality mechanisms vis-à-vis implementing partners when measures to increase EU visibility are not complied with;
Amendment 260 #
2017/2280(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Recalls the difficulties that beneficiaries currently experience in securing funding under the instruments; calls for simplified proceduresying procedures and, where possible, adopting unified procedures for the different Commission and EEAS services involved, the establishment of a one-stop-shop for organisations applying for EU funding and the use of digital solutions where possible to streamline and reduce bureaucratic burdens;
Amendment 265 #
2017/2280(INI)
Motion for a resolution
Paragraph 46 a (new)
Paragraph 46 a (new)
46 a. Calls for exploring ways to increase coordination and coherence with external funding policies by EU Member States, including through the enhancement of joint programming;
Amendment 37 #
2017/2253(INI)
Motion for a resolution
Recital G
Recital G
G. whereas in its resolution of 19 January 2016 on stocktaking and challenges of the EU Financial Services Regulation, Parliament called on the Commission to ‘propose a consistent, coherent, transparent and practical framework for procedures and decisions on third-country equivalence, taking into account an outcome-based analysis and international standards or agreements’; whereas the Parliament stressed in the same resolution that capital markets in the Union remain fragmented; therefore, in order to make the CMU a success and to ensure that the financing of companies in the EU becomes less costly, underlines the need to elaborate a workable and effective equivalence regime given the fact the largest pools of European liquidity and capital still remains located in the UK;
Amendment 46 #
2017/2253(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Considers that the EU should promote global financial regulatory reforms aimed at reducing systemic risk and enhancing financial stability, and should work towards an open, integrated and resilient financial system that supports sustainable economic growth, job creation and investment;s.
Amendment 95 #
2017/2253(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasises that one of the key objectives for equivalence isare to promote regulatory convergence on the basis of international standards; as well as to balance the needs of financial stability and investor protection in the EU on the one hand with the benefits of maintaining an open and globally integrated EU financial markets on the other;
Amendment 195 #
2017/2253(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Calls for defining a consistent and transparent set of criteria for “high- impact”third countries.
Amendment 216 #
2017/2191(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Asks the Commission to apply State aid rules strictly and uniformly to European airlines such as Alitalia and Air Berlin; believes that restructuring aid is one of the most distortive forms and that the same rules should be applied to national and low-cost carriers;
Amendment 16 #
2017/2145(DEC)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls on the Council and the EEAS to fulfil their legal obligation to send to the European Parliament, without delay and without requiring requests, all relevant documents related to negotiations on international agreements, including negotiating directives, agreed texts and minutes of each negotiation round in line with Article 218(10) TFEU, according to which the "European Parliament shall be immediately and fully informed at all stages of the procedure"; reminds the Council and the EEAS that, due to the infringement of Article 218(10) in the past, the European Court of Justice has already annulled the Council decisions on the signing and conclusion of several agreements and emphasises that the Parliament's consent on new agreements, such as the Comprehensive and Enhanced Partnership with Armenia, may also be withheld in the future, until the Council and the EEAS fulfil their legal obligation;
Amendment 18 #
2017/2145(DEC)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Notes that the EEAS has not yet followed up on the recommendation made in European Court of Auditors' Special Report 14/2013 which calls for the preparation of a detailed action plan in order to enhance effectiveness of EU support to Palestine; encourages the EEAS to fully implement this recommendation in cooperation with the Commission;
Amendment 7 #
2017/2136(DEC)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Underlines that overall reporting on spending on migration and the refugee crisis needs to be more coherent and comprehensive; in this context is deeply concerned over the fact that the use of other financial mechanisms alongside the EU budget to deliver EU policies, such as trust funds and the Turkey Refugee Facility, risks to undermine accountability and transparency;
Amendment 12 #
2017/2136(DEC)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Takes note of the Final Report on the External Evaluation of the European Instrument for Democracy and Human Rights issued in June 2017;welcomes indications that election observation is contributing to the overall and specific objectives of the EIDHR; underscores the importance of ensuring continued support among local populations for EOMs; to this effect draws attention to the need to ensure cost effectiveness and introduce proportionality between the resources spent on EOMs and the follow up of its recommendations; calls on the Commission to consider proposals made in the Final Report on the External Evaluation of the EIDHR to further strengthen the follow up of recommendations that result from election monitoring;
Amendment 16 #
2017/2136(DEC)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Takes note of the ECA special report 11/2017 on the Bêkou EU trust fund for the Central African Republic; welcomes all the recommendations made by the ECA and calls on the Commission to implement them; in this light particularly underscores the importance of addressing concerns regarding coordination amongst stakeholders, attraction of additional donors, transparency and cost- effectiveness as well as the need to fully develop monitoring and evaluation mechanisms;
Amendment 18 #
2017/2136(DEC)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Takes note of the ECA Special Report 03/2017 on EU Assistance to Tunisia; notes with satisfaction that EU funding made a significant contribution to the democratic transition and economic stability of Tunisia; welcomes all the recommendations made by the ECA and calls on the Commission to implement them; underscores the importance of strengthening the programming and focus of EU assistance and the implementation of EU budget support programmes and calls on the Commission to explore options for accelerating approval procedures of Macro-Financial Assistance, particularly for emergency funding;
Amendment 20 #
2017/2136(DEC)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Equally welcomes recommendations made by the ECA in Special Report 09/2017 on EU support to fight human trafficking in South and South-East Asia; particularly encourages the Commission to optimise the impact of projects by integrating them into a comprehensive framework and strengthening its focus on sustainability of project results;
Amendment 21 #
2017/2136(DEC)
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5d. In view of the significant bilateral support given to Libya across a number of sectors including civil society, governance, health, education, migration and protection, support to the political process, and security and mediation, calls on the ECA to issue a Special Report on EU Assistance to Libya;
Amendment 283 #
2017/2124(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that excessive current account surpluses in some Member States must be corrected through appropriate fiscal policies; invites the Commission to take thereto the necessary policy steps.
Amendment 305 #
2017/2124(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Acknowledges that monetary policy has effectively reduced the cost of credit and helped to improve access to finance for companies and households in certain parts of the Euro area; considers, however, that the effect of this policy is limited owing to the lack of sufficient credit demand in the euro area;
Amendment 394 #
2017/2124(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Encourages the ECB to take steps to align its CSPP purchases with the EU’s commitment to tackling climate change; regrets however the substantial investment by the ECB in bonds issued by corporates active in the fossil fuel sector
Amendment 441 #
2017/2124(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. WelcomesTakes note of the amendment of Article 22 of the ECB Statute to provide a legal basis for the Eurosystem to carry out its role as central bank of issue in the proposed reform of the supervisory architecture for central counterparties (CCPs);
Amendment 483 #
2017/2124(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Calls on the ECB to assess all the consequences of the UK’s withdrawal from the EU and to stand ready to support banks in relocating their activities in the euro area; considers the strengthening of oversight for euro-clearing outside the euro area by strengthening the supervisory cooperation between ESMA, the ECB and the BOE, to be of the utmost importance;
Amendment 541 #
2017/2124(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Asks the ECB to make it a rule to publish its decisions, recommendations and opinions, thereby drastically reducing the number of exemptions from disclosureWelcomes the recent efforts taken by the ECB to improve the transparency of its functioning. Believes however that transparency can still be enhanced, eg by being more transparent on the eligibility criteria as well as on the beneficiaries of the ECB's purchase programmes;
Amendment 84 #
2017/2114(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that Europe harbours untapped economic potential as growth and employment are advancing unevenly; underlines that this is the result of the heterogeneous performance of the Member States’ economies; emphasises that the implementation of structural reforms in the Member States could facilitate at least 1 % higher growth; underlines in this regard as a key priority to tackle the investment gap as well as to step up the fight against tax avoidance,tax evasion and corruption.
Amendment 95 #
2017/2114(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Takes the view that a greater degree of upward social and economic convergence would be needed to sustain the economic and social recovery in the EU and the euro area in the longer term;
Amendment 106 #
2017/2114(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that for this to materialise the structural conditions for sustainable growth need to be improved; takes the view that the potential sustainable growth of all Member States should increase- on average- in the long term to at least 3 %; for this to happen, establishing clear benchmarks on how to improve the potential growth of Member States could provide the necessary guidance for policy actions; points out that such a regular benchmarking exercise would have to take due account of individual structural strengths and weaknesses of Member States;
Amendment 112 #
2017/2114(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises that this would complement ongoing efforts on improving the quality and management of national budgets by addressing the triggers for a sustainable and social inclusive growth in line with Union fiscal rules;
Amendment 147 #
2017/2114(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is of the opinion that legacies from the crisis such as a high level of indebtedness in all sectors of the economy still act as a drag on growth and pose potential risks; is concerned in this regard that the persistently high level of non- performing loans in some Member States could have significant spill-over effects from one Member State to another, presenting a risk to financial stability in Europe; calls therefore for an urgent European solution for the non performing loans problem.
Amendment 159 #
2017/2114(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes the view that reforms to improve the business climate are needed to boost productivity and employment in the euro area; underlines in this context the importance of supply-side reformshowever that as a priority the challenges the demand-side is facing should be tackled;
Amendment 184 #
2017/2114(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. SharesTakes note of the Commission’s view on the need for changes in labour market legislation that provide flexibility and security for both employees and employers, thereby increasing employment and ensuring sustainable growth; underlines at the same time the need to respect fundamental rights and the important added value of an effective social dialogue;
Amendment 202 #
2017/2114(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 234 #
2017/2114(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Agrees that the economic upswing needs to be supported by sustainable green investment and notes that there is still an investment gap in the euro area; recognises, however, that in some Member States investments already exceed the pre- crisis level;
Amendment 300 #
2017/2114(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the fact that deficits in the euro area are projected to decline; is concerned, however, that this process is slowing down and agrees that government and private debt remains too high in some Member States;
Amendment 389 #
2017/2114(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Considers it of great importance therefore that all Member States take the necessary policy action to address imbalances, in particular high levels of indebtednesall types of imbalances, and commit to structural reforms ensuring the economic sustainability of each individual Member State, thereby ensuring the overall competitiveness and resilience of the European economy;
Amendment 366 #
2017/2072(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that deposit protection is a common concern for all EU citizens; is currently debating the proposal on an EDIS at committee level; notes,regrets in this respect, the Commission’s more proportionate ‘new approach’ to an EDIS as put forward in its communication of 11 October 2017;
Amendment 36 #
2017/2071(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap, but that its activities should not come into conflict with fiscal rules, as fiscal stability is a key precondition for stable and sustainable economic growth; highlights that the EIB is a key partner in the fight for a more sustainable financing and that it should step up its efforts in the future by investing less in fossil fuel projects and more in renewable energy.
Amendment 53 #
2017/2071(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; underlines in this respect the need to get asap legal certainty around ongoing projects co-financed by the EIB in the UK. Stresses at the same time the importance of getting clarity around the UK contribution in the EIB budget.
Amendment 71 #
2017/2071(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Stresses the need for the EIB to prioritise external operations so that its activities especially focus on areas of high importance for the EU; highlights in this respect the expansion of the EIB's External Lending Mandate (ELM) to step up activities in pre-accession countries, southern neighbourhood, Mediterranean region, Latin America and Asia. Highlights furthermore the great potential for EIB operations to improve the economic situation in Ukraine, which is facing great economic stress and instability due to the on-going armed conflict in Eastern Ukraine, with the direct and indirect participation of Russian military and security services;
Amendment 18 #
2017/2066(INI)
Motion for a resolution
Recital B
Recital B
B. whereas a European retail financial services market would only be viable if it represented real added value for consumers by ensuring effective competition and consumer protection, notably in relation to safe investment products necessary for participation in economic life and for vulnerable consumers;
Amendment 52 #
2017/2066(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Believes that the Commission should play a more proactive role in using the capital markets union, while closely involving Parliament as part of the implementation of the Paris agreement to support the growing sustainable and responsible investment (SRI) market by promoting sustainable investments; urges, the Commission, furthermore, to promote environmental, social and governance (ESG) ‘rating services’ and a consistent framework for the green bonds market, building on the relevant Commission study and the work of the G20 study group on green finance; underlines the need to mainstream ESG criteria in all financial legislation;
Amendment 86 #
2017/2066(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Approves of the Commission’'s ambition to incorporate the achievements of the Payment Accounts Directive to make it easier to change financial services providers and products such as mortgage credit and insurance contracts, as well as to terminate financial contracts easily; calls on the Commission to present legislative initiatives specifically targeted at the financial sector to end unjustified geo- blocking in order to facilitate switching by customers to more advantageous retail financial services in other Member States;
Amendment 91 #
2017/2066(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to set up promptly a well-organised and easy-to-use EU comparison portal covering the Europework towards improving the quality and retail financial markets in liability of all financial services comparison websites entiroperating in the EU markety;
Amendment 145 #
2017/2066(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to present an all-inclusive FinTech Action Plan in the framework of its capital markets union (CMU) and digital single market (DSM) strategies, contributing to an effective and well-functioning integrated technology- driven single market of financial services benefiting all European end-users; while ensuring at the same time a level playing field.
Amendment 4 #
2017/2044(BUD)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Questions the proposed increase in support for political reforms in Turkey under the Instrument for Pre-Accession assistance (IPA) in view of the lack of serious engagement by Turkish authorities in this area;calls for the increase in funding to be frozen until the Commission has put measures in place to redirect the additional funds towards supporting civil society;in general, underscores the need to step up investment in direct support to civil society and refugees in Turkey as well as to people-to people exchange programmes, such as Erasmus + for students, academics and journalists;
Amendment 11 #
2017/2044(BUD)
Draft opinion
Paragraph 4
Paragraph 4
4. Underlines the strategic importance of both the Southern and Eastern neighbourhood for the Union and demands that the proposed decrease of resources for the European Neighbourhood Instrument (ENI) is avoided; once again underscores the importance of continuing to support Tunisia as a potential example of democratic transition in the region; considers it essential to maintain the Union's pivotal role in supporting the Middle East Peace Process as well as the Palestinian Authority and UNRWA in the light of recent worrying developments; calls for increased support to accompany Libya's transition towards an inclusive democracy and for all possible measures to be taken to ensure the respect of human rights in the country;
Amendment 16 #
2017/2044(BUD)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the inclusion of adequate resources in the 2018 budget to support the European Supervisory Authorities (ESAs); underlines that the role of the ESAs is essential in fostering the consistent application of Union law and better coordination between national authorities, and in ensuring financial stability, better integrated financial markets and consumer protection; emphasises that the ESAs must stick strictly to the tasks assigned to them by the European Parliament and the Council and must not seek to broaden their mandate beyond those assignments;
Amendment 21 #
2017/2044(BUD)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Welcomes the steps taken as a result of the last budgetary negotiations to allow for increased parliamentary scrutiny of activities falling under the Union's Trust Funds and the Turkey Refugee Facility;recalls that such ad hoc instruments should only be resorted to if the requirements in terms of Union added value and additionality are met;reiterates its call for Member States to substantially increase contributions to the Trust Funds and the Turkey Refugee Facility;
Amendment 22 #
2017/2044(BUD)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Recalls the importance of investing in the visibility of the Union's external action in order to strengthen the impact of funding in that field and allow for ambitions on public diplomacy to be delivered under the Global Strategy;calls for further stepping up funding for strategic communication in view of the growing disinformation challenge emanating from third states and non-state actors targeting Union interests;
Amendment 26 #
2017/2044(BUD)
Draft opinion
Paragraph 4
Paragraph 4
4. Emphasises that the ESAs should ensure that the IT-systems used are as efficient, secure, and cost-effective as possible;; therefore, in order to make further efficiency gains, calls for a common administrative organisation, consisting of a common IT department, and a common HR department.
Amendment 29 #
2017/2044(BUD)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Welcomes the new External Investment Plan to increase investment in Africa and in the EU neighbourhood;underscores the need to ensure that the focus on encouraging private sector investment does not divert funding from long-term priorities in those regions, including the achievement of the Sustainable Development Goals;
Amendment 30 #
2017/2044(BUD)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Calls for an increased funding for Asian and Latin America countries that are key partners in order to jointly address global challenges;
Amendment 30 #
2017/2044(BUD)
Draft opinion
Paragraph 5
Paragraph 5
5. Reiterates that the financing of the ESAs should be reviewed; calls on the Commission to examine the possibility ofcome forward with a proposal introducing calibrated fees for market participants partly replacing the contributions of national competent authorities;
Amendment 31 #
2017/2044(BUD)
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Underlines once again the importance of the European Instrument for Democracy and Human Rights, including its support for election observation, stressing that respect of human rights, democracy and the rule of law are key for stability and prosperity in the world;welcomes the increase in funding of that Instrument, which should be further reinforced;
Amendment 32 #
2017/2044(BUD)
Draft opinion
Paragraph 7
Paragraph 7
7. Reiterates its request for the budget line for the EU Special Representatives to be transferred in a budget neutral manner from the CFSP budget to the EEAS in order to strengthen the coherence of the Union’s external action.
Amendment 39 #
2017/2044(BUD)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 49 #
2017/2044(BUD)
Draft opinion
Paragraph 7
Paragraph 7
7. Points out that considerable efficiency gains cshould be achieved by merging EBA with at least one of the two other ESAs and calls upon the Commission to come forward with other measures to achieve efficiency gains.
Amendment 21 #
2017/2026(INI)
Motion for a resolution
Recital B
Recital B
B. whereas ASEAN has emerged as one of the world’s most dynamic and fastest-growing regions, is strategically located, has abundant resources, a goal of increased economic integration and an ambitious Sustainable Development Goals (SDG) agenda, notably on education, and is a strong advocate of multilateralism and the international rule of law; whereas closing the development gap within ASEAN will be vital in pursuing further integration and ensuring security, stability and protection of social, economic and political rights;
Amendment 51 #
2017/2026(INI)
Motion for a resolution
Recital F
Recital F
F. whereas at present centrifugal forces are threatening and at the same time opening up new opportunities for the integration processes in both regions; whereas the EU is struggling with several overlapping crises ranging from the euro to migration and Brexit but is taking significant steps forward on defence integration, and whereas ASEAN, in spite of the goal of fostering ASEAN centrality, saw intra-ASEAN trade decline in 2016 and has been beset with problems, including diverging foreign policy trajectories and spillover effects from domestic problems pertaining to religious relations, social inequalities and human rights;
Amendment 79 #
2017/2026(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights the political value of strong trade and investment relations between ASEAN and the EU and exhorts both partners to strengthen economic relations; highlights that the EU is the top foreign investor in ASEAN; highlights also the opportunities for cooperation on implementing the SDGs; calls for stepping up cooperation to close the development gap that exists within ASEAN; emphasises the pursuit of a high level of EU-ASEAN cooperation in multilateral institutions such as the UN;
Amendment 93 #
2017/2026(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, as the UK has over the years played an important and valuable role in fostering EU-ASEAN bonds, there will be a need for the EU and its Member States to actively reinforce the relations in the light of the new reality of Brexit; calls for stepped up EU engagement with the existing ASEAN-led fora;
Amendment 116 #
2017/2026(INI)
7. Underlines the EU’s particular experience in institution building, the single market, regulatory convergence, conflict and crisis management, maritime security, mediation, humanitarian assistance and disaster relief as well as recent progress on defence integration, and the EU’s willingness to share such experience where useful; highlights the EU-ASEAN Comprehensive Air Transport Agreement (CATA) negotiations and the broader connectivity agenda;
Amendment 147 #
2017/2026(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Is deeply concerned about the erosion of democracy and human rights in certain countries in the region and the restrictions on space for refugees and stateless persons and civil society, particularly for environmental and labour rights activists and media workers; hopes that specific and verifiable targets and measures will be included in the AICHR’s five-year work plan and that human rights violations will be actively monitored, investigated and prosecuted; urges all ASEAN member states to ratify further UN human rights conventions such as the 1951 Refugee Convention and 1954 and 1961 Statelessness Conventions and the Statute of the International Criminal Court (ICC);
Amendment 22 #
2017/2025(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the EU and India, as important economic partners, have been engaged since 2007 in negotiations for an ambitious free trade and investment agreement;
Amendment 41 #
2017/2025(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Considers that enhanced political relations between the two partners could positively contribute to fostering regional and international cooperation in a world that faces multiple challenges, such as security tensions, disrespect for international law, terrorism, poverty and inequalityorganised crime and corruption, poverty and inequality and the effects of climate change;
Amendment 53 #
2017/2025(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Highlights that the partnership between the EU and India has not yet reached its full potential; considers that stronger political engagement is needed on both sides to make the relationship more dynamic and valuable for the challenges the two partners face at regional and international level; underlines that ancalls for stepping up investment in strengthening ties between EU27 and India; underlines the importance of a full assessment of the functioning of the strategic partnership couldto generate ideas about possible ways to advance it;
Amendment 59 #
2017/2025(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the endorsement of the EU-India Agenda for Action-2020, which is a roadmap for intensifying the Strategic Partnership over the next five years; takes positive note of the areas of cooperation re- launched in 2016, such as the fight against terrorism and migrationcounter- terrorism, security, migration and mobility, external action, climate change, energy and water, transfer of technology and culture; underlines the importance of effectively implementing the Agenda with clear steps and deadlines;
Amendment 89 #
2017/2025(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights the importance of interparliamentary structured dialogue for the functioning of the Strategic Partnership; requests thatencourages the Speaker of the Indian Parliament to form an India- Europe Friendship Group made up from parliamentarians of the Lok Sabha and Rajya Sabha, acting as a counterpart for the European Parliament Delegation for Relations with the Republic of India, be formed in the Lok Sabha as soon as possible;
Amendment 101 #
2017/2025(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for the EU, together with the Member States, and India to pursue and strengthen their efforts in promoting effective, rule-based multilateralism at global level; urges the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy and the Council to support reform of the UN Security Council including India's bid for Permanent Membership; encourages them EU and India to coordinate as much as possible their positions and initiatives at UN level on issues where their cooperation could make a difference, but also in other international fora, such as the World Trade Organisation (WTO);
Amendment 107 #
2017/2025(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Emphasises the significant added value of the cooperation between the EU and India in supporting democratic processes in Asia, in countries such as Myanmar, Sri Lanka or the Maldivesglobally; underlines, moreover, the importance of the EU and India coordinating their humanitarian aid and development policies in the region,particularly with regard to Asia and Africa in view of the high level of development activity undertaken by both sides in these regions, and in order to positively contribute to the political, economic and social processes in the countries concerned; calls for stepping up dialogue to this effect;
Amendment 123 #
2017/2025(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for renewed efforts of rapprochement and restoration of good neighbourly relations between India and Pakistan, and for working, including though various regional cooperation fora,recalls that Jammu and Kashmir is a sovereign issue under the Indian constitution that has to be resolved bilaterally and calls for working towards the establishment of durable peace and cooperation, which would positively contribute to the security of the region; stresses the utmost importance of combating terrorism, in all its form and manifestations;
Amendment 128 #
2017/2025(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recommends further cooperation on universal disarmament, non- proliferation of weapons of mass destruction and nuclear security, objectives that both the EU and India are committed to; in this context, calls on all Member States to support India's bid to accede to export control regimes such as the Nuclear Suppliers Group, the Missile Technology Control Regime, the Wassenaar Arrangement and the Australia Group;
Amendment 138 #
2017/2025(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Takes positive note of the support expressed at the 13th EU-India Summit by both sides for full implementation of the Minsk Agreement by all parties regarding the conflict in Eastern Ukraine; recalls that the EU has strongly condemned Russia’s aggressive actions and has a non- recognition policy of the illegal annexation of Crimea and Sevastopol; hopes that, through dialogue, the EU and India could further align their positions;
Amendment 142 #
2017/2025(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Encourages the EU and India to further exchange views, both during summits and during their regular foreign affairs and security consultations, on the situation in the Middle East and on areas of possible cooperation which could improve the stabilisation of the region, including through measures at international level; draws attention, in particular, to the importance of cooperation for ensuring a lasting political solution in Syria under the existing UN-agreed framework in line with the Geneva Communique of 30 June 2012 and for supporting post-agreement reconstruction, once a credible political transition is underway;
Amendment 147 #
2017/2025(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Stresses the significant mutual benefits the EU and India could draw from intensifying their cooperation in areas such as maritime security, cyber security and data protection, as well as migration and mobility; recommends, in the area of maritime security, developingcalls for steps to facilitate mobility of Indian professionals, students and researchers towards the EU to be taken; calls for granting data-secure status to India to facilitate cooperation in the field of IT; notes that the EU and India are natural partners in the area of maritime security where they have vital shared interests, notably with regard to counter-piracy as well as preserving peace and stability and securing the Sea Line of Communication in the South China Sea and the Indian Ocean; recommends therefore, developing joint standard operating procedures in the area of maritime security as well as a common understanding of the UN Convention on the Law of the Sea, and identifying the most appropriate joint measures for cooperating within its framework;
Amendment 166 #
2017/2025(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Welcomes commitments of the Indian government towards improving women's rights and encourages Indian authorities to take further steps to tackle gender based violence and promote gender equality; calls for improving the rights of LGBTIQ and repealing section 377 of the Indian Penal Code;
Amendment 177 #
2017/2025(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Underlines that freedom of expression and association arestands the need to take measures to increase transparency of, and integral part of a democratic society; draws attention, in this context, to the limitations to the freedom of association and expression under the current Indian law on foreign participation in the funding of NGOsroduce limitations to, activities funded by foreign actors that may pose a risk to peace and stability, including proselytization, or to internal security; recognizes the rationale underpinning the adoption of the law on foreign participation in the funding of NGOs in this context; at the same time recalls that freedom of expression and association are an integral part of a democratic society;
Amendment 186 #
2017/2025(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Acknowledges the significant efforts made by the Indian authorities with a view to combating all forms of discrimination, including caste-based; notes with concern, however, that caste- based discrimination continues to be a source of abuse, and encourages India’s authorities, therefore, to strengthen their efforts to eradicate this violation of human rights; encourages India, furthermore, to ensure full protection of minorities, in particular religious and ethnic ones and underscores the importance of promoting tolerance for diversity in preventing intercommunal violence;
Amendment 48 #
2017/0810(COD)
Proposal for a decision
Article 2 – paragraph 1
Article 2 – paragraph 1
Bank This decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.’day of the end of UK membership.
Amendment 233 #
2017/0359(COD)
Proposal for a regulation
Article 51 – title
Article 51 – title
Amendment 234 #
2017/0359(COD)
Proposal for a regulation
Article 51 – paragraph 1 – introductory part
Article 51 – paragraph 1 – introductory part
Investment firms shall ensure that their remuneration policies and practices are gender neutral by ensuring that the same or similar type of jobs will be equally remunerated regardless of gender. They will disclose the following information regarding their remuneration policy and practices for those categories of staff whose professional activities have a material impact on investment firm's risk profile, in accordance with Article 45;
Amendment 22 #
2017/0358(COD)
Proposal for a directive
Recital 20
Recital 20
(20) To align remuneration with the risk profile of investment firms and to guarantee a level-playing field, investment firms should be subject to clear principles on corporate governance arrangements and rules on remuneration that are gender neutral and that take into account the differences between credit institutions and investment firms. Small and non- interconnected investment firms should however be exempted from those rules because the provisions on remuneration and corporate governance under Directive 2014/65/EU are sufficiently comprehensive for those types of firms.
Amendment 86 #
2017/0358(COD)
Proposal for a directive
Article 28 – paragraph 1 – point a
Article 28 – paragraph 1 – point a
(a) the remuneration policy is clear and documented, documented and is gender neutral: same or similar type of jobs will be equally remunerated regardless of gender;
Amendment 102 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 1 – introductory part
Article 29 – paragraph 1 – introductory part
Member States shall ensure that where an investment firm benefits from extraordinary public financial support as defined to in Article 2(1)(28) of Directive 2014/59/EU, the following requirements apply:it does not pay any variable remuneration.
Amendment 104 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 1 – point a
Article 29 – paragraph 1 – point a
Amendment 106 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 1 – point b
Article 29 – paragraph 1 – point b
Amendment 108 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 1 – point c
Article 29 – paragraph 1 – point c
Amendment 110 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 1 – point c
Article 29 – paragraph 1 – point c
(c) the investment firm shall only pay variable remuneration to members of the management body of the investment firm where such remuneration has been approved by the competent authority and when the extraordinary public financial support comes to an end.
Amendment 111 #
2017/0358(COD)
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
Amendment 116 #
2017/0358(COD)
Proposal for a directive
Article 30 – paragraph 1 – point a
Article 30 – paragraph 1 – point a
(a) where variable remuneration is performance related, the total amount of variable remuneration shall be based on a combination of the assessment of the performance of the individual, regardless of the gender, of the business unit concerned and of the overall results of the investment firm;
Amendment 135 #
2017/0358(COD)
Proposal for a directive
Article 31 – paragraph 3
Article 31 – paragraph 3
3. When preparing the decisions referred to in paragraph 2, the remuneration committee shall take into account the public interest and the long- term interests of shareholders, investors and other stakeholders in the investment firm and ensure that the remuneration policy decisions are gender neutral.
Amendment 138 #
2017/0358(COD)
Proposal for a directive
Article 32 – paragraph 3
Article 32 – paragraph 3
3. EBA, in consultation with ESMA, shall issue guidelines on the application of sound and gender neutral remuneration policies. Those guidelines shall take into account at least the requirements referred to in Articles 28 to 31 and principles on sound remuneration policies set out in Commission Recommendation 2009/384/EC43. _________________ 43 Commission Recommendation 2009/384/EC of 30 April 2009 on remuneration policies in the financial services sector (OJ L 120, 15.5.2009, p. 22).
Amendment 142 #
2017/0358(COD)
Proposal for a directive
Article 33 – paragraph 1 – point b
Article 33 – paragraph 1 – point b
(b) the geographical location as well as the sustainable nature of an investment firm’s exposures;
Amendment 144 #
2017/0358(COD)
Proposal for a directive
Article 33 – paragraph 1 – point f
Article 33 – paragraph 1 – point f
(f) governance arrangements and gender policy of investment firms and the ability of members of the management body to perform their duties.
Amendment 166 #
2017/0358(COD)
Proposal for a directive
Article 37 – paragraph 1 – point e
Article 37 – paragraph 1 – point e
(e) the investment firm repeatedly fails to establish or maintain an adequate level of additional capital as set out in Article 38(1).
Amendment 10 #
2017/0326(COD)
Draft legislative resolution
Paragraph 5
Paragraph 5
5. Deplores the lack of transparency and accountability, in the voting procedure the Council has undertaken on the 20 November 2017, leaving final decisions to a draw; points to the fact that the agencies are currently partly funded by the Union budget and that also relocation costs may partly occur at the expense of the Union budget which are subject to ongoing negotiations between the European Union and the United Kingdom; highlights therefore the need for democratic accountability as well as a transparent and understandable decision-making in the interest of the European public; Requests further details on the weighting of the criteria applied by the Council in the selection procedure for the location of EBA;, as well as a report to the European Parliament with a detailed overview of the score of the different candidate cities on the different criteria.
Amendment 16 #
2017/0326(COD)
Draft legislative resolution
Paragraph 7
Paragraph 7
7. Highlights the different tasks and areas of competence of the European Supervisory Authorities EBA, EIOPA and ESMA; recalls the deliberate decision of the co-legislators to set up three authorities in three different Member States with separate tasks and fields of competence, one for banking, one for securities and one for insurance and pensions; regrets that the principle of having a location in three different Member States has been given up; demands that this separation remains to be reflected in the regulatory and supervisory competences and the governance, the main organisation and main financing of their activities independent of their location, while allowing for sharing, where applicable, administrative support services and facility management services which are not related to core activities, requests the Commission and Council to safeguard the current set-up of the three authorities during and after the relocation of EBA; demands a regular update from the Commission in this regard, in particular during the ongoing legislative procedure on the review of the European Supervisory authorities COM(2017)536; recalls that Article 7 of Regulation (EU) No 1093/2010 is part of the legislative procedure under review of the European Supervisory Authorities COM(2017)536;
Amendment 453 #
2017/0230(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Regulation (EU) No 1093/2010
Article 16a (new)
Article 16a (new)
(7a) The following Article 16a is inserted: “Article 16a On all issues related to its area of competence and upon a request from the European Parliament, the Council or the Commission, the Authority shall provide opinions to the European Parliament, the Council and the Commission. These opinions shall be made public.
Amendment 548 #
2017/0230(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) 1093/2010
Article 31a
Article 31a
Amendment 603 #
2017/0230(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b
Article 1 – paragraph 1 – point 17 – point b
The Authority shall monitor regulatory and supervisory developments and enforcement practices and relevant market developments in third countries for which equivalence decisions have been adopted by the Commission pursuant to the acts referred to in Article 1(2) in order to verify whether the criteria, on the basis of which those decisions have been taken and any conditions set out therein, are still fulfilled. The Authority shall submit a confidential report on its findings to the Commission on an annual basis.
Amendment 612 #
2017/0230(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b
Article 1 – paragraph 1 – point 17 – point b
Regulation (EU) No 1093/2010
Article 33 – paragraph 2b – subparagraph 1
Article 33 – paragraph 2b – subparagraph 1
Where the Authority identifies developments in relation to the regulation, supervision or the enforcement practices in the third countries referred to in paragraph 2a that may impact the financial stability of the Union or of one or more of its Member States, market integrity or investor protection or the functioning of the internal market, it shall inform the Commission on a confidential basis and without delay.
Amendment 803 #
2017/0230(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 35 – point c
Article 1 – paragraph 1 – point 35 – point c
Regulation (EU) No 1093/2010
Article 48 – paragraph 4 – subparagraph 2
Article 48 – paragraph 4 – subparagraph 2
The Council, on a proposal from the Commission and taking into account the evaluation, may extend the term of office of the Chairpersonhairsperson's term of office shall be 4 years at which point it can be renewable for a further 4 years term once.;
Amendment 930 #
2017/0230(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a
Article 31 a
Amendment 1032 #
2017/0230(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Article 3 – paragraph 1 – point 15
Regulation (EU) 1095/2010
Article 31 a (new)
Article 31 a (new)
Amendment 1102 #
2017/0230(COD)
Proposal for a regulation
Article 4
Article 4
Proposal for a Regulation
Article 4
Article 4
Amendment 1106 #
Amendment 1140 #
Amendment 1167 #
Amendment 204 #
2017/0225(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point b
Article 1 – paragraph 1 – point b
(b) lays down a framework for the establishment of European cybersecurity certification schemes for the purpose of ensuring an adequate level of cybersecurity of ICT products, processes and services in the Union. Such framework shall apply without prejudice to specific provisions regarding voluntary or mandatory certification in other Union acts.
Amendment 228 #
2017/0225(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
(10) ‘European cybersecurity certificate’ means a document issued by a conformity assessment body attesting that a given ICT product, process or service fulfils the specific requirements laid down in a European cybersecurity certification scheme;
Amendment 241 #
2017/0225(COD)
Proposal for a regulation
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
2 a. The Agency shall assist Member States and Union institutions in establishing policies and practices for the responsible management and coordinated disclosure of vulnerabilities in ICT products and services that are not publicly known.
Amendment 271 #
2017/0225(COD)
Proposal for a regulation
Article 4 – paragraph 7 a (new)
Article 4 – paragraph 7 a (new)
7 a. The Agency shall assist and advise Member States and Union institutions in establishing policies and practices for the responsible management and coordinated disclosure of vulnerabilities in ICT products and services that are not publicly known, inter alia, by establishing government vulnerability disclosure review processes and coordinated vulnerability disclosure policies.
Amendment 273 #
2017/0225(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 2
Article 5 – paragraph 1 – point 2
2. assisting Member States to implement consistently the Union policy and law regarding cybersecurity notably in relation to Directive (EU) 2016/1148, including by means of opinions, guidelines, advice and best practices on topics such as secure software and systems development, risk management, incident reporting and information sharing, technical and organisational measures, in particular the establishment of coordinated vulnerability disclosure programmes, as well as facilitating the exchange of best practices between competent authorities in this regard;
Amendment 277 #
2017/0225(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 2 a (new)
Article 5 – paragraph 1 – point 2 a (new)
2 a. proposing a blueprint which establishes the roles, responsibilities and legal obligations of vendors, manufacturers, CERTs and CSIRTs, and which further clarifies the legal rights and protections of information security researchers in the context of a coordinated vulnerability disclosure programme, in particular in cases of multi-party vulnerability disclosures that affect multiple vulnerability finders and vendors in different Member States
Amendment 286 #
2017/0225(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4 – point 2 a (new)
Article 5 – paragraph 1 – point 4 – point 2 a (new)
(2 a) the development and promotion of policies that would sustain the general availability or integrity of the public core of the open internet, which provide the essential functionality to the Internet as a whole and which underpin its normal operation, including, but not limited to, the security and stability of key protocols (in particular DNS, BGP, and IPv6), the operation of the Domain Name System (including those of all Top Level Domains), and the operation of the Root Zone
Amendment 288 #
2017/0225(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point a a (new)
Article 6 – paragraph 1 – point a a (new)
(a a) Members States and Union institutions in establishing and implementing coordinated vulnerability disclosure policies and government vulnerability disclosure review processes, whose practices and determinations should be transparent and subject to independent oversight.
Amendment 306 #
2017/0225(COD)
Proposal for a regulation
Article 7 – paragraph 7 a (new)
Article 7 – paragraph 7 a (new)
7 a. The Agency shall prepare, together with the EEAS, a regular global Cybersecurity Situational Report on incidents and threats towards individuals, including towards vulnerable users outside the EU such as lawyers, journalists, or human rights defenders, in order to help the Union institutions respond to external needs and uphold its human rights responsibilities abroad
Amendment 311 #
2017/0225(COD)
Proposal for a regulation
Article 7 – paragraph 8 – point e a (new)
Article 7 – paragraph 8 – point e a (new)
(e a) assisting and advising Member States on establishing and implementing coordinated vulnerability disclosure policies and government vulnerability disclosure review processes.
Amendment 344 #
2017/0225(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point c a (new)
Article 8 – paragraph 1 – point c a (new)
(c a) support and promote the development and implementation of coordinated vulnerability disclosure policies and government vulnerability disclosure review processes
Amendment 511 #
2017/0225(COD)
Proposal for a regulation
Article 46 – paragraph 2 a (new)
Article 46 – paragraph 2 a (new)
2a. The methodology to distinguish between the different assurance levels should be guided by a test which assesses the resistance of the security functionalities against attackers that have significant to unlimited resources.
Amendment 534 #
2017/0225(COD)
Proposal for a regulation
Article 47 – paragraph 1 – point j
Article 47 – paragraph 1 – point j
(j) rules concerning how previously undetected cybersecurity vulnerabilities in ICT products and services are to be reported and dealt with; requiring vulnerabilities in ICT products and services that are not publicly known to be reported expeditiously by the appropriate authorities to relevant vendors and manufacturers using a coordinated vulnerability disclosure process.
Amendment 540 #
2017/0225(COD)
Proposal for a regulation
Article 47 – paragraph 1 – point m a (new)
Article 47 – paragraph 1 – point m a (new)
(ma) rules concerning how and when Member States must inform each other when they acquire knowledge of a vulnerability that is not publicly known in an ICT product or service that is certified under this certification scheme.
Amendment 183 #
2017/0143(COD)
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Priority should be given to further developing, strengthening and reforming the first (public) and second (occupational) pillars of the national pensions systems. Both pillars will remain paramount for the sustainability of national schemes as personal pension products will just represent an additional source of income and will not aim at replacing them. It is in the first place a political choice whether the share of first pillar pay-as-you-go public pensions as part of the placement rate will decline.
Amendment 348 #
2017/0143(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 3 – point a
Article 2 – paragraph 1 – point 3 – point a
(a) a retail client means a client who is not a professional client as defined in point (11) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council41 ; __________________ 41 Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173 12.6.2014, p. 349).
Amendment 374 #
2017/0143(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
(21) “capital” means aggregate capital contributions and uncalled committed capital, calculated on the basis of amounts investible afterbefore deduction of all fees, charges and expenses that are directly or indirectly borne by investors;
Amendment 389 #
2017/0143(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point c – point ii
Article 3 – paragraph 1 – point c – point ii
(ii) the provisions of Member States’ laws which would apply to a comparable personal pension product manufactured and distributed in accordance with the law of the Member State in which the manufacturer has its registered officeof the PEPP saver.
Amendment 416 #
2017/0143(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point f
Article 5 – paragraph 1 – point f
Amendment 425 #
2017/0143(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point d
Article 5 – paragraph 2 – point d
(d) information on arrangements regarding portfolio and risk management and administration with regard to the PEPP; including the role played by environmental, social and governance factors in the investment process as well as the long term impact and the externalities of the investment decisions. Furthermore information ensuring that the PEPP provider does not invest in nuclear weapon producers.
Amendment 610 #
2017/0143(COD)
Proposal for a regulation
Article 23 – paragraph 5
Article 23 – paragraph 5
5. Potential PEPP savers shall also be provided with information on the past performance of investments related to the PEPP scheme covering a minimum of fivetwenty years, or, where the scheme has been operating for fewer than fivetwenty years, covering all the years that the scheme has been operating, as well as with information on the structure of costs borne by PEPP savers and PEPP beneficiaries.
Amendment 277 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point -1 (new)
Article 2 – paragraph 1 – point -1 (new)
Regulation (EU) No 648/2012
Article 2 – paragraph 1 – point 1 a (new)
Article 2 – paragraph 1 – point 1 a (new)
(-1) In Article 2, the following point (1a) is inserted: “(1a) ‘CCP service’ means the CCP activities or services relating to a specific class of financial instruments as set out by point 15 of Article 4 of Directive 2014/65/EU or a specific class of derivatives as defined by point 6;”
Amendment 424 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point a
Article 2 – paragraph 1 – point 9 – point a
Regulation (EU) No 648/2012
Article 25 – paragraph 2 – point e
Article 25 – paragraph 2 – point e
(e) the CCP or a CCP service provided by that CCP has been determined as not systemically important or not likely to become systemically important (Tier 1 CCP) in accordance with paragraph 2a. ESMA may recognise a third country CCP either in whole or may limit the recognition to a particular service, activity or class of financial instrument.
Amendment 429 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 a – subparagraph 1 – introductory part
Article 25 – paragraph 2 a – subparagraph 1 – introductory part
ESMA shall determine whether a CPafter consulting the members of the ESCB determine whether a CCP or a CCP service provided by that CCP is systemically important or likely to become systemically important for the financial stability of the Union or for one or more of its Member States (Tier 2 CCP) by taking into account all of the following criteria:
Amendment 431 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 a – subparagraph 1 – point a
Article 25 – paragraph 2 a – subparagraph 1 – point a
(a) the nature, size and complexity of the CCP's business or a CCP service, including the value in aggregate terms and in each Union currency of transactions cleared by the CCP or a CCP service, or the aggregate exposure of the CCP or a CCP service engaged in clearing activities to its counterparties;
Amendment 439 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 a – subparagraph 1 – point b
Article 25 – paragraph 2 a – subparagraph 1 – point b
(b) the effect that the failure of or a disruption to the CCP or a CCP service would have on financial markets, financial institutions, or the broader financial system, or on the financial stability of the Union or for one or more of its Member States;
Amendment 445 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 a – subparagraph 1 – point c
Article 25 – paragraph 2 a – subparagraph 1 – point c
(c) the CCP or a CCP service's clearing membership structure;
Amendment 448 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 a – subparagraph 1 – point d
Article 25 – paragraph 2 a – subparagraph 1 – point d
(d) the CCP's or a CCP service's relationship, interdependencies, or other interactions with other financial market infrastructures, other financial institutions and the broader financial system. In determining the systemic importance for the Union of specific third country CCP activities, ESMA shall examine each CCP service, activity or class of financial instruments provided to clearing members or trading venues established in the Union. However, when a third country CCP does not operate risk management standards at service level, ESMA shall assess systemic importance at the level of the entire CCP. In this case, ESMA shall recommend that the European Commission adopts an implementing act confirming that the CCP or some of the services provided by that CCP are systemically important or likely to become systemically important for the financial stability of the Union or for one or more of its Member States (Tier2 CCP).
Amendment 478 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 648/2012
Article 25 – paragraph 2 c – subparagraph 1
Article 25 – paragraph 2 c – subparagraph 1
ESMA, in agreement with the relevant central banks of issue and commensurate with the degafter obtaining consent of the central banks of issue of all Union currencies of the financial instruments cleareed of systemic importance ofr to be cleared by theat CCP in accordance with paragraph 2a,and after consulting the ESRB may conclude that a CCP or the CCP service is of such substantialpecific systemic importance for the Union that compliance with the conditions set out in paragraph 2b and cooperation arrangements of Article 25(7a) does not sufficiently ensure the financial stability of the Union or of one or more of its Member States and should not therefore be recogniszed. In such a case, ESMA shallmay recommend that the Commission adopt an implementing act confirming that that CCP should not be recognised in accordance with paragraph 2b. denying the CCP or CCP service from being recognized in accordance with paragraph 2b. ESMA recommendation shall be based on a quantitative analysis in particular of EU firms portfolio structure. It should include all of the following elements: (a) The financial stability risks linked to all the criteria of article points(a) to (d) of Article 25 that cannot be addressed with the application of Article 25(2b) points (a) to (e); (b) The specific relevance to the Union of the financial stability risks represented by the products cleared, (c) the characteristics of the products cleared by the CCP, or the CCP service in particular the liquidity needs associated with such services and the materiality of liquidity and physical settlement requirements that need to be managed in case of stress event and could lead, in case of severe liquidity stress to access to central bank liquidity needs, (d) the substitutability of the clearing services provided by the CCP; (e) the potential consequences of including the outstanding cleared contracts within the scope of the implementing act; (f) the potential consequences, in terms of costs, of the denial of recognition on the Union clearing members, their clients, linked and interoperable FMIs and Union market as a whole, in particular as regards the impact of the decision on the competitiveness of Union clients and members and clients and members from other jurisdictions; (g) the potential impact consequences of denial of recognition in the Union for the financial stability of the Union or of one or more of its Member States;
Amendment 485 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Article 2 – paragraph 1 – point 9 – point b
After submission of the recommendation referred to in the first subparagraph, the Commission may adopt an implementing act declaring that that CCP shall not be recognised pursuant to paragraph 2b and that it may only provide clearing services in the Union after it has been granted authorisation in accordance withspecifying that following the transitional period specified by the Commission in accordance with point (b) some or all services provided by that CCP shall not be recognised. The implementing act shall be accompanied by an impact assessment explaining why the specific systemic relevance of some or all services provided by that CCP cannot be addressed by the application of Article 25(2b) points (a) to (e)as well as the potential consequences for the competiveness and the financial stability of the Union or of one or more of its Member States. That implementing act should specify: (a) an appropriate adaptation period for the CCP, its clearing members and their clients, the length of which should be based on a quantitative assessment of EU firms portfolio structure; (b) the conditions under which the CCP or the relevant services may be recognised temporarily during the adaptation period referred to in point (a); (c) the need to include the outstanding cleared transactions within the scope of the implementing act based on a quantitative assessment of EU firms portfolio structure; (d) any measures that shall be taken during the adaptation period, in order to limit the potential costs to clearing members and their clients, in particular those established in the Union. This implementing act shall be adopted in accordance with the examination procedure referred to in Article 1486(2).
Amendment 500 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point c
Article 2 – paragraph 1 – point 9 – point c
Regulation (EU) No 648/2012
Article 25 – paragraph 5
Article 25 – paragraph 5
5. ESMA shall, after consulting the authorities and entities referred to in paragraph 3, review the recognition of the CCP established in a third country where that CCP has extended the range of its activities and services in the Union and in any case at least every two years. That review shall be conducted in accordance with paragraphs 2, 3 and 4. ESMA may withdraw the recognition of that CCP where the conditions set out in paragraph 2 are no longer met and in the same circumstances as those described in Article 20.
Amendment 506 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point f
Article 2 – paragraph 1 – point 9 – point f
Regulation (EU) No 648/2012
Article 25 – paragraph 7 – first sentence
Article 25 – paragraph 7 – first sentence
Amendment 508 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point f a (new)
Article 2 – paragraph 1 – point 9 – point f a (new)
Regulation (EU) No 648/2012
Article 25 – paragraph 7
Article 25 – paragraph 7
(fa) paragraph 7 is replaced by the following: 7. ESMA shall establish effective cooperation arrangements with the relevant competent authorities of third countries whose legal and supervisory frameworks have been recognised as equivalent to this Regulation in accordance with paragraph 6. Such arrangements shall specify at least: (a) the mechanism for the exchange of informationCCPs to be recognized pursuant par 2a covering the following: (-a) the mechanism for the coordination of supervisory activities, including the exchanges of information and reporting to be made in case of substantial changes to risk models and parameters, extension of CCP activities and services, changes in the client account structure and in the use of payment systems that substantially affect the Union; (-aa) procedures for the coordination of supervisory activities between ESMA and the third country competent authorities of the third countries concernedy in case of a default of a clearing member established in the Union or the default of a clearing member with clients or indirect clients established in the Union including for the liquidation of assets; (a) exchange of information between ESMA and the third country competent authority, including access to all information requested by ESMA regarding CCPs authoriszed in that third countriesy; (b) the mechanism for prompt notification to ESMA where a third- country competent authority deems a third country CCP it is supervisinges to be in breach of the conditions of its authorisation or of other law to which it is subject; (c) the mechanism for prompt notification to ESMA by a third- country competent authority where a CCP it is supervisinges has been granted the right to provide clearing services to clearing members or clients established in the Union; (d) the procedures concerning the coordination of supervisory activities including, where appropriate, on-site inspections; (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32012R0648&from=EN)(da) the consultation of ESMA and relevant Member States’ resolution authorities designated according to [Article 3 of Regulation COM(2016) 856 final] in drawing up the resolution plan of the third country CCP that would substantially affect the Union; Or. en
Amendment 509 #
2017/0136(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point g
Article 2 – paragraph 1 – point 9 – point g
Regulation (EU) No 648/2012
Article 25 – paragraph 7 – point e
Article 25 – paragraph 7 – point e
Amendment 94 #
2017/0125(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) As the Programme aims at enhancing the competitiveness of the Union's defence industry, only entities established in the Union and effectively controlled by Member States or their nationals or subsidiaries of third country undertakings located in the Union where the Member States participating in the Programme provide that undertaking with security clearances and the subsidiary contributes to the Union competitiveness in Defence should be eligible for support. Additionally, in order to ensure the protection of essential security interests of the Union and its Member States, the infrastructure, facilities, assets and resources used by the beneficiaries and subcontractors in actions funded under the Programme, shall not be located on the territory of non-Member States.
Amendment 240 #
2017/0125(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Beneficiaries shall be undertakings established in the Union, in which Member States and/or nationals of Member States own more than 50% of the undertak. The infrastructure, facilities, assets and resources used by the beneficiaries, including subcontractors and other third parties, ing and effectively control it within the meaning of Article 6(3), whether directly or indirectly through one or more intermediate undertakings. In addition, allctions funded under the Programme shall not be located on the territory of non-Member States during the entire duration of the action. The use of those infrastructures, facilities, assets and resources used by the participants, including subshall not be subject to control or restrictions by third countractors and other third parties, in actions funded under the Programme shall not be located on the territory of non-Member States during the entire duration of the actionies or third- country entities. The beneficiaries’ ultimate controlling company may be headquartered outside of the Union provided that there are sufficient safeguards in place to protect the Union’s IPR and security interests thereby providing effective control within the meaning of Article 6(3).
Amendment 250 #
2017/0125(COD)
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1 a. Where an undertaking’s ultimate controlling company is located outside of the Union, it shall only be eligible for funding provided the following cumulative conditions are met as determined by the Ministries of Defence of each Member State that participates in the action: 1.The undertaking offers products, assets or technologies of which there is no Union equivalent that may be used as an alternative; 2.The use of that undertaking does not contravene the security and defence interests of the Union; 3.The Ministry of Defence of the Member State where the undertaking is located has provided that undertaking with security clearance and demands that ‘Chinese walls’ exist between the subsidiary and the ultimate controlling company that prevent essential know-how, technologies from being moved to the ultimate controlling company; 4.Any ownership of know-how and IPR that arises through use of the Programme does not leave the Union; 5.The ultimate controlling company, nor the third country where it is located, does not control or restrict the use of know- how, technologies and IPR arising through use of the Programme.
Amendment 253 #
2017/0090(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point b a (new)
Article 1 – paragraph 1 – point 19 – point b a (new)
Regulation (EU) No 648/2012
Article 85 – paragraph 2 a (new)
Article 85 – paragraph 2 a (new)
(ba) paragraph 2a is inserted: 2 a. ESMA shall, by [date of entry into force + 12 months], submit a report to the Commission which assesses whether the list of financial instruments that are considered highly liquid with minimal credit and market risk, in accordance with Article 47, could be extended and whether this list could include Money Market Funds as defined in Regulation (EU) 2017/1131.
Amendment 137 #
2017/0063(COD)
Proposal for a directive
Article 4 – paragraph 2 – point e a (new)
Article 4 – paragraph 2 – point e a (new)
(ea) National administrative competition authorities have the power to hire, within the limits of their budget and without prejudice to the applicable law on staff rules and contracts, the staff they need, and the power to use their budget without any prior authorisation other than a verification of the availability of a sufficient budget.
Amendment 155 #
2017/0063(COD)
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
Amendment 165 #
2017/0063(COD)
Proposal for a directive
Article 8 – paragraph 1
Article 8 – paragraph 1
Member States shall ensure that national administrative competition authorities may by decision require undertakings and associations of undertakings to provide all necessary information for the application of Articles 101 and 102 TFEU within a specified time limitand reasonable time limit and insofar as the addressee of the decision does not as a result incriminate itself in respect of an infringement of Articles 101 and 102TFEU.. This obligation shall cover information which is accessible to the undertaking and association of undertakings.
Amendment 184 #
2017/0063(COD)
Proposal for a directive
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
Member States shall ensure that national competition authorities have at their disposal effective powers to monitor the implementation of commitment decisions.
Amendment 192 #
2017/0063(COD)
Proposal for a directive
Article 12 – paragraph 3
Article 12 – paragraph 3
3. In order to reduce the risk that fines can be avoided by corporate re- structuring, Member States shall ensure that the notion of undertaking is applied for the purpose of imposing fines on parent companies and legal and economic successors of undertakings.
Amendment 199 #
2017/0063(COD)
Proposal for a directive
Article 13 – paragraph 2 – subparagraph 2
Article 13 – paragraph 2 – subparagraph 2
Where necessary to ensure the full payment of the fine, Member States shall ensure that national competition authorities are entitled to require the payment of the outstanding amount of the fine by any of the undertakings whose representatives were members of the decision-making bodies of the association. To the extent that it is still necessary, national competition authorities shall also be entitled to require the payment of the outstanding amount of the fine by any of the members of the association which were active on the market on which the infringement occurred. However, payment shall not be required from those members of the association that did not implement the infringement and either were not aware of it or have actively distanced themselves from it before the investigation started.
Amendment 147 #
2016/2313(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes satisfactory cooperation on war crimes cases with the International Criminal Tribunal for the former Yugoslavia (ICTY) and encourages more regional cooperation with regard to processing war crimes cases; welcomes the fact that the backlog of domestic war crimes cases is being tackled and that some further progress was achieved in the successful prosecutcommends progress made regarding prosecution of war crimes involving sexual violence and urges BiH authorities to further enhance access to justice for victims of sexual violence, including by making available free legal aid as well as psychosocial and health services; calls for bringing the provisions of war crimes involving sexual violenceBiH criminal law regarding sexual violence into line with international standards and harmonising legislation to ensure the rights to reparation of victims of sexual violence are recognized in a consistent manner; strongly condemns the decision of the RS National Assembly in October 2016 to express appreciation to former leaders of the RS convicted of war crimes; calls, as a matter of urgency, for respect for victims of war crimes and for reconciliation to be promoted;
Amendment 165 #
2016/2313(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes some progress in fighting organised crime; is concerned, however, about the absence of a consistent approach in tackling organised crime owing to the numerous action plans by the various law enforcement agencies at different levels; highlights the need to strengthen the framework for inter-agency cooperation; welcomes joint investigations but calls for more coordinated operations and better exchange of information; calls for enhancing capacities of law enforcement bodies including on counter-terrorism; welcomes the signing of the operational and strategic cooperation agreement with Europol aimed at combating cross-border criminality; expresses concern with regard to the large quantity of unregistered firearms available on the black market in BiH; underscores the importance of tackling arms trafficking and calls for strengthening cooperation between the EU and BiH to this effect;
Amendment 211 #
2016/2313(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Underlines the need for a substantial improvement in the strategic, legal, institutional and policy frameworks on the observance of human rights; calls for the adoption of a countrywide strategy on human rights and non-discrimination; is concerned about continued discrimination against persons with disabilities in the fields of employment, education and access to health care; calls for developing a comprehensive and integrated approach to the social inclusion of Roma including measures to guarantee the rights of Roma to proper political representation; welcomes the fact that some governments and parliaments have begun discussing LGBTI rights and drawing up specific measures for their protection; welcomes changes to the BiH anti-discrimination law extending the listed grounds for discrimination to age, disability, sexual orientation and gender identity;
Amendment 220 #
2016/2313(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for efforts to increase the participation of women in political life and employment, to improve their socio- economic situation and to strengthen women’s rights on the whole; urges BiH authorities to establish a legal framework to provide medical and psychological support to women who fell victim to conflict-related sexual violence;
Amendment 268 #
2016/2313(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Welcomes the slight reduction in unemployment; remains concerned, however, that unemployment continues to be largely of a structural nature and that youth unemployment continues to be high, resulting in very high levels of brain drain; calls on the competent authorities to introduce active labour market policies targeting in particular the youth, women, vulnerable groups and minorities suffering from discrimination including the Roma, and the long-term unemployed as well as reinforcing the capacities of the employment services;
Amendment 102 #
2016/2312(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the adoption of key pieces of anti-corruption legislation, including on the protection of whistle- blowers; is concerned, however, that key anti-corruption institutions continue to be subject to political interference and have limited administrative capacities; stresses the need for a more adequate legal framework for conflicts of interest, regulating lobbying and better interinstitutional cooperation, especially between police and prosecution services, with a view to improving their track record as regards investigation, prosecution and conviction, including in high level cases; in view of the upcoming parliamentary electionunderscores the importance of addressing concerns related to political party financing; calls for the introduction of measures to improve oversight and transparency and guarantee the independence of the Central Election Commission mandated to manage the audits of political party finances, calls for effective oversight of political party financing;
Amendment 115 #
2016/2312(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the continued implementation of the strategy and action plan on the fight against organised crime and intensified international police cooperation; welcomes recent operations against drug plantations; calls also for organised crime networks to be dismantled and for the number of final convictions in organised crime cases to be increased, by enhancing cooperation between police and prosecution services and by strengthening institutional and operational capacities; underscores the importance of tackling trafficking in arms and stepping up cooperation with the EU to this effect; underlines the need to step up efforts to prevent human trafficking, in particular as regards unaccompanied children and child victims of trafficking;
Amendment 120 #
2016/2312(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Notes that the border closures enacted by main transit countries in the Balkan region could result in a significant increase of the importance of Albania as a transit country for refugees and asylum seekers; welcomes statements by Albanian Prime Minister Edi Rama to the effect that refugees and asylum seekers should be treated in line with EU fundamental values; encourages Albania to further improve its legal framework for determining international protection status for refugees; expresses concern regarding the recent rise in cases of human trafficking; commends efforts by the Albanian police to step up information sharing with Frontex and calls for a further strengthening of cooperation between the EU and Albania in order to protect refugees' rights in line with international standards and EU fundamental values;
Amendment 146 #
2016/2312(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Urges the competent authorities to continue improving the climate of inclusion and tolerance for all minorities in the country, including by enhancing the role of the State Committee on Minorities; as regards Roma and Egyptians, calls for continued efforts in improving their access to employment and all public and social services including, education, health, social housing and legal aid; is concerned that, despite improvements, the inclusion of Roma children in the education system remains the lowest in the region;
Amendment 178 #
2016/2312(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes improvements in fiscal consolidation, better scores in doing business, and efforts to fight the informal economy; still notes, however, shortcomings in the rule of law and a cumbersome regulatory environment, which deter investment; expresses concern about reports by the IMF concerning corruption in tax inspections and changes in tax legislation enacted to the benefit of a small group of private stakeholders; urges the competent authorities to take measures for improved enforcement of contracts and better tax collection, and to continue implementing judicial reform with a view to improving the business environment;
Amendment 114 #
2016/2306(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission’s Annual Growth Survey 2017 reaffirming the strategy of a virtuous triangle of investment, structural reforms and responsible public finances; agrees that faster progress on the adoption of reforms and reforms towards a fairer tax system, in line with the country-specific recommendations, is needed to deliver on growth and jobs;
Amendment 130 #
2016/2306(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that growth in 2016 is continuing at a positive moderate pace, surpassing the pre-crisis level; believes, however, that there is no time for complacency, and that this moderate recovery requires relentless efforts if it is to achieve greater resilience in the long run;
Amendment 156 #
2016/2306(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Agrees with the Commission that more affordable access to finance is crucial for businesses to grow, in particular for SME's;
Amendment 173 #
2016/2306(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the financial system and its institutions are crucial for investment and growth in the European economy; stresses that the importance to make courrent financial system is characterised by increased safety and stability;more stable and safer; underlines in this respect the need to tackle urgently the high amount of non performing loans on the banks balance sheet .
Amendment 189 #
2016/2306(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses that a fully functioning Capital Markets Union can, in a longer perspective, provide alternative financing to SMEs, complementing that of the banking sector; highlights however that, to unlock the EU CMU, still important steps need to be taken asap, like tackling the bond/ equity tax bias and the obstacles to cross border insolvency procedures.
Amendment 224 #
2016/2306(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasises that reliable investment requires a regulatory environment that allows for a return on investment; considers that predictable rules, a level playing field and, reduced compliance costs, a fair tax regime as well as a financial stability are crucial factors for attracting investment;.
Amendment 292 #
2016/2306(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Considers that well-functioning, flexible labour markets have proven to be quicker to recover from the economic downturn;
Amendment 346 #
2016/2306(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Agrees that high taxation is a hindrance to investments and jobs; calls for reforms in taxation with a view to tackling the high tax burden on labour in Europe, while at the same time incentivies the fight against tax fraud and tax evasion;
Amendment 391 #
2016/2306(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 412 #
2016/2306(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Notes with concern that, following the assessment of the 2017 Draft Budgetary Plans, eight Member States are considered to be at risk of non-compliance, with some significantly deviating from the required adjustment path and unlikely to be able to contain the risks unless they deliver on the necessary fiscal measures;
Amendment 464 #
2016/2306(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the ongoing review of public spending, and encourages the Member States critically to assess the quality of their budgets in the long run; points out that such a review cannot replace urgent fiscal consolidation needs;
Amendment 478 #
2016/2306(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Highlights the importance of national parliaments debating and feeding in in the country reports and country- specific recommendations;
Amendment 7 #
2016/2269(INI)
Draft opinion
Recital A
Recital A
A. whereas inequality is usually approached merely as a social problem or, worse, as a social consideration, which can be harmful for good economic policy design; whereas although in some economic theories inequality concerns are set against efficiency, we on the contrary would argue that equality policies can helps foster growth and job creation; whereas equality can, under the right conditions, be both a cause and a consequence of good economic performance;
Amendment 21 #
2016/2269(INI)
Draft opinion
Recital B
Recital B
B. whereas more public and private investment are key elements of any policy geared towards reducing inequality;
Amendment 40 #
2016/2269(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Points out that public and private investment creates jobs and that unemployment is obviously one of the main causes of inequality both between the employed and unemployed, but also among workers themselves; notes that it is well known that high levels of unemployment exert downward pressure on wages and working conditions; and leads to general societal losses.
Amendment 53 #
2016/2269(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Argues that more investment in public services is essential to close the qualification dimension of inequality; emphasises that the attainment of higher levels of education for the general population contributes not only to reducing income inequality, but also to fighting social and cultural exclusion; invites the Commission to monitor more closely the impact of these investments undertaken by Member States and private investors in the framework of the EU semester.
Amendment 62 #
2016/2269(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Underlines that modern societies are facing crucial social challenges that involve inequality issues; stresses that dealing with these challenges is both a responsibility for public policy-making and an opportunity for private investors. invites the Commission to monitor more closely how Member States have dealt with these challenges in the framework of the EU semester.
Amendment 4 #
2016/2244(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Considers that the lack of homogeneity in its application across the Member States undermined the effectiveness of Commission Regulation No 330/2010; highlights the growth of e- commerce and its impact on the franchise business model as a significant challenge for the sector.
Amendment 12 #
2016/2244(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Is concerned at the fact that some Member States have introduced legislation on franchising that prevents homogeneity of the market; believes that an approach based on EU competition law enforcement and better implementation of the regulation at national level would improve distribution and, increase market access for other Member States’ businesses; and provide potentially a better deal for end consumers.
Amendment 21 #
2016/2244(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on the Commission to also ensure the recovery of any illegal state aid by means of tax advantages in the area of franchises and to show firmness in the conduct and result of ongoing inquiries, such as the McDonald’s and Starbuck's case; stresses, moreover, that the EU needs to have more stringent legislation on tax rulings, providing also for an effective system and a debt recovery procedure in favour of EU budget own resources; calls on the Commission to rectify any infringement in the area of franchising with the view to ensuring fair competition across the single market;
Amendment 26 #
2016/2244(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Notes that national rules vary greatly from one Member State to another; Stresses that the European Parliament should be actively involved when regulations and directives on franchising are adapted in order to get a more consistent regulatory framework;
Amendment 6 #
2016/2239(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
– Having regard to its resolution of 8 October 2015 on the mass displacement of children in Nigeria as a result of Boko Haram attacks, and of 17 July 2014 on Nigeria – recent attacks by Boko Haram;
Amendment 9 #
2016/2239(INI)
Motion for a resolution
Citation 15
Citation 15
– having regard to its resolutions of 24 November 2016 on the situation in Syria, 27 October 2016 on the situation in Northern Iraq/Mosul7 , of 4 February 2016 on the systematic mass murder of religious minorities by the so-called ‘ISIS/Daesh’8 and of 11 June 2015 on Syria: situation in Palmyra and the case of Mazen Darwish9 , __________________ 7 8 9Texts adopted, P8_TA(2016)0422. Texts adopted, P8_TA(2016)0422. 8 Texts adopted, P8_TA(2016)0051. Texts adopted, P8_TA(2016)0051. 9 OJ C 407, 4.11.2016, p. 61. OJ C 407, 4.11.2016, p. 61.
Amendment 13 #
2016/2239(INI)
Motion for a resolution
Recital A
Recital A
A. whereas genocide, crimes against humanity and war crimes, also known as ‘atrocity crimes’, are the most serious crimes against humankinda reason of concern for the entire international community;
Amendment 16 #
2016/2239(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the Kampala amendments to the Rome Statute on the crime of aggression, added in 2010, have been ratified by 32 States, reaching the 30 acceptances required for its activation and opening the possibility for the Assembly of States Parties to adopt, after January 1st 2017, the activation of the Court's treaty- based aggression-related jurisdiction;
Amendment 24 #
2016/2239(INI)
Motion for a resolution
Recital D
Recital D
D. whereas universal accession to the Rome Statute is essential for the full effectiveness of the ICC; whereas 124 countries, including all EU Member States, are States Parties tohave ratified the Rome Statute of the ICC;
Amendment 26 #
2016/2239(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the African Union (AU) on 31 January 2017 adopted a non- binding resolution including an ICC Withdrawal Strategy and calling on AU member states to consider implementing its recommendations;
Amendment 28 #
2016/2239(INI)
Motion for a resolution
Recital D b (new)
Recital D b (new)
Db. whereas the ICC is currently conducting ten investigations in nine countries (Georgia, Mali, Côte d'Ivoire, Libya, Kenya, Darfur (Sudan), Uganda, Democratic Republic of the Congo and two investigation in the Central African Republic);
Amendment 29 #
2016/2239(INI)
Motion for a resolution
Recital E
Recital E
E. whereas, in accordance with the Preamble to the Rome Statute, as well as with the principle of complementarity, the ICC only acts in instances where national courts are unable or unwilling to hold trialinvestigate or prosecute atrocity crimes, so that States Parties retain the primary responsibility for investigating and prosecuting atrocitysuch crimes;
Amendment 43 #
2016/2239(INI)
Motion for a resolution
Recital I
Recital I
I. whereas several reports by UN bodies, including by the Special Adviser of the UN Secretary-General on the Prevention of Genocide, the Special Adviser of the UN Secretary-General on the Responsibility to Protect and the Office of the UN High Commissioner for Human Rights, and reports from reputable non- governmental organisations have stated that acts committed by so-called ‘ISIS/Daesh’ may constitute atrocity crimes;
Amendment 47 #
2016/2239(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the ICC has stated there is a reasonable basis to believe that crimes against humanity under article 7 of the Statute have been committed in Nigeria by Boko Haram, including murder and persecution;
Amendment 59 #
2016/2239(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. welcomes the meeting on 6 July 2016, between EU and ICC representatives in Brussels for the 2nd EU-ICC Roundtable meeting set up to allow relevant staff at the ICC and in the European Institutions to identify common areas of interest, exchange information on relevant activities and ensure better co- operation between the two organisations;
Amendment 81 #
2016/2239(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Encourages the EU Member States to continue their financial support for the ICC either as State Parties' contributions or through EU funding such as the European Instrument for Democracy and Human Rights (EIDHR) with a particular attention in funding for civil society actors working on ICC- related issues; expresses its concern that the lack of resources remains an impediment to the optimal functioning of the Court;
Amendment 86 #
2016/2239(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Welcomes the efforts of the EU Member States and the EEAS to find the best use for the EU financial instruments, in particular the European Development Fund (EDF) and encourages the EU and its Member States to further increase their effort in support of the ICC through their development programmes aimed at strengthening the rule of law;
Amendment 90 #
2016/2239(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Reaffirms that maintaining the independence of the ICC is crucial not only to ensure that it is fully effective, but also to promote the universality of the Rome Statute;
Amendment 92 #
2016/2239(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Reaffirms the paramount importance of universal adherence to the Rome Statute of the ICC; calls on the states which have not yet done so to ratify the Rome Statute and the Agreement on Privileges and Immunities of the Court in order to support accountability and reconciliation, which are key elements in preventing future atrocities; reaffirms, equally, the crucial importance of the integrity of the Rome Statute;
Amendment 95 #
2016/2239(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Calls the Assembly of States Parties to adopt the Kampala amendments on the crime of aggression;
Amendment 97 #
2016/2239(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes with regret the recent announcements of withdrawals from the Rome Statute, of Burundi, The Gambia and South Africa, which represent a challenge in terms of victims’ access to justice; calls on the countries concerned to reconsider their decision; welcomes the fact that one of theseThe Gambia and South Africa hasve already retracted itstheir withdrawal notification;
Amendment 102 #
2016/2239(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Notes with regret that four signatory states (Israel, Russia, Sudan, and the United States) have informed the UN Secretary General that they no longer intend to become parties to the Rome Statute;
Amendment 103 #
2016/2239(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Welcomes that the ICC's Assembly of State Parties responded in November 2016 by agreeing to consider proposed amendments to the Rome Statute to address the AU's concerns raised during the special summit of the African Union;
Amendment 105 #
2016/2239(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls, furthermore, on all ICC State Parties to step up their efforts to promote universal accession to the ICC and the Agreement on Privileges and Immunities of the Court; considers that the Commission and the European External Action Service (EEAS) should continue to encourage third countries to ratify and implement the Rome Statute and the Agreement on Privileges and Immunities of the Court and conduct an assessment of the EU’s achievements in this regard;
Amendment 112 #
2016/2239(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Strongly encourages the EU and its Member States to use all the diplomatic tools at their disposal to support effective cooperation with the ICC, including in relation to the execution of pending arrest warrants and with a particular regard to the 13 suspects who are at large as fugitives; calls on the Commission, the EEAS and the Council to agree on the adoption of concrete measures for responding to non-cooperation with the ICC that could complement political statements;
Amendment 115 #
2016/2239(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the EEAS to ensure that the ICC is mainstreamed across the EU's foreign policy priorities, by systematically taking into account the fight against impunity;
Amendment 120 #
2016/2239(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Encourages the EU Member States to amend Article 83 of the Treaty of the Functioning of the European Union to add the "atrocity crimes" to the list of crimes for which the EU has competences;
Amendment 132 #
2016/2239(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Highlights the essential role of the European Parliament in monitoring EU action in this matter; Welcomes the insertion of a section on the fight against impunity and the ICC in the EP Annual Report on Human Rights and democracy in the world and further suggests that the European Parliament plays a more proactive role by promoting and mainstreaming the fight against impunity and the ICC in all EU policies and institutions, in particular in the work of the European Parliament's committees responsible for External Policies of the Union and the European Parliament's delegations with third countries;
Amendment 154 #
2016/2239(INI)
Motion for a resolution
Subheading 3
Subheading 3
On the fight against impunity of non-state actors, such as ISIS/Daesh
Amendment 158 #
2016/2239(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that international criminal law and particularly the mandate and jurisprudence of the international criminal courts and tribunals have clearly defined the responsibility of non- state actors in international crimes;
Amendment 163 #
2016/2239(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Reaffirms, in this context, its strong condemnation of the heinous crimes and human rights violations committed by Boko Haram in Nigeria and ‘ISIS/Daesh’ in Syria and Iraq, including killings, torture, rape, sexual slavery, forced religious conversions and the systematic murder of religious minorities and crimes against children, including conscription, enlistment or use of children to participate actively in hostilities; believes that the prosecution of the perpetrators should be a priority for the international community;
Amendment 170 #
2016/2239(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Encourages the EU and its Member States to fight against impunity and to lend active support to international efforts to bring ‘ISIS/Daesh’Boko Haram, ‘ISIS/Daesh’ and any other actors committing war crimes and crimes against humanity to justice; calls for the development of a clear approach to the prosecution of ‘ISIS/Daesh’, including by using the expertise of the EU network for investigation and prosecution of genocide, crimes against humanity and war crimes;
Amendment 176 #
2016/2239(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Emphasises that the EU and its Member States should support the prosecution of ‘ISIS/Daesh’all actors suspected of committing war crimes or crimes against humanity in Syria, including the Syrian regime, ‘ISIS/Daesh’ and extremist militia by the ICC by seeking a consensus within the UN Security Council; calls on the EU Member States to investigate and prosecute nationals of theirs who have committed atrocity crimes in Iraq and Syria, or to refer them to the ICC; underlines that, alternatively, the EU should explore and support at international level all options to prosecute ‘ISIS/Daesh’ crimescrimes committed by any side to the Syrian conflict, including by means of the establishment of an International Criminal Tribunal for Iraq and Syria;
Amendment 187 #
2016/2239(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the Commission of Inquiry on Syria set up by the Human Rights Council and the International, Impartial and Independent Mechanism (IIIM) set up by the UN General Assembly, and; calls on all EU Member States, all parties to the conflict in Syria, civil society and the UN system as a whole to cooperate fully with the IIIM and to provide it with any information and documentation they might possess to assist in the delivery of its mandate; thanks EU Member States who have contributed financially to the IIIM and calls on those who have not to do so as a matter of urgency;
Amendment 194 #
2016/2239(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the EUʼs efforts to support the work of the Commission for International Justice and Accountabilityorganisations documenting atrocity crimes in Iraq and Syria; calls for the EU to give direct support to Iraqi and Syrian civil society in gathering, preserving and protecting evidence of crimes committed by ‘ISIS/Daesh’any side to the Syrian conflict; supports the United KingdomBritish and Belgian initiative at UN level to gather evidence of the crimes committed by ‘ISIS/Daesh’ in Syria and Iraq in order to facilitate its prosecution internationally;
Amendment 28 #
2016/2224(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls on the Commission to present horizontal legislation to protect whistle- blowers as soon as possible as well as to come forward with a proposal of a fund to protect whistle blowers;
Amendment 54 #
2016/2224(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Argues that whistle-blowers should be free to report anonymously both internally, within the workplace, and externally, and should be protected regardless of their choice of reporting channel;
Amendment 7 #
2016/2188(DEC)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that, while ensuring that all assignments are carried out in full, ESMA should carefully adhere to the tasks assigned to it by the Union legislator and should not seek to de facto broaden its mandate beyond those assignments; emphasises, in this respect, that, where possible, ESMA needs to pay particular attention to the principle ofthis in a proportionalitte way;
Amendment 12 #
2016/2188(DEC)
Draft opinion
Paragraph 3
Paragraph 3
Amendment 6 #
2016/2187(DEC)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that, while making sure that all assignments are carried out in full, EIOPA should carefully stick to the tasks assigned to it by the Union legislator, and should not seek to de facto broaden its mandate beyond those assignments; emphasises, in this respect that, where possible, EIOPA needs to pay particular attention to the principle of proportionality;this in a proportionate way.
Amendment 7 #
2016/2186(DEC)
Draft opinion
Paragraph 2
Paragraph 2
2. Takes note of EBA’s lease agreement, which ends on 8 December 2026, but which includes a break option after six years, triggering a penalty payment of 16 months’ rent equivalent to EUR 3 246 216; considers that the 2016 accounts should fully disclose any future relocation costs; calls on the EBA to be transparent with all stakeholders regarding considerations of any future relocation;
Amendment 10 #
2016/2186(DEC)
Draft opinion
Paragraph 3
Paragraph 3
3. Believes that the initial budget cuts should not have been implemented by postponing the publication of standards and guidelines or by cutting attendance in BCBS working groups, but by ending financing of non-core related activities; stresses, therefore, that any potential increases in EBA's means must be accompanied by adequate rationalisation measures;
Amendment 150 #
2016/2101(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines that the still-too-high unemployment rates show that the capacity to create quality and sustainable jobs in most Member States is still limited; emphasises that further action is needed, in consultation with social partners and in accordance with national practices, to make labour markets more inclusive overall;
Amendment 201 #
2016/2101(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that further urgent measures are needed to reduce non-performing loans (NPL) in the euro area in conformity with EU legislation, and to increase the ability of banks to lend to the real economy, notably to SMEs;
Amendment 295 #
2016/2101(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Underlines the importance of better addressing the high tax wedge on labour given that high taxation diminishes incentives for the inactive, the unemployed, second earners and low-wage earners to return to employment, by promoting a growth-friendly tax shift towards consumption and environmental taxes;
Amendment 6 #
2016/2047(BUD)
Draft opinion
Paragraph 2
Paragraph 2
2. Is concerned about the significant impact that the pledges made by the EU at the London conference on supporting Syria and in the context of the Facility for Refugees in Turkey will have on the external financing instruments and the humanitarian aid budget; while supporting those pledges, stresses that their fulfilment must not be to the detriment of other priority areas and long-term policies; calls in particular for an increase in the funding of the European Neighbourhood Instrument, which plays a vital role in supporting stability among Europe's Eastern and Southern neighbours; draws attention notably to Tunisia, which is the success story of democratic transition in the region, but which remains potentially fragile; considers it essential to maintain the EU’s pivotal role in supporting the Middle East Peace Process, the Palestinian Authority and UNRWA;
Amendment 16 #
2016/2047(BUD)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls for increasing investment in the visibility of EU external action in order to strengthen the impact of funding in this field;
Amendment 17 #
2016/2047(BUD)
Draft opinion
Paragraph 5
Paragraph 5
5. ReiteEncouratges its request thatfurther negotiations on transferring the budget line for EU Special Representatives be transferred, in a budget- neutral manner, from the CFSP budget to the administrative budget of the EEAS in order to further consolidate the EU's diplomatic activities.
Amendment 350 #
2016/2038(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls on the Commission to come forward with a Union Code of Conduct for all advisory services, including a Union incompatibility regime for tax advisers, in order to prevent them from advising both public and private sectors and to prevent other conflicts of interest; urges in this respect the Commission to come forward with a proposal amending regulation 573/2014 and directive 2014/56 in order to tackle properly potential conflicts of interest audit companies are facing.
Amendment 75 #
2016/2036(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls what many seem to have forgotten, namely that the European Union is one of the greatest achievements in European history and that the transformative power of the EU has brought peace, stability and prosperity to its citizens; emphasises that the EU remains the largest economic power, the most generous donor of humanitarian and development assistance, and a frontrunner in global diplomacy on issues such as climate change, non-proliferation and human rights; calls for stepping up visibility of EU actions in these fields;
Amendment 346 #
2016/2036(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that a deepening of the relationship with the US and Canada is of strategic interest to the EU, while at the same time it is important for the EU to strengthen its relationship with Asia as well as Central and South America;
Amendment 373 #
2016/2036(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that the EU must pay particular attention to improving the living conditions in its neighbourhood, using all available policy tools, including trade, development aid and diplomacy, as well as crisis management capabilities; welcomes in this regard the EU’s new migration partnerships and the External Investment Plan; underscores, however, the importance of ensuring that actions undertaken under these initiatives are fully in line with EU fundamental values; underlines the need to develop a new approach towards Africa, providing better opportunities for trade, investment and economic growth and supporting African countries in building democratic, transparent and effective institutions; is convinced that the EU should review its development and trade policies to make sure that they contribute to these goals; calls on the EU, and in particular the Member States, to significantly increase their financial commitments to the region, including through the Africa Trust Fund and the European Development Fund;
Amendment 408 #
2016/2036(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Highlights the importance of finding a sustainable solution to the conflict in Syria in line with the transition process set out in the Geneva Communique; supports the UN-led efforts to facilitate negotiations between all parties to the Syrian conflict on an inclusive political settlement; calls on the EU to use its leverage over key actors such as Iran, Saudi Arabia and Russia to ensure that they take a constructive position; emphasises that the use of sanctions should be considered in case some of the actors involved do not deliver on their commitments; calls for the EU to push for the establishment of a no-fly zone to protect civilians;
Amendment 441 #
2016/2036(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Believes that the fight against human traffickers is only possible where there is a cooperation with countries on the other side of the Mediterranean and in Africa as a whole that is based on respect for human rights;
Amendment 473 #
2016/2036(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Takes the view that the EU should upgrade and intensify its diplomatic efforts in Asia in order to contribute to greater stability and security in conflict areas with renewed tensions, working closely with partners in the region and upholding international law, including in the South China sea and the Indian Ocean;
Amendment 75 #
2016/2033(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the authorities responsible to exchange VAT and excise information in particular and to use all available technical means to record cross-border deliveries of goods and services to end- users; believes in this regard that the use of VAT Locator Numbers (VLNs), under which customers cannot deduct input tax if the VAT is mentioned on an invoice without a valid VLN could be a helpful tool;
Amendment 108 #
2016/2033(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that the current plethora of VAT rates causes great uncertainty for companies involved in cross-border trading; in particular in the services sector; calls therefore on the Commission to study the impact by mid-2017 of the missing trader fraud the European services sector is facing;
Amendment 114 #
2016/2033(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 132 #
2016/2033(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 143 #
2016/2033(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 191 #
2016/2033(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Takes the view that national tax administrations must take greater responsibility for ensuring tax compliance and reducing opportunities for evasion in the reverse charge procedure and in the general implementation of the country-of- destination principle; notes in this regard the need to hold parties within the chain of supplies jointly and severally liable for VAT that has not been remitted by other parties in the sequence of the supplies;
Amendment 208 #
2016/2033(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls for all proposals to be studied in order to keep turnover tax for companies, in particular SMEs, cost- neutral as far as possible and to minimise the administrative burden; encourages the Commission in this regard also to look into international best practices, like the gold card schemes applicable in Singapore and Australia, recognizing that risk of fraud on the part of some suppliers is very low;
Amendment 219 #
2016/2033(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Calls in the short term for a comprehensive internet portal for companies and end-users to find, clearly and easily, information on the VAT rates applicable to individual products and services in the Member States; notes also that certified tax software could help in limiting the risk of specific types of fraud and other irregularities and it can provide certainty to honest businesses engaged in domestic and cross border transactions;
Amendment 43 #
2016/2032(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes differences in financing conditions for SMEs between Member States and in Member States, notably the quantity and cost of available funding, which are influenced by SME-specific and country and region-specific factors;
Amendment 121 #
2016/2032(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Is concerned aboutTakes note of the multiple regulatory requirements for banks and possible negative effects on lending to SMEs; calls on the Commission to assess these effects on SME lending, with the support of the EBA and SSM; believes that a potential differentiation of the regulatory requirements according to the business model of the bank could be considered;
Amendment 163 #
2016/2032(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States and the European Commission to enhance the financial literacy of SMEs and to ensure best practices are shared;
Amendment 180 #
2016/2032(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs to avoid duplication but without putting investor protection at risk;
Amendment 202 #
2016/2032(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the potential of new innovative financial technology (FinTec) for the better matching of SMEs with potential investors; calls on the Commission to explore potential risks and the need for an appropriate harmonised EU regulatory framework without stifling innovation;
Amendment 205 #
2016/2032(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework to increase the availability of this type of funding across the EU for SME's;
Amendment 222 #
2016/2032(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the Commission’s proposals for a framework for simple, transparent and standardised (STS) securitisation and the calibration of the prudential requirements for banks; notes the possible effects of SME securitisation for bank lending to SMEs provided there is a full transparency on the underlining risks;
Amendment 226 #
2016/2032(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines the potential of venture capital and risk capital finance, especially for non-listed start-ups and innovative SMEs; notes that these markets are underdeveloped in the EU; welcomes the Commission’s initiative to revise the EuVECA and EuSEF legislation; underlines furthermore the urgent need for the Commission to tackle the fragmentation along national borders in the whole European investment funds sector;
Amendment 235 #
2016/2032(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs; calls the Commission in this regard to tackle the bias in favour of debt borrowing;
Amendment 62 #
2016/2007(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that DLT’s potential to accelerate, decentralise, automate and standardise data-driven processes at lower cost has the potential fundamentally to alter the way in which assets are transferred and records are kept, with implications for both the private and the public sector, the latter being concerned in three dimensions: as a service provider, as a supervisor and as a legislator;
Amendment 73 #
2016/2007(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Encourages government agencies to test DLT systems in order to improve the provision of services to citizens under respect of EU data protection rules, while cautioning on the outsourcing of public services to proprietary private DLT schemes;
Amendment 80 #
2016/2007(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a proportionate regulatory approach so as not to stifle innovation at an early stage, while taking seriously the regulatory challenges that the widespread use of VCs and DLT might pose; underlines that the threat to existing business models of securities, exchanges, CCPs and CSDs, is only secondary, and will only materialise if virtual currency players remain largely unregulated.
Amendment 83 #
2016/2007(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a proportionate regulatory approach so as not to stifle innovation at an early stagend be future proof, while taking seriously the regulatory challenges that the widespread use of VCs and DLT might pose;
Amendment 100 #
2016/2007(INI)
Motion for a resolution
Paragraph 12 – subparagraph 1 a (new)
Paragraph 12 – subparagraph 1 a (new)
Underlines however that that many virtual currency actors are not subject to minimum capital requirements, let alone strict prudential requirements, making an insolvency more likely and potentially more damaging for these firms’ clients;
Amendment 59 #
2016/2006(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is concerned about the complexity of the IFRS; calls for this complexity to be reduced whenever appropriate and possible when developing new accounting standards; calls that accounting standards are harmonised so that company financial data is comparable across Member States to increase investor confidence;
Amendment 80 #
2016/2006(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Supports the Commission recommendations that the Monitoring Board of the IFRS Foundation should shift the focus of its attention from the issue of internal organisation to discussing matters of public interest that could be referred to the IFRS Foundation; is concerned particularly about the potential conflict of interests arising from major financial contributions from the large audit companies to the annual budget of the IFRS Foundation;
Amendment 95 #
2016/2006(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the EFRAG reform which took effect on 31 October 2014; calls on the Commission to propose the extension of the Union Programme for EFRAG for the period 2017-2020;
Amendment 224 #
2016/0365(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Building on the approach for bank recovery and resolution, Member States' authorities should be prepared and have adequate recovery and resolution tools at their disposal to handle situations involving CCP failures. However, due to their different functions and business models, the risks inherent in banks and CCPs are different. S, which means that the regulatory approach taken in the banking resolution framework cannot be transposed to the CCP framework. Therefore, specific tools and powers are therefore needed for CCP failure scenarios caused both by the failure of the CCP's clearing members or as a result of non- default events.
Amendment 230 #
2016/0365(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to deal in an efficient manner with failing CCPs, authorities should have the power to impose preparatory measures on CCPs. A minimum standard should be established as regards the contents and information to be included in recovery plans to ensure that all CCPs in the Union have sufficiently detailed plans for recovery should they face financial distress. Such plans should be based on realistic assumptions applicable in a range of robust and severe scenarios, including deteriorations arising from a default event or from a non-default event. The recovery plan should form part of the operating rules of the CCP agreed contractually with clearing members. Those operating rules should further contain provisions to ensure the enforceability of recovery measures outlined in the plan in all scenarios. Recovery plans should not assume access to extraordinarany public financial support or expose taxpayers to the risk of loss.
Amendment 239 #
2016/0365(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) Resolution authorities, on the basis of the assessment of resolvability, should have the power to require changes to the legal structure and organisation of CCPs directly or indirectly through the competent authority, to take measures which are necessary and proportionate to reduce or remove material impediments to the use of resolution tools and ensure the resolvability of the entities concerned.
Amendment 244 #
2016/0365(COD)
Proposal for a regulation
Recital 34
Recital 34
(34) The resolution framework should provide for timely entry into resolution before a CCP is insolvent. A CCP should be considered to be failing or likely to fail when it infringes or is likely in the near future to infringe the requirements for continuing authorisation, when its recovery has failed to restore its viability, when the assets of the CCP are or are likely in the near future to be less than its liabilities, when the CCP is or is likely in the near future to be unable to pay its debts as they fall due, or when the CCP requires extraordinary public financial support. However, the fact that a CCP does not comply with all the requirements for authorisation should not justify by itself the entry into resolution.
Amendment 247 #
2016/0365(COD)
Proposal for a regulation
Recital 37
Recital 37
(37) The prime objectives of resolution should be to ensure the continuity of critical functions, to avoid adverse effects on financial stability, and to protect public funds by minimising reliance on extraordinary public financial support to failing CCPs.
Amendment 257 #
2016/0365(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) The recovery and resolution tools should be used to the fullest extent possible before any public sector injection of capital or equivalent extraordinary public financial support to a CCP. The use of public financial support to assist in the resolution of failing institutions should comply with the relevant State aid provisions.
Amendment 258 #
2016/0365(COD)
Proposal for a regulation
Recital 49
Recital 49
(49) An effective resolution regime should minimise the costs of the resolution of a failing CCP borne by the taxpayers. It should ensure that CCPs can be resolved without jeopardising financial stability. The loss and position allocation tools achieve that objective by ensuring that shareholders and counterparties who are among the creditors of the failing CCP suffer appropriate losses and bear an appropriate part of the costs arising from the failure of the CCP. The loss and position allocation tools therefore give shareholders and counterparties of CCPs a stronger incentive to monitor the health of a CCP during normal circumstances in accordance with the recommendations of the Financial Stability Board21 . __________________ 21 http://www.fsb.org/wp- content/uploads/r_141015.pdf
Amendment 260 #
2016/0365(COD)
Proposal for a regulation
Recital 51
Recital 51
(51) Where the loss and position allocation tools are applied with the objective of restoring the viability of the failing CCP to enable it to continue to operate as a going concern, the resolution should be accompanied by replacement of management, except where retention of management is appropriate and necessary for the achievement of the resolution objectives, and a subsequent restructuring of the CCP and its activities in a way that addresses the reasons for its failure. That restructuring should be achieved through the implementation of a business reorganisation plan, which should be compatible with the restructuring plan that the CCP might be required to submit pursuant to the State aid framework.
Amendment 262 #
2016/0365(COD)
Proposal for a regulation
Recital 60
Recital 60
Amendment 275 #
2016/0365(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 26
Article 2 – paragraph 1 – point 26
(26) 'extraordinary public financial support' means State aid within the meaning of Article 107(1) TFEU, or any other public financial support at supra- national level, which, if provided for at national level, would constitute State aid, that is provided in order to preserve or restore the viability, liquidity or solvency of a CCP or of a group of which such a CCP forms part;
Amendment 327 #
2016/0365(COD)
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. CCPs shall draw up and maintain a recovery plan providing for measures to be taken in order to restore their financial position following a significant deterioration of their financial situation or a risk of breaching their prudential requirements under Regulation (EU) No 648/2012. At least once a year CCPs shall be stress tested.
Amendment 450 #
2016/0365(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point d
Article 21 – paragraph 1 – point d
(d) to protect public funds by minimising reliance on extraordinary public financial support;
Amendment 461 #
2016/0365(COD)
Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1 – point e
Article 22 – paragraph 2 – subparagraph 1 – point e
(e) the CCP requires extraordinary public financial support.
Amendment 503 #
2016/0365(COD)
Proposal for a regulation
Article 27 a (new)
Article 27 a (new)
Article 27a The possibility to compensate CCP participants shall not apply to their contractually committed losses in the default management or recovery phases.
Amendment 51 #
2016/0364(COD)
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) The principle of equal pay for male and female workers for equal work or work of equal value is laid down in art 157 TFEU. This needs to be applied in a consistent way by credit institutions and investment firms. Therefore they should demonstrate a gender neutral remuneration policy.
Amendment 103 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 2013/36/EU
Article 3 – point 64 a (new)
Article 3 – point 64 a (new)
(64a) Gender neutral remuneration policy in a credit institution or investment firm means a remuneration policy based on equal pay for women and men for equal work or work of equal value.
Amendment 108 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21b
Article 21b
Amendment 128 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21b – paragraph 3
Article 21b – paragraph 3
3. Paragraphs 1 and 2 shall not apply where the total value of assets in the Union of the third country group is lower than EUR 30 billion, unless the third country group is a non-EU G-SII.
Amendment 134 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21 – paragraph 4 – introductory part
Article 21 – paragraph 4 – introductory part
4. For the purposes of this Article, the total value of assets in the Union of the third country group shall include the following:total assets of each institution in the Union of the third country group, as resulting from their consolidated balance sheet
Amendment 154 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21b – paragraph 6 a (new)
Article 21b – paragraph 6 a (new)
6 a. By way of derogation from paragraph 1, groups operating through more than one institution in the Union and with total value of assets exceeding EUR 30 billion on date of entry into force of this directive subject to this Article shall have an intermediate EU parent undertaking or, as per paragraph 7, two or more intermediate EU parent undertakings from date of application of Directive + four years.
Amendment 159 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
6 a. By derogation from paragraph 6, third country groups that are subject to national laws or regulations requiring the structural separation of activities may have more than one intermediate EU parent undertaking Such intermediate EU parent undertakings shall be consistent with the structural separation of activities that the banking group is required to undertake.
Amendment 171 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)
Article 1 – paragraph 1 – point 11 a (new)
Directive 2013/36/EU
Article 74
Article 74
(11a) Article 74 is amended as follows: "1. Institutions shall have robust governance arrangements, which include a clear organisational structure with well- defined ,transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks they are or might be exposed to, adequate internal control mechanisms, including sound administration and accounting procedures, and remuneration policies and practices that are consistent with and promote sound and effective risk management. Those remuneration policies and practices shall be gender neutral. .2. The arrangements, processes and mechanisms referred to in paragraph 1 shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in Articles 76 to95 shall be taken into account 3. EBA shall issue guidelines on the 3. arrangements ,processes and mechanisms referred to in paragraph 1, in accordance with paragraph 2. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=EN)One year after the adoption of this directive, EBA will issue guidelines on gender neutral remuneration policy for credit institutions and investment firms. Two years after the publication of these guidelines and based on the information collected by the national competent authorities, EBA will draft a report about the application of gender neutral remuneration policies by credit institutions and investment firms. " Or. en
Amendment 172 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2013/36/EU
Article 75 – paragraph 1
Article 75 – paragraph 1
1. Competent authorities shall collect the information disclosed in accordance with the criteria for disclosure established in points (g), (h), (i) and (k) of Article 450(1) of Regulation (EU) No 575/2013 and shall use its well as the information provided by credit institutions and investment firms on the gender pay gap and shall use this information to benchmark remuneration trends and practices. The competent authorities shall provide EBA with that information.
Amendment 200 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point a
Article 1 – paragraph 1 – point 15 – point a
Directive 2013/36/EU
Article 92 – paragraph 1
Article 92 – paragraph 1
Amendment 208 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point b a (new)
Article 1 – paragraph 1 – point 15 – point b a (new)
Directive 2013/36/EU
Article 92 – paragraph 2 – point a a (new)
Article 92 – paragraph 2 – point a a (new)
(ba) In paragraph 2, the following point (aa) is inserted: (aa) the remuneration policy is gender neutral: female and male workers will be equally remunerated for equal work or work of equal value.
Amendment 269 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 103
Article 103
Amendment 271 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – introductory part
Article 104 – paragraph 1 – introductory part
1. For the purposes of Article 92(2)(b), Article 97, Article 98(4), Article 101(4) and Article 102 and the application of Regulation (EU) No 575/2013, competent authorities shall have at least the following powers:
Amendment 275 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – point g
Article 104 – paragraph 1 – point g
(g) to require institutions to limit variable remuneration as a percentage of net revenues where it is inconsistent with the maintenance of a sound capital base; and, to require credit institutions and investment firms to comply with the guidelines issued by EBA on gender neutral remuneration policies.
Amendment 182 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 22 a (new)
Article 1 – paragraph 22 a (new)
Directive 2014/59/EU
Article 44 – paragraph 2 – subparagraph 1 – point g a (new)
Article 44 – paragraph 2 – subparagraph 1 – point g a (new)
22 a. In Article 44(2), the following point (ga) is added: “(ga) deposits by public authorities.”
Amendment 203 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 1 a (new)
Article 45b – paragraph 1 a (new)
1 a. By way of derogation from paragraph 1, liabilities issued before ... [the date of entry into force of this amending Directive] which do not meet the conditions set out in points (d) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities of resolution entities.
Amendment 438 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 3 a (new)
Article 45g – paragraph 3 a (new)
3 a. By way of derogation from point (a)(ii) of paragraph 3, liabilities issued before ... [date of entry into force of this amending Directive] which do not meet the conditions set out in points (b)and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities.
Amendment 518 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – introductory part
Article 55 – paragraph 2 – subparagraph 1 – introductory part
The requirement referred to in paragraph 1 mayshall not apply where the resolution authority of a Member State determines all of the following conditions are meteither:
Amendment 558 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 26
Article 1 – paragraph 26
Directive 2014/59/EU
Article 63 – paragraph 1a
Article 63 – paragraph 1a
1a. The period of the suspension pursuant to paragraph 1(n) shall not exceed the minimum period of time that the resolution authority considers necessary for the effective application of one or more resolution tools or for the purposes of the valuation pursuant to Article 36 and in any event shall not exceed 52 working days.
Amendment 50 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 c – paragraph 1 a (new)
Article 12 c – paragraph 1 a (new)
1a. By way of derogation from paragraph 1, liabilities issued before ... [date of entry into force of this amending Regulation] which do not meet the conditions set out in points (d) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities of resolution entities.
Amendment 144 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 h – paragraph 3 a (new)
Article 12 h – paragraph 3 a (new)
3a. By way of derogation from point (a)(ii) of paragraph 3, liabilities issued before ... [date of entry into force of this amending Regulation] which do not meet the conditions set out in points (b) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities.
Amendment 205 #
2016/0360A(COD)
Proposal for a regulation
Recital 50
Recital 50
(50) Financial institutions should apply gender neutral remuneration policies, according to the principle laid down in art 147 of the EU Treaty. Some clarifications should be made to the remuneration disclosures. Furthermore, institutions benefitting from a derogation from certain remuneration rules should be required to disclose information concerning such derogation.
Amendment 235 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point i a (new)
Article 1 – paragraph 1 – point 3 – point i a (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 115
Article 4 – paragraph 1 – point 115
(ia) in paragraph 1, point (115) is replaced by the following: "'intangible assets' has the same meaning as under the applicable accounting framework and includes goodwill;" (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=, with the exception of software and cybersecurity for the purpose of Article 36;" Or. en)
Amendment 382 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Article 1 – paragraph 1 – point 27
Amendment 476 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 39 – point a
Article 1 – paragraph 1 – point 39 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 1 – point d
Article 92 – paragraph 1 – point d
(d) a leverage ratio of 3%. which shall apply on the basis of an institution’s group consolidation as set out in Article 10.
Amendment 808 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 s – paragraph 1 a (new)
Article 428 s – paragraph 1 a (new)
1a. For all netting sets of derivative contracts, institutions shall apply a 5%required stable funding factor to the absolute market value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative market value.
Amendment 169 #
2016/0359(COD)
Proposal for a directive
Article 5 a (new)
Article 5 a (new)
Article 5a Member States shall ensure that a creditors' committee shall be established. The committee shall include representatives of the main creditors and other stakeholders; it shall include a representative of the debtor’s employees, especially the representation by a responsible trade union. The members of the creditors' committee shall support and monitor the insolvency administrator's execution of his office. They shall demand information on the progress of business affairs, have the books and business documents inspected and the monetary transactions and the available cash verified.
Amendment 177 #
2016/0359(COD)
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Paragraph 2 shall not apply to workers' outstanding claims except if and to the extent that Member States ensure by other means that the payment of such claims is guaranteed at a level of protection at least equivalent to that provided for under the relevant national law transposing Directive 2008/94/EC.
Amendment 216 #
2016/0359(COD)
Proposal for a directive
Article 8 a (new)
Article 8 a (new)
Article 8a Workers’ claims or other rights shall not be affected by restructuring plans.
Amendment 149 #
2016/0337(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Taxable revenues should be reduced by business expenses and certain other items. Deductible business expenses should normally include all costs relating to sales and expenses linked to the production, maintenance and securing of income. To support innovation in the economy and modernise the internal market, deductions should be provided for research and development costs relating to expenses on staff, subcontractors, agency workers and freelancers, including super- deductions, and those should be fully expensed in the year incurred (with the exception of immovable property). Small starting companies without associated enterprises which are particularly innovative (a category which will in particular cover start-ups) should also be supported through enhanced super- deductions for research and development costs. In order to ensure legal certainty, there should also be a list of non-deductible expenses. A clear definition of costs of research and development is needed to avoid misuse of the deductions.
Amendment 187 #
2016/0337(CNS)
Proposal for a directive
Recital 21 a (new)
Recital 21 a (new)
(21a) Recalls that EU treasuries lose up to 5.4 billion euros in tax revenue so far from not being able to tax the two biggest digital multinationals. The reason lies in the fact that activities in countries where these enterprises do not have a physical presence cannot be ascertained by tax authorities. This is a real and urgent social injustice that should be tackled via this directive. This directive offers a way to ascertain the presence of a digital permanent establishment in a Member State. Furthermore, for a phasing in period of two years, this directive first applies to digital enterprises with a substantial size and activity within the EU.
Amendment 188 #
2016/0337(CNS)
Proposal for a directive
Recital 21 a (new)
Recital 21 a (new)
(21a) The two directives of the CCCTB proposal will enter into force at the same moment and thus imply a radical change in corporate taxation in Europe. Ahead of the implementation of this directive, national tax administrations should work in good cooperation with some selected companies as to ensure a smooth implementation. National tax administrations may encourage and incentivize companies to participate in this phase.
Amendment 208 #
2016/0337(CNS)
Proposal for a directive
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. Without prejudice to the conditions laid down in points (c) to (d) in paragraph1, this directive shall, for a phasing in period of two years after its implementation, apply first to a tax payer or an associated enterprise that is deemed to have a permanent establishment in the EU by offering a digital platform as laid down in article 5, paragraph 2a(new) of this directive.
Amendment 246 #
2016/0337(CNS)
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
Amendment 264 #
2016/0337(CNS)
Proposal for a directive
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
2a. The costs for research and development referred to in paragraph 2 shall include only expenses on staff, subcontractors, agency workers and freelancers.
Amendment 274 #
2016/0337(CNS)
Proposal for a directive
Article 9 – paragraph 3 – subparagraph 1
Article 9 – paragraph 3 – subparagraph 1
In addition to the amounts which are deductible as costs for research and development in accordance with paragraph 2, the taxpayer may also deduct, per tax year, an extra 50% of such costs, with the exception of the cost related to movable tangible fixed assets, that it incurred during that year. To the extent that costs for research and development reach beyond EUR 20 000 000, the taxpayer may deduct 25% of the exceeding amount.
Amendment 339 #
2016/0337(CNS)
Proposal for a directive
Article 45 a (new)
Article 45 a (new)
Article 45a Effective Tax Contribution As long as the threshold laid down in point (c) of Article 2(1) of this directive still is in place, Member States shall monitor and publish the effective tax contribution of SMEs and MNEs across the Member States, as to ensure a level playing field.
Amendment 403 #
2016/0337(CNS)
Proposal for a directive
Article 69 – paragraph 2 a (new)
Article 69 – paragraph 2 a (new)
The Commission shall monitor and publish its findings on the uniform implementation of this directive so as to avoid situations in which 28 competent authorities enforce 28 different regimes, and on the potential problems produced by differences in accounting regimes.
Amendment 38 #
2016/0336(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) Companies which seek to do business across frontiers within the Union encounter serious obstacles and market distortions owing to the existence and interaction of 28 disparate corporate tax systems. Furthermore, tax planning structures have become ever-more sophisticated over time, as they develop across various jurisdictions and effectively take advantage of the technicalities of a tax system or of mismatches between two or more tax systems for the purpose of reducing the tax liability of companies. Digitisation greatly facilitates cross border business. Removing barriers to the Single Market, including tax barriers, and creating a more favourable business environment through neutral, simplified and coordinated tax rules is therefore more important than ever. Current rules may need to be adapted to respond to the digitalisation of our economy. Although those situations highlight shortcomings that are completely different in nature, they both create obstacles which impede the proper functioning of the internal market. Action to rectify these problems should therefore address both these types of market deficiencies.
Amendment 58 #
2016/0336(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) As pointed out in the proposal of 16 March 2011 for a Council Directive on a Common Consolidated Corporate Tax Base (CCCTB)7 , a corporate tax system which treats the Union as a single market for the purpose of computing the corporate tax base of companies would facilitate cross-border activity for companies resident in the Union and promote the objective of making it a more competitive location for investment internationally. The proposal of 2011 for a CCCTB focussed on the objective of facilitating the expansion of commercial activity for businesses within the Union. In addition to that objective, it should also be taken into account that a CCCTB can be highly effective in improving the functioning of the internal market through countering tax avoidance schemes. In this light, the initiative for a CCCTB should be re- launched in order to address, on an equal footing, both the aspect of business facilitation and the initiative's function in countering tax avoidance. Once implemented in all Member States, the CCCTB would ensure that taxes are paid where profits arise. Such an approach would best serve the aim of eradicating distortions in the functioning of the internal market. __________________ 7 Proposal for a Council Directive COM (2011) 121 final/2 of 3.10.2011 on a Common Consolidated Corporate Tax Base.
Amendment 69 #
2016/0336(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Considering the need to act swiftly in order to ensure a proper functioning of the internal market by making it, on the one hand, friendlier to trade and investment and, on the other hand, more resilient to tax avoidance schemes, it is necessary to divide the ambitious CCCTB initiative into two separate proposals. At a first stage, rules on a common corporate tax base should be agreed, before addressing, at a second stage, the issue of consolidation. But implementing the CCTB without consolidation would not tackle the problem of profit shifting. Therefore, it is essential that the consolidation is applied in all Member States from 31 December 2019.
Amendment 80 #
2016/0336(CNS)
Proposal for a directive
Recital 5
Recital 5
Amendment 89 #
2016/0336(CNS)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) Taking into account the digital change in the business environment, it is necessary to define the concept of a digital business establishment. Companies which raise revenues in a Member State without having a physical establishment in that Member State have to be treated in the same way as companies with a physical establishment.
Amendment 117 #
2016/0336(CNS)
Proposal for a directive
Recital 13 a (new)
Recital 13 a (new)
(13a) The Commission should create a new department in DG TAXUD to monitor Member States’ tax revenues after the implementation of the CCCTB. In this view, the Commission should increase the means of this DG. This new department should be mandated to give guidance to companies and Member States’ tax administrations.
Amendment 125 #
2016/0336(CNS)
Proposal for a directive
Recital 16
Recital 16
(16) In order to supplement or amend certain non-essential elements of this Directive, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission with respect of (i) taking into account changes to the laws of Member States concerning the company forms and corporate taxes and amend Annexes I and II accordingly; (ii) laying down additional definitions; and (iii) supplementing the rule on the limitation of interest deductibility with anti-fragmentation rules, to better address the tax avoidance risks which may emerge within a group. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level and the opinion of the European Parliament. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and the Council.
Amendment 141 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 1 – introductory part
Article 2 – paragraph 1 – introductory part
1. The rules of this Directive shall apply to a company that is established under the laws of a Member State, including its permanent establishments and digital business in other Member States, where the company meets all of the following conditions:
Amendment 144 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) it belongs to a consolidated group for financial accounting purposes with a total consolidated group revenue that exceeded EUR 750 000 000 during the finacorresponding to the amount laid down point (c) of Article 2(1) of Council Directive ... on a Common Corporate Tax Base1a+; _____________ 1aCouncial year preceding the relevant financial year; Directive ... on a Common Corporate Tax Base (OJ L ..., ....., p. ...). + OJ: Please insert the serial number of the document 2016/0337(CNS) into the title and complete footnote 1 with regard to the same document.
Amendment 149 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
This Directive shall also apply to a company that is established under the laws of a third country in respect of its permanent establishments situated in one or more Member States, and in relation to revenues otherwise accrued in a Member State, where the company meets the conditions laid down in points (b) to (d) of paragraph 1.
Amendment 156 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 23
Article 3 – paragraph 1 – point 23
(23) 'consolidated tax base' means the result of adding up the tax basesconsolidated net taxable revenue of allthe group members, as calculated on a consistent accounting basis applicable to all group members in accordance with Directive 2016/xx/EU;
Amendment 159 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 a (new)
Article 3 – paragraph 1 – point 28 a (new)
(28a) 'royalty cost' means costs arising from payments of any kind made as a consideration for the use of, or the right to use, any copyright of literary, artistic or scientific work, including cinematograph films and software, any patent, trademark, design or model, plan, secret formula or process, or for information concerning industrial, commercial or scientific experience, or any other intangible asset; payments for the use of, or the right to use, industrial, commercial or scientific equipment shall be regarded as royalty costs;
Amendment 161 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 b (new)
Article 3 – paragraph 1 – point 28 b (new)
(28b) 'transfer prices' means the prices at which an undertaking transfers tangible goods or intangible assets or provides services to associated undertakings;
Amendment 162 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 c (new)
Article 3 – paragraph 1 – point 28 c (new)
(28c) 'patent box' means a system used to calculate the income deriving from intellectual property (IP) which is eligible for tax benefits by establishing a link between the eligible expenditure effected when the IP assets were created (expressed as a proportion of the overall expenditure linked to the creation of the IP assets) and the income deriving from those IP assets; this system restricts the IP assets to patents or intangible goods with an equivalent function and provides the basis for the definition of 'eligible expenditure', 'overall expenditure' and 'income deriving from IP assets';
Amendment 163 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 d (new)
Article 3 – paragraph 1 – point 28 d (new)
(28d) ‘Digital business establishment’ means an establishment which is specifically directed towards consumers or businesses in a Member State regard shall be had to the fact that the business establishment is conducting its business under the top level domain of the Member State or of the EU, or in relation to mobile application based business, distributing its application via the Member State specific part of a mobile application distribution centre;
Amendment 164 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 e (new)
Article 3 – paragraph 1 – point 28 e (new)
(28e) An effective corporate tax rate means corporate tax paid in relation to earnings and profits in financial statements of the corporation.
Amendment 183 #
2016/0336(CNS)
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The tax bases of all members of a group shall be added together into a consolidated tax basenet taxable revenue of members of a group shall be based on their financial statements that shall be adjusted so that taxable revenues shall be all cash, exchange or barter receipts arising during or due for the period less those accounted for in previous periods, those of a capital nature and those explicitly exempted from charge; less those cash, barter or exchange payments made or due for the period that were incurred for the purposes of the trade of the corporation less those accounted for in previous periods, those that represent loan or equity capital repayment and those that are explicitly exempted from deduction; less those allowances and reliefs specifically permitted and those excesses of deductions over revenues brought forward from previous periods.
Amendment 191 #
2016/0336(CNS)
Proposal for a directive
Article 9 – paragraph 2
Article 9 – paragraph 2
2. Groups shall apply a consistent and adequately documented method for recording intra-group transactions. Groups may change the method only for valid commercial reasons and only at the beginning of a tax yearAll such transactions shall be eliminated from the tax base as a result of the consolidation required by Article 7 (1).
Amendment 194 #
2016/0336(CNS)
Proposal for a directive
Article 9 – paragraph 3
Article 9 – paragraph 3
Amendment 196 #
2016/0336(CNS)
Proposal for a directive
Article 9 – paragraph 4
Article 9 – paragraph 4
Amendment 278 #
2016/0336(CNS)
Proposal for a directive
Article 73 – paragraph 1
Article 73 – paragraph 1
For the purposes of this Directive, the scope of controlled foreign company legislation under Article 59 of Directive 2016/xx/EU shall be limited to relations between group members and entities that are resident for tax purposes, or permanent establishments or digital business establishments that are situated, in a third country.
Amendment 283 #
2016/0336(CNS)
Proposal for a directive
Article 76 – paragraph 1
Article 76 – paragraph 1
The European Parliament shall assess and be informed of the adoption of delegated acts by the Commission, of any objection formulated to them, and of the revocation of that delegation of powers by the Council.
Amendment 292 #
2016/0336(CNS)
Proposal for a directive
Article 80 – paragraph 1 – subparagraph 1
Article 80 – paragraph 1 – subparagraph 1
Member States shall adopt and publish, by 31st December 202019 at the latest, the laws, regulations and administrative provisions necessary to comply with this Directive. They shall forthwith communicate to the Commission the text of those provisions.
Amendment 299 #
2016/0336(CNS)
Proposal for a directive
Article 80 – paragraph 1 – subparagraph 2
Article 80 – paragraph 1 – subparagraph 2
They shall apply those provisions from 1st January 20210.
Amendment 85 #
2016/0276(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The EFSI, implemented and co- sponsored by the EIB Group, is firmly on track to deliver the objective of mobilising at least EUR 315 billion in additional investments in the real economy by mid- 2018. Underlines that all the projects benefiting from EFSI support should continue to do so even after the UK leaving the EU. The market absorption has been particularly quick under the SME Window where the EFSI is delivering well beyond expectations. In July 2016 the SME Window was thus scaled-up by EUR 500 million within the existing parameters of Regulation (EU) No 2015/1017. A larger share of financing to be geared towards SMEs given the exceptional market demand for SME financing under the EFSI: 40% of the increased risk bearing capacity of the EFSI should be geared towards increasing access to financing for SMEs.
Amendment 104 #
2016/0276(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) For the period after 2020, the Commission intends towill put forward the necessary proposals to ensure that strategic investment will continue at a sustainable level.
Amendment 114 #
2016/0276(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of renewable energy, environment and climate action, social and human capital and related infrastructure, social housing, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation and the creative industry. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to new motorways should be avoidedphased out, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of sustainable agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
Amendment 137 #
2016/0276(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, shcould be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 158 #
2016/0276(COD)
(11) In order to reinforce the take-up of the EFSI in less-developed and transition regionsall deprived regions in the EU, the scope of the general objectives eligible for EFSI support should be enlarged and the communication efforts around EFSI should be considerably strengthened.
Amendment 194 #
2016/0276(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instruments,. as well as to support for a stronger communication campaign in EU regions around the potential added value of EFSI for SME's.
Amendment 329 #
2016/0276(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point c
Article 1 – paragraph 1 – point 4 – point c
Regulation (EU) No 2015/1017
Article 7 – paragraph 11 – second sentence
Article 7 – paragraph 11 – second sentence
The Managing Director shall be responsible for informing the Steering Board of any such breach that comes to her/his knowledge and propose appropriate action.
Amendment 353 #
2016/0276(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
(h) sustainable agriculture, fishery and aquaculture;
Amendment 464 #
2016/0276(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Regulation (EU) No 2015/1017
Article 22 – paragraph 1 – subparagraph 3 a (new)
Article 22 – paragraph 1 – subparagraph 3 a (new)
The EIB and the EIF shall in particular not participate in any financing or investment operation where the beneficial owner or bank account holder remain unidentified.
Amendment 25 #
2016/0265(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) Reliable and relevant evidence based on European statistics is absolutely essential to measuring the progress and evaluating the efficiency of the Union’s policies and programmes, especially in the context of the Europe 2020 strategy and the Agenda for jobs, growth, fairness and democratic change. Furthermore it is important to evaluate the statistics with specific reference to the Union reducing to 27 Member States.
Amendment 39 #
2016/0265(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Better statistics are therefore crucial to achieving better results and contributing to a better Europe, and greater efforts should be made to boost investments in official statistics at both European and national levels. This should provide guidance in priority policy areas and for capacity-building, in addition to current guidance and ongoing re-prioritisation. More specifically, action should be taken to tackle the most urgent statistical gaps, increase timeliness and support political priorities and economic policy coordination through the European Semester. The Commission (Eurostat) should also provide new population projections in close cooperation with the national statistical institutes to update the analysis of the economic and budgetary implications of population ageing with particular emphasis on the impact of the refugee crisis.
Amendment 45 #
2016/0265(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Experimental ecosystem accounts and climate-change statistics, including those relevant to climate-change adaptation and ‘footprints’, should be further developed, particularly in support of the implementation of the 2015 Paris Agreement and the 2030 Agenda for Sustainable Development. The European Energy Union and the 2030 framework for climate and energy, which aims to make the Union’s economy and energy system more competitive, secure and sustainable, will require new statistics on energy consumption, energy efficiency, renewable energies, energy dependence and security of supply, energy poverty, the evolution of energy prices in relation to the evolution of average salaries and sustainable energy transition.
Amendment 82 #
2016/0221(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The market of qualifying venture capital funds and qualifying social entrepreneurship funds should be opened to increase scale effects, to reduce transaction and operational costs, to improve competition and to strengthen investor choice. Enlarging the base of prospective managers contributes to opening up that market. It should benefit undertakings seeking investment by giving them access to financing from a greater and more varied range of risk investment sources. The scope of Regulation (EU) No 345/2013 and Regulation (EU) No 346/2013 should therefore be extended by opening up the use of the ‘'EuVECA’' and ‘'EuSEF’' labels to managers of collective investment undertakings authorised under Article 6 of Directive 2011/61/EU. Given the fact that the UK venture capital market accounts for 36 % of total Union activity, appropriate measures should be adopted to ensure that the Union economy will not be cut off from this source of finance. Although the day-to-day supervision should remain the responsibility of national competent authorities as they have the technical and operational expertise of supervising individual firms, ESMA has a key role to play in ensuring supervisory convergence.
Amendment 118 #
2016/0221(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Regulation (EU) No 345/2013 and Regulation (EU) No 346/2013 now require that managers of qualifying venture capital funds and qualifying social entrepreneurship funds have sufficient own funds at all times. To ensure a consistent understanding across the Union of what constitutes sufficient own funds for those managers, the European Supervisory Authority (‘'ESMA’') should be required to draw up draft regulatory technical standards which prescribe the methodologies to determine what constitutes sufficient own funds. Where the value of the qualifying venture capital funds managed by the manager of qualifying venture capital funds is below EUR 250 000 000, own funds requirements shall represent one eighth of the preceding year's fixed overheads of the same manager.
Amendment 156 #
2016/0221(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.; These standards will be applicable to every qualifying venture capital fund registered since the adoption of these standards.
Amendment 231 #
2016/0221(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
(c) ensure that the amounts resulting from the application of those methodologies do not exceed the amounts laid down in Article 9 of Directive 2011/61/EU. Where the value of the qualifying venture capital funds managed by the manager of qualifying venture capital funds is below 250000000, own funds requirements shall represent one eight of the preceding year's fixed overheads of the same manager.
Amendment 1 #
2016/0034(COD)
Proposal for a regulation
Recital 11a (new)
Recital 11a (new)
(11a) Investment firms often execute, on their own account or on behalf of clients, transactions in derivatives and other financial instruments or assets that comprise a number of interlinked, contingent trades. Such package transactions enable investment firms and their clients to better manage their risks, with the price of each component of the package transaction reflecting the overall risk profile of the package rather than the prevailing market price of each component. Package transactions can take various forms, such as exchange for physicals, trading strategies executed on trading venues, or bespoke package transactions, and it is important to take those specificities into account when calibrating the applicable transparency regime. It is therefore appropriate to specify for the purpose of Regulation (EU) No 600/2014 the specific circumstances in which pre-trade transparency should not apply to package transactions, nor to any individual component of such transactions.
Amendment 2 #
2016/0034(COD)
Proposal for a regulation
Article 1
Article 1
(-1) In Article 1, the following paragraph is inserted: ‘6a. Title II and Title III shall not apply to securities financing transactions as defined in Article 3(11) of Regulation (EU) 2015/2365.’ (-2) In Article 2(1), the following point is inserted: '(28a) ‘securities financing transaction’ or ‘SFT’ means a securities financing transaction as defined in Article 3(11) of Regulation (EU) 2015/2365;'
Amendment 3 #
2016/0034(COD)
Proposal for a regulation
Article 1
Article 1
Amendment 2 #
2016/0033(COD)
Proposal for a directive
Article 1 – point -1 (new)
Article 1 – point -1 (new)
Directive 2014/65/EU
Article 2 – paragraph 1 – point d – point ii
Article 2 – paragraph 1 – point d – point ii
(-1) Point (d)(ii) of Article 2(1) is replaced by the following: ‘are either members of or participants in a regulated market or an MTF, on the one hand, or have direct electronic access to a trading venue, on the other hand, and in either case are engaging in a high- frequency algorithmic trading strategy on such a trading venue;’.
Amendment 56 #
2016/0011(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) Given that 'tax havens' can be classified as transparent by the OECD, proposals should be brought forward to increase the transparency of trust funds and foundations.
Amendment 62 #
2016/0011(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) It is necessary to lay down rules against the erosion of tax bases in the internal market and the shifting of profits out of the internal market. Rules in the following areas are necessary in order to contribute to achieving that objective: limitations to the deductibility of interest, exit taxation, a switch-over clause, a general anti-abuse rule, controlled foreign company rules and a framework to tackle hybrid mismatches. Where the application of those rules gives rise to double taxation, taxpayers should receive relief through a deduction for the tax paid in another Member State or third country, as the case may be. Thus, the rules should not only aim to counter tax avoidance practices but also avoid creating other obstacles to the market, such as double taxation. To get correct application of these rules, tax authorities in Member States must be properly resourced.
Amendment 75 #
2016/0011(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7a) Too often, multinational companies make arrangements to transfer their profits to tax havens without paying any tax. The concept of permanent establishment will provide a precise, binding definition of the criteria which must be met if a multinational company is to prove that it is situated in a given country. This will force multinational companies to pay their taxes directly. Companies which fail to comply with the proposals outlined in this Directive will be subject to monetary sanctions.
Amendment 84 #
2016/0011(CNS)
Proposal for a directive
Recital 9
Recital 9
(9) General anti-abuse rules (GAARs) feature in tax systems to tackle abusive tax practices that have not yet been dealt with through specifically targeted provisions. GAARs have therefore a function aimed to fill in gaps, which should not affect the applicability of specific anti-abuse rules. Within the Union, the application of GAARs should be limited to arrangements that are ‘wholly artificial’ (non-genuine); otherwise, the taxpayer should have the right to choose the most tax efficient structure for its commercial affairs. It is furthermore important to ensure that the GAARs apply in domestic situations, within the Union and vis-à-vis third countries in a uniform manner, so that their scope and results of application in domestic and cross-border situations do not differ. In order to properly tackle the potential conflicts of interests audit companies are exposed to when giving tax advice, Regulation (EU) No 537/2014 of the European Parliament and of the Council of should be amended.
Amendment 99 #
2016/0011(CNS)
Proposal for a directive
Recital 12 a (new)
Recital 12 a (new)
(12a) The funding of Member State tax authorities should be investigated to determine if they are properly equipped to conduct investigations. In light of the results of such investigations, the Commission could propose strong country specific recommendations under the EU Semester to ensure that tax authorities are sufficiently financed.
Amendment 12 #
2016/0010(CNS)
Proposal for a directive
Recital 2
Recital 2
(2) As Multi National Enterprise (MNE) Groups are active in different countries, they have the possibility of engaging in aggressive tax planning practices that are not available for domestic companies. When MNEs do so, purely domestic companies, normally small and medium- sized enterprises (SMEs) may be particularly affected as their tax burden is higher than that of MNE Groupsy pay an effective rate of tax that is much closer to statutory rates than MNEs, resulting in distortions to, and malfunctions of, the internal market. On the other hand, all Member States may suffer revenue losses and there is the risk of competition to attract MNE Groups by offering them further tax benefits. There is therefore a problem for the proper functioning of the Internal Market.
Amendment 26 #
2016/0010(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Increased transparency towards tax authorities could have the effect of giving MNE Groups an incentive to abandon certain practices and pay their fair share of tax in the country where profits are made. It would also increase the 'peer pressure' between Member States and would focus the attention of financial markets on the fiscal accountability of MNEs. Enhancing transparency for MNE Groups is therefore an essential part of tackling base erosion and profit shifting.
Amendment 31 #
2016/0010(CNS)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
(4b) When extending the automatic exchange of information at Union and global levels, due regard should be had to the European Parliament report on the proposal for a directive of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement and Directive 2013/34/EU as regards certain elements of the corporate governance statement.
Amendment 32 #
2016/0010(CNS)
Proposal for a directive
Recital 4 c (new)
Recital 4 c (new)
(4c) Due regard should also be had to the European Parliament resolution of 25 November 2015 on tax rulings and other measures similar in nature or effect.
Amendment 33 #
2016/0010(CNS)
Proposal for a directive
Recital 4 d (new)
Recital 4 d (new)
(4d) When extending the automatic exchange of information at Union and global levels, due regard should also be had to the European Parliament resolution of 16 December 2015 with recommendations to the Commission on bringing transparency, coordination and convergence to corporate tax policies in the Union.
Amendment 38 #
2016/0010(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) In the country-by-country report, MNEs Groups should provide annually and for each tax jurisdiction in which they do business the amount of revenue, profit before income tax and income tax paid and accrued, but also public subsidies received, the value of assets and annual cost of maintaining them, and sales and purchases. MNE Groups should also report number of their employees, stated capital, retained earnings and tangible assets in each tax jurisdiction. Finally, MNE Groups should identify each entity within the group doing business in a particular tax jurisdiction and should provide an indication of the business activities each entity engages in.
Amendment 39 #
2016/0010(CNS)
Proposal for a directive
Recital 7
Recital 7
(7) In order to enhance the efficient use of public resources and reduce the administrative burden for MNE Groups, the reporting obligation should only apply to MNE Groups with annual consolidated group revenue exceeding a certain amountEUR 40 million, in line with the definition of a large undertaking in Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, and consistent with the proposed country-by-country reporting in the revision of Directive 2007/36/EC. The Directive should ensure that the same information is collected and made available to tax administrations in a timely manner throughout the EU.
Amendment 47 #
2016/0010(CNS)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Member States should ensure that they maintain or increase the level of human, technical and financial resources dedicated to the automatic exchange of information and data processing within tax administrations.
Amendment 54 #
2016/0010(CNS)
Proposal for a directive
Recital 12
Recital 12
(12) TIn the absence of a Union definition of permanent establishment, the mandatory automatic exchange of country- by-country reports between Member States should in each case include the communication of a defined set of basic information that would be accessible to thoseall Member States in which, on the basis of the information in the country- by-country report, one or more entities of the MNE Group are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment of an MNE Group.
Amendment 63 #
2016/0010(CNS)
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14a) In the event that a Member State determines that another Member State persistently fails to automatically provide country-by-country reports, it should in the first instance consult that Member State and, if that does not lead to resolution of the problem, it should report that Member State to the Commission and an appropriate penalty should be imposed.
Amendment 68 #
2016/0010(CNS)
Proposal for a directive
Recital 15 a (new)
Recital 15 a (new)
(15a) This Directive is a crucial step in going beyond the OECD BEPS Action Plan, as recalled by the European Parliament in its recommendations to the Commission in order to promote transparency, coordination and convergence to corporate tax policies in the Union. In particular, it is to be considered as the first move towards the implementation of a public country-by- country reporting for MNE Groups, such as the European Parliament has referred to on several occasions, through its reports on Directive 2007/36/EC, the report of the TAXE special committee and the European Parliament’s resolution of 16 December 2015 with recommendations to the Commission on bringing transparency, coordination and convergence to corporate tax policies in the Union.
Amendment 71 #
2016/0010(CNS)
Proposal for a directive
Recital 18
Recital 18
(18) The scope of mandatory exchange of information should therefore be extended to include the automatic exchange of information of the country-by-country report. In order to enhance transparency for citizens, the Commission should publish the country-by-country reports, based on the information contained in the centralised register of country-by-country reports. In doing so, the Commission should comply with the provisions of this Directive on confidentiality.
Amendment 94 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 2
Article 8aa – paragraph 2
2. The competent authority of a Member State where the Country-by-Country Report was received pursuant to paragraph 1 shall, by means of automatic exchange, communicate the report to any otherll Member State in which, on the basis of the information in the country-by-country report, one or more Constituent Entities of the MNE Group of the Reporting Entity are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment within the deadline laid down in paragraph 4s. The competent authority of the Member State must communicate the country-by-country report to the Commission, which is responsible for the centralised register of country-by-country reports, available to its competent services.
Amendment 96 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 2 a new
Article 8aa – paragraph 2 a new
2a. The competent authority of a Member State to which the country-by-country report was sent pursuant to paragraph 1 shall, within 24 months after the end of the reporting fiscal year, communicate the report to any state belonging to the category of least developed countries (as defined by the United Nations), in which, on the basis of information contained in the statement by country, one or more constituent entities of multinational enterprises are resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment.
Amendment 98 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 3 – point a
Article 8aa – paragraph 3 – point a
(a) aggregate information relating to the amount of revenue, profit (loss) before income tax, income tax paid, income tax accrued, stated capital, accumulated earnings, number of employees, and tangible assets other than cash or cash equivalents with regard to each jurisdiction in which the MNE Group operates, public subsidies received, the value of assets and annual cost of maintaining them, and sales and purchases;
Amendment 99 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/UE
Article 8aa – paragraph 3 – point b a (new)
Article 8aa – paragraph 3 – point b a (new)
(ba) the future European tax identification number (TIN) referred to in the Commission's 2012 Action Plan to strengthen the fight against fraud and tax evasion.
Amendment 103 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
4a. In order to enhance transparency for citizens, the Commission shall publish the country-by-country reports, based on the information contained in the centralised register of country-by-country reports. In doing so, the Commission shall comply with the provisions of Article 23a on confidentiality.
Amendment 104 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2011/16/UE
Article 17 – paragraph 4
Article 17 – paragraph 4
(2a) Article 17(4) is deleted;
Amendment 133 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section I – paragraph 4
Annex – Annex III – Section I – paragraph 4
4. "Excluded MNE Group" means, with respect to any Fiscal Year of the Group, a Group having total consolidated group revenue of less than EUR 750 000 000 or an amount in local currency approximately equivalent to EUR 750 000 000 as of January 2015 during the Fiscal Year immediately preceding the Reporting Fiscal Year as reflected in its Consolidated Financial Statements for such preceding Fiscwhich does not qualify as a large undertaking as defined in Article 3(4) of Directive 2013/34/EU of the European Parliament and of the Council, meaning an undertaking which on its balance sheet dates exceeds at least two of the three following thresholds: (a) balance sheet total: EUR 20 000 000; (b) net turnover: EUR 40 000 000; (c) average number of employees during the financial Yyear: 250.
Amendment 138 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 1 – point b – point i
Annex – Annex III – Section II – paragraph 1 – point b – point i
Amendment 139 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 1 – subparagraph 2
Annex – Annex III – Section II – paragraph 1 – subparagraph 2
Where there are more than one Constituent Entities of the same MNE Group that are resident for tax purposes in the Union and one or more of the conditions set out in point (b) apply, the MNE Group mayhas to designate one of such Constituent Entities to file the country-by-country report conforming to the requirements of Article 8aa(1) with respect to any Reporting Fiscal Year within the deadline specified in Article 8aa(1) and to notify the Member State that the filing is intended to satisfy the filing requirement of all the Constituent Entities of such MNE Group that are resident for tax purposes in the Union. That Member State shall, pursuant to Article 8aa(2), communicate the country-by- country report received to any otherll Member State in which, on the basis of the information in the country-by-country Report, one or more Constituent Entities of the MNE Group of the Reporting Entity are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishments.
Amendment 141 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 2
Annex – Annex III – Section II – paragraph 2
Amendment 19 #
2015/2353(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Considers that current flexibility mechanisms are insufficient in terms of volume and flexibility to adequately respond to the changed situation; recalls that, mainly owing to a lack of resources, the Commission has set up a number of ad hoc instruments, including the Trust Funds for Syria, Africa and the Central African Republic and the Refugee Facility for Turkey; welcomes their potential to increase the EU’s financial response, but is concerned, nevertheless, about transparency and accountability and notes Member States’ failure to deliver on funding pledges; strongly calls for ensuring European Parliament representation in the Trust Funds' governing structures;
Amendment 21 #
2015/2353(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to propose a substantial reform of the flexibility mechanisms under the MFF, setting up a permanent systemEU crisis reserve that allows for the mobilisation of additional resources when needed; stresses that any emergency funding for responding to crises and unforeseen situations should by its very nature be covered by special instruments and be counted outside the MFF ceilings; believes that the possibility to transfer funds between headings would increase the ability to respond to evolving challenges;
Amendment 28 #
2015/2344(INI)
Motion for a resolution
Citation 18 a (new)
Citation 18 a (new)
– having regard to the Council conclusions, 18th and 19th February 2016;
Amendment 29 #
2015/2344(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Treaty on European Union establishes the creation of the single marketan economic and monetary union, whose currency is the euro; whereas the European Monetary Union currently consists of 19 members, two of whom have opt-out clauses,of the 28 Member States of the EU, 19 have already adopted the single currency, seven are under a derogation which applies until the Council decides that the conditions are met for its abrogation, and two Member States have, pursuant to Protocols No 15 and No 16 annexed to the Tremaining seven EU Member States having yet to joinaties, respectively no obligation to adopt the euro or an exemption from doing so (‘opt-outs’); whereas no financial liability will be incurred by the twoose countries with opt-outs from EMU in the framework of any fiscal capacity for the euro area;
Amendment 321 #
2015/2344(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses that a Eurozone fiscal capacity must be created on top of existing EU funding instruments, and within its legal framework, in order to ensure consistent development between euro and non-euro Member States; however it must be ring fenced from contributions from countries with euro currency 'opt-outs';
Amendment 432 #
2015/2344(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Insists that once it is integrated into Community law, the fiscal capacity for the euro area shouldmust be rintegrated into the EU budget, but over and above the ceilings of the Multiannual Financial Framework (MFF)g fenced from contributions from countries with euro currency 'opt-outs';
Amendment 484 #
2015/2344(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses that significant progress in convergence and sustainable structural reforms is needed in the Eurozone in order to reconcile fiscal consolidation, growth, jobs, productivity, competitiveness and the European social model so as to effectively prevent asymmetric shock; considers that financial support from the Europeanzone level for the implementation of agreed structural reforms in thEurozone Member States, while keeping the responsibility for implementation at the national level, is therefore indispensable;
Amendment 525 #
2015/2344(INI)
Motion for a resolution
Paragraph 26 – indent 1
Paragraph 26 – indent 1
– taxation: base and rate of corporate tax, in the Eurozone
Amendment 538 #
2015/2344(INI)
Motion for a resolution
Paragraph 26 – indent 2
Paragraph 26 – indent 2
– labour market, including minimum wages, in the Eurozone
Amendment 550 #
2015/2344(INI)
Motion for a resolution
Paragraph 26 – indent 3 – paragraph 1
Paragraph 26 – indent 3 – paragraph 1
Amendment 569 #
2015/2344(INI)
Motion for a resolution
Paragraph 26 – subparagraph 1 (new)
Paragraph 26 – subparagraph 1 (new)
Notes that investment in areas such as research and development is best done at an EU level, funded by the MFF which all Member States contribute towards, and not by a Eurozone fiscal capacity headed by a Eurozone Treasury; any reduction in scale of such programmes to Eurozone only countries will certainly damage the prosperity and competitiveness of the EU as a whole including Eurozone countries; optional additional contributions from Member States wishing to do more should however be possible as under EFSI;
Amendment 581 #
2015/2344(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Considers that a financial instrument is needed to work as an incentive-based mechanism for convergence and sustainable structural reforms with clear conditionality in the Eurozone; believes that the Structural Reform Support Programme (SRSP), which is designed to provide technical support to national authorities for measures aimed at reforming institutions, governance, administration, and economic and social sectors with a view to enhancing growth and jobs, can be further developed as a contribution to this function of the fiscal capacity of the Eurozone;
Amendment 632 #
2015/2344(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Points out that the Rainy Day Fund should be funded by all the Member Statescountries in the Eurozone and those intending to join the Eurozone on the basis of a cyclically sensitive economic indicator and used for payments to all Member Statesto countries in the Eurozone and those intending to join the Eurozone suffering from economic downturns;
Amendment 656 #
2015/2344(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Acknowledges that the model of a Europeanzone Unemployment Benefit Scheme would foster convergence of labour markets in the medium term;
Amendment 670 #
2015/2344(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Considers that the EMF should provide the financial resources for either of these models, which could require increasing the amount of capital; points out that the fund should avoid long-term redistribution effects by ensuring Member StatEurozone countries’ contributions are balanced over the cycle;
Amendment 744 #
2015/2344(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Points out that the fiscal capacity has to be of significant size in order to be able to address these euro-area-wide shocks and to finance its functions; insists that in order to provide sufficient financial resources, the euro area fiscal capacity, including the EMF, should be able to increase the issuance of equities via a rise in guarantees; considers that these common issued equities should have the highest credit rate;
Amendment 788 #
2015/2344(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Considers that in order to provide for a genuine EMU, a euro area treasury should be created for collective decision- making, supervision and management of the budgetary capacity for the euro area; calls foron the inclusion of this treasury within the European Commission with full macroeconomic, fiscalCommission to come forward with options as to how this treasury could be resourced, and how it would interact with existing Union institutions, in such a way as to ensure democratic accountability and financial competences; calls for a vice-president of the European Commission to head the treasury and simultaneously to act as president of the Eurogroup; urges full accountability of this treasury to the European Parliament particular to guarantee that, on the one hand, Member States not participating in the further deepening of the EMU cannot create obstacles to such further deepening, while on the other hand respecting the rights and competences of the non-participating Member States; calls on the Commission to ensure that the creation of a euro area treasury is consistent with the continued coexistence of different perspectives within the single institutional framework ensuring both the effective operability of Union mechanisms and the equality of Member States before the Treaties;
Amendment 810 #
2015/2344(INI)
Motion for a resolution
Paragraph 42
Paragraph 42
42. Considers that those non-euro countries that do not have an opt-out will eventually become part of the EMU and therefore may join the governance framework on a voluntary basis with a special status; opt-out countries may observe;
Amendment 831 #
2015/2344(INI)
Motion for a resolution
Paragraph 44 – subparagraph 1 (new)
Paragraph 44 – subparagraph 1 (new)
Member States outside the Eurozone (wish to create new heading after paragraph 44)
Amendment 832 #
2015/2344(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. Recognises that the Treaties allow an evolution towards a deeper degree of integration among the Member States that share such a vision of their common future, whilst other Member States are not committed to further integration; coexistence and respect for differing perspectives must be maintained under the single institutional framework;
Amendment 834 #
2015/2344(INI)
Motion for a resolution
Paragraph 44 b (new)
Paragraph 44 b (new)
44b. Recognises that Member States have the right to decide the fundamental principles of their social security systems and enjoy a broad margin of discretion to define and implement their social and employment policy; believes that any proposals for social or employment policy should be open to all participation 28 Member States and discussion of such matters to include the full European Parliament and Council not only representatives from Eurozone countries;
Amendment 835 #
2015/2344(INI)
Motion for a resolution
Paragraph 44 c (new)
Paragraph 44 c (new)
44c. Emphasises that advances in consumer, employee, health, and environmental protection must be open to all Member States and discussion must include representatives from all Member States and the full European Parliament so as not to discriminate between EU citizens and maintain a level playing field for businesses and citizens across the EU;
Amendment 836 #
2015/2344(INI)
Motion for a resolution
Paragraph 44 d (new)
Paragraph 44 d (new)
44d. Underlines that prosperity of the EU is improved by the continuing universality of many EU programmes and policies such as Horizon 2020, EFSI, COSME, and ERDF; EU wide cooperation and solidarity in this respect must be protected;
Amendment 5 #
2015/2275(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
- having regard to resolution of the ACP- EU Joint Parliamentary Assembly of 9 December 2015 on 'The evaluation of the African Peace Facility after ten years: effectiveness and prospects for the future',
Amendment 66 #
2015/2275(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the perceived legitimacy of a PSO is key to its success; believes to this end that the AU should contribute the military forces wherever possible; notes that this is also important with regard to the long term self-policing aims of the AU; underscores that with a view on legitimacy, ensuring accountability for any crimes committed by personnel employed in the context of a PSO is vital; calls on the EU and its Member States to be a driving force in the UN and in relations with the AU for reforming and strengthening accountability systems in the framework of peacekeeping and peace support operations;
Amendment 147 #
2015/2272(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that a principaln objective should be to move towards voluntary joint defence forces and the framing of a common defence policy which will ultimately lead to a common defence. Supports, therefore,; Supports the drafting of a White paper on EU Defence, thereby updating the Helsinki Headline Goal from 1999;
Amendment 244 #
2015/2272(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for sustainable management of asylum and migration policies on the basis of common principles and solidarity; in this context, asks the Commission to propose effective and sustainable solutions; believes that in this regard the EU should promote a more practical and comprehensive approach to assistance in Africa; urges EU Member States to adopt swift and comprehensive measures in the Council to address the current refugee crisis in line with the EU's values and obligations under international law;
Amendment 275 #
2015/2272(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that the EU should be a constructive and resilient global actor with a regional focus and aspire to be a ‘rule- maker’, establishing efficient multilateral global governance; urges the EEAS and Commission to jointly develop EU strategies to protect and promote EU common interests in response to developments in the field of global governance, such as the establishment of new international or regional financial institutions and organisations;
Amendment 118 #
2015/2258(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses that transparency and accountability are essential requirements not only for democratic scrutiny but also for the adequate functioning, and the credibility, of missions carried out under the EU flag; welcomes the reporting mechanisms provided for by the interinstitutional agreement of 2 December 2013, such as the joint consultation meetings on CFSP and the quarterly reports on the CFSP budgetquarterly reports on the CFSP budget and the joint consultation meetings on CFSP; welcomes the commitment made by the VP/HR to breathe new life into the latter meetings and to introduce an appropriate degree of flexibility regarding their scope in order to keep Parliament fully informed on military missions and on the work and agenda of the Political and Security Committee; calls on the Commission to make an extensive interpretation of Article 49 (1) (g) of the Financial Regulation and to propose specific lines for each civilian CSDP mission under the CFSP chapter;
Amendment 27 #
2015/2234(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the Philippines recently expressed its interest in joining the Trans- Pacific Partnership and is currently in consultation with the US on acceding to the agreement;
Amendment 42 #
2015/2234(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Considers that the EU should continue providing support and capacity-building assistance to the Philippines for the promotion of peace, reconciliation, security and judicial reform, and assisting the country in disaster preparedness, relief and recovery and the implementation of effective policies to tackle climate change;
Amendment 55 #
2015/2234(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for the EU and its Member States to engage with the Philippines to exchange intelligence, cooperate and provide support to the government’s capacity building in the international fight against terrorism and extremism while maintaining strict adherence to human right commitments and providing for specific safeguards and guidance to monitor compliance;
Amendment 69 #
2015/2234(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Welcomes commitments made by the Philippines as a founding member of the Open Government Partnership to improve relations with civil society; urges Philippine authorities to root out repression against political activists and human rights defenders and address structural shortcomings in the criminal justice system leading, inter alia, to their arbitrary detention; expresses particular concern with regard to repression faced by activists peacefully campaigning to protect their ancestral lands from the impact of mining and deforestation;
Amendment 76 #
2015/2234(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Encourages the Philippines to continue improving the investment climate by increasing transparency and good governance implementing the UN guiding principles on business and human rights and further developing infrastructure, where appropriate through public-private partnerships;
Amendment 85 #
2015/2234(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Looks favourably upon the scoping procedure on a future Free Trade Agreement with the Philippines; underscores that such an FTA should serve as a building block towards a region-to-region EU-ASEAN agreement on trade and investment; urges the Commission and Philippine authorities to ensure high standards on human rights, labour and the environment in the context of a future FTA, including through the implementation of a human rights impact assessment and the establishment of a human rights monitoring mechanism; calls for capacity building to enhance the settlement of complaints by affected individuals and communities;
Amendment 116 #
2015/2221(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that economic recovery is underway but is still fragile and modest, inflation remains below its target, credit dynamics are still subdued in many jurisdictions and a large stock of non- performing loans weighs on many European banks’ balance sheets, limiting their capacity to finance the economy; regrets that the amount of non- performing loans went only down just 2% in the past 12 months according to a recent study; stresses that the ability to write off or sell-on non-performing loans is vital, as it frees up capital to fund new loans to boost the real economy;
Amendment 137 #
2015/2221(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that the worldwide drive towards more and better quality bank capital and less leveraged banks is a necessary condition for a sound banking system capable of supporting the economy and for avoiding any repeat of the enormous bailouts witnessed during the crisis;
Amendment 146 #
2015/2221(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that an increase in capital requirements, beyond a certain threshold, may in the short term induce banks to curtail the supply of credit, and therefore looks forward to an overall stabilisation of the level and the quality of capital;
Amendment 177 #
2015/2221(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses the importance of the work that has been undertaken on the homogenisation of the calculation of risk- weighted assets, which is pivotal for comparability purposes, and on the review of internal models for the calculation of banks’ capital requirements, and considers swift progress in this area, for all portfolios, crucial in order to preserve the effectiveness and credibility of banking supervision in the euro area;
Amendment 186 #
2015/2221(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Considers that appropriate attention should be paid to increased exposure in the form of off-balance sheet items, in particular for global systematically important banks (G-SIBs); underlines in this respect the need to be vigilant about the development of the shadow banking sector;
Amendment 196 #
2015/2221(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Believes that the ECB’s supervisory strategy, while avoiding any differentiation along national lines, should reflect and safeguard pluralism of banking models across the EU; wonders however whether the significant level of fragmentation in the European banking landscape is always beneficial to the final consumer;
Amendment 334 #
2015/2221(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Welcomes the Commission’s announcement regarding the presentation of a legislative proposal for the first steps towards a European Deposit Insurance Scheme (EDIS) by establishing a reinsurance mechanism at EU level for the national deposit guarantee schemes and looks forward to a swift adoption of EDIS to complete this pillar of the Banking Union;
Amendment 11 #
2015/2163(DEC)
Draft opinion
Paragraph 4
Paragraph 4
4. Emphasises that EU Heads of Delegation continue to be overburdened with administrative tasks due to the inflexibility of the financial regulation; welcomes in this context the discussion on the possible pilot project to establish a regional administrative support centre for Europe that will alleviate some of these burdens and may form part of a broader future solution; repeats its call on the Commission and the EEAS to consider all solutions to this problem, which could also entail possible changes to the financial regulation, while stressing that high standards in terms of the quality of financial management should prevail;
Amendment 15 #
2015/2163(DEC)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Reiterates the need to improve cooperation between Member States in their foreign and security policy in order to achieve cost savings; stresses that this is of crucial importance in view of the significant decrease in the EU's collective performance in these areas which threatens to undermine the ability of Member States to respond decisively to shared security challenges during a period in which these are markedly on the rise;
Amendment 18 #
2015/2163(DEC)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Urges the EEAS and the Commission to implement lessons learnt from the Eulex case in close coordination with Parliament, jointly exploring ways to implement the recommendations contained in the Jacqué report commissioned by the HR/VP and address any outstanding issues;
Amendment 9 #
2015/2154(DEC)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Reiterates its call to the Commission to develop proposals to reform financial rules in order to avoid delays in operational disbursement, including by allowing the fast-track procedure, currently available for humanitarian assistance to be used for crisis management while ensuring coherence with EU long-term strategic goals;
Amendment 3 #
2015/2147(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that sustainable economic growth in Europe can onlyin particular be achieved through productivity gains and developing sectors characterised by high added value; encourages in this sense all the efforts made by the Commission in supporting the transition towards a digital economy; stresses the need to establish global links.
Amendment 34 #
2015/2147(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Points out that, for the digital economy to flourish, access to capital for both new and existing enterprises must be improved; welcomes the work of the Commission on the Capital Markets Union; encourages further legislative harmonisation in areas such as crowd-funding and digital currencies; underlines further the need to stimulate the venture capital regime in the EU.
Amendment 54 #
2015/2147(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Considers that a truly pan-European approach to cross-border taxation systemissues is needed to create a true European Single Market and to prevent the tax avoidanceaggressive tax planning practices used by several digital platforms, as highlighted by recent inquiries; calls on the Commission to support extending thmake public country-by- country reporting regime on taxesmandatory and public for multinational companies toin all sectors;
Amendment 85 #
2015/2147(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Supports the Commission’s decision to review internet platforms; encourages the Commission to create a legislative framework specifying the exact role of intermediaries, ensuring the development of innovative ideas, protection of work standards and compliance with existing fiscal rules;
Amendment 87 #
2015/2147(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Supports the Commission’s decision to review internet platforms; encourages the Commission to create a legislative framework ensuring the development of innovative ideas, protection of work standards and compliance with existing fiscal rules; encourages the Commission, when doing so, to ensure that this legislative framework encourages online platforms to do more to ease administrative burdens on the smallest online businesses that make use of their services;
Amendment 95 #
2015/2147(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the Council and the Commission to immediately suspend the new rules on place of supply for VAT on digital services for the first €20,000 of cross-border digital sales and allow businesses to return to being subject to their domestic VAT rules for that revenue; calls for this suspension to apply for as long as it takes the Commission to introduce the common EU-wide Digital VAT threshold which was promised in the Digital Single Market Strategy, and again at the FISCALIS conference in September 2015;
Amendment 101 #
2015/2147(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Believes that the development of a European digital economy requires a sufficient level of competition and plurality of service providers, and u. Considers some digital initiatives as an opportunity to modernise existing legislation while ensuring and safeguarding social rights. Underlines that the presence of network effects allows for the creation of semi- monopolistic positions; supports the Commission’s efforts in preventing and punishing abuses; encourages the Commission to remove barriers to entry in the field of digital economy in sectors where few players, according to the Commission’s competition standards, are dominant; supports actions for stronger interoperability and portability across all digital sectors as a further way of opening the market to competition.
Amendment 99 #
2015/2132(BUD)
Motion for a resolution
Paragraph 67 c (new)
Paragraph 67 c (new)
67c. Stresses that Parliament and the Council must address the need for a roadmap to a single seat, as requested by the large majority of this Parliament in several resolutions, in order to create long term savings in the Union budget;
Amendment 5 #
2015/2127(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Takes note of the 2014 EIB Annualctivity Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at the increasingbout still very high unemployment, inequality and poverty levels, as well as weak investment in Europe and the continuous uncertainty in the financial markets, also in view of a worsening global economic outlook;
Amendment 18 #
2015/2127(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets that overall EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that this constitutes a major challenge for the EIB Group and will require extraordinary efforts from its side for the years to come, as part of an overall EU effort to implement a renewed long-term strategy for sustainable, convergent and inclusive growth;
Amendment 27 #
2015/2127(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the urgent need for an increase in EIB lending activityGroup investment activity, including innovative financial instruments with greater additional risk-bearing capacity, and for the improvement of its activity in line with Protocol (No 28) on Economic, Social and Territorial Cohesion;
Amendment 43 #
2015/2127(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the EIB Group to re-examine its strategic planning programme, given the high degree of concentration of funding for the four biggest economies in the EU accounting for more than 45%, and the disproportionate rise in unemployment levels and investment gaps in some other countries which remains at alarming levels, and which could hamper economic convergence in the EU and further damage growth prospects and social cohesion in specific countries and regions in the EU;
Amendment 60 #
2015/2127(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Takes note ofWelcomes the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way, to honour fully the requirement of additionality, and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmewhere investment gaps have widened most during the economic crisis and regions which have difficulties in attracting funding because of their high risk environment; their geographical or historical disadvantage translates into a higher high risk profile in an economic environment marked by uncertainty; Regrets the selection procedure used to appoint the Managing Director and the Deputy Managing Director and stresses the need to finalise as soon as possible the inter-institutional agreement between the EIB and the Parliament on reporting and on the selection procedure for both positions;
Amendment 69 #
2015/2127(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Urges the EIB Group to develop an increased focus on economic and labour market resilience in the context of technological changes, environmental constraints, globalisation and demographic trends; calls on it to prioritise investment operations with high potential in terms of job creation and environmental sustainability, particularly in areas of greatest need, and to expand its cooperation with other development banks in this direction;
Amendment 70 #
2015/2127(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Calls on the EIB Group to consider strengthening non-financial criteria in its project assessment models, giving greater weight to projects' contribution to sustainable and inclusive development and cohesion in line with Protocol (No 28) on Economic, Social and Territorial Cohesion, while aiming at maximum transparency;
Amendment 88 #
2015/2127(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EIB Group to refrain from cooperating with financial partners with a negative track record, particularly in the field of corporate taxation, and to enforce prevention measures against tax havens, tax fraud and tax evasion as well as aggressive tax avoidance; requests a list of outstanding EIB Group transactions involving counterparts established in jurisdictions featuring on the Commission's list of "top 30" tax havens around the world;
Amendment 112 #
2015/2127(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls on the EIB Group to further enhance transparency and access to information both internafor the Parliament and other EU institutions as welly ands for the public, especially regarding the selection, monitoring and evaluation of activities and programmes;
Amendment 128 #
2015/2127(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Requests the EIB Group to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; calls on the EIB Group to engage in deeper dialogue with the Parliament on all its activities within the same scheme for reporting and accountability as set out in the EFSI regulation and to fully comply with the spirit and letter of the EFSI regulation, notably concerning inter-institutional cooperation with the Parliament.
Amendment 59 #
2015/2115(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Deplores the existing gap between financing rates granted to SMEs and those granted to bigger companies; considers that this long-standing problem is not appropriately addressed by the recent measures implemented by the ECB to boost bank lending; Stresses its concern regarding the considerable fragmentation of lending conditions for SMEs across the euro area countries.
Amendment 194 #
2015/2115(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recalls that the monetary dialogue is important to ensure the transparency of monetary policy, vis-à-vis the European Parliament and the wider public;
Amendment 218 #
2015/2115(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Underlines the need for more democratic accountability in view of the new responsibilities conferred on the ECB regarding supervisory tasks, as well as its involvement in the Troika and Quadriga programmes, while also stressing the ECB’s independence in the field of monetary policy and the need to avoid any conflict of interest in the execution of its functions;
Amendment 251 #
2015/2115(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Asks the ECB to examine and tackle the gender imbalance factor on its Council when its membership is renewed;
Amendment 263 #
2015/2115(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the current structure of the Banking Union should be complemented in the future with a single mechanism to guarantee bank deposits, aimed at avoiding capital flight in the event of a future banking crisis;. Welcomes in this regard the announcement of the Commission to launch a proposal before the end of this year.
Amendment 278 #
2015/2115(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the capital market union project and its potential contribution to reducing excessive dependence of euro area economies on the banking system and its potential capacity to channel funds towards the economy more efficiently;
Amendment 59 #
2015/2106(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is concerned aboutNotes the increased complexity, reflected in the greater amount, detail and number of layers of regulation and supervision with requirements at international, European and national level;
Amendment 98 #
2015/2106(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines the need to take stock of the financial services framework; notes that similar exercises are being undertaken in other jurisdictions, notably in the US; stresses in this perspective that legislative initiatives taken under the CMU are in line with initiatives taken in other jurisdictions;
Amendment 117 #
2015/2106(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes that consumer protection does not necessarily entail large volumes of information; is concerned that the multiplicity of customer information might not ultimately serve real customer needs; points to the necessity of a European initiative for more and better financial education at the latest by the end of 2016;
Amendment 142 #
2015/2106(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 187 #
2015/2106(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Underlines the potential of innovative market based funding; highlights especially the opportunities of financial technologies in matching projects and businesses with small scale investors and capital markets, including crowdfunding and peer-to-peer loans; asks the Commission to give breathing space for the emergence of these new models and limit its role to exploring and promoting these alternatives, giving priority to its cross border dimension;
Amendment 237 #
2015/2106(INI)
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
17c. Welcomes the upcoming review of the Prospectus Directive; stresses that the review should be geared towards reducing costs and simplifying procedures to SMEs whilst striking the right balance with investor protection;
Amendment 243 #
2015/2106(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recognises the efforts made to establish a more transparent securitisation market; stresses the need to set up of a data repository which would register each securitisation’s participants while also tracking aggregate exposures and flows between market participants; invites the Commission to propose an appropriate prudential treatment of simple and standard securitisations enabling to attract long term investors without putting the financial system at risk; does not believe there is a need to revitalise synthetic securitisation given the risks and the problems in the past; emphasises that stringent requirements for underlying high- quality assets and calibrations according to the actual risk profile are necessary, bearing in mind the riskiness of securitisation as shown during the crisis; calls on the Commission to conduct a thorough assessment of the benefits of securitisation for SMEs and the marketability of securitisation instruments as a matter of priority, and to report to Parliament;
Amendment 256 #
2015/2106(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Underlines the need to streamline the content and frequency of reporting requirements, also by providing entities with one point of contact, in order to avoid any duplication of requirements and reporting channels; calls on the Commission, ESAs and SSM to examine which data are actually needed, to align templates and to provide for simplifications and, for SMEs, exemptions;
Amendment 269 #
2015/2106(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that efforts for a cultural change in the financial sector have to be pursued further in particular by tackling excessive risk taking and excessive remuneration; acknowledges the benefits of relationship banking for consumers and SMEs;
Amendment 301 #
2015/2106(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. PoUnderlintes to the importance ofhat equivalence decisions are needed today in addressing obstacles regarding market access and the respective regulatory frameworks, bearing in mind that such unilateral decisions must benefit European businesses and consumers; notes however that such equivalence decisions should be adopted faster in a consistent and coherent framework and underlines the need to evolve towards a system of more mutual recognition of each other’s legislation;
Amendment 315 #
2015/2106(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes that better financial regulation starts with Member States applying the current acquis; considers that gold-plating does not facilitate the functioning of the internal market and only increases the fragmentation; asks the Commission to come up by end of 2016 to the Parliament with a thorough analysis report of all gold plating measures taken by Member States in field of financial legislation;
Amendment 379 #
2015/2106(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Calls on the Commission and ESAs to conduct regular (at least annual) coherence and consistency checks on the implementation of adopted legislation, also on a cross-sectoral basis and on every draft legislative act, and to dedicate resources to this activity;
Amendment 386 #
2015/2106(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Calls on the Commission and ESAs to conduct regular (at least annual) proportionality checks, particularly with regard to the requirements applicable for small and medium-sized market participants and on every draft legislative act, and to dedicate resources to this activity;
Amendment 416 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 3
Paragraph 43 – indent 3
– the actual and expected economic effects, as well as the competitiveness of the European financial sector in the world,
Amendment 418 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 4
Paragraph 43 – indent 4
– the possibilities to benefit the real economy, and to benefit the job market,
Amendment 57 #
2015/2104(INI)
Motion for a resolution
Recital M
Recital M
M. whereas the EU carries the biggest financial burden in international development cooperation, since more than half of Official Development Assistance worldwide is provided by the EU and its Member States; whereas EU development policies have high quality by promoting effectively poverty reduction and economic, social and environmental sustainability; whereas increased activity of third actors like the BRICS in the field of global governance requires the EU to develop a strategic approach in order to ensure the effectiveness of its actions in this field;
Amendment 66 #
2015/2104(INI)
Motion for a resolution
Recital O
Recital O
O. whereas the EU is the most dedicated defender and promoter of human rights, cultural values, democracy and the rule of law, whose provisions are included in all its bilateral partnerships and have a central position in its multilateral policy; whereas, however, the EU should continuously strive for enhancing the effectiveness of its actions in these fields, also taking into account the policies adopted in these fields by third actors;
Amendment 83 #
2015/2104(INI)
Motion for a resolution
Recital T a (new)
Recital T a (new)
Ta. whereas the UN has failed to act decisively to end mass atrocities due to repeated paralysis over crises in the Security Council;
Amendment 103 #
2015/2104(INI)
Motion for a resolution
Recital Z a (new)
Recital Z a (new)
Za. whereas it is crucial that actions undertaken in the framework of the UN respect international law; whereas crimes perpetrated under a UN mandate are extremely harmful to the organisation's credibility and should not be met by impunity;
Amendment 104 #
2015/2104(INI)
Motion for a resolution
Recital Z b (new)
Recital Z b (new)
Zb. whereas many of those who have exposed wrongdoing in the organisation have complained about a lack of protection and even retaliation; whereas the protection of whistleblowers is crucial for tackling misconduct and corruption in the UN;
Amendment 235 #
2015/2104(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. With a view to ensure the necessary legitimacy, efficiency and effectiveness of the decisions that this Sustainable Development Council would take, considers that its status and composition should be similar to those of the Security Council with a few permanent members, including the EU, and rotating ones, reflecting geopolitical reality as well as ensuring a proper balance between developed and developing countries; considers however that no justification whatsoever can be found to entitle a country or a regional organisation to the right to stop any decision taken by a majority or a qualified majority of the members, and therefore rejects any form of veto right;
Amendment 261 #
2015/2104(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is of the view that the Sustainable Development Council should coordinate also the work of the World Bank Group, the International Monetary Fund and the World Trade Organisation, as well as consider the development of links with new institutions that are being established like the Asian Infrastructure Investment Bank, to ensure that their respective decisions are taken and actions are carried out in an efficient and coherent fashion; in the same spirit, is therefore of the opinion that the activities of the unofficial G-20 Group should be merged to those of this Council;
Amendment 293 #
2015/2104(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Stresses that besides these necessary reforms to be carried out within the UN a better achievement of EU foreign policy goals, including the promotion of fundamental values, implies a more effective coordination of the various dimensions of all its external policy, both bilateral and multilateral; underlines that this includes the need to strategically adapt its foreign policy to the advent of new strong actors on the global scene, including the BRICS;
Amendment 308 #
2015/2104(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Urges the Vice-President of the Commission / High Representative to work towards the development of a common EU position on main issues where reform is needed within the UN system, including Security Council Reform, revitalization of the General Assembly, and management reform;
Amendment 309 #
2015/2104(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Vice-President of the Commission / High Representative to encourage the adoption of measures to ensure protection for whistleblowers, proper and independent investigation of allegations of crimes, including recent allegations of sexual abuse and exploitation perpetrated by UN troops in the Central African Republic, as well as full accountability for crimes, including by amending the legal regimes that govern personnel involved with peacekeeping missions;
Amendment 12 #
2015/2096(INI)
Motion for a resolution
Recital C
Recital C
C. whereas Vietnam over the past decades has consistently adopted a markedly pro- European approach and has been actively engaged with the EU as the ASEAN country coordinator for ASEAN-EU Dialogue Relations from 2012-2015 and as host of the 132nd Inter-Parliamentary Union Assembly (IPU) in Hanoi from 28 March to 1 April 2015; whereas its coordinatorship was marked by a significant increase in the number and level of meetings between the EU and ASEAN;
Amendment 16 #
2015/2096(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the impact of the ‘doi moi' (renovation) policy and steps towards establishing a market economy have also led to an increase in the poverty gap; whereas protests over land and property seized by the government have increased; whereas, however, the global recession hurt Vietnamese exports, with GDP in 2014 growing at one of the slowest rates since the end of the Asian economic crisis; whereas Vietnam faces the challenge of a labour force that is growing by more than one million every year;
Amendment 25 #
2015/2096(INI)
Motion for a resolution
Recital I
Recital I
I. whereas tensions have risen between China and neighbouring countries, including Vietnam, regarding contested areas in the South China Sea; whereas resolving these tensions constitutes a major strategic interest for the EU, in view of maintaining global security as well as securing stability in major maritime routes in the South China Sea that are vital to EU trade;
Amendment 34 #
2015/2096(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the conclusion of the Comprehensive Partnership and Cooperation Agreement with Vietnam underlining the major strategic importance held by Vietnam as a crucial partner of the EU in South East Asia and ASEAN; calls on the governments and parliaments of the Member States to speed up the ratification process in order to ensure that the agreement can enter into force;
Amendment 54 #
2015/2096(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Welcomes the EU ODA budget increase for Vietnam to EUR 400 million in 2014-2020; urges the Commission to invest in increasing the visibility of EU activities in and support to Vietnam to maximize the strategic potential of these resources;
Amendment 56 #
2015/2096(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Encourages the EU to continue Vietnam's capacity development in promoting respect for good governance and rule of law and welcomes the focus of EU cooperation on reforms of public administration including on taxation, which is key for ensuring the maximisation of internal revenue generation capabilities and combating tax evasion and corruption;
Amendment 62 #
2015/2096(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Reiterates its demand to establish a legal link between the FTA and the PCA to include the possibility of suspension of the FTA in case of severe human rights abuses and reiterates its request to the Commission to proceed urgently with the human rights impact assessment on the planned FTA as called for by the EU Ombudsman;
Amendment 74 #
2015/2096(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the Vietnamese Government to make concrete progress on the implementation of the UPR recommendations, starting with the creation of an independent National Human Rights Institution; urges the Commission to provide Vietnam with the necessary capacity building support to this effect;
Amendment 95 #
2015/2096(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Expresses concern about reports regarding the large numbers of children falling victim to child prostitution, trafficking or maltreatment; notes this in particular with regard to boys, who are not protected against sexual abuse under the current criminal code in Vietnam; urges the government of Vietnam to develop strong and effective child protection laws that protect all children regardless of their gender; calls on the Commission to support the government of Vietnam to this effect;
Amendment 96 #
2015/2096(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Expresses concern about Vietnam constituting one of the major source countries outside the EU for victims of human trafficking, and calls on the Commission to support Vietnam in strengthening its capacities in the field of migration policies and the fight against human trafficking and organised crime, including in the context of its labour and migration policies;
Amendment 98 #
2015/2096(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Expresses concern about reports regarding the exploitation of Vietnamese victims of human trafficking, including minors, in EU member states, and urges the Commission to ensure that key protection provisions set out in the EU Strategy towards the Eradication of Trafficking in Human Beings, including the establishment of national and transnational referral mechanisms, are fully implemented;
Amendment 99 #
2015/2096(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14c. Encourages the government of Vietnam and the Commission to consider the establishment of a subcommittee or specialised working group on the issue of human trafficking under the Partnership and Cooperation Agreement in order to strengthen cooperation in this field;
Amendment 104 #
2015/2096(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the extensive legal commitments by the Vietnamese authorities to promoting gender equity and combating discrimination, but expresses concern that domestic violence, trafficking of women and girlschildren, the growing problem of HIV/AIDS among women, violations of sexual and reproductive rights remain serious problems; urges notably the Vietnamese Government to abolish the discriminatory system of the ‘Hộ khẩu' (family register);
Amendment 118 #
2015/2096(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Urges the Vietnamese Government to introduce measures to guarantee the effective enforcement of legislation to protect the environment and biodiversity; calls on the Commission to provide the necessary capacity building support to this effect;
Amendment 127 #
2015/2096(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls on China and the neighbouring countries concerned including Vietnam to intensify efforts to defuse tension in the contested area in the South China Sea which risks to jeopardize major EU interests in the region, including in terms of global security and preserving the stability of major maritime routes that are vital for EU trade; urges the Commission and Vice-President of the Commission / High Representative to actively monitor the situation and support a solution of the dispute in accordance with international law;
Amendment 2 #
2015/2037(INI)
Motion for a resolution
Recital B
Recital B
B. whereas Member States have agreed on the need to develop a European market for defence equipment and services; whereas the European Council has even called for the establishment of an EU-wide security of supply regime; whereas adequate capabilities and supply of equipment and the strategic autonomy of the EU are of crucial importance for the security of the Union and that of its neighbourhood; whereas at the same time this will allow the EU to develop itself as a strong and efficient actor within NATO;
Amendment 27 #
2015/2037(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is gravely concerned over the surge in armed conflict, hybrid war, instability and widespread human rights violations in the EU’s immediate neighbourhood and the threat of terrorism inside the EU; believes that the current security threats are common to the EU as a whole and should be addressed in a united and coordinated fashion, pooling and sharing civilian and military resources; believes, in this regard, that it is imperative not to waste resources and that it is essential to better use tax payers’ money and make progress on the establishment of a European defence equipment market and to develop a European Defence Technological and Industrial Base (EDTIB); also believes this will be crucial to increase efficiency and cost-effectiveness of EU action within the framework of NATO operations to guarantee security and stability in the EU and its neighbourhood;
Amendment 128 #
2015/2037(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Considers mutual assurances of SoS between the Member States to be a fundamental element in the construction of an integrated European defence market; welcomes the EDA’s updated framework arrangement on SoS as an instrument which strengthens mutual confidence, but notes that it does not create any legal obligations; takes the view that the EU- wide SoS regime needs to be based on legislation, and in particular on the full implementation of the directive on intra- EU transfers in order to remove barriers to the movement of defence products inside the EU;
Amendment 54 #
2015/2003(INI)
Motion for a resolution
Recital B
Recital B
B. whereas, under the current leadership of Communist Party of China (CPC) General Secretary and President Xi Jinping, China has launched a flurry of initiatives, including a strategically important energy deal with Russia, the establishment of the Asian Infrastructure Investment Bank (AIIB) and a ‘New Silk Road’ project to integrate China economically with Central Asia and, ultimately, with Europe and Africa; whereas China over the past years has been pursuing increasingly active investment policies in the EU as well as its Eastern neighbourhood;
Amendment 64 #
2015/2003(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the 2015 Chinese stock market crash negatively impacted on global financial stability, including in the EU;
Amendment 138 #
2015/2003(INI)
Motion for a resolution
Recital O a (new)
Recital O a (new)
Oa. whereas the EU Ombudsman in her draft recommendation adopted on March 26 2015 criticised the absence of a human rights impact assessment on the Investor- State Dispute Settlement mechanism in negotiations for a trade and investment agreement with Vietnam; whereas this sets an important precedent for negotiations on the EU-China Bilateral Investment Agreement;
Amendment 227 #
2015/2003(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines the Chinese interest in strategic infrastructure investments in Europe; urges the HR/VP and Commission to reflect on the impact of China's global investment policy as well as its investment activities in the EU and its Eastern Neighbourhood; concludes, with regard to Beijing's demand for ISDS procedures as an essential element of a BIT, that Brussels should reciprocally demand that provisions be included in the BIT that guarantee better access for and fairer treatment of EU companies on the Chinese market; urges the Commission to carry out a Human Rights Impact Assessment to ensure that the inclusion of an ISDS system will not negatively impact on human rights;
Amendment 260 #
2015/2003(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Expresses concern over the expected adverse impact of recent financial developments in China on the European economy given the country's prominent role in global trade and the global financial system;
Amendment 336 #
2015/2003(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that President Xi Jinping's Chinese Dream of national rejuvenation, which foresees a stronger and more pro- active role for China in the world, calls for a commensurate EU strategy towards Asia within a transatlantic context; and encourages the HR/VP to explore possibilities to develop a common approach to China with the US wherever this would contribute to advancing EU interests; stresses that China's rise as a global power requires a reconsideration of Europe's strategic priorities in its relations with China as a matter of urgency;
Amendment 372 #
2015/2003(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Urges the Chinese government to exert influence on Pakistan to refrain from fuelling instability in the region;
Amendment 421 #
2015/2003(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Criticises the fact that in China freedom of religion is not a right, but a matter for the state, which sets the limits of what is permissible; supports the resistance of Chinese churches against the government's renewed strategy of ‘sinicisation' of Christianity; condemns, in parurges the Chinese government to fully respect freedom of religious belief as sticpular, the ongoing anti-Christian campaign in the province of Zhejiang, during which dozens of churches were demolished and more than 400 crosses removed in 2014; shares the concerns of churches abted in its constitution and immediately desist persecution, repression and 'sinicisation' of all religiouts other provinces where there is a strong Christian presencerganisations and groups;
Amendment 212 #
2015/2002(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Regrets the limited resources allocated to the EU's cooperation with its partners within its neighbourhood, notably in comparison with other stakeholde significantly higher levels of resources invested in ENP countries by stakeholders from third countries; notes that this undermines the EU's ability to promote and implement policies that are in line with its strategic interests in its neighbourhood in the face of global competitors;
Amendment 230 #
2015/2002(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the EU to improve its coordination with other donors and international financial institutions and calls for joint programming with its Member States; considerunderscores that better coordination with the Member States is necessary in order to achieve a common approach to the short- and medium-term goals of the EU's cooperation with neighbouring countries and calls for a discussion to be opened on this matter with the Council;
Amendment 312 #
2015/2002(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers support for democracy, the rule of law and human rights to be central to the ENP; underscores that no policies that contribute to jeopardizing these core values should be adopted under the ENP; stresses that the EU should be willing to offer incentives and know-how to help overcome the social challenges and economic costs of undertaking democratic reforms;
Amendment 443 #
2015/2002(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for the revised policy to support partner countries in building proper state structures to deal with security issues, such as effective law enforcement, intelligence and security, which should be developed in full respect of human rights and accompanied by proper parliamentary oversight; stresses that the EU should engage in areas such as security sector reform;
Amendment 599 #
2015/2002(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Notes that high unemployment, social exclusion and poverty, combined with the low political and socio-economic participation of women, are root causes of instability, and demands engagement beyond the Deep and Comprehensive Free Trade Areas (DCFTAs);
Amendment 629 #
2015/2002(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Emphasises that for the ENP to be a successful policy, it should also ensure that there is ownership by the Member States; calls on the Commission, therefore, to reinforce policy coordination and joint programming of financial assistance, and to provide mechanisms to foster information sharing among Member States and EU structures on ENP countries as well as consultation between the Member States, EU structures and neighbouring countries;
Amendment 113 #
2015/0270(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In June 2015, the Five Presidents Report on Completing Europe’s Economic and Monetary Union pointed out that a single banking system can only be truly single if confidence in the safety of bank deposits is the same irrespective of the Member State in which a bank operates. This requires single bank supervision, single bank resolution and single deposit insurance. The Five Presidents report therefore proposed tocalled for completeion of the Banking Union by establishing a European Deposit Insurance Scheme (EDIS), the third pillar of a fully-fledged Banking Union alongside bank supervision and resolution, that should be completed by a common fiscal backstop based in the European Stability Mechanism. Concrete steps in that direction should already be taken as a priority, with a re-insurance system at the European level for the national deposit guarantee schemes as a first step towards a fully mutualised approach. The scope of this reinsurance system should coincide with that of the SSM.
Amendment 127 #
2015/0270(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) The absence of a homogenous level of depositor protection can distort competition and create an effective barrier for the freedoms of establishment and free provision of services by credit institutions within the internal market. A common deposit insurance scheme is therefore essential for the completion of the internal market in financial services, while improving the competitive position of the Union as the safest financial area in the world.
Amendment 141 #
2015/0270(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Funds used by deposit guarantee schemes to repay depositors for unavailable covered deposits in accordance with Article 8 of Directive 2014/49/EU on deposit guarantee schemes do not constitute State aid or Fund aid. However, where those funds are used in the restructuring of credit institutions and constitute State aid or Fund aid, they must comply with Article 108 of the Treaty on the Functioning of the European Union and, respectively, with Article 19 of Regulation (EU) No 806/2014 of the European Parliament and of the Council13, which should be amended for that purpose. __________________ 13 Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ L 225, 30.7.2014, p. 1).
Amendment 152 #
2015/0270(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) In order to ensure parallelism with the SSM and the SRM, EDIS should apply to participating Member States. Banks established in the Member States not participating in the SSM should not be subject to EDIS. As long as supervision in a Member State remains outside the SSM, that Member State should remain responsible for ensuring the protection of depositors against the consequences of the insolvency of a credit institutiondeposits becoming unavailable. As Member States join the SSM, they should also automatically become subject to the EDIS. Ultimately, the EDIS could potentially extend to the entire internal market.'
Amendment 155 #
2015/0270(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure a level playing field within the internal market as a whole, this Regulation is consistent with Directive 2014/49/EU. It complements the rules and principles of that Directive to ensure the proper functioning of EDIS and that appropriate funding is available to the latter. The key objective of the EDIS is to enhance the effective deposit guarantee framework with a view to protecting depositors against the consequences of deposits becoming unavailable. At the full insurance stage, the objective is to provide an equal level of protection to all depositors of credit institutions affiliated to the participating DGSs. The material law on deposit guarantee to be applied within the EDIS framework will therefore be consistent with the one applicable by the national DGSs or designated authorities of the non- participating Member States, harmonised through the Directive 2014/49/EU.
Amendment 160 #
2015/0270(COD)
Proposal for a regulation
Recital 15 b (new)
Recital 15 b (new)
(15b) It should also be possible for the DIF to go beyond a pure reimbursement function and to use the available financial means in order to prevent the failure of a credit institution with a view to avoiding the costs of reimbursing depositors and other adverse impacts. Those measures should, however, be carried out within a clearly defined framework including appropriate systems and procedures in place for selecting and implementing such measures and monitoring affiliated risks. Implementing such measures should be subject to the imposition of conditions as defined in Directive 2014/49/EU. The costs of the measures taken to prevent the failure of a credit institution should not exceed the costs of fulfilling the statutory or contractual mandates of the respective DIF with regard to protecting covered deposits at the credit institution or the institution itself.
Amendment 166 #
2015/0270(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) EDIS should progressively evolve from a reinsurance scheme into a fully mutualised co-insurance scheme over a number of years. In the context of efforts to deepen the EMU, together with the work on the establishment of bridge-financing arrangements for the Single Resolution Fund (SRF) and on developing a common fiscal backstop, this step is necessary to reduce the bank/sovereign links in individual Member States by means of steps towards risk sharing among all the Member States in the Banking Union, and thereby to reinforce the Banking Union in achieving its key objective. HoweverIn parallel, such risk sharing implied by steps to reinforce Banking Union must proceed in parallel with risk reducing measures designed to break the bank-sovereign link more directly.s already supported by the SSM and SRM, which significantly reduce the likelihood of bank failures, and by a wide range of prudential measures which have been taken in respect of banks, with the objective of strengthening supervision and crisis management, improving the amount and quality of capital, reducing concentration of exposures, fostering deleveraging, limiting pro-cyclical lending behaviour, reinforcing access to liquidity, addressing systemic risk due to size, complexity and interconnectedness, reinforcing depositor confidence, and incentivising proper risk management via rules on governance
Amendment 198 #
2015/0270(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) As the Deposit Insurance Fund, in the re-insurance stage, would only provide an additional source of funding and would only weaken the link between banks and their national sovereign, without however ensuring that all depositors in the Banking Union enjoy an equal level of protection, the reinsurance stage should, after threewithin two years, gradually progress into a co- insurance scheme and ultimately into a fully mutualised deposit insurance scheme. Only a fully mutualized EDIS would ensure that all depositors enjoy an equal level of protection.
Amendment 206 #
2015/0270(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) While the reinsurance and coinsurance stages would share many common features, ensuring a smooth gradual evolution, pay-outs under the co- insurance stage would be shared between national DGS and the Deposit Insurance Fund as of the first euro of loss. The relative contribution from the Deposit Insurance Fund would gradually increase to 100 percent, resulting in the full mutualisation of depositor risk across the Banking Union after fourwithin three years.
Amendment 220 #
2015/0270(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) The Deposit Insurance Fund is an essential element without which the progressive establishment of EDIS could not be achieved. Different national systems of funding would not provide for homogenous deposit insurance across the Banking Union. Throughout the three stages, the Deposit Insurance Fund should help ensuring the stabilising role of DGSs, a uniform high level of protection to all depositors in a harmonised framework throughout the Union and avoiding the creation of obstacles for the exercise of fundamental freedoms or the distortion of competition in the internal market due to different levels of protection at national level, since savers have the right to open a bank account in any Member State irrespective of their legal domicile.
Amendment 246 #
2015/0270(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) In principle, contributions should be collected from the industrybanks prior to, and independently of, any deposit insurance action. When prior funding is insufficient to cover the losses or costs incurred by the use of the Deposit Insurance Fund, additional contributions should be collected to bear the additional cost or loss. Moreover, the Deposit Insurance Fund should be able to contract borrowings or other forms of support from credit institutions, financial institutions or other third parties in the event that the ex-ante and ex post contributions are not immediately accessible or do not cover the expenses incurred by the use of the Deposit Insurance Fund in relation to deposit insurance actions.
Amendment 263 #
2015/0270(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) Ensuring effective and sufficient financing of the Deposit Insurance Fund is of paramount importance to the credibility and efficiency of EDIS. The capacity of the Board to contract alternative funding means for the Deposit Insurance Fund should be enhanced in a manner that optimises the cost of funding and preserves the creditworthiness of the Deposit Insurance Fund. Immediately after the entry into force of this Regulation, the necessary steps should be taken by the Board in cooperation with the participating Member States to develop the appropriate methods and modalities permitting the enhancement of the borrowing capacity of the Deposit Insurance Fund that should be in place by the date of application of this Regulation. It is essential also to create a mutualised credit line via the European Stability Mechanism (ESM) as an effective common fiscal backstop for the Banking Union to be used as a last resort.
Amendment 268 #
2015/0270(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) It is necessary to ensure that the Deposit Insurance Fund is fully available for the purpose of ensuring the guarantee of deposits. Therefore, the Deposit Insurance Fund should primarily be used for the efficient implementation of deposit guarantee requirements and actions. Furthermore, it should be used only in accordance with the applicable deposit guarantee objectives and principles. Under certain conditions, the Deposit Insurance Fund could also provide funding where the available financial means of a DGS are used in resolution in accordance with Article 79 of this Regulation. Furthermore, the Deposit Insurance Fund could be used for the implementation of alternative measures, as established in Article 77a of this Regulation, under a strict supervision framework.
Amendment 288 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 806/2014
Article 1 – paragraph 2 – subparagraph 1 – introductory part
Article 1 – paragraph 2 – subparagraph 1 – introductory part
2. In addition, in order to ensure that all depositors in the Banking Union enjoy an equal level of protection, this Regulation establishes a fully mutualised European Deposit Insurance Scheme ('EDIS') by 2022 in three successive stages:
Amendment 331 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 a (new)Regulation (EU) No 806/2014
Article 1 – paragraph 1 – point 5 a (new)Regulation (EU) No 806/2014
Article 5 – title
Amendment 333 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 b (new)Regulation (EU) No 806/2014
Article 1 – paragraph 1 – point 5 b (new)Regulation (EU) No 806/2014
Article 5 – paragraph 1 – subparagraph -1 (new)
5b. In Article 5(1), the following new subparagraph -1 is added: ‘-1. Where, pursuant to this Regulation, the Board decides to exercise the recovery rights, which, pursuant to Directive 2014/49/EU are exercised by the DGS, the Board shall, for the application of this Regulation and of Directive 2014/49/EU, be considered to be the relevant DGS in national insolvency proceedings.’
Amendment 337 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
9a. in Article 34, paragraph 5 is replaced by the following: ‘5. The Board, the ECB, the national competent authorities and, the national resolution authorities and the national designated authorities may draw up memoranda of understanding with a procedure concerning the exchange of information. The exchange of information between the Board, the ECB, the national competent authorities, and the national resolution authorities and the national designated authorities shall not be deemed to infringe the requirements of professional secrecy.’
Amendment 340 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 b (new)Regulation (EU) No 806/2014
Article 1 – paragraph 1 – point 9 b (new)Regulation (EU) No 806/2014
Article 38 – paragraph 2 – point c a (new)
9b. In Article 38(2), the following point (ca) is added: ‘(ca) where they intentionally or negligently fail to comply with decisions of the DGS to which they are affiliated, including a failure associated with the invoices on contributions, in accordance with Article 74e.’;'
Amendment 363 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a – paragraph 1
Article 41a – paragraph 1
1. As from the date of application set out in Article 99(5a), participating DGSs are reinsured by EDIS in accordance with this Chapter for a period of threewo years (‘reinsurance period’).
Amendment 415 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41d – paragraph 1
Article 41d – paragraph 1
1. As from the end of the re-insurance period, the participating DGS shall be co- insured by EDIS in accordance with this Chapter for a period of fourthree years (‘co- insurance period’).
Amendment 450 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h a (new)
Article 41h a (new)
Article 41ha By way of derogation to Article 1(2) and Article 74c(4) the Commission may adopt a delegated act in accordance with Article 93 in order to supplement this Regulation by anticipating the date of application of this Chapter and its related pre-conditions as defined in Articles 41e and 41j in case the legislative proposals presented by the Commission on 23rd November 2016 (e.g. the "EU banking reform" package) have been officially adopted.
Amendment 456 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41i – paragraph 1
Article 41i – paragraph 1
1. A participating DGS shall not be covered by EDIS in the reinsurance, co- insurance or full insurance phase, if the Commission, acting on its own initiative or upon a request of the Board or a participating Member State, decides and informs the Board accordingly that at least one of the following disqualifying conditions is met: The Commission and the Board shall monitor the ability of DGSs to meet their obligations under the relevant legislation on a continuous basis. The Commission and the Board shall monitor in particular compliance with Articles 4(8), 4(9), 4(10), 4(11), 5, 6 8(1), 8(2), 8(6) and 10 of Directive 2014/49/EU and with Articles 41j and 41p of this Regulation. 1a. If the Commission or Board identifies instances of non-compliance with any or all of its obligations under paragraph 1, it shall inform the other and the DGS concerned. 1b. The Board, based on the information of the Commission or acting on its own initiative, may issue a recommendation to the DGS to comply with those obligations within a maximum period of 3 months. That recommendation shall include remedial actions and may also include technical assistance from the SRB. 1c. If a DGS fails to comply with a recommendation of the Commission within the specified time frame, the Commission may decide that the funding from EDIS in the case of a payout event or a resolution action shall be provided as a loan subject to the conditions in paragraph 1d. If EDIS has already provided funds and the DGS arrangements are inadequate for a payout event or a resolution action and do not comply with the obligations under paragraph 1, the Commission may decide to convert the funding provided by EDIS into a loan up to a period of [3 year] following the payout event or the resolution action and subject to the conditions in paragraph 1d. Any future payout event or resolution action shall also be provided as a loan as long as the DGS continues to fail to comply with the instructions. 1d. EDIS shall grant a loan under the following conditions: (a) the DGS must fully deplete its available financial means; (b) the DGS has committed to comply with the instruction of the Commission; (c) the rate of interest of the loan shall not be less than 1% above the 12 month EURIBOR rate; unless the Commission, after consulting the Board, decides otherwise in its instruction on the grounds of proportionality, including the non- punitive nature of the loan. The DGS shall calculate the ex-post contributions for the national banking system to pay the interest; (d) the maturity of the loan shall not exceed [3] years; (e) the loan shall not exceed the amount of liquidity support that the DGS would have received. 1e. The Commission shall decide that a participating DGS shall not be covered by EDIS if it continues to fail to comply with its obligations under paragraph 1 and following the steps set out in this article. If a participating DGS is not covered by EDIS it shall repay the loan within [1 year]. The participating DGS concerned shall notify the Commission on the fulfilment of its obligations. The Commission should upon the notification re-evaluate the decision on the loss of cover of the participating DGS and, if appropriate, issue a recommendation that the DGS re- qualifies for EDIS coverage. (a) the participating DGS has failed to comply with the obligations under this Regulation or Articles 4, 6, 7 or 10 of Directive 2014/49/EU; (b) the participating DGS, the relevant administrative authority within the meaning of Article 3 of Directive 2014/49/EU, or any other relevant authority of the respective Member State have, in relation to a particular request for coverage by EDIS, acted in a way that runs counter to the principle of sincere cooperation as laid down in Article 4(3) of the Treaty on European Union.
Amendment 636 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 5 a (new), 5 b (new), 5 c (new), 5 d (new)
Article 74 b – paragraph 5 a (new), 5 b (new), 5 c (new), 5 d (new)
5a. In all phases, the coverage level for the aggregate deposits of each depositor is EUR 100 000 in the event of deposits being unavailable. 5b. In addition to paragraph 5a, EDIS shall ensure that the following deposits are protected up to EUR 400 000 for at least six months once the amount has been credited or from the moment when such deposits become legally transferable: (a) deposits resulting from real estate transactions relating to private residential properties; (b) deposits that serve social purposes laid down in this Regulation and are linked to particular life events of a depositor such as marriage, divorce, retirement, dismissal, redundancy, invalidity or death; (c) deposits that serve purposes laid down in this Regulation and are based on the payment of insurance benefits or compensation for criminal injuries or wrongful conviction. The Commission shall be empowered to adopt a delegated act in accordance with Article 93 in order to establish conditions for enlarging the coverage included in points (a), (b) and (c) of this paragraph. 5c. The amount referred to in paragraph 5a shall be reviewed periodically by the Commission and at least once every five years. If appropriate, the Commission shall submit to the European Parliament and to the Council a proposal for a Directive to adjust the amount referred to in paragraph 5a, taking account in particular of developments in the banking sector and the economic and monetary situation in the Union. The first review shall not take place before 3 July 2020 unless unforeseen events necessitate an earlier review. 5d. The Commission shall be empowered to adopt delegated acts in accordance with Article 93 in order to adjust the amounts referred to in paragraphs 5a and 5b at least every five years, in accordance with inflation in the Union on the basis of changes in the harmonised index of consumer prices published by the Commission since the previous adjustment.
Amendment 744 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 g – paragraph 1 a (new)
Article 74 g – paragraph 1 a (new)
1a. The board may raise loans as a mutualised credit line via the European Stability Mechanism regarding the immediate availability of additional financial means to be used where the amounts raised or available are not sufficient to meet the Funds' obligations. A common backstop shall be developed during the re-insurance period to facilitate borrowing by the DIF. The use of the common backstop shall be fiscally neutral in the long term.
Amendment 763 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 36
Article 1 – paragraph 1 – point 36
Regulation (EU) No 806/2014
Article 75 – paragraph 3
Article 75 – paragraph 3
3. The Board shall have a prudent and safe investment strategy that is provided for in the delegated acts adopted pursuant to paragraph 4 of this Article, and shall invest the amounts held in the SRF and the DIF in obligations of the Member States or intergovernmental organisations, or in highly liquid assets of high creditworthiness, taking into account the delegated act referred to in Article 460 of Regulation (EU) No 575/2013 as well as other relevant provisions of that Regulation. Investments shall be sufficiently sectorally, geographically and proportionally diversified. The return on those investments shall benefit the SRF and the DIF respectively, in strict proportion to the monies invested on behalf of each of those funds.
Amendment 774 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 37
Article 1 – paragraph 1 – point 37
Regulation (EU) No 806/2014
Article 77 a – paragraph 3 a (new)
Article 77 a – paragraph 3 a (new)
3a. The Board may allow the use of the DIF for alternative measures in order to prevent the failure of a credit institution provided that the conditions defined in the Article 11(3) of the Directive 2014/49/EU are met. The Board may decide that the available financial means may also be used to finance measures to preserve the access of depositors to covered deposits, including transfer of assets and liabilities and deposit book transfer, in the context of national insolvency proceedings, provided that the costs borne by the DIF do not exceed the net amount of compensating covered depositors at the credit institution concerned.
Amendment 147 #
2015/0268(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) For offers of securities to the public of a consideration below EUR 500 000, the cost of producing a prospectus in accordance with this Regulation is likely to be disproportionate to the envisaged proceeds of the offer. It is therefore appropriaThis Regulation makes a general distinction between securities admitted to trading on a regulated market and securities admitted that the requirement to draw up a prospectus under this Regulation should not apply to offers of such small scaleo trading on an SME growth market, in order to avoid disproportionate costs of producing a prospectus. Member States should refrain to impose at national level disclosure requirements which would constitute a disproportionate or unnecessary burden in relation to such offers and thus increase fragmentation of the internal market. If the offer is made on an SME growth market, the simplified procedure laid down in Article 15 is applicable.
Amendment 152 #
2015/0268(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Where a company decides not to offer its securities to the public, it is important that the regulatory environment at Union level ensures that the company has enough options to raise capital. Therefore, in the spirit of the Capital Markets Union and to unlock investment, the Commission should propose a regulatory initiative to regulate and harmonise crowdfunding practices across the Union.
Amendment 155 #
2015/0268(COD)
Proposal for a regulation
Recital 13
Recital 13
Amendment 167 #
2015/0268(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) A valid prospectus, drawn up by the issuer or the person responsible for drawing up the prospectus and available to the public at the time of the final placement of securities through financial intermediaries or in any subsequent resale of securities, provides sufficient information for investors to make informed investment decisions. That means information on at least the following: (a) the assets and liabilities, net turnover, profit or loss before tax, and tax liabilities of the issuer, and the accumulated earnings, financial position and prospects of the issuer and any guarantor; (b) the rights attaching to the securities for the purpose of making an investment in those securities; (c) the cost of the fundraising, broken down between the different elements such as underwriting or placing commissions, financial advisory fees, reporting accountant fees, and legal fees. Therefore, financial intermediaries placing or subsequently reselling the securities should be entitled to rely upon the initial prospectus published by the issuer or the person responsible for drawing up the prospectus as long as it is valid and duly supplemented and the issuer or the person responsible for drawing up the prospectus consents to its use. The issuer or the person responsible for drawing up the prospectus should be allowed to attach conditions to his or her consent. The consent to use the prospectus, including any conditions attached thereto, should be given in a written agreement enabling assessment by relevant parties of whether the resale or final placement of securities complies with the agreement. In the event that consent to use the prospectus has been given, the issuer or person responsible for drawing up the initial prospectus should be liable for the information stated therein and in the case of a base prospectus, for providing and filing final terms and no other prospectus should be required. However, in the event that the issuer or the person responsible for drawing up such initial prospectus does not consent to its use, the financial intermediary should be required to publish a new prospectus. In that case, the financial intermediary should be liable for the information in the prospectus, including all information incorporated by reference and, in the case of a base prospectus, final terms.
Amendment 171 #
2015/0268(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) Harmonisation of the information contained in the prospectus should provide equivalent investor protection at Union level. In order to enable investors to make an informed investment decision, that information should be sufficient and objective including with regard to the financial circumstances of the issuer and the rights attaching to the securities, and should be provided in an easily analysable, succinct and comprehensible form. Those requirements should apply to all types of prospectuses drawn up in accordance with this Regulation, including those following the minimum disclosure requirements for secondary issuances and for SMEs. A prospectus should not contain information which is not material or specific to the issuer and the securities concerned, as this could obscure the information relevant to the investment decision and thus undermine investor protection. Therefore, the information which is included in a prospectus should be adapted to reflect the nature and circumstances of the issuer, the type of securities, the type of investor targeted by an offering, any market to which the securities are to be admitted to trading, and the likely knowledge of investors and the information that is available to them because it has been made public under other legal or regulatory requirements.
Amendment 185 #
2015/0268(COD)
Proposal for a regulation
Recital 33
Recital 33
(33) An issuer which has filed and received approval for a universal registration document for threewo consecutive years can be considered well-known to the competent authority. All subsequent universal registration documents should therefore be allowed to be filed without prior approval and reviewed on an ex-post basis by the competent authority where that competent authority deems it necessary. Each competent authority should decide the frequency of such review taking into account for example its assessment of the risks of the issuer, the quality of its past disclosures, or the length of time elapsed since a filed universal registration document has been last reviewed.
Amendment 188 #
2015/0268(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) By nature, information on taxes on the income from the securities in a prospectus can only be generic, adding little informational value for the individual investor. Since such informationHowever, tax information on the issuer must cover not only the country of registered office of the issuer but also the countries where the offer is being made or admission to trading is being sought, where a prospectus is passported, it is costly to produce and might hamper cross-border offers. Therefore aas well as the issuer's turnover, profit, and tax liabilities. A prospectus should onlyfurthermore contain a warning that the tax legislation of the investor's Member State and of the issuer's Member State of incorporation may have an impact on the income received from the securities. However, tThe prospectus should stillalso contain appropriate information on taxation where the proposed investment entails a specific tax regime, for instance in the case of investments in securities granting investors a favourable tax treatment.
Amendment 199 #
2015/0268(COD)
Proposal for a regulation
Recital 44
Recital 44
(44) The minimum information required to be disclosed by SMEs under the specific disclosure regimeSME prospectus set out in Article 15 should be calibrated in a way that focuses on information that is material and relevant for companies of such size and their investors, and should aim at ensuring proportionality between the size of the company and its fundraising needs, on the one hand, and the cost of producing a prospectus, on the other hand. In order to ensure SMEs can draw up prospectuses without incurring costs that are not proportionate to their size, and thus the size of their fundraising, the specific disclosure regime for SMESME prospectus should be more flexible than that applying to companies on regulated markets to the extent compatible with ensuring that the key information necessary to the investors is disclosed.
Amendment 200 #
2015/0268(COD)
Proposal for a regulation
Recital 44
Recital 44
(44) The minimum information required to be disclosed by SMEs under the specific disclosure regime should be calibrated in a way that focuses on information that is material and relevant for companies of such size and their investors, and should aim at ensuring proportionality between the size of the company and its fundraising needs, on the one hand, and the cost of producing a prospectus, on the other hand. In order to ensure SMEs can draw up prospectuses without incurring costs that are not proportionate to their size, and thus the size of their fundraising, the specific disclosure regime for SMEs should be more flexible than that applying to companies on regulated markets to the extent compatible with ensuring that the key information necessary to thematerial to investors is disclosed.
Amendment 205 #
2015/0268(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) The specific disclosure regimeSME prospectus should be made available to offers of securities to the public by SMEs whose securities are traded on multilateral trading facilities, including SME growth markets, as such trading venues can serve as the gateway to capital markets for SMEs and are subject to less stringent rules with regard to disclosure than regulated markets. It is also appropriate to extend the definition of SMEs to SMEs as defined in Directive 2014/65/EU to ensure consistency between this Regulation and Directive 2014/65/EU. SMEs whose securities are not traded on any trading venue should also be eligible to this disclosure regime as they may also be required to draw up a prospectus when offering their securities to the public, including through crowdfunding platforms. However, SMEs listed on regulated markets should not be eligible to use this regime because investors on regulated markets should feel confident that the issuers whose securities they invest in are subject to one single set of disclosure rules. Therefore there should not be a two-tier disclosure standard on regulated markets depending on the size of the issuer.
Amendment 215 #
2015/0268(COD)
Proposal for a regulation
Recital 53
Recital 53
(53) Not all issuers have access to adequate information and guidance about the scrutiny and approval process and the necessary steps to follow to get a prospectus approved, as different approaches by competent authorities exist in Member States. This Regulation should eliminate those differences by harmonising the rules applying to the scrutiny and approval process and streamlining the approval process by the national competent authorities in order to ensure that all competent authorities take a convergent approach when scrutinising the completeness, consistency and comprehensibility of the information contained in a prospectus. Guidance on how to seek approval of a prospectus should be publicly available of the websites of the competent authorities. ESMA should play a key role in fostering supervisory convergence in this field by using its powers under Regulation (EU) No 1095/2010 of the European Parliament and of the Council13. In particular, ESMA should conduct peer reviews covering activities of the competent authorities under this Regulation within an appropriate time-frame before the review of this Regulation and in accordance with Regulation (EU) No 1095/2010. __________________ 13 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, (OJ L 331, 15.12.2010, p. 84)
Amendment 217 #
2015/0268(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) To facilitate the access to the markets of Member States, it is important that fees charged by competent authorities for the approval and filing of prospectuses and their related documents are disclosed. Charges imposed on issuers established in a third country should reflect the additional burden such establishment creates for the national competent authority of the Member States where the securities are issued.
Amendment 223 #
2015/0268(COD)
Proposal for a regulation
Recital 56
Recital 56
(56) It is also necessary to harmonise advertisements in order to avoid undermining public confidence and prejudicing the proper functioning of financial markets. The fairness and accuracy of advertisements, as well as their consistency with the content of the prospectus are of utmost importance for the protection of investors, including retail investors, and the supervision of such advertisements is an integral part of the role of competent authorities. The competent authorities of the Member States where the advertisements are disseminated should be responsible for the supervision of advertisements made in that Member State.
Amendment 225 #
2015/0268(COD)
Proposal for a regulation
Recital 59
Recital 59
(59) The obligation for an issuer to translate the full prospectus into all the relevant official languages discourages cross-border offers or multiple trading. To facilitate cross-border offers, where the prospectus is drawn up in a language that is customary in the sphere of international finance, only the summary should be translated in the official language(s) of the host or home Member State(s) or in one of the official languages used in the part of the Member State where the investment product is distributed.
Amendment 229 #
2015/0268(COD)
Proposal for a regulation
Recital 60
Recital 60
(60) The competent authority of the hostme Member State should be entitled to receive a certificate from the competent authority of the home Member State which states that the prospectus has been drawn up in accordance with this Regulation. The competent authority of the home Member State should also notifynotify ESMA and the issuer or the person responsible for drawing up the prospectus of the certificate of approval of the prospectus that is addressed to the authority of the host Member State in order to provide the issuer or the person responsible for drawing up the prospectus with certainty as to whether and when a notification has actually been made.
Amendment 232 #
2015/0268(COD)
Proposal for a regulation
Recital 61
Recital 61
(61) In order to ensure that the purposes of this Regulation will be fully achieved, it is also necessary to include within its scope securities issued by issuers governed by the laws of third countries. Third country issuers drawing up a prospectus under this Regulation should appoint a representative among the entities which carry out activities that are regulated and supervised under EU financial services regulation, to serve as a contact point for the purposes of this Regulation. The representative should ensure compliance, jointly with the issuer, with the provisions of this Regulation. In order to ensure exchanges of information and cooperation with third-country authorities in relation to the effective enforcement of this Regulation, competent authorities should conclude cooperation arrangements with their counterparts in third countries. Any transfer of personal data carried out on the basis of those agreements should comply with Directive 95/46/EC and with Regulation (EC) No 45/2001 of the European Parliament and of the Council.
Amendment 240 #
2015/0268(COD)
Proposal for a regulation
Recital 69
Recital 69
(69) In order to specify the requirements set out in this Regulation, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of the thresholds mentioned in point (i) of Article 1(2), in points (c) and (d) of Article 1(3), the minimum information content of the documents referred to in points (f) and (g) of Article 1(3) and points (d) and (e) of Article 1(4), the adjustment of the definitions of Article 2, the scrutiny, approval, filing and review of the universal registration document, as well as the conditions for its amendment or updating and the conditions where the status of frequent issuer may be lost, the format of the prospectus, the base prospectus and the final terms, and the specific information which must be included in a prospectus, the minimum information contained in the universal registration document, the reduced information contained in the simplified registration document and securities note in case of secondary issuances and by SMEs, the format allowed under Article 15(2), the authorisation of the omission from the prospectus of certain information, the procedures for the scrutiny and approval of the prospectus, the advertisements for securities falling under the scope of this Regulation, and the general equivalence criteria for prospectuses drawn up by third country issuers. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.
Amendment 265 #
2015/0268(COD)
Proposal for a regulation
Article 1 – paragraph 3 – point b
Article 1 – paragraph 3 – point b
(b) an offer of securities addressed to fewer than 1500 natural or legal persons per Member State, other than qualified investors;.
Amendment 276 #
2015/0268(COD)
Proposal for a regulation
Article 1 – paragraph 3 – point d
Article 1 – paragraph 3 – point d
Amendment 298 #
2015/0268(COD)
Proposal for a regulation
Article 1 – paragraph 5 – point b
Article 1 – paragraph 5 – point b
Amendment 307 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point k – indent - 1 (new)
Article 2 – paragraph 1 – point k – indent - 1 (new)
- published by or on behalf of the issuer, the offeror, the person asking for admission to trading on a regulated market or the guarantor;
Amendment 308 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point k – subparagraph 1 a (new)
Article 2 – paragraph 1 – point k – subparagraph 1 a (new)
Investment research, as defined in Article 2(1)(va), published or distributed by an investment firm and not on behalf of the issuer, the offeror, the person asking for admission to trading on a regulated market or the guarantor, is not an advertisement falling within this Article.
Amendment 311 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point m – point i
Article 2 – paragraph 1 – point m – point i
(i) for all issuers of securities establishincorporated in the Union which are not mentioned in point (ii), the Member State where the issuer has its registered office;
Amendment 314 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point m – point ii
Article 2 – paragraph 1 – point m – point ii
Amendment 319 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point m – point iii – introductory part
Article 2 – paragraph 1 – point m – point iii – introductory part
(iii) for all issuers of securities established in a third country which are not mentioned in point (ii), the Member State where the securities are intended to be offered to the public for the first time or where the first application for admission to trading on a regulated market is made, at the choice of the issuer, the offeror or the person asking for admission, subject to a subsequent choice by issuers established in a third country in either of the following circumstances:
Amendment 325 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point v a (new)
Article 2 – paragraph 1 – point v a (new)
(va) ‘investment research’ in this context shall be understood as covering research material or services concerning one or several financial instruments or other assets, or the issuers or potential issuers of financial instruments, or be closely related to a specific industry or market such that it informs views on financial instruments, assets or issuers within that sector. That type of material or services explicitly or implicitly recommends or suggests an investment strategy and provides a substantiated opinion as to the present or future value or price of such instruments or assets, or otherwise contains analysis and original insights and reach conclusions based on new or existing information that could be used to inform an investment strategy and be relevant and capable of adding value to the investment firm's decisions on behalf of clients being charged for that research.
Amendment 330 #
2015/0268(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Securities shall not be offered to the public in the Union without prior publication of a prospectus or an SME prospectus.
Amendment 335 #
2015/0268(COD)
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point a
Article 3 – paragraph 2 – subparagraph 1 – point a
Amendment 338 #
2015/0268(COD)
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – point b
Article 3 – paragraph 2 – subparagraph 1 – point b
Amendment 343 #
2015/0268(COD)
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2
Article 3 – paragraph 2 – subparagraph 2
Amendment 345 #
2015/0268(COD)
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Securities shall not be admitted to trading on a regulated market situated or operating within the Union without prior publication of a prospectus. For securities admitted to trading by an SME on an MTF, including an SME growth market, the simplified procedure laid down in Article 15 is applicable. Member States shall refrain from imposing at national level disclosure requirements which would constitute a disproportionate or unnecessary burden in relation to such offers and thus increase fragmentation of the internal market.
Amendment 350 #
2015/0268(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Without prejudice to Article 14(2) and Article 17(2), theThe prospectus shall contain the necessary information, which includes information on at least: (a) the assets and liabilities, net turnover, profit or loss before tax, and tax liabilities of the issuer, and the accumulated earnings, financial position and prospectus shall contain the information which, according to the particular nature of the issuer and of the securities offeredof the issuer and any guarantor; (b) the rights attaching to the securities for the purpose of making an investment in those securities; (c) the cost of fundraising, broken down between the different elements such as underwriting and placing commissions, financial advisory fees, reporting accountant fees, and legal fees. 1a. Necessary information may differ depending on: (a) the nature of the issuer; (b) the type of securities; (c) the circumstances of the issuer; (d) where relevant, the type of investor targeted in the offer to the public or admittedssion to trading on a regulated market, is necessary to en, the likely knowledge of such type of investor, and the market on which the securities are to be admitted to trading; (e) any information made available to investors to make an informed assessment of the assetfurther to requirements imposed on the issuer of the securities aund liabilities, financial position, profit and losses, and prospects of the issuer aner Union or national law or the rules of any listing authority, trading venue or regulated market by or on which the issuer's securities are listed ofr any guarantor, and of the rights attaching to such securitiesdmitted to trading, which can be accessed through an officially appointed mechanism as referred to in Article 21 of Directive 2004/109/EC. 1b. Thate information shall bein a prospectus shall be drafted and presented in an easily analysable, succinct and comprehensible form. , taking into account the factors set out in paragraph 1a.
Amendment 356 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The prospectus shall include a summary providing the key information that investors need in order to understand the nature and the risks of the issuer, the guarantor and the securities that are being offered or admitted to trading on a regulated market, and that, when read together with the other parts of the prospectus, aids investors when considering whether to invest in such securities. However, where the prospectus relates to the admission to trading on a regulated market of non-equity securities offered solely to qualified investors and securities offered to trading by an SME on an MTF including an SME growth market there shall be no requirement to provide a summary.
Amendment 375 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 3 – point b a (new)
Article 7 – paragraph 3 – point b a (new)
(ba) be written in the official languages, or in one of the official languages, used in the part of the Member State where the investment product is distributed, or in another language accepted by the competent authorities of that Member State, or where it has been written in a different language, it shall be translated into one of these languages. The translation shall faithfully and accurately reflect the content of the original document.
Amendment 381 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 5 – introductory part
Article 7 – paragraph 5 – introductory part
5. The introduction of the summary shall contain: (a) the name of the securities,; (b) the identity and contact details of the issuer, the offeror orincluding its legal entity identifier (LEI); (c) the identity and contact details of the offeror, including its LEI if the offeror has legal personality, or of the person seeking admission,; (d) the identity and contact details of the home competent authority and the date of the document. It shall contain warnings that:
Amendment 393 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 6 – point a – indent 1
Article 7 – paragraph 6 – point a – indent 1
- its domicile and legal form, the legislation under which it operates; and its country of incorporation and its LEI;
Amendment 398 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 6 – point b
Article 7 – paragraph 6 – point b
(b) under a sub-section titled 'What are the key financial information regarding the issuer?' a selection of historical key financial information, such as historical rates of returns and payable interest, including, where applicable, pro forma information, presented for each financial year of the period covered by the historical financial information, and any subsequent interim financial period accompanied by comparative data from the same period in the prior financial year. The requirement for comparative balance sheet information shall be satisfied by presenting the year- end balance sheet information.
Amendment 412 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 – point a – indent 1
Article 7 – paragraph 7 – subparagraph 1 – point a – indent 1
– their type and class, any security, identification number, their ISIN, their currency, denomination, par value, the number of securities issued, the term of the securities;
Amendment 419 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 – point c
Article 7 – paragraph 7 – subparagraph 1 – point c
(c) under a sub-section titled 'Is there a guarantee attached to the securities?' a brief description of the nature and scope of the guarantee, if any, as well as a brief description of the guarantor, including its LEI.
Amendment 429 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 7 –subparagraph 2
Article 7 – paragraph 7 –subparagraph 2
Where a key information document is required to be prepared under Regulation (EU) No 1286/2014 of the European Parliament and of the Council21 , the issuer, the offeror or the person asking for admission mayshall substitute the content set out in this paragraph with the information set out in points (b) to (i) of Article 8(3) of Regulation (EU) No 1286/2014. In that case and where a single summary covers several securities which differ only in some very limited details, such as the issue price or maturity date, according to the last subparagraph of Article 8(8), the length limit set out in paragraph 3 shall be extended by 3 additional sides of A4-sized paper for each additional security. __________________ 21 Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (OJ L 352, 9.12.2014, p. 1).
Amendment 436 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 11 – subparagraph 1
Article 7 – paragraph 11 – subparagraph 1
ESMA shall develop draft regulatory technical standards to specify the content and format of presentation of the historical key financial information referred to under point (b) of paragraph 6, taking into account the various types of securities and issuersa standard template for the summary.
Amendment 446 #
2015/0268(COD)
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
After the issuer has had a universal registration document approved by the competent authority every financial year for threewo consecutive years, subsequent universal registration documents may be filed with the competent authority without prior approval.
Amendment 475 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 1
Article 15 – paragraph 1 – subparagraph 1
SMEs may choose toseeking admission to trading on a multilateral trading facility, including an SME growth market, shall draw up a prospectus under the minimum disclosure regime for SMEs (the SME prospectus) in the case of an offer of securities to the public provided that they have no securities admitted to trading on a regulated market. The SME prospectus shall replace the prospectus and it shall be structured in the form of a questionnaire with standardised text that can be completed by the issuer. The minimum disclosure regime shall explain: (a) the offer of securities, including information such as: (i) the number and nature of the securities forming part of the offer; (ii) the terms and conditions of the offer, including the issue price; (b) the reasons for the offer and the intended use of the net proceeds; (c) key information on the issuer, such as: (i) the name of the issuer and persons responsible; (ii) business overview management , current trading plans and prospects; (iii) risk factors; (iv) financial information.
Amendment 481 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 2
Article 15 – paragraph 1 – subparagraph 2
Amendment 485 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 3
Article 15 – paragraph 1 – subparagraph 3
Amendment 487 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Companies making use of the minimum disclosure regime referred to in paragraph 1 and offering shares or non- equity securities which are not subordinated, convertible or exchangeable, do not give a right to subscribe to or acquire other types of securities and are not linked to a derivative instrument, shall bArticles 7 and 13 shall not apply to issuers referred to in paragraph 1. The SME prospectus shall include an introduction. The eintitled to draw up a prospectus under a format structured in the form of a questionnaire with standardised text, to be filled in by the issuer. For this purpose, both the specific registration document and the specific securities note shall be structured in that formroduction shall not exceed 2 500 words.
Amendment 490 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 1
Article 15 – paragraph 3 – subparagraph 1
The Commission shall adopt delegated acts in accordance with Article 42 to specify the reduced information to beto specify the format and content of the SME prospectus referred to in paragraph 1 included ing the schedules applicable under the minimum disclosure regime and the opintroduction referred in paragraph 2. The format and content of the minimum disclosure regime shall be adapted and require additional informat allowed under paragraph 2ion for companies offering shares or non-equity securities which are subordinated, convertible or exchangeable, and which give a right to subscribe to or acquire other types of securities and are linked to a derivative instrument.
Amendment 493 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 4
Article 15 – paragraph 4
Amendment 528 #
2015/0268(COD)
Proposal for a regulation
Article 20 – paragraph 6
Article 20 – paragraph 6
6. At the latest from the beginning of the offer to the public or the admission to trading of the securities involved, ESMA shall publish all prospectuses received from the competent authorities on its website, including any supplements thereto, final terms and related translations where applicable, as well as information on the host Member State(s) where prospectuses are notified in accordance with Article 24. Publication shall be ensured through a storage mechanism providing the public with free of charge access and search functions. Key information contained in the prospectuses, such as the ISIN identifying the securities and the LEI identifying the issuers, offerors and guarantors, should be machine-readable, including metadata.
Amendment 538 #
2015/0268(COD)
Proposal for a regulation
Article 21 – paragraph 5
Article 21 – paragraph 5
5. The competent authority of the home Member State where the advertisements are disseminated shall have the power to exercise control over the compliance of advertising activity, relating to an offer to the public of securities or an admission to trading on a regulated market, with the principles referred to in paragraphs 2 to 4.
Amendment 557 #
2015/0268(COD)
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1
Article 24 – paragraph 1 – subparagraph 1
The competent authority of the home Member State shall, at the request of the issuer or the person responsible for drawing up the prospectus and within three working days following receipt of that request or, where the request is submitted together with the draft prospectus, within one working day after the approval of the prospectus, notify the competent authority of the host Member State withnotify ESMA and the issuer within one working day after the approval of the prospectus, a certificate of approval attesting that the prospectus has been drawn up in accordance with this Regulation and with an electronic copy of that prospectus. ESMA shall set up a portal into which each national competent authority could feed in such information.
Amendment 558 #
2015/0268(COD)
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 3
Article 24 – paragraph 1 – subparagraph 3
The issuer or the person responsible for drawing up the prospectus shall be notified of the certificate of approval at the same time as the competent authority of the host Member State.
Amendment 560 #
2015/0268(COD)
Proposal for a regulation
Article 24 – paragraph 3
Article 24 – paragraph 3
Amendment 566 #
2015/0268(COD)
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
1. Where an offer to the public is made or admission to trading on a regulated market is sought only in the home Member State, the prospectus shall be drawn up in a language accepted by the competent authority of the home Member State or in one of the official languages, used in the part of the Member State where the investment product is distributed.
Amendment 568 #
2015/0268(COD)
Proposal for a regulation
Article 25 – paragraph 2 – subparagraph 2
Article 25 – paragraph 2 – subparagraph 2
The competent authority of each host Member State may require that the summary referred to in Article 7 be translated into its official language or languages or in one of the official languages, used in the part of the Member State where the investment product is distributed, but it shall not require the translation of any other part of the prospectus.
Amendment 578 #
2015/0268(COD)
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2
Amendment 582 #
2015/0268(COD)
Proposal for a regulation
Article 26 – paragraph 3
Article 26 – paragraph 3
Amendment 588 #
2015/0268(COD)
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
Amendment 590 #
2015/0268(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. In the case of an offer to the public or admission to trading on a regulated market of securities issued by a third country issuer, in a Member State other than the home Member State, the requirements set out in Articles 23, 24 and 25 shall apply. where a prospectus drawn up in accordance with, and subject to, the information requirements imposed by the national legislation of the third country issuer, where those are equivalent to the requirements under this Regulation, in a Member State other than the home Member State, the requirements set out in Articles 23, 24 and 25 shall apply. For those issuers, the national competent authority of the Member State where the securities are issued is entitled to charge an extra fee reflecting the burden such an issuance represents.
Amendment 592 #
2015/0268(COD)
Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1
Article 28 – paragraph 1 – subparagraph 1
For the purpose of Article 27, and, where deemed necessary, for the purpose of Article 26, the competent authorities of Member States shall conclude cooperation arrangements with supervisory authorities of third countries concerning the exchange of information with supervisory authorities in third countries and the enforcement of obligations arising under this Regulation in third countries unless that third country is on the Commission's list of non- cooperative countries. Those cooperation arrangements shall ensure at least an efficient exchange of information that allows the competent authorities to carry out their duties under this Regulation.
Amendment 640 #
2015/0268(COD)
Proposal for a regulation
Article 45 – paragraph 2 – subparagraph 1 a (new)
Article 45 – paragraph 2 – subparagraph 1 a (new)
Those statistics should also cover the cost of fundraising, broken down between the different elements such as underwriting and placing commissions, financial advisory fees, reporting accountant fees, and legal fees.
Amendment 119 #
2015/0226(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) Securitisation is an important element of well-functioning financial markets. Soundly structured securitisation is an important channel for diversifying funding sources and allocating risk more efficiently within the Union financial system. It allows for a broader distribution of financial sector risk and can help to free up originator's balance sheets to allow for further lending to the economy. Overall, it can improve efficiencies in the financial system and provide additional investment opportunities. Securitisation can create a bridge between credit institutions and capital markets with an indirect benefit for businesses and citizens (through, for example, less expensive loans and business financing, credits for immovable property and credit cards). Securitisation may also allow individual credit institutions to lower their balance sheet rigidities, to better manage their portfolio risk concentrations and to create simpler, long term financial instruments for investors. Those capabilities may collectively improve financial sector flexibility and encourage broader, long term investment in the real economy. At the same time, securitisation can raise the risks of increased interconnectedness and of excessive leverage. It also has the potential to encourage speculative, short term investment and for regulatory arbitrage. This Regulation therefore encourages the strict monitoring by competent authorities of a financial institution's participation in the market.
Amendment 133 #
2015/0226(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Investments in or exposures to securitisations will not only expose the investor to credit risks of the underlying loans or exposures, but the structuring process of securitisations could also lead to other risks such as agency risks, model risk, legal and operational risk, counterparty risk, servicing risk, liquidity risk, concentration risk and risks of operational nature. Therefore, it is essential that institutional investors, including asset managers, are subject to proportionate due diligence requirements ensuring that they properly assess the risks arising from all types of securitisations, to the benefit of end investors. Due diligence can thus also enhance confidence in the market and between individual originators, sponsors and investors. It is necessary that investors also exercise appropriate due diligence with regard to STS securitisations.. They can inform themselves with the information disclosed by the securitising parties, in particular the STS notification and the related information disclosed in this context, which should provide investors with all the relevant information on the way STS criteria are met. Institutional investors should be able to place appropriate reliance on the STS notification and the information disclosed by the originator, sponsor and SSPE on whether a securitisation meets the STS requirements.
Amendment 141 #
2015/0226(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) The ability of investors and prospective investors to exercise due diligence and thus make an informed assessment of the creditworthiness of a given securitisation instrument depends on their access to reliable and easy-to-use information on those instruments.. Based on the existing acquis, it is important to create a comprehensive system under which investors will have access to all theand prospective investors can easily access all relevant information over the entire life of the transactions and to reduce originators', sponsors' and SSPE's reporting tasks and to facilitate investors' continuous; easy and free access to reliable information on securitisations. . To enhance market transparency, a data repository providing easy access to data on aggregate market trends, comparisons with standard securitisation structure as well as granular data on the supporting securitisation collateral should be established. This data repository, known as the European Securities Data Repository (ESDR), need not generate and manage all of this information itself. Similar non-mandatory initiatives already exist, which have led to the establishment of infrastructure such as the European DataWarehouse. The information required to be disclosed should therefore rely on existing templates and exploit existing infrastructure insofar as practical. The ESDR's effort will extend beyond existing infrastructure to capture data on potential systemic risks. As such, the ESDR should focus upon reducing risk asymmetries, generating transparency that supports systemic risk management and which, in turn, encourages market discipline. At the same time, the ESDR should encourage and support the market's long-term, sustainable development while engaging with all three of its major constituents, that is the risk sellers, the risk buyers and the supervisors. ESDR governance should emulate the governance established for the Global LEI Foundation (GLEIF). Specifically, oversight of the ESDR should be shared between risk selling, risk buying and supervisory community representatives. ESMA should co-ordinate and lead the supervisory community's oversight effort. Other European Supervisory Authorities, notably the European Systemic Risk Board (ESRB), the European Central Bank and the European Insurance and Occupational Pensions Authority (EIOPA) should also consider how this data repository might help them respond to their respective responsibilities.
Amendment 159 #
2015/0226(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) Where originators, sponsors and SSPE's would like their securitisations to use the STS designation, they should notify investors, competent authorities and ESMA thaof their intent to list the securitisation as meetsing the STS requirements. ESMA should then publish itOnce the ESDR has confirmed that data for all applicable disclosure points has been received, ESMA should then publish the nominated transaction on a list of transactions made available on its website for information purposes. The same list of transactions should also appear on the ESDR's website. The inclusion of a securitisation issuance in ESMA’'s list of notified STS securitisations does not imply that ESMA or other competent authorities have certified that the securitisation meets the STS requirements or that the data provided is accurate and timely. The compliance with the STS requirements remains solely the responsibility of the originators, sponsors and SSPEs. This will ensure that originators, sponsors and SSPE's take responsibility for their claim that the securitisation is STS, that the data they provide is accurate and timely and that there is transparency on the market.
Amendment 169 #
2015/0226(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) Member States should designate competent authorities and provide them with the necessary supervisory, investigative and sanctioning powers to supervise participants in the STS market. Administrative sanctions and remedial measures should, in principle, be published. Since investors, originators, sponsors, original lenders and SSPEs can be established in different Member States and supervised by different sectoral competent authorities close cooperation between relevant competent authorities, including the European Central Bank (ECB) in accordance with Council Regulation (EU) No 1024/201324 , and with the ESAs should be ensured by the mutual exchange of information and assistance in supervisory activities. __________________ 24 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013. p. 263).
Amendment 173 #
2015/0226(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) In order to facilitate the process to investors, originators, sponsors and SSPE's, the same power to adopt acts should be delegated to the Commission in respect of the adoption of regulatory technical standards regarding the templateminimum data reporting requirements for STS notifications that will provide investors and competent authorities with sufficient information for their assessment of compliance with the STS requirements. In view of the expertise of ESMA, in defining the delegated acts, the Commission should make use of that expertise on the preparation of the delegated acts. ESMA should consult closely with the other two European Supervisory Authorities.
Amendment 175 #
2015/0226(COD)
Proposal for a regulation
Recital 37
Recital 37
(37) For securitisation positions outstanding as of the date of entry into force of this Regulation, originators, sponsors and SSPEs may use the designation 'STS' provided that the securitisation complies with the STS requirements. Therefore, originators, sponsors and SSPEs should be able to submit an STS notification pursuant to Article 14 (1) of this Regulation to ESMA as set out in Recital 20.
Amendment 278 #
2015/0226(COD)
Proposal for a regulation
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
1. The originator, sponsor and SSPE of a securitisation shall, in accordance with paragraph 2, make at least the following information available to holders of a securitisation position and to the competent authorities referred to in Article 15 of this Regulation. o capture and promote the flow of real time information on STS securitisations, to reduce information asymmetries between risk seller and risk buyer, to improve aggregate market transparency and to support the emergence of market discipline, a data repository will be created. This data repository will be known as the 'European Securitisation Data Repository' (ESDR). The ESDR will fulfil the above role as a stand alone, neutral, not for profit entity. The ESDR shall be established by the Commission contemporaneously with the date of application of this Regulation and after consultation with representatives of the STS originating, STS investing and STS supervisory communities (the ESDR's "Constituents"). The ESDR's legal structure and governance shall follow a structure similar to that used for the Global Legal Entity Identifier. ESDR publications shall be phased in as quickly as practical thereafter. The originator, sponsor and SSPE of a securitisation shall, in accordance with paragraph 2, channel all legally required communications to holders of a securitisation position and to the competent authorities referred to in Article 15 of this Regulation using communications channels to be established by the ESDR. This obligation will continue until all investors have been repaid and will include:
Amendment 285 #
2015/0226(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point a a (new)
Article 5 – paragraph 1 – point a a (new)
Amendment 298 #
2015/0226(COD)
Proposal for a regulation
Article 5 – paragraph 2 – introductory part
Article 5 – paragraph 2 – introductory part
2. The originator, sponsor and SSPE of a securitisation shall designate amongst themselves one entity to fulfil the information requirements pursuant to paragraph 1 and paragraph 1a. The originator, sponsor and SSPE shall ensure that the information is available free of charge to the holder of a securitisation position andcommunicated to the ESDR and the competent authoritiesy without charge, in a timely and clear manner. The entity designated to fulfil the requirements set out in paragraph 1 shall make the information available by means of a website which shall;
Amendment 304 #
2015/0226(COD)
Proposal for a regulation
Article 5 – paragraph 3 – point b – introductory part
Article 5 – paragraph 3 – point b – introductory part
(b) the minimum communication services, data capture and publication requirements to be met by the websiteESDR as referred to in paragraph 2 on which thes 1 and 2 inf ormation shall be made available toder to support holders of securitisation positions, in particular with regard to: ensuring ease of data and information access.
Amendment 405 #
2015/0226(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. Originators, sponsors and SSPE's shall jointly notify ESMA by means of the templateESDR communications services referred to in paragraph 5 of this Article that the securitisation meets the requirements of Articles 7 to 10 or Articles 11 to 13 of this Regulation ('STS notification'). Both the ESDR and ESMA shall publish the STS notification on itstheir official website pursuant to paragraph 4. They shall also informProper use of the ESDR communication channel will ensure that their competent authorityies are notified in a timely manner. The originator, sponsor and SSPE of a securitisation shall designate amongst themselves one entity to be the first contact point for investors and competent authorities. Where the originator, sponsor and SSPE have not agreed between themselves which entity shall accomplish the requirements under this Article, the originator shall comply with those requirements.
Amendment 420 #
2015/0226(COD)
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. The originator, sponsor andor SSPE shall use the ESDR communications channels to immediately notify ESMA and their competent authority when a securitisation no longer meets the requirements of either Articles 7 to 10 or Articles 11 to 13 of this Regulation.
Amendment 424 #
2015/0226(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. The ESDR and ESMA shall each maintain a list of all securitisations for which the originators, sponsors and SSPEs have notified that they meet the requirements of Articles 7 to 10 or Articles 11 to 13 of this Regulation on its official website.n its website. The ESDA and ESMA shall update the list where the securitisations are no longer considered to be STS following a decision of competent authorities or a notification by the originator, sponsor or SSPE. Where the competent authority has imposed administrative sanctions or remedial measures in accordance with Article 17, it shall immediately notify ESMA thereof. using the ESDR's communications channel. The ESDR and ESMA shall immediately indicate on the list that a competent authority has imposed administrative sanctions or remedial measures in relation to the securitisation concerned.
Amendment 42 #
2015/0068(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) The possibility that the provision of information may be refused where it would lead to the disclosure of a commercial, industrial or professional secret or of a commercial process, or of information whose disclosure would be contrary to public policy should not apply to provisions of mandatory automatic exchange of information on advance cross- border rulings and advance pricing arrangements in order not to reduce the effectiveness of these exchanges. The limited nature of the information that is required to be shared with all Member States should ensure sufficient protection of those commercial interests.
Amendment 48 #
2015/0068(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) In order to reap the benefits of the mandatory automatic exchange of advance cross-border rulings and advance pricing arrangements, the information should be communicated promptlyimmediately after and at the latest one month after the end of the quarter during which after they are issued and therefore regular intervals for the communication of the information should be established (at least twice a year).
Amendment 51 #
2015/0068(CNS)
Proposal for a directive
Recital 7
Recital 7
(7) The mandatory automatic exchange of advance cross-border rulings and advance pricing arrangements should in each case include communication of a defined set of basic information to all Member States. The Commission should adopt any measures necessary to standardise the communication of such information under the procedure laid down in Directive 2011/16/EC for establishing a standard form to be used for the exchange of information. That procedure should also be used in the adoption of any necessary measures and practical arrangements for the implementation of the information exchange.
Amendment 54 #
2015/0068(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Member States should exchange the basic information to be communicated also with the Commission. This would enable the Commission at any point in time to monitor and evaluate the effective application of the automatic exchange of information on advance cross-border rulings and advance pricing arrangements. Such communication will not discharge a Member State from its obligations to notify any state aid to the Commission.
Amendment 64 #
2015/0068(CNS)
Proposal for a directive
Recital 10
Recital 10
(10) A Member State should be able to rely on Article 5 of Directive 2011/16/EU as regards the exchange of information on request to obtain additional information, including the full text of advance cross- border rulings or advance pricing arrangements, from the Member State having issued such rulings or arrangements.
Amendment 65 #
2015/0068(CNS)
Proposal for a directive
Recital 11
Recital 11
(11) Member States should take all measures necessary to remove any obstacle that might hinder the effective and widest possible mandatory automatic exchange of information on advance cross-border rulings and advance pricing arrangements.
Amendment 75 #
2015/0068(CNS)
Proposal for a directive
Recital 15
Recital 15
(15) The existing provisions regarding confidentiality should be amended to reflect the extension of mandatory automatic exchange of information to advance cross-border rulings and advance pricing arrangements.
Amendment 85 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – introductory part
Article 3 – point 14 – introductory part
14. 'advance cross-border ruling' means any agreement, communication, or any other instrument or action with similar effects, including one issued in the context of a tax audit, which:
Amendment 87 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – point c
Article 3 – point 14 – point c
(c) relates to a cross-border transaction or to the question of whether or not activities carried on by a legal person in the other Member State create a permanent establishment, and;
Amendment 88 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – subparagraph 2
Article 3 – point 14 – subparagraph 2
The cross-border transaction may involve, but is not restricted to, the making of investments, the provision of goods, services, finance or the use of tangible or intangible assets and does not have to directly involve the person receiving the advance cross-border ruling;
Amendment 89 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 15 – subparagraph 1
Article 3 – point 15 – subparagraph 1
'advance pricing arrangement' means any agreement, communication or any other instrument or action with similar effects, including one issued in the context of a tax audit, given by, or on behalf of, the government or the tax authority of one or more Member States, including any territorial or administrative subdivision thereof, to any person that determines in advance of cross-border transactions between associated enterprises, an appropriate set of criteria for the determination of the transfer pricing for those transactions or determines the attribution of profits to a permanent establishment.
Amendment 104 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 1
Article 8a – paragraph 1
1. The competent authority of a Member State issuing or amending an advance cross-border ruling or an advance pricing arrangement after the date of entry into force of this Directive shall, by automatic exchange, communicate information thereon to the competent authorities of all other Member States as well as to the European Commission.
Amendment 110 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 2
Article 8a – paragraph 2
2. The competent authority of a Member State shall also communicate information to the competent authorities of all other Member States as well as to the European Commission on advance cross-border rulings and advance pricing arrangements issued within a period beginning ten years before the entry into force but still valid on the date of entry into force of this Directive;
Amendment 120 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 3
Article 8a – paragraph 3
3. Paragraph 1 shall notalso apply in a case where an advance cross-border ruling exclusively concerns and involves the tax affairs of one where the request for an advance ruling relates to a legal structure without legal personality. In that instance, the competent authority of the Member State issuing the advance ruling shall forward the information it has to the competent authorities of all other Member States and shall arrange for the memorandum of incorporation to be transferred to the Member State or States where the incorporator more natural persons incorporators and the beneficiary or beneficiaries are resident.
Amendment 122 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 4 – point a
Article 8a – paragraph 4 – point a
(a) in respect of the information exchanged pursuant to paragraph 1: withinimmediately after and at the latest one month followingafter the end of the quarter during which the advance cross-border rulings or advance pricing arrangements have been issued or amended.
Amendment 124 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 4 – point b
Article 8a – paragraph 4 – point b
(b) in respect of the information exchanged pursuant to paragraph 2: before 31 December 2016within three months following the entry into force;
Amendment 127 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point b
Article 8a – paragraph 5 – point b
(b) the content of the advance cross-border ruling or advance pricing arrangement, including a description of the relevant business activities or transactions or series of transactions;
Amendment 129 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point d
Article 8a – paragraph 5 – point d
(d) the identification of the other Member States likely to be directly or indirectly concerned by the advance cross-border ruling or advance pricing arrangement;
Amendment 130 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point e
Article 8a – paragraph 5 – point e
(e) the identification of any person, other than a natural person, in the other Member States likely to be directly or indirectly affected by the advance cross-border ruling or advance pricing arrangement (indicating to which Member State the affected persons are linked).
Amendment 131 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point e a (new)
Article 8a – paragraph 5 – point e a (new)
(ea) as soon as it is available, the European Tax identification Number (TIN) as outlined in the Commission's Action Plan on the fight against tax fraud and tax evasion of 2012.
Amendment 135 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 a (new)
Article 8a – paragraph 5 a (new)
5a. Member States shall require each issuer to annually publicly disclose, specifying by Member State and by third country in which it has a subsidiary, the following information on a consolidated basis for the financial year : (a) name(s), nature of activities and geographical location, (b) turnover, (c) number of employees on a full-time equivalent basis, (d) profit or loss before tax, (e) tax on profit or loss, (f) public subsidies received.
Amendment 136 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 6
Article 8a – paragraph 6
6. To facilitate the exchange the Commission shall adopt any measures and practical arrangements necessary for the implementation of this Article, including measures to standardise the communication of the information set out in paragraph 5 of this Article, as part of the procedure for establishing the standard form provided in Article 20(5). In Member States where decentralised territorial or administrative bodies are endowed with fiscal-related competences, the Commission shall assist member states to ensure that they meet their responsibility to provide training and support to these bodies.
Amendment 138 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 8
Article 8a – paragraph 8
8. Member States – or their territorial or administrative bodies including local authorities if applicable – may, in accordance with Article 5, request additional information, including the full text of an advance cross- border ruling or an advance pricing arrangement, from the Member State which issued it.
Amendment 139 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 8 a (new)
Article 8a – paragraph 8 a (new)
8a. A minimum tax rate shall be established.
Amendment 157 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2011/16/EU
Article 20 – paragraph 5
Article 20 – paragraph 5
5. The automatic exchange of information on advance cross-border rulings and advance pricing arrangements pursuant to Article 8a shall be carried out using a standard form once that form has been adopted by the Commission in accordance with the procedure referred to in Article 26(2).
Amendment 161 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2011/16/EU
Article 21 – paragraph 5
Article 21 – paragraph 5
5. TOn 31 December 2016 at the latest, the Commission shall develop a secure central directory where information to be communicated in the framework of Article 8a of this Directive mayust be recorded in order to satisfy the automatic exchange provided for in paragraphs 1 and 2 of Article 8a. The Commission shall have access to the information recorded in this directory. The necessary practical arrangements shall be adopted by the Commission in accordance with the procedure referred to in Article 26(2).
Amendment 173 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 8 a (new)
Article 1 – paragraph 1 – point 8 a (new)
The following Article is inserted: “Article 23b The Commission must examine all sanctions to be established in instances of refusal or omission of information exchange.”
Amendment 174 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 8 b (new)
Article 1 – paragraph 1 – point 8 b (new)
Directive 2011/16/EU
Article 23 c (new)
Article 23 c (new)
The following Article is inserted: “Article 23c The Commission should accommodate and extend the working methods and the established criteria in the code of conduct in order to fight against the emergence of new forms of harmful fiscal practices within the present economic environment.”
Amendment 112 #
2015/0009(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Taking into account that creative industries in Europe make a substantial contribution to the EU economy, creating more than EUR 550 billion in value added to the GDP and providing 8,3 million full- time jobs, financing under the EFSI should also foster investment and growth in the creative and cultural sector and strengthen Europe's cultural and creative industries, in particular start-ups, innovative SMEs and creative businesses.
Amendment 226 #
2015/0009(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Taking into account that creative industries in Europe make a substantial contribution to the EU economy, creating more than €550 billion in value added to the GDP and providing 8.3 million full- time jobs, financing under the EFSI should also foster investment and growth in the creative and cultural sector and strengthen Europe's cultural and creative industries, in particular start-ups, innovative SMEs and creative businesses.
Amendment 229 #
2015/0009(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Taking into account that creative industries in Europe make a substantial contribution to the EU economy, creating more than €550 billion in value added to the GDP and providing 8.3 million full-time jobs, financing under the EFSI should also foster investment and growth in the creative and cultural sector and strengthen Europe's cultural and creative industries, in particular start- ups, innovative SMEs and creative businesses.
Amendment 240 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium-sized enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'), taking into account the considerable financing needs of start- ups, innovative technology-based companies and creative businesses.
Amendment 262 #
2015/0009(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use. With the aim to better protect and reap commercial and economic benefits from EU co-funded initiatives, a set of rules as established in Horizon 2020 concerning the exploitation and dissemination of project results, including their protection through intellectual property, should be respected by the participants of EFSI projects.
Amendment 293 #
2015/0009(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 321 #
2015/0009(COD)
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) When carrying out the tasks conferred on them by this Regulation, the governing bodies of the EFSI (namely, the Steering Board and the Investment Committee) should act independently and in the interests of the EFSI and should not seek or take instructions from any public or private body.
Amendment 347 #
2015/0009(COD)
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) The Investment Committee should establish a set of transparent, fair and objective criteria for project evaluation, which should be publicly known and which should serve the Investment Committee in their deliberations. The results of the deliberations of the Investment Committee should be publicly known.
Amendment 354 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure, in particular broadband and digital infrastructure for cultural and creative industries;
Amendment 373 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and, innovation, creativity and culture;
Amendment 417 #
2015/0009(COD)
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23a) As national contributions to the EFSI will not be taken into account by the Commission when defining the fiscal adjustment under the preventive and the corrective arm of the Stability and Growth Pact, Eurostat should adopt as soon as possible the rules for the statistical recording and categorisation of Member State contributions to EFSI in order to create predictability and certainty for Member States when they prepare their presentation of their stability and convergence programmes and national reform programmes.
Amendment 558 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium-sized enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'), taking into account the considerable financing needs of start- ups, innovative technology-based companies and creative businesses.
Amendment 571 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium-sized enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'), taking into account the considerable financing needs of start- ups, innovative technology-based companies and creative businesses.
Amendment 591 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties within the European Union, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 672 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
Amendment 695 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, attracting private sector investment, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 722 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 3
Article 2 – paragraph 2 – subparagraph 3
The EIAH shall be partially financed by the Union up to a maximum amount of EUR 20 000 000 per year during the period ending on 31 December 2020 for the additional services provided for by the EIAH over existing EIB technical assistance. For the years after 2020 the financial contribution from the Union shall be directly linked to the provisions included in the future multi-annual financial frameworks. The Commission shall make every effort to create synergies between the Union's numerous funding and investment advisory services. The EIAH should be capable of signposting to all other EU funding streams.
Amendment 766 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1a. When carrying out the tasks conferred on them by this Regulation, the governing bodies of the EFSI referred to in this Article shall act independently and in the interests of the EFSI and shall not seek or take instructions from any public or private body.
Amendment 858 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of sixeight independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance andstructuring and projects financing as well as macroeconomic expertise. The Investment Committee shall encompass a broad range of expertise in various sectors, such as research, development and innovation, SMEs, and transport. It will also contain a mix of long-term and short-term investment expertise. It shall be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 867 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years. At least of or more of the investment committee members will have a background in 'investment in education and training' and 'research and development and innovation'.
Amendment 909 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. High quality and up-to-date data is critical to EFSI's success and its analysis. The steering board must, in collaboration stakeholders, agree a framework for the data required to support preparation, assurance and scrutiny of projects. This data collection should be broad enough in scope, and continue for as long as is necessary for independent researchers to properly analyse success or failure and should be publicly available.
Amendment 920 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies andmust support anyt least some of the following general objectives:
Amendment 934 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure, in particular broadband and digital infrastructure for cultural and creative industries;
Amendment 947 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure, in particular broadband and digital infrastructure for cultural and creative industries;
Amendment 959 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and, innovation, creativity and culture;
Amendment 967 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and, innovation, creativity and culture;
Amendment 982 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiency, in particular energy efficiency improvement of housing ;
Amendment 996 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, and natural resources, urban development and social fields; ;
Amendment 997 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
(da) social infrastructures projects in the social field built environment and urban development and services including social housing and public buildings.
Amendment 1006 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) (f) creation of sustainable employment; (g) development of digital infrastructure, information and communications technology and innovation including cultural and creative industries;
Amendment 1076 #
2015/0009(COD)
Proposal for a regulation
Article 5 a (new)
Article 5 a (new)
Article 5 a Public Assets Where private actors will be delivering and maintaining public assets over time, contracts that include an EU guarantee should have clear contractual arrangements to ensure that charges levied are both reasonable and equitable, reflecting appropriate allocation of risk between different parties.
Amendment 1217 #
2015/0009(COD)
Proposal for a regulation
Article 9 – paragraph 3 a (new)
Article 9 – paragraph 3 a (new)
3a. The pipeline should be highly visible and user-friendly for all targeted users
Amendment 1222 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The EIB, in cooperation with the EIF as appropriate, shall report semi-annually to the European Parliament, the Council and the Commission on EIB financing and investment operations under this Regulation. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and the key performance indicators established pursuant to Article 2(1)(g). The report shall also include statistical, financial and accounting data on each EIB financing and investment operation and on an aggregated basis.
Amendment 1303 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3a. In the event that EFSI invests in projects that go against the principles outlined in this document, steering board members will be held accountable by The European Parliament, which may remove board members.
Amendment 1369 #
2015/0009(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. In its financing and investment operations, the EIB shall not support any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, or fraud affecting the financial interests of the Union. In particular the EIB shall not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction, in line with its policy towards weakly regulated or non-cooperative jurisdictions based on policies of the Union, the Organisation for Economic Cooperation and Development or the Financial Action Task Force. EFSI shall not be used to support the privatisation of public services.
Amendment 1395 #
2015/0009(COD)
Proposal for a regulation
Article 18
Article 18
Regulation (EU) No 1291/2013
Article 6, paragraphs 1, 2 and 3
Article 6, paragraphs 1, 2 and 3
Amendment 1438 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Regulation (EU) No 1316/2013
Article 5
Article 5
Amendment 7 #
2014/2229(INI)
Motion for a resolution
Citation 20 a (new)
Citation 20 a (new)
- having regard to the UN Security Council resolutions 2139, 2165 and 2191 authorising cross-border and cross-line access for the UN and its partners to deliver humanitarian aid in Syria without state consent,
Amendment 20 #
2014/2229(INI)
Motion for a resolution
Citation 22
Citation 22
– whereas it is necessary to review EU action in the MENA area in the light of the implications of the Arab uprisings for the countries concerned, the new and complex situation thus created and the imperative need to combat the ISISerrorist groups as well as step up pressure on authoritarian regimes in the region, which through their policies of repression have been instrumental in facilitating the rise of such groups; whereas stabilisation in the region is not a security issue alone but also has economic, political and social implications, requiring the Union to develop strategic global and multifaceted cooperation with all parties the region, in the medium and long term;
Amendment 27 #
2014/2229(INI)
Motion for a resolution
Citation 23
Citation 23
– having regard to the escalating crises and conflicts, their ethnic and sectarian dimension, the rise of paramilitary groups and the weakness or collapse of certain states in the region; whereas the MENA countries and international community have shared security interests in connection with the fight against ISISfighting terrorism and supporting inclusive democratic reform;
Amendment 36 #
2014/2229(INI)
Motion for a resolution
Citation 24
Citation 24
– whereas the respective conflicts in Iraq and Syria isare exacerbating regional tensions, with the risk of political confrontation between Sunni and Shia extending beyond their immediate borders and jeopardising other countries in the region;
Amendment 46 #
2014/2229(INI)
Motion for a resolution
Citation 25
Citation 25
– having regard to the limited influence of the European Union in the region and the declining influence of the Member States; whereas long-term political and economic stability in the MENA region is of fundamental strategic importance to the Union; whereas achieving inclusive democratic reform will be crucial in bringing this about; whereas the Union accordingly has a major role to play in the region;
Amendment 106 #
2014/2229(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Recalls that the emergence of ISISrise and spread of terrorist groups in MENA is a symptom of the economic, political, social and cultural crisis afflicting the region; calls on the EU, together with the Arab world, to assess the root causes and adopt a global approach through an approach based on security, political, economic, social and cultural considerations;
Amendment 212 #
2014/2229(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Stresses the urgent need for a political solution to the conflict in Syria, taking due account of the moderate opposition existing alongside the Syrian National Councilalition and strengthening the moderate Sunni components; in this respect welcomes the Syrian National Coalition’s efforts in broadening its membership and engaging with other opposition groups in support of an inclusive political solution, including through recent engagement with the National Coordination Commission to set out the oppositions' vision for political transition; points out that no democratic solution in line with the fundamental principles of the Union can be negotiated with Bachar Al-Assad, following the massacres perpetrated by him;
Amendment 218 #
2014/2229(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for any initiative to end the fighting in Syria to take into account the requirements of international humanitarian law; calls on the European Union to step up its efforts to channel humanitarian aid towards theincrease pressure on the Assad regime to comply with UN Security Council Resolutions 2139, 2165 and 2191 to ensure effective delivery of humanitarian aid on the ground, including in areas controlled by the moderate opposition;
Amendment 301 #
2014/2229(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Stresses the need to develop an effective common European response by all Member States to jihadist propaganda; calls for the appointment of Arab speaking staff in the EEAS to increase the effectiveness of communication towards the Arab world, underlines the need to send a positive message regarding relations between the European Union and the MENA countries and cooperation between them; stresses the need to ensure much greater visibility for EU initiatives in the region than is now the case;
Amendment 46 #
2014/2228(INI)
Draft opinion
Paragraph 2 c (new)
Paragraph 2 c (new)
2c. Underscores that, in order to safeguard the ability of governments to legislate in the public interest on health, labour, and environmental issues, amongst other fields, an ISDS mechanism should not be included in TTIP; notes that a state-to-state dispute settlement system and the use of national courts are the most appropriate tools to address investment disputes;
Amendment 63 #
2014/2228(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that the EU's energy supply largely depends on foreign sources; emphasises the considerable contribution the TTIP could make to the EU'sAcknowledges the potential of TTIP to increase energy supply diversification and to its energy security by, inter alia, lifting licensing requirements for US gas exportsin the EU; urges the Commission to explore ways in which this potential could be exploited in line with high environmental standards and ambitious EU goals on tackling climate change;
Amendment 100 #
2014/2228(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Welcomes the fact that the Commission is taking steps aiming to improve the transparency of the negotiations; calls on the Commission to disclose all EU positions to the public, including the EU services offer, which contains crucial information on the extent to which public services will be affected by the agreement.
Amendment 41 #
2014/2221(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Expresses concern that most Member States are still losing market shares globally and have a growing negative net international investment position; believes that the EU economy as a whole needs to boost its competitiveness further in the global economy, particularly by increasing competition in the product and services markets in order to enhance innovation- driven efficiency, while keeping labour costs in line with productivity;.
Amendment 50 #
2014/2221(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that the lack of investment is caused by low confidence, high indebtedness, slow deleveraging and subdued expectations of demand; as well as difficult access to financing.
Amendment 66 #
2014/2221(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the Investment Plan for Europe, which is an important instrument for increasing private and public investment; notes that the plan is meant to trigger additional investment, develop new projects, attract investors and restore confidence; underlines the need for appropriate targeted resources from Member States and the importance of the flexibility clause thereto. Believes that the EU investment plan should focus in the first place on projects with a European added value which are not eligible for banking finance yet.
Amendment 109 #
2014/2221(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ambitious structural reforms implemented by those Member States most affected by the crisis; welcomes as well the fact that those Member States that have successfully implemented adjustment programmes or financial sector programmes have been able to return to the capital markets, where they now access capital at low interest rates; deeply regrets the social cost of these efforts undertaken by the Member States. Is therefore convinced of the need of more flexibility in the future economic governance reforms.
Amendment 147 #
2014/2221(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for urgent action to be taken by the Commission to fight tax fraud and, tax evasion and to set up a list of tax paradises; calls for a tax system that is simple and transparent; reiterates its call on the Member States to shift taxes from labour to consumption;urges the European Commission to review the legislation on audit companies.
Amendment 201 #
2014/2221(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Agrees with the Commission that most Member States need to continue to pursue growth-friendly fiscal consolidation; invites Member States with sufficient fiscal space to consider reducing taxes and social security contributions with a view to stimulating private investment; as well as to tackle all kind of fiscal and social fraud in an appropriate way.
Amendment 4 #
2014/2220(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Considers the European Union and neighbourhood security environment to be increasingly unstable and volatile; regards the war in Ukraine, the conflicts in Syria and Iraq, with the rise of the terrorist organisation ISIS, the Libyan crisis and the terrorist threat in the Sahel as direct threats to the Union’s security; considers, too, that the US ‘pivot to Asia’ andtakes the view that increasing US and Russian involvement in Asia imposes the need for the EU to develop a more proactive security strategy towards the region; considers, too, that the impact of the financial crisis on Member States’ budgets and capabilities only highlight how necessary it is for the Union to shoulder more responsibility for its own security and defence;
Amendment 104 #
2014/2220(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses the importance of EU security and defence cooperation with other international institutions, particularly the UN, NATO, the African Union and the OSCE as well as relevant platforms of regional organisations that are of strategic importance to the EU, such as the ASEAN Defence Ministers Meeting (ADMM) and SAARC mechanisms dealing with security; welcomes the statement from the NATO summit in Wales in September 2014 reasserting support for the development of the CSDP;
Amendment 131 #
2014/2220(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
Amendment 132 #
2014/2219(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is concerned by the lack of flexibility within the EU’s financial rules, which often leads to delays in operational disbursement of EU funds and places additional obstacles in the way of the EU’s ability to respond to crises; asks the Commission to come up in 2015 with a proposal to reform the relevant legislation, including by allowing the fast-track procedure, currently available for humanitarian assistance, to be used for crisis management while ensuring that spending in reaction to crises is coherent with EU long-term strategic goals;
Amendment 330 #
2014/2219(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Insists on the need to substantially revise the EU´s policy towards its southern neighbourhood, and to develop a comprehensive strategy focusing the EU’s instruments and scarce budgetary resources on support for the building of functioning and inclusive states capable of delivering democracy and security for their citizens, confronting religious extremism and enhancing the rule of law, which is a key precondition for confronting religious extremism and stepping up investment and economic development; points to the unused potential of cross- border trade within the region; insists on close cooperation on managing migration flows, while respecting human rights;
Amendment 386 #
2014/2219(INI)
Motion for a resolution
Paragraph 35 a (new)
Paragraph 35 a (new)
35a. Condemns the brutal violence used by the Assad regime against Syrian citizens and calls for stepping up pressure to bring about a genuine political transition in Syria, including by increasing support to the moderate Syrian opposition;
Amendment 397 #
2014/2219(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Believes that the US is the EU’s key strategic partner, and encourages closer coordination with the US on EU foreign policy, pursuing common approaches to challenges in the EU neighbourhood and at global level; underlines the strategic nature of the Transatlantic Trade and Investment Partnership, which has the potential to enable the transatlantic partners to set global standards and strengthen global governanceand calls for making the establishment of high global standards on labour, health and environment and the safeguarding of the ability of EU member states' governments to adopt legislation in the interest of the public red lines for the EU in negotiations; believes that Latin America is an important partner for the EU and that various modalities of triangular transatlantic cooperation should be developed;
Amendment 415 #
2014/2219(INI)
Motion for a resolution
Paragraph 39
Paragraph 39
39. Underlines the need for a strategy, in coordination with the US, on how to draw Russia, China, India and other major powers into responsibility for the peace and stability of the global political and economic order; points out the importance of enhancing relations with pivotal states in Asia as well as regional organisations like ASEAN in the context of this strategy; to this end, urges the HR/VP and the Council to re-think strategic partnerships;
Amendment 46 #
2014/2156(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Takes note in that context of the establishment of a Task Force, led by the Commission and the European Investment Bank, with a view to identifying concrete actions to boost investment, including a pipeline of potentially viable projects of European relevance to be realised in the short and medium term; however, with the aim of making EU economy less dependent on bank finance, this task force needs to focus on projects that do not easily qualify for finance by banks, and should also consider the practice of overreliance on AAA-rating by the EIB; emphasises that this Task Force should explicitly identify hurdles and remedies for increasing investments and actively seek the involvement of Parliament, social partners and CSOs;
Amendment 94 #
2014/2144(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Invites the EC to come up with a clear legislative framework to ensure equality between e-products and their physical alternatives;
Amendment 138 #
2014/2144(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to develop further initiatives to promote good governance in tax matters in third countries, to tackle aggressive tax planning and to address double taxation gaps; invites the Commission therefore to come up in every relevant legislative proposal a clause to ensure the objectives of the legislation are not circumvented via tax constructions;
Amendment 206 #
2014/2144(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for authorities to suspend or revoke the banking licences of financial institutions if they assist in tax fraud; invites the European Commission to revise the regulation on audit companies in order to strengthen their independence to ensure that they are not compromised if the offer tax planning services;
Amendment 209 #
2014/2144(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for stronger sanctions to prevent companies breaching EU tax standards, by refraining from granting EU funding and access to state aid or to public procurement to fraudulent companies; urges MSs to recover all kind of public support given to companies when they are involved in breaching EU tax standards;
Amendment 219 #
2014/2144(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls upon the Commission to intensify its use of EU state aid rules against aggressive tax planning and to open from this perspective procedures against the companies mentioned in the Lux leaks revelations;
Amendment 235 #
2014/2144(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls Parliament’s plea24 for a strengthening of the economic governance framework; calls on the Commission and MSs to enhance the use of the European Semester by integrating the EU tax gap strategy into the annual national stability and growth programmes and national reform programmes; calls on the Commission to invite the MSs to list up and describe in their national reform programmes all tax exemptions given to companies; __________________ 24 Resolution on the European Semester for economic policy coordination: implementation of 2014 priorities (texts adopted, P8_TA(2014)0038) and resolution on Fight against Tax Fraud, Tax Evasion and Tax Havens (texts adopted, P7_TA(2013)0205).
Amendment 240 #
2014/2144(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that the quantitative measurement of macroeconomic targets should be accompanied by qualitative indicators (social and environmental as well as national measures adopted to tackle tax fraud, for example), in order to address long-term goals; calls on the Commission, when drafting the country- specific recommendations, to carry out an in-depth study of the MSs’ differences;
Amendment 252 #
2014/2144(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls on MSs to shift the tax burden away from labour to other forms of sustainable and indirect taxationtaxation, in particular environmental taxes, in order to promote growth and job creation;
Amendment 262 #
2014/2144(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Urges MSs, when introducing property taxes based upon the real value of the property, to ensure the fundamental right of accommodation, by protecting the principal house of each taxpayer;
Amendment 292 #
2014/2144(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines the fact that MSs’ taxation policy on environmental taxes should be aligned with the EU 2030 strategy; recognises that an increase in environmental and property taxes has the potential to generate revenues and jobs; calls on the Commission to come forward with appropriate legislative proposals;
Amendment 48 #
2014/2059(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes the fact that economic recovery in the EU is under way; reiterates, however, that this recovery is very fragile and uneven, and must be sustained in order to deliver more growth and jobs in the, and less social inequality in the short and medium term;
Amendment 67 #
2014/2059(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the ambitious structuralReminds the Commission of the two refpormts implemented by Member States under the macroeconomic adjustment programmes; finds it regrettable that the Member States in the rest of the euro area are less ambitious in modernising their economies, which is adopted by the European Parliament concerning the Troika in March 2014, which criticizes the ad hoc system of the Troikas and request the Commission to implement the recommendatione of the reasons for the low growth prospects in the medium and long termEuropean Parliament without delay. Notes the ambitious structural reforms implemented by Member States under the macroeconomic adjustment programmes;
Amendment 85 #
2014/2059(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses, therefore, the importance of continuing the process of deep and sustainable structural reforms to deliver on growth and jobs, jobs and social welfare; reiterates, in this connection, the fact that the EU cannot compete on costs alone, but needs to invest more in research and development, education and skills, andjobs resource efficiency and in tackling social injustice, and child poverty, both at national and European level;
Amendment 104 #
2014/2059(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Reiterates, therefore, the fact that Member States should pay particular attention when devising economic policies and reforms as regards the impact on this and future generations not to deprive young people of their opportunities from the start;
Amendment 107 #
2014/2059(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines the fact that the EMU is far from complete and reminds the Commission of its obligations and commitments to enhance economic convergence and strengthen competitiveness in the EU as well as set up a social investment policy; welcomes, in this respect, the commitment by the next President-elect of the Commission to deliver on the roadmap set out the report of 5 December 2012 entitled ‘'Towards a Genuine Economic and Monetary Union’'; welcomes as well the commitments to enhance European investment by 300 billion Euros. Calls on the next Commission to implement these priorities without delay;
Amendment 127 #
2014/2059(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the Commission to strengthen the European Semester process by, inter alia, making sure that sufficient time and resources are allocated to the design and follow-up to the recommendations, thereby making the recommendations as relevant as possible for EU- and national-level economic policy-making, but taking more into account the national and regional specificities;
Amendment 132 #
2014/2059(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes the 2014 package of country- specific recommendations (CSRs) by the Commission; notes the Commission’'s assessment that some progress has been achieved in sustaining fiscal consolidation and structural reform, particularly in reforming labour markets; Regrets however that the Commission has not taken into account the conclusions of the Troika reports of the European Parliament both in their economic and employment aspects; Urges the Commission to ensure that they will be included in the next Annual Growth Survey;
Amendment 137 #
2014/2059(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Supports the objective of placing emphasis on policies that enhance competitiveness, support job creation, fight unemployment and social exclusion, and improve the functioning of the labour market;
Amendment 163 #
2014/2059(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines the fact that the implementation of a more social balanced CSRs is a precondition for achieving economic convergence in the EMU, which is key to the proper functioning thereof, allowing for financial and economic stability that is conducive to growth and jobs;
Amendment 170 #
2014/2059(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 177 #
2014/2059(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Notes a growing number of CSR addressed to the regional level recognizing subnational competences; is concerned about growing regional disparities within Member States, which poses a real risk to convergence
Amendment 186 #
2014/2059(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Requests that the Commission report on a quarterly basis in Parliament’'s competent committee on the measures taken to ensure progress on the implementation of the CSRs and on the progress achieved thus far; invites Member States to explain the reasons for non- compliance with the CRSs in Parliament’s competent committee;
Amendment 197 #
2014/2059(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that with regard to the forthcoming European Semester, the policy of growth-friendly fiscal consolidation should be pursued to improve fiscal sustainability; stresses, however, the fact that special emphasis should be placed on growth-enhancing reforms and policies, as well as on policies tackling social inequality and exclusion;
Amendment 205 #
2014/2059(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Underlines the need to boost private and public investment at sub-national level by making full use of the new European Structural and Investment Funds programmes, which are closely linked with the Europe 2020 objectives, innovative financial instruments and by enhancing the quality of public spending;
Amendment 212 #
2014/2059(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Encourages Member States to overcome domestic political oppositionensure that the reforms proposed to modernise their economies, social security systems and health care, in order to avoid placing an excessive burden on future generations;, pension system and health care are sustainable and socially balanced
Amendment 219 #
2014/2059(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Believes that structural reforms should particularly be targeted at improving labour markets’' capacity to integrate young people into the workforce; believes, also, that structural reform should be aimed at the mid- and long-term sustainability of social security, health-care and pension systems as well as tackling social exclusion and poverty;
Amendment 245 #
2014/2059(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses, once again, its call on Member States to simplify their tax systems and reiterates its call to shift taxes from labour to consumption and to real estate to make the use of resources more efficient and sustainable; calls on the Commission to take urgent action and develop a comprehensive strategy based on concrete legislative measures to fight tax fraud and tax evasion;
Amendment 257 #
2014/2059(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Reiterates the fact that structural reforms must be complemented by longer- term investment in education, research, innovation and sustainable energy; stresses, however, the fact that private investment is more conducive to growth than public investment;.
Amendment 269 #
2014/2059(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 281 #
2014/2059(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the biggest limitation on the EU economy is the low level of private investment as well as the huge level of youth unemployment, the social exclusion and the high level of poverty in some Member States;
Amendment 298 #
2014/2059(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Calls on the Commission finally to deliver on its commitment to complete the single market, particularly as regards services; urges the Member States to deliver on their commitments on the EU2020 strategy, particularly with regard to research and innovation; as well as with regard to the reduction of the poverty level and the social inequality level in the Member States
Amendment 272 #
2014/0091(COD)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) However, this Directive is aimed at minimum harmonisation and therefore should not preclude Member States from maintaining or introducing more stringent provisions in order to protect members and beneficiaries, provided that such provisions are consistent with Member States' obligations under Union law. This Directive does not concern issues of national social and labour law, fiscal and contract legislation nor the adequacy of pension provisions in Member States.
Amendment 300 #
2014/0091(COD)
Proposal for a directive
Recital 5
Recital 5
(5) This Directive respects the fundamental rights and observes the principles recognised by the Charter of Fundamental Rights of the European Union, notably, the right to protection of personal data, the right to conduct a business and the right to a high level of consumer protection, in particular by ensuring a higher level of transparency of retirement provisioning, informed personal financial and retirement planning as well as facilitating cross-border business of institutions for occupational retirement provision and businesses. This Directive must be implemented in accordance with these rights and principles. Member States should take into account the need for enhancing the protection of pension rights of workers temporarily sent to work in another Member State.
Amendment 340 #
2014/0091(COD)
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are financial service providers which bear a heavypension institutions with a social purpose that provide financial services. They are responsibilityle for the provision of occupational retirement benefits and therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation.
Amendment 424 #
2014/0091(COD)
Proposal for a directive
Recital 51
Recital 51
(51) The competent authority should exercise its powers having as its prime objective the protection of the rights of members and beneficiaries and the stability and soundness of the institutions.
Amendment 550 #
2014/0091(COD)
Proposal for a directive
Article 23 – paragraph 1 – introductory part
Article 23 – paragraph 1 – introductory part
1. Member States shall require institutions to ensure that all persons who effectively run the institution or have other key functions, persons who have key functions and where applicable persons or entities employed to carry out key functions in accordance with Article 33, fulfil the following requirements when carrying out their tasks:
Amendment 553 #
2014/0091(COD)
Proposal for a directive
Article 23 – paragraph 1 – point a
Article 23 – paragraph 1 – point a
(a) their professional qualifications, knowledge and experience are adequate to enable them to ensure a sound and prudent management of the institution and to properly carry out their key funccollectively adequate in relation to the activities performed for the institutions, (requirement to be fit); and
Amendment 709 #
2014/0091(COD)
Proposal for a directive
Article 57 – paragraph 1
Article 57 – paragraph 1
1. IMember States shall ensure that institutions shperiodically provide beneficiaries with information about major material changes about the benefits due and the corresponding payment options.
Amendment 712 #
2014/0091(COD)
Proposal for a directive
Article 57 – paragraph 2
Article 57 – paragraph 2
2. When a significant level of investment risk is borne by beneficiaries in the pay-out phase, Member States shall ensure that beneficiaries receive appropriate information regularly.
Amendment 156 #
2014/0020(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) If, when assessing the trading activities, the competent authority concludes that they exceed certain metrics in terms of relative size, leverage, complexity, profitability, associated market risk, as well as interconnectedness, and further deems that there is a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system, taking into account the objectives of this Regulation, it should require their separation from the core credit institution unless the core credit institution can demonstrate to the satisfaction of the competent authority that those trading activities do not pose a threat to the financial stability of the core credit institution or to the Union financial system as a whole, taking into account the objectives set out in this Regulation.'
Amendment 212 #
2014/0020(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point b a (new)
Article 1 – paragraph 1 – point b a (new)
(b a) the management and structuring of certain trading activities when they are deemed to pose a risk to the institution or to the safeguarding of depositors, thereby building up systemic risk.
Amendment 221 #
2014/0020(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point e
Article 1 – paragraph 1 – point e
(e) to reduce interconnectedness within the financial sector leading to systemic risk by safeguarding depositors, addressing risks and improving resilience;
Amendment 228 #
2014/0020(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point g a (new)
Article 1 – paragraph 1 – point g a (new)
(g a) preserve financial stability by assuring the continuity of core services such as taking deposits.
Amendment 258 #
2014/0020(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b a (new)
Article 3 – paragraph 1 – point b a (new)
(b a) any credit institution directly supervised under the Single Supervisory Mechanism in accordance with Council Regulation 1024/2013.
Amendment 261 #
2014/0020(COD)
Proposal for a regulation
Article 3 – paragraph 1 –subparagraph 1 a (new)
Article 3 – paragraph 1 –subparagraph 1 a (new)
with the exception of credit institutions or EU parents listed under points (a) and (b) of the first subparagraph that hold less than EUR [25] billion of deposits from retail depositors and SMEs eligible under the Deposit Guarantee Scheme in accordance with Directive 2014/49/EC;
Amendment 269 #
2014/0020(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
In addition to point (b) of paragraph 1, a competent authority may exempt from the requirements of Chapter III: (a) subsidiaries and branches of EU parents established in third countries if that competent authority is satisfied that: (i) there is a resolution strategy agreed upon between the group level resolution authority in the Union and the third country host authority; (ii) the resolution strategy for the subsidiary or branch of an EU parent established in a third country has no adverse effect on the financial stability of the Member State(s) where the EU parent and other group entities are established.
Amendment 277 #
2014/0020(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4
Article 5 – paragraph 1 – point 4
4. ‘proprietary trading’ means using own capital or borrowed money to take positions , in reaction to and with the motivation of exploiting actual or expected movements in market valuations, in any type of transaction to purchase, sell or otherwise acquire or dispose of any financial instrument or commodities for the sole purpose of making a profit for own account, and without any connection to actual or anticipated client activity or for the purpose of hedging the entity’'s risk as a result of actual or anticipated client activity, through the use of desks, units, divisions or individual traders specifically dedicated to such position taking and profit making, including through dedicated web- based proprietary trading platforms. This definition includes any such transaction undertaken with the aim of making profit, irrespective of whether such profit would be realised in the short term or in the longer term, or is in fact realised;
Amendment 307 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b – introductory part
Article 6 – paragraph 1 – point b – introductory part
(b) with its own capital or borrowed money and for the sole purpose of making a profit for own account:
Amendment 337 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
Amendment 417 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point a a (new)
Article 9 – paragraph 1 – point a a (new)
(a a) Paragraph 1(a) shall not apply to a core credit institution which does not engage in the regulated activity of dealing in investments as principal and holding trading assets, with the exceptions of risk mitigating activities for the purpose of prudently managing its capital, liquidity and funding and of providing limited risk management services to customers.
Amendment 419 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point b a (new)
Article 9 – paragraph 1 – point b a (new)
(b a) An assessment under paragraph 1(b) shall not affect any core credit institution within the group which is legally separated from group entities that engage in the regulated activity of dealing in investments as a principal or hold trading assets and which: - is able to make decisions independently of other group entities; - has a management body that is independent of other group entities; - is subject to capital and liquidity requirements in its own right; and - may not enter into contracts or transactions with other group entities other than on terms similar to those referred to in Article 13(7). Where all core credit institutions within the group meet those conditions, paragraph 1(b) shall not apply.
Amendment 493 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Where the competent authority concludes that, following the assessment referred to in Article 9(1), the limits and conditions linked to the metrics referred to in points (a) to (h) of Article 9(2) and specified in the delegated act referred to in paragraph 5 are met, and it therefore deems that there is a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system as a whole, taking into account the objectives referred to in Article 1, it shall, no later than two months after the finalisation of that assessment, start the procedure leading to a decision as referred to in the second subparagraph of paragraph 3.
Amendment 510 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the limits and conditions referred to in paragraph 1 are not met, the competent authority may still start the procedure leading to a decision as referred to in the third subparagraph of paragraph 3 where it concludes, following the assessment referred to in Article 9(1), that any trading activity, with the exception of trading in derivatives other than those permitted under Article 11 and 12, carried out by the core credit institution, poses a threat to the financial stability of the core credit institution or to the whole or to part of the Union financial system as a whole taking into account the objectives referred to in Article 1.'
Amendment 520 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Article 10 – paragraph 3 – subparagraph 2
Unless the core credit institution demonstrates, within the time limit referred to in the first subparagraph, to the satisfaction of the competent authority, that the reasons leading to the conclusions are not justifiedlevant trading activities do not pose a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system, the competent authority shall adopt a decision addressing the core credit institution and requiring it not to carry out the trading activities specified in those conclusions. The competent authority shall state the reasons for its decision and publicly disclose it.
Amendment 558 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 5 – point b – introductory part
Article 10 – paragraph 5 – point b – introductory part
(b) specify which type of securitisation is not considered to pose a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system as a whole with regard to each of the following aspects:
Amendment 618 #
2014/0020(COD)
Proposal for a regulation
Article 13 – paragraph 5 – subparagraph 2
Article 13 – paragraph 5 – subparagraph 2
Amendment 634 #
2014/0020(COD)
Proposal for a regulation
Article 13 – paragraph 8
Article 13 – paragraph 8
8. A majority of the members of the management body of the core credit institution and of the trading entity respectively shall consist of persons who are not members of the management body of the other entity. No member of the management body of either entity shall perform an executive function in both entities with the exception for the risk management officer of the parent undertaking.
Amendment 697 #
Amendment 704 #
Amendment 706 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – introductory part
Article 21 – paragraph 1 – introductory part
1. At the request of a Member State, the Commission may grant a derogation from the requirements of this Chapter to a credit institution taking deposits from individuals and SMEs that areis subject to national primary legislation adopted before 29 January 2014 when the national legislation complies withrequiring structural separation of deposits and adopted before 29 January 2014 shall be deemed compliant with the requirements in this Chapter as regards to the requirement not to carry out trading activities or certain trading activities when the institution meets the following requirements:
Amendment 708 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point a
Article 21 – paragraph 1 – point a
Amendment 711 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point b
Article 21 – paragraph 1 – point b
Amendment 715 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point c
Article 21 – paragraph 1 – point c
Amendment 718 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
Amendment 722 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 2
Article 21 – paragraph 2 – subparagraph 2
Amendment 726 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 3
Article 21 – paragraph 2 – subparagraph 3
Amendment 731 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 4
Article 21 – paragraph 2 – subparagraph 4
Amendment 735 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 5
Article 21 – paragraph 2 – subparagraph 5
Amendment 739 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 6
Article 21 – paragraph 2 – subparagraph 6
Amendment 743 #
2014/0020(COD)
Proposal for a regulation
Article 21 a (new)
Article 21 a (new)
Amendment 182 #
2013/0306(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) In order to be able to absorb day-to- day fluctuations in the value of a EU public debt CNAV MMF's assets and allow it to offer a constant NAV per unit or share, the CNAV MMF should have at all times a NAV buffer amounting to at least 3% of its assets. The NAV buffer should serve as an absorbing mechanism for maintaining the constant NAV. All differences between the constant NAV per unit or share and the NAV per unit or share should be neutralized by using the NAV buffer. During stressed market situations, when the differences can rapidly increase, a procedure should ensure that the whole chain of management is involved. This escalation procedure should permit the senior management to take rapid remedy actionsEU public debt CNAV MMF should establish and maintain a capital buffer of up to 3%, to be built up by 2020, which should be calculated in accordance with the risk weightings assigned to the assets classes the MMF has invested in.
Amendment 191 #
2013/0306(COD)
Proposal for a regulation
Recital 46
Recital 46
(46) As an EU public debt CNAV MMF that does not maintain the NAV buffer at the required level is not capable of sustaining a constant NAV per unit or share, it should be required to fluctuate the NAV and cease to be an EU public debt CNAV MMF. Therefore, where despite the use of the escalation procedure the amount of the NAV buffer remains for one month below the required 3% by 10 basis points, the EU public debt CNAV MMF should automatically convert into a MMF that is not allowed to use amortised cost accounting or rounding to the nearest percentage point. If before the end of the one month allowed for the replenishment a competent authority has justifiable reasons demonstrating the incapacity of the EU public debt CNAV MMF to replenish the buffer, it should have the power to convert the EU public debt CNAV MMF into a MMF other than an EU public debt CNAV MMF. The NAV buffer is the only vehicle through which external support to an EU public debt CNAV MMF can be provided.
Amendment 208 #
2013/0306(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) Investors should be clearly informed, before they invest in a MMF, if the MMF is of a short-term nature or of a standard nature and if the MMF is of a CNAV type or not. In order to avoid misplaced expectations from the investor it must also be clearly stated in any marketing document that MMFs are not a guaranteed investment vehicle. EU public debt CNAV MMFs should clearly explain to investors the buffer mechanism they are applying to maintain the constant NAV per unit or share.
Amendment 243 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 12 a (new)
Article 2 – paragraph 1 – point 12 a (new)
Amendment 254 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 22 a (new)
Article 2 – paragraph 1 – point 22 a (new)
(22a) "EU public debt CNAV MMF" means a CNAV MMF which, by 2020, invests at least 60% of its assets in EU public debt instruments as defined in point (22c). EU public debt CNAV MMF should build up this investment in public debt gradually. The European Commission shall make a progress report after 3 years.
Amendment 380 #
2013/0306(COD)
Proposal for a regulation
Article 14 – paragraph 5 – introductory part
Article 14 – paragraph 5 – introductory part
5. Notwithstanding the individual limits laid down in paragraphs 1 and 3, a MMF shall not combine, where this would lead to investment of more than 108% of its assets in a single body, any of the following:
Amendment 394 #
2013/0306(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. A MMF may not hold more than 108% of the money market instruments issued by a single body.
Amendment 506 #
2013/0306(COD)
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. In addition, in the case of CNAV MMFs, the stress tests shall estimate for different scenarios the difference between the constant NAV per unit or share and the NAV per unit or share, including the impact of the difference on the NAV buffer for EU public debt CNAV MMFs.
Amendment 572 #
2013/0306(COD)
Proposal for a regulation
Article 29 – paragraph 2 – introductory part
Article 29 – paragraph 2 – introductory part
2. An EU public debt CNAV MMF shall satisfy all the following additional requirements:
Amendment 582 #
2013/0306(COD)
Proposal for a regulation
Article 29 – paragraph 2 – point b
Article 29 – paragraph 2 – point b
(b) the competent authority of the EU public debt CNAV MMF is satisfied with a detailed plan by the EU public debt CNAV MMF specifying the modalities of the use of the buffer in accordance with Article 31;
Amendment 587 #
2013/0306(COD)
Proposal for a regulation
Article 29 – paragraph 2 – point c
Article 29 – paragraph 2 – point c
(c) the competent authority of the EU public debt CNAV MMF is satisfied with the EU public debt CNAV MMF's arrangements to replenish the buffer and with the financial strength of the entity expected to fund the replenishment;
Amendment 594 #
2013/0306(COD)
Proposal for a regulation
Article 29 – paragraph 2 – point f
Article 29 – paragraph 2 – point f
(f) the EU public debt CNAV MMF has established clear and effective communication tools towards investors that ensure prompt information in relation to any use or replenishment of the NAV buffer and the conversion of the EU public debt CNAV MMF;
Amendment 600 #
2013/0306(COD)
Proposal for a regulation
Article 29 – paragraph 2 – point g
Article 29 – paragraph 2 – point g
(g) the rules or instruments of incorporation of the EU public debt CNAV MMF state clearly that the EU public debt CNAV MMF cannot receive external support other than through the NAV buffer.
Amendment 614 #
Amendment 616 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 1
Article 30 – paragraph 1 – subparagraph 1
Amendment 621 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 2
Article 30 – paragraph 1 – subparagraph 2
The NAV buffer shall be used exclusively to cover differences between the EU public debt CNAV MMF's constant NAV per unit or share and the EU public debt CNAV MMF's NAV per unit or share as laid down in Article 31.
Amendment 623 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
2. The amounts in the NAV buffer shall not be included in the calculation of the NAV or constant NAV of the EU public debt CNAV MMF.
Amendment 629 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 5
Article 30 – paragraph 5
5. The reserve account shall be used solely for the benefit of the EU public debt CNAV MMF. A transfer of funds from the reserve account shall only be made under the conditions laid down in Article 31(2)(b) and Article 31(3)(a).
Amendment 631 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 6
Article 30 – paragraph 6
6. The depositary of the EU public debt CNAV MMF shall verify that any transfer from the reserve account is in accordance with the provisions of this Chapter.
Amendment 632 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 7 – subparagraph 1
Article 30 – paragraph 7 – subparagraph 1
The EU public debt CNAV MMF shall establish in writing clear and detailed arrangements with the entity expected to fund the replenishment of the NAV buffer. The arrangements shall contain an explicit commitment to fund the replenishment and require the entity to fund the replenishment using its own financial resources.
Amendment 633 #
2013/0306(COD)
Proposal for a regulation
Article 30 – paragraph 7 – subparagraph 2
Article 30 – paragraph 7 – subparagraph 2
The arrangements for the replenishment and the identity of the entity expected to fund the replenishment shall be disclosed in the fund rules or instruments of incorporation of the EU public debt CNAV MMF.
Amendment 647 #
2013/0306(COD)
Proposal for a regulation
Article 32 – paragraph 1
Article 32 – paragraph 1
1. An EU public debt CNAV MMF shall establish and implement an escalation procedure that ensures that the negative difference between the constant NAV per unit or share and the NAV per unit or share is considered by persons competent to act for the fund in a timely manner.
Amendment 649 #
2013/0306(COD)
Proposal for a regulation
Article 32 – paragraph 2 – point a
Article 32 – paragraph 2 – point a
(a) where the negative difference reaches 10 basis points or its equivalent when the NAV is published in a currency unit, the senior management of the manager of the EU public debt CNAV MMF be informed;
Amendment 650 #
2013/0306(COD)
Proposal for a regulation
Article 32 – paragraph 2 – point b
Article 32 – paragraph 2 – point b
(b) where the negative difference reaches 15 basis points or its equivalent when the NAV is published in a currency unit, the board of directors of the manager of the EU public debt CNAV MMF, the competent authorities of the EU public debt CNAV MMF and ESMA be informed; ;
Amendment 660 #
2013/0306(COD)
Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 1
Article 33 – paragraph 2 – subparagraph 1
When the NAV buffer has not been replenished and for one month the amount of the NAV buffer stays below the 3% referred to in Article 30(1) by 10 basis points the MMF shall automatically cease to be an EU public debt CNAV MMF and be prohibited from using the amortised cost or rounding methods.
Amendment 661 #
2013/0306(COD)
Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 2
Article 33 – paragraph 2 – subparagraph 2
The EU public debt CNAV MMF shall inform immediately each investor thereof in writing and in a clear and comprehensible way.
Amendment 670 #
2013/0306(COD)
Proposal for a regulation
Article 34 – paragraph 1
Article 34 – paragraph 1
1. The competent authority of the EU public debt CNAV MMF shall be immediately notified of any decrease below 3% in the amount of the NAV buffer.
Amendment 673 #
2013/0306(COD)
Proposal for a regulation
Article 34 – paragraph 2
Article 34 – paragraph 2
2. The competent authority of the EU public debt CNAV MMF and ESMA shall be immediately notified when the amount of the NAV buffer decreases by 10 basis points below the 3% referred to in Article 30(1).
Amendment 675 #
2013/0306(COD)
Proposal for a regulation
Article 34 – paragraph 3
Article 34 – paragraph 3
3. Following the notification referred to in paragraph 1, the competent authority shall closely monitor the EU public debt CNAV MMF.
Amendment 676 #
2013/0306(COD)
Proposal for a regulation
Article 34 – paragraph 4
Article 34 – paragraph 4
4. Following the notification in paragraph 2, the competent authority shall control that the NAV buffer has been replenished or the MMF has ceased to hold itself as an EU public debt CNAV MMF and informed accordingly its investors.
Amendment 700 #
2013/0306(COD)
Proposal for a regulation
Article 35 – paragraph 3 a (new)
Article 35 – paragraph 3 a (new)
3a. MMFs other than EU public debt CNAV MMFs shall not be allowed to receive external support, except under the conditions laid down in Article 36.
Amendment 725 #
2013/0306(COD)
Proposal for a regulation
Article 37 – paragraph 5
Article 37 – paragraph 5
5. In addition to the information to be provided in accordance with paragraphs 1 to 4, a CNAV MMF shall explain clearly to investors and potential investors the use of the amortised cost method and/or of rounding. An EU public debt CNAV MMF shall indicate the amount of its NAV buffer, the procedure to equalise the constant NAV per unit or share and the NAV per unit or share and shall state clearly the role of the buffer and the risks related to it. The EU public debt CNAV MMF shall clearly indicate the modalities of replenishing the NAV buffer and the entity expected to fund the replenishment. It shall make available to investors all information concerning compliance with the conditions set out in Article 29(2)(a) to (g).
Amendment 777 #
2013/0306(COD)
Proposal for a regulation
Article 43 – paragraph 3 – point a
Article 43 – paragraph 3 – point a
(a) (a) up to 1% of the total value of the CNAV MMF's assets, within one year from the entry into force of this Regulation; proportion of assets not invested in EU public debt, , within one year from the date of application of the regulatory technical standards defining the risk weightings referred to in Article 30(1);
Amendment 779 #
2013/0306(COD)
Proposal for a regulation
Article 43 – paragraph 3 – point b
Article 43 – paragraph 3 – point b
(b) up to 2% of the total value of the CNAV MMF's assets, within two years from the entry into force of this Regulationproportion of assets not invested in EU public debt, within two years from the date of application of the regulatory technical standards defining the risk weightings referred to in Article 30(1);
Amendment 781 #
2013/0306(COD)
Proposal for a regulation
Article 43 – paragraph 3 – point c
Article 43 – paragraph 3 – point c
(c) up to 3% of the total value of the CNAV MMF's assets, within three years from the date of entry into force of this Regulationproportion of assets not invested in EU public debt, within three years from the date of application of the regulatory technical standards defining the risk weightings referred to in Article 30(1).
Amendment 7 #
2008/2237(INI)
Motion for a resolution
Recital D
Recital D
D. whereas, despite their differences, Europe’s SMEs face many of the same challenges in realileasing their full potential, in areas such as relatively higher administration and compliance costs than larger enterprises, access to finance and markets, innovation and the environment, that
Amendment 9 #
2008/2237(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas, as a key contribution to achieving an SME-friendly environment, the perception of the role of entrepreneurs and risk-taking has to change: entrepreneurship and the associated willingness to take risk should be applauded by political leaders and the media, and supported by administrations,
Amendment 120 #
2008/2237(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes that public procurement covers around 16% of EU GDP; calls on the Commission and Member States to strengthen SME access to and participation in public procurement through inter aliaby using the opportunities presented in the best practices code presented by the Commission in the framework of the Small Business Act, i.e. by making more use of e-procurement;
Amendment 153 #
2008/2237(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Points out that the Commission’s existing consultation period of 8 weeks should be extended to at least 12 weeks and that the consultation documents should be available in all languages; calls on the Commission and SMErecognises the essential and valuable role of representative business organisations, to involve SMEs actively and directlyherefore, calls on the Commission wherever relevant, to integrate systematically also representative SME- organisations, into the consultation procesir advisory expert committees and high level groups;
Amendment 160 #
2008/2237(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses the need for the introduction of common commencement dates for new legislation affecting business at EU leveland national level which should be decided in collaboration with the representative SME-organisations;
Amendment 8 #
2008/2124(INI)
Motion for a resolution
Recital Q a (new)
Recital Q a (new)
Qa. whereas notarial acts are not a familiar feature of common-law jurisdictions and accordingly the recognition of notarial acts by common- law jurisdictions would not involve the reciprocal recognition by civil law jurisdictions of deeds or other instruments having like effect to notarial acts; whereas the law relating to the administration of the estates of deceased persons in common-law jurisdictions requires that the assets of such persons vest in personal representatives whose status as such is confirmed by order of the court and whereas it is accordingly essential that the recognition of notarial acts should not operate so as to effect a direct transmission of property rights in any of the assets comprised in the estate of a deceased person or otherwise prejudice the integrity of the procedures adopted in common-law jurisdictions for the administration of such estates,
Amendment 13 #
2008/2124(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Asks that this Regulation apply to all authentic acts on civil and commercial matters except those that relate to property and should or may be subject to entry or mention in a public register, provided that nothing in this Regulation shall permit the recognition of notarial acts by common-law jurisdictions to operate so as to effect a direct transmission of property rights in any of the assets comprised in the estates of deceased persons or otherwise prejudice the integrity of the procedures adopted in such jurisdictions relating to the administration of such estates;
Amendment 14 #
2008/2124(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Specifies that this Regulation should not apply in common-law or Nordic jurisdictions to the extent that to do so would interfere with the operation of the national law on the granting of probate or the administration of estates;
Amendment 22 #
2008/0221(COD)
Proposal for a directive
Title
Title
Proposal for a DirectiveRegulation of the European Parliament and of the Council on labelling of tyres with respect to fuel efficiency and other essential parameters (This amendment applies throughout the text. Adopting it will necessitate corresponding changes throughout.)
Amendment 44 #
2008/0221(COD)
Proposal for a directive
Article 1 – second paragraph
Article 1 – second paragraph
This Directive establishes a framework for the provision of harmonised information on tyre parameters through labelling.
Amendment 72 #
2008/0221(COD)
Proposal for a directive
Article 4 – point 1
Article 4 – point 1
(1) suppliers shall ensure that C1, C2 and C23 tyres, which are delivered to distributors or end-users, are equipped with a sticker on the tyre tread displaying a labeln adhesive information label on the tyre tread indicating the fuel efficiency class as set out in Annex I, Part A and the external rolling noise measured value as set out in Annex I, Part C; C1 tyre labels shall also indicate the wet grip class as set out in Annex I, Part B;
Amendment 74 #
2008/0221(COD)
Proposal for a directive
Article 4 – point 2
Article 4 – point 2
(2) the format of the stickeradhesive information label referred to in paragraphoint 1 shall be as prescribed in Annex II;
Amendment 83 #
2008/0221(COD)
Proposal for a directive
Article 5 – introductory part
Article 5 – introductory part
Member States shall ensure that tyre distributors comply, in relation to tyres produced after the date of implementation of this Directive, with the following provisions:
Amendment 92 #
2008/0221(COD)
Proposal for a directive
Article 5 – point 1
Article 5 – point 1
(1) distributors shall ensure that tyres, at the point of sale, bear the stickeradhesive information label provided by suppliers in accordance with Article 4(1), point 1 in a clearly visible position;
Amendment 93 #
2008/0221(COD)
Proposal for a directive
Article 5 – point 2
Article 5 – point 2
(2) where tyres offered for sale are not visible to the end-user, distributors shall provide end-user with information on the fuel efficiency class, measured rolling resistance coefficient, wet grip class and external rolling noise measured value of those tyres;
Amendment 100 #
2008/0221(COD)
Proposal for a directive
Article 5 – point 3
Article 5 – point 3
(3) for C1, C2 and C23 tyres, distributors shall provide the fuel efficiency class and external rolling noise measured value with the bills delivered to end-users when they purchase tyres. For C1 tyres, the wet grip class shall also be provided.
Amendment 102 #
2008/0221(COD)
Proposal for a directive
Article 6
Article 6
Amendment 111 #
2008/0221(COD)
Proposal for a directive
Article 8
Article 8
Amendment 120 #
2008/0221(COD)
Proposal for a directive
Article 10
Article 10
Amendment 127 #
2008/0221(COD)
Proposal for a directive
Article 15 – paragraph 1 – second subparagraph
Article 15 – paragraph 1 – second subparagraph
They shall apply those provisions from 1 November 2012 to progressively achieve the full application to the internal market no later than 1 November 2014. Suppliers of tyres within the scope of this Directive shall ensure that the provisions set out in Article 4 are applied, according to the following schedule: (a) from 1 November 2012: all new tyre types subject to EC-type-approval; (b) from 1 November 2013: all new tyres intended to be fitted on new types of vehicles; (c) from 1 November 2014: all new tyres manufactured as from that date.
Amendment 13 #
2008/0157(COD)
Proposal for a directive – amending act
Recital 7
Recital 7
Amendment 49 #
2008/0157(COD)
Proposal for a directive – amending act
Recital 17 a (new)
Recital 17 a (new)
(17a) Among the accompanying transitional measures is also the mandatory collective exercise of the rights of performers and phonogram producers concerning on-demand services by broadcasters of their radio or television productions of which music from lawfully published phonograms is an integral part. This system of collective rights management complements the remuneration regime for the broadcasting of lawfully published phonograms under Article 8(2) of Directive 2006/115/EC and guarantees that, throughout the full term of protection of lawfully published phonograms, the relevant performers and phonogram producers receive a fair share of the remuneration also for the on- demand use of broadcast productions.
Amendment 53 #
2008/0157(COD)
Proposal for a directive – amending act
Article 1 – point 1
Article 1 – point 1
Directive 2006/116/EC
Article 3 – paragraph 1 – sentence 2
Article 3 – paragraph 1 – sentence 2
Amendment 61 #
2008/0157(COD)
Proposal for a directive – amending act
Article -1 – point 2
Article -1 – point 2
Directive 2006/116/EC
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 68 #
2008/0157(COD)
Proposal for a directive – amending act
Article 1 – point 3
Article 1 – point 3
Directive 2006/116/EC
Article 10 – paragraph 5
Article 10 – paragraph 5
Amendment 86 #
2008/0157(COD)
Proposal for a directive – amending act
Article 1 – point 4
Article 1 – point 4
Directive 2006/116/EC
Article 10a – paragraph 5 a (new)
Article 10a – paragraph 5 a (new)
5a. With respect to the administration of rights concerning the on-demand services by broadcasters of their radio or television productions incorporating music from lawfully published phonograms, Member States shall ensure that the rights of performers and phonogram producers to grant or refuse authorization for such use may be exercised only through the collecting society which has been established for collecting and distributing the remuneration for broadcasting such phonograms.
Amendment 100 #
2008/0157(COD)
Proposal for a directive – amending act
Article 1 – point 4
Article 1 – point 4
Directive 2006/116/EC
Article 10a – paragraph 6 – subparagraph 2
Article 10a – paragraph 6 – subparagraph 2
If, onfive years after the moment at which, by virtue of Article 3 (1) and (2) in their version before amendment by Directive [// insert: Nr. of this amending directive]/EC, the performer and the phonogram producer would be no longer protected in regard of, respectively, the fixation of the performance and the phonogram, the phonogram is not made available to the public, by wire or wireless means, in such a way that members of the public may access them from a place and at a time individually chosen by them, the rights of the phonogram producer in the phonogram and the rights of the performers in relation to the fixation of their performance shall expire.
Amendment 5 #
2007/2261(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. ConsiderAsks that, in view of the unique characteristics of sport, the Commission should consider, after consulting the various interests concerned and Parliament, the adoption of interpretative guidelines designed to clarify the whole question of the relationship between Community law and "sporting rules" that do not fall within the remit of that law and the area to which that law applies, in particular the demarcation between those aspects of the organisation of sport which are subject to that law and those rules which are not, having regard also to the principles of subsidiarity and proportionality, and bearing in mind that sporting rules concerning questions of purely sporting interest and having as such nothing to do with economic activity do not fall within the scope of the Treaty; points out that such rules, which relate to the particular nature and context of sporting events, are inherent in the organisation and proper conduct of sporting competition and cannot be regarded as constituting a restriction on the Community rules on free movement of workers and freedom to provide services;
Amendment 12 #
2007/2261(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Notes that recognition of players' agents' professional qualifications is covered by Directive 2005/36/EC1 where the profession is subject to national rules; 1 OJ L 255, 30.9.2005, p. 22.
Amendment 13 #
2007/2261(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Considers that illicit practices on the part of some players' agents (corruption, money laundering, trafficking in under- age players) could warrant adoption of a legislative act laying down minimum professional requirements for players' agents (knowledge of specific subjects, respectability, no conflict of interests, e.g. as a result of dual representation, etc.);
Amendment 14 #
2007/2261(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Strongly supports the UEFA club licensing system and calls for the Europe- wide adoption of such best practices;
Amendment 15 #
2007/2261(INI)
Draft opinion
Paragraph 3 d (new)
Paragraph 3 d (new)
Amendment 5 #
2007/2253(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls for an even-h balandced approach to interpretation of the digital dividend, in whichthe allocation of spectrum to ensure equitable access for smaller and larger players, thereby safeguards foring media pluralism are a priority concern;
Amendment 7 #
2007/2253(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Is concerned by the dominance of a few large online players, which restricts new market entrants and thereby stifles creativity and entrepreneurship in this sector;
Amendment 8 #
2007/2253(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Refers to the dominant position of Google in the targeted online advertising market, which endangers media pluralism since Google can use opaque price setting mechanisms for publishers who are dependent on its advertising;
Amendment 9 #
2007/2253(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Doubts whether commercial incentives are enough to ensure that Internet search engines will produce an objective search resultIs concerned about the merger of Google and Double Click, which may result in a gatekeeper for targeted online advertising services based on the personal data of internet users; considers that effective monitoring is essential to avoid misuse of a dominant position; calls on the Commission to propose a model in this connectionrespect;
Amendment 10 #
2007/2253(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls for greater transparency with respect to personal data and information kept on users by Internet search engines, email providers and social networking sites;
Amendment 11 #
2007/2253(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Welcomes the growth of online blogging as a means for increasing the variety of e-content; is concerned however that there is a real danger that blogging might be used to pursue personal agendas, propaganda, or as a means for commercial marketing; calls on the Commission therefore to explore means of ensuring greater information about sponsors and affiliates within blogs;
Amendment 14 #
2007/2253(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Is concerned that public broadcasters in some Member States are restricting new programming in traditional areas in favour of digital/online programming which is not accessible to all citizens, especially those without digital/online facilities; is concerned furthermore that this may have detrimental consequences for many SMEs which are content creators; calls on the Commission to monitor this activity and stresses the need to ensure both vertical and horizontal plurality in all forms of media;
Amendment 4 #
2007/0207(CNS)
Proposal for a decision
Recital 2
Recital 2
(2) Article 11(b) of the Agreement provides as follows: ‘This Agreement shall be concluded for an initial period of five years and may be renewed by mutual agreement between the Parties after evaluation during the last year of each successive period.’. In addition, a mid- term evaluation should be carried out halfway through the period.
Amendment 5 #
2007/0207(CNS)
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
Amendment 6 #
2007/0207(CNS)
Proposal for a decision
Recital 3b (new)
Recital 3b (new)
(3b) In the implementation of the Agreement, a joint effort should be made to increase the participation of the Community and India in each other’s research programmes and boost the number of exchanges of researchers between the Community and India.
Amendment 10 #
2007/0207(CNS)
Proposal for a decision
Recital 5
Recital 5
(5) The Agreement aimed at renewing the Agreement for scientific and technological cooperation between the European Community and the Government of the Republic of India should be approved on behalf of the Community as it is a key element in achieving the ambitions of the EU-India Strategic Partnership signed in 2004 and in pursuing broader political goals.
Amendment 30 #
2007/0022(COD)
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) The Annexes to this Directive contain provisions which should be subject to measures which relate to criminal law, in order to ensure that the rules on environmental protection are fully effective.
Amendment 32 #
2007/0022(COD)
Proposal for a directive
Recital 6 b (new)
Recital 6 b (new)
(6b) The obligations imposed by this Directive relate only to the provisions of the legislation listed in the Annexes to this Directive which entail an obligation for Member States, when implementing that legislation, to provide for prohibitive measures.
Amendment 48 #
2007/0022(COD)
Proposal for a directive
Article 2 – point b a (new)
Article 2 – point b a (new)
(ba) “habitat within a protected site” means any habitat of species for which an area is classified as a special protection area pursuant to Article 4(1) or (2) of Directive 79/409/EEC or any natural habitat or a habitat of species for which a site is designated as a special area of conservation pursuant to Article 4(4) of Directive 92/43/EEC.
Amendment 62 #
2007/0022(COD)
Proposal for a directive
Article 3 – point h
Article 3 – point h
(h) the unlawfulany conduct which causes the significant deterioration of a habitat within a protected habitatsite;