5 Amendments of Oreste ROSSI related to 2011/0295(COD)
Amendment 14 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) EU ETS operators will be subject to the Market Abuse provisions on emission allowances upon changes in the MiFID Directive, and their presence on the emission allowances market is due to compliance under the EU ETS and binding EU Climate Policy obligations.
Amendment 16 #
Proposal for a regulation
Recital 16
Recital 16
(16) As a consequence of the classification of emission allowances as financial instruments as part of the review of the Markets in Financial Instruments Directive, those instruments will also come within the scope of this Regulation. Bearing in mind the specific nature of those instruments and structural features of the carbon market, it is necessary to ensure that the activity of Member States, the European Commission and other officially designated bodies involving emission allowances is not restricted in the pursuit of the Union’s climate policy. Moreover, the duty to disclose inside information needs to be addressed to the participants in that market in general. Nevertheless, in order to avoid exposing the market to reporting that is not useful and as well as to maintain cost- efficiency of the measure foreseen, it appears necessary to limit the regulatory impact of that duty to only those EU ETS operators,emission allowance market participants that – by virtue of their size and activity – can reasonably be expected to be able to have a significant effect on the price of emission allowances. Where emission allowance market participantEU ETS (Emissions Trading System) operators already comply with equivalent inside information disclosure duties, notably pursuant to Regulation on energy market integrity and transparency (Regulation (EU) No…of the European Parliament and the Council on Wholesale Energy Market Integrity and Transparency), the obligation to disclose inside information concerning emission allowances should not lead to the duplication of mandatory disclosures with substantially the same content.
Amendment 19 #
Proposal for a regulation
Recital 42
Recital 42
(42) The Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty. In particular, delegated acts should be adopted in respect of the conditions for buy-back programmes and stabilisation of financial instruments, the indicators for manipulative behaviour listed in Annex 1, the thresholds for determining the application of the public disclosure obligation to emission allowance market participantEU ETS operators, the conditions for drawing up insider lists and the threshold and conditions relating to managers’ transactions. 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 Council.
Amendment 29 #
Proposal for a regulation
Article 12 – paragraph 2 – subparagraph 2
Article 12 – paragraph 2 – subparagraph 2
The first subparagraph shall not apply to an emission allowance market participant EU ETS operator where the installations or aviation activities that it owns, controls or is responsible for, in the preceding year have had emissions not exceeding a minimum threshold of 3 million tonnes of carbon dioxide equivalent and, where they carry out combustion activities, have had a rated thermal input not exceeding a minimum threshold of 300 MW.
Amendment 46 #
Proposal for a regulation
Article 31 – paragraph 1
Article 31 – paragraph 1
The Commission shall be empowered to adopt delegated acts in accordance with Article 32 concerning the supplementing and amending of the conditions for buy- back programmes and stabilisation of financial instruments, the definitions in this Regulation, the thresholds for determining the application of the public disclosure obligation to EU ETS operators, the conditions for drawing up insider lists, the conditions relating to managers’ transactions and the arrangements for persons who provide information that may lead to the detection of breaches of this Regulation.