7 Amendments of Pascal CANFIN related to 2009/0099(COD)
Amendment 106 #
Proposal for a directive – amending act
Recital 16 a (new)
Recital 16 a (new)
(16a) It is very difficult for supervisors to supervise highly complex re- securitisations efficiently. The Commission should therefore conduct a cost-benefit analysis of financial products which have been considered toxic financial products since the crisis. The Commission should report the results of that analysis to the European Parliament and the Council and make legislative proposals as appropriate.
Amendment 121 #
Proposal for a directive – amending act
Article 1 – point 3
Article 1 – point 3
Directive 2006/48/EC
Article 54
Article 54
Member States shall ensure that, for the purposes of the first paragraph, their respective competent authorities have the power to impose financial and non- financial penalties or measures including higher capital requirements and the possibility to require companies to use net profits for improving capital ratios. Those penalties or measures must be effective, proportionate and dissuasive.
Amendment 129 #
Proposal for a directive – amending act
Article 1 – point 9
Article 1 – point 9
Directive 2006/48/EC
Article 122b – paragraph 2
Article 122b – paragraph 2
2. Paragraph 1 shall not apply until such a time as a definition for highly complex re-securitisations has been adopted in accordance with Article 150(2)(ea). Such a definition shall be reviewed annually by the EBA in order to take into account changes in market participant practices. Subject to the adoption of such a definition in respect of positions in new re- securitisations issued after 31 December 2010. In respect of positions in existing re-securitisations, paragraph 1 shall apply from 31 December 2014 where new underlying exposures are added or substituted after that date.
Amendment 163 #
Proposal for a directive – amending act
Annex I – point 1
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point e a (new)
Annex V – section 11 – point 22 – point e a (new)
(ea) in the case of credit institutions that benefit from exceptional government intervention, no variable remuneration is paid to directors of that institution (variable remuneration shall not be paid to directors of that institution during the five years following the exceptional government intervention and the total remuneration of directors of credit institutions that currently benefit from exceptional government intervention shall not exceed EUR 500 000);
Amendment 166 #
Proposal for a directive – amending act
Annex I – point 1
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point e b (new)
Annex V – section 11 – point 22 – point e b (new)
(eb) guaranteed variable remuneration is prohibited;
Amendment 167 #
Proposal for a directive – amending act
Annex I – point 1
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point f
Annex V – section 11 – point 22 – point f
(f) Ffixed and variable components of total remuneration are appropriately balanced; the fixed component represents a sufficiently high proportion of the total remuneration to allow the operation of a fully flexible bonus policy on variable remuneration component, including the possibility to pay no bonusvariable remuneration component and in any event, the variable remuneration does not exceed 25 % of the total remuneration, including all direct and indirect benefits, including post retirement benefits, of the individual concerned;
Amendment 173 #
Proposal for a directive – amending act
Annex I – point 1
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point h a (new)
Annex V – section 11 – point 22 – point h a (new)
(ha) all the variable remuneration component is deferred over a sufficient period; the length of the deferral period is established in accordance with the business cycle, the nature of the business, its risks and the activities of the member of staff in question; remuneration payable under deferral arrangements vests no faster than on a pro-rata basis; and the deferral period is no less than five years;