Activities of Ashley FOX related to 2009/0143(COD)
Shadow opinions (1)
OPINION Proposal for a Regulation of the European Parliament and of the Council establishing a European Insurance and Occupational Pensions Authority
Amendments (14)
Amendment 114 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commissionuncil, upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority, determining the existence of an emergency situation for the purposes of this rRegulation.
Amendment 116 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the Commission has adopted a decisionexistence of an emergency situation is declared pursuant to paragraph 1, the Authority may adopt individual decisions requiring national supervisory authoritiesdecisions addressed to the competent authorities of all Member States requiring them to take the necessary action in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial institutions and national supervisory authorities satisfy the requirements laid down in that legislation.
Amendment 117 #
Proposal for a regulation
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2a. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, the Authority shall actively facilitate and, where deemed necessary, coordinate any actions undertaken by the relevant national competent authorities.
Amendment 118 #
Proposal for a regulation
Article 10 – paragraph 2 b (new)
Article 10 – paragraph 2 b (new)
2b. The Council shall review the decision referred to in paragraph 1 at appropriate intervals and at least once a month, and shall declare the discontinuation of the emergency situation as soon as appropriate.
Amendment 119 #
Proposal for a regulation
Article 10 – paragraph 3
Article 10 – paragraph 3
Amendment 120 #
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
Amendment 123 #
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
3. If, at the end of the conciliation phase, the national supervisory authorities concerned have failed to reach an agreement, the Authority may take a decision requiring them to take specific action or to refrain from action in order to settle the matter, in order to ensure compliance with CommunityUnion law.
Amendment 124 #
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
Amendment 132 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 1
Article 23 – paragraph 2 – subparagraph 1
2. Where a Member State considers that a decision taken under Article 11 impinges on its fiscal responsibilities, it may notify the Authority and the Commission within one monthtwenty working days after notification of the Authority's decision to the national supervisory authority that the decision will not be implemented by the national supervisory authority.
Amendment 134 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 5
Article 23 – paragraph 2 – subparagraph 5
Where the Authority maintains its decision, the Council, acting by qualified majority as defined in Article 205 16of the Treaty, shall, within two months, decide whether the Authority's decision is maintained or revoked.
Amendment 136 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 6
Article 23 – paragraph 2 – subparagraph 6
Where the Council decides to maintainrevoke the Authority's decision, or where it does not take a decision within two months, the suspension of that decision shall be immediately terminatrevoked.
Amendment 137 #
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 2
Article 23 – paragraph 3 – subparagraph 2
In its notification, the Member State shall justify why and clearly demonstrate how the decision impinges on its fiscal responsibilities. In that case, the decision of the Authority shall be suspended.
Amendment 139 #
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 3
Article 23 – paragraph 3 – subparagraph 3
The Council, acting by qualified majority as defined in Article 20516 of the Treaty on European Union, shall, within ten working days, decide whether the Authority's decision is maintained or revoked.
Amendment 140 #
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 4
Article 23 – paragraph 3 – subparagraph 4
Where the Council does not take a decision within ten working days, the Authority's decision shall be deemed to be maintainrevoked.