15 Amendments of Roberto GUALTIERI related to 2016/0364(COD)
Amendment 51 #
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 58 #
Proposal for a directive
Recital 20 a (new)
Recital 20 a (new)
(20a) Directive2009/138/EC of the European Parliament and the Council (Solvency II), harmonizing the rules that apply to insurance and reinsurance undertakings, had introduced modifications aiming to grant financial stability and equity, in pursuit the fundamental objective of stabilizing the markets. However it should be taken into consideration the presence, in the Member States, of insurance undertakings with listed shares in a regulated market, under the control of the competent supervisory Authorities of the Member States, performing insurance activities according to a low risk business model implying a moderate financial leverage exploitation (not higher than 5 times) a low risk-taking attitude in investments and a high percentage of profits represented by the insurance core business ;therefore, such undertakings result to have a more contained risk profile compared to similar institutions with a broad variety of business models, also with financial content. It has been noted that, in the European union, insurances result to be less exposed to systemic risk, also by virtue of a more conservative investment policy and that the effects of the financial and markets crisis, following 2008, which has driven financial institution’s income statement downwards, has not substantially affected insurance undertakings, generally remaining positive, with relatively stable profit margins. Such stability has been reflected by the last years insurance companies stock market performances of listed shares in regulated markets of the European union, that, compared to financial institutions, although in the context of a general recessive trend of the markets after 2008, have reduced significantly the downward trends in shares value. Non control holdings in such insurance undertakings operating according to a low financial risk business model, can therefore be assimilated to other equity/industrial holdings, and consequently to the specific discipline in matter of deduction of items from Core Tier 1capital, provided for by the supervisory Authorities of the Member States with reference to other industrial undertakings.
Amendment 62 #
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b – introductory part
Article 1 – paragraph 1 – point 1 – point b – introductory part
Directive 2013/36/EU
Article 2 – paragraph 5a and 5b
Article 2 – paragraph 5a and 5b
(b) the following paragraphs 5a and 5b are inserted: 5a is inserted: 5a. The Commission may regularly review whether the list under paragraph5 can be enlarged to other institutions through a delegated act adopted pursuant to Article 148.
Amendment 64 #
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2013/36/EU
Article 2 – paragraph 5a
Article 2 – paragraph 5a
Amendment 86 #
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2013/36/EU
Article 2 – paragraph 5b
Article 2 – paragraph 5b
Amendment 103 #
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 171 #
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 #
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 208 #
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 271 #
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 #
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 281 #
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104a – paragraph 1 – introductory part
Article 104a – paragraph 1 – introductory part
Competent authorities shall impose the additional own funds requirement referred to in Article 104(1)(a) only in those circumstances where, on the basis of the reviews carried out in accordance with Articles 97 and 101, they ascertain any of the following situations for an individual institution:
Amendment 286 #
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104a – paragraph 1 – point b
Article 104a – paragraph 1 – point b
(b) the institution does not meet the requirements set out in Articles 73 and 74 of this Directive or in Article 393 of Regulation (EU) No 575/2013 and the sole application of other administrative measures is unlikelymay not be enough to sufficiently improve the arrangements, processes, mechanisms and strategies within an appropriate timeframe;
Amendment 298 #
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104a – paragraph 2 – subparagraph 2
Article 104a – paragraph 2 – subparagraph 2
For the purposes of the first subparagraph, the capital considered adequate shall cover all material risks or elements of such risks that are not subject to a specific own funds requirement. This may includes risks or elements of risks that are explicitly excluded from the own funds requirements set out in Parts Three, Four, Five and Seven of Regulation (EU) No 575/2013.
Amendment 352 #
Proposal for a directive
Article 1 – paragraph 1 – point 30 a (new)
Article 1 – paragraph 1 – point 30 a (new)
Directive 2013/36/EU
Article 131 – paragraph 5
Article 131 – paragraph 5
(30 a) In Article 131, paragraph 5 is replaced by the following: ‘5. The competent authority or designated authority may require each O- SII, on a consolidated or sub-consolidated or individual basis, as applicable, to maintain: (a) an O-SII buffer of up to 2.5 % of the total risk exposure amount calculated in accordance with, which shall consist of and shall be supplementary to Common Equity Tier 1 capital; in that connection, the criteria for the identification of the O-SII shall be taken into account; combined with (b) an O-SII leverage ratio adjustment which is to be maintained in addition to the leverage ratio pursuant to Article 92(3)1)[d] of Regulation (EU) No 575/2013, taking into account the criteria for the identification of the O-SII. That buffer shall consist of and shall be supplementary to Common Equity Tier 1 capital. and is determined by multiplying the following amounts: (i) the O-SII buffer ratio as referred to in letter (a), which for this purpose shall not exceed 1.85%, and (ii) a factor of 0.35. The own capital required for this purpose shall be determined by multiplying the result of the calculation described in this paragraph with the institution’s total leverage exposure measure in accordance with Article 429(4) of Regulation (EU) No 575/2013.’