17 Amendments of Herbert DORFMANN related to 2010/0251(COD)
Amendment 268 #
Proposal for a regulation
Article 6
Article 6
Amendment 283 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. A natural or legal person who has aThe relevant competent authority shall disclose at the end of each trading day to the public any aggregated net short positions in relation to the issued share capital of a company that has shares admitted to trading on a trading venue shall disclose to the public details of the position whenever the position reaches or falls below a relevant publication threshold referred to in paragraph 2.
Amendment 289 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. A relevant publication threshold is a percentage that equals 0.51 % of the value of the issued share capital of the company concerned and each 0.1,2 % above that.
Amendment 310 #
Proposal for a regulation
Article 8 – paragraph 3 – point b
Article 8 – paragraph 3 – point b
(b) the total value of outstanding issued sovereign debt for each Member State and the Union, the turnover and the average size of positions held by market participants relating to the sovereign debt of that Member State or the Union.
Amendment 311 #
Proposal for a regulation
Article 8 – paragraph 3 – point b a (new)
Article 8 – paragraph 3 – point b a (new)
(ba) the liquidity of each sovereign bond market, assessed by the competent authority.
Amendment 312 #
Proposal for a regulation
Article 8 a (new)
Article 8 a (new)
Article 8a Record keeping For the purposes of Articles 5, 7 and 8, natural and legal persons that hold significant net short positions shall keep for a period of 10 years records of the gross positions which make a significant net short position.
Amendment 344 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) the natural or legal person has entered into an framework agreement to borrow the share or sovereign debt instrument;
Amendment 353 #
Proposal for a regulation
Article 12 – paragraph 1 – point c
Article 12 – paragraph 1 – point c
(c) the natural or legal person has an arrangement with a third party under which that third party has confirmed that the share or sovereign debt instrument has been located and reserved for lending for the natural or legal person sohe has a reasonable expectation that settlement can be effected when it is due.
Amendment 358 #
Proposal for a regulation
Article 12 – paragraph 1 – point c a (new)
Article 12 – paragraph 1 – point c a (new)
(ca) the natural or legal person has bought, or given an instruction to exercise, on the same day, an equivalent amount of issue rights.
Amendment 380 #
Proposal for a regulation
Article 13 – paragraph 1 – introductory part
Article 13 – paragraph 1 – introductory part
1. A trading venue that has shares or sovereign debt admitted to trading shall ensure that it, or tThe central counterpartyies that provides clearing services for the trading venue, hason shares have procedures in place which comply with all of the following requirements:
Amendment 384 #
Proposal for a regulation
Article 13 – paragraph 1 – point a
Article 13 – paragraph 1 – point a
(a) where a natural or legal person who sells shares or sovereign debt instruments on the venue is not able to deliver the shares or sovereign debt instrument for settlement within four trading days after the day on which the trade takes place, or six trading days after the day on which the trade takes place in the case of market making activitiesfor settlement within six trading days after the day on which the settlement is due, then procedures are automatically triggered for the trading venue or central counterparty to buy-in the shares or sovereign debt instrument to ensure delivery for settlement;
Amendment 388 #
Proposal for a regulation
Article 13 – paragraph 1 – point b
Article 13 – paragraph 1 – point b
(b) where the trading venue or central counterparty is not able to buy-in the shares or the sovereign debt instrument for delivery then cash compensation is paid by the trading venue or the central counterparty to the buyer based on the value of the shares or the debt to be delivered at the delivery date plus an amount for any losses incurred by the buyer;
Amendment 391 #
Proposal for a regulation
Article 13 – paragraph 1 – point c
Article 13 – paragraph 1 – point c
(c) the natural or legal person who fails to settle pays an amount to the trading venue or central counterparty to reimburse the trading venue or central counterparty for all amounts paid pursuant to points (a) and (b).
Amendment 395 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
2. A trading venue that has shares or sovereign debt instruments admitted to trading shall ensure that it has procedures in place, or that tThe settlement system that provides settlement services for the shares or sovereign debt instrumentshall hasve procedures in place, which ensure that where a natural or legal person who sells shares or sovereign debt instrument on the venue fails to deliver the shares or sovereign debt instrumentfails to deliver the shares for settlement by the date on which settlement is due, then such natural or legal person is subject to the obligation to make daily payments to the trading venue or settlement system for each day that the failure continues.
Amendment 398 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2
Article 13 – paragraph 2 – subparagraph 2
The daily payments shall be sufficiently high not to allow the seller to make a profit from the settlement failure and to act as a deterrent to natural or legal persons failing to settle.
Amendment 400 #
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
Amendment 497 #
Proposal for a regulation
Article 24 – paragraph 4
Article 24 – paragraph 4
4. Before deciding to impose or renew any measure referred to in paragraph 1, ESA (ESMA) shall consult, where appropriate, with the European Systemic Risk Board and, where appropriate, other relevant authorities.