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2014/0194(COD) Statistics concerning balance of payments, international trade in services and foreign direct investment

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON GIEGOLD Sven (icon: Verts/ALE Verts/ALE) GÁLL-PELCZ Ildikó (icon: PPE PPE), MOSCA Alessia Maria (icon: S&D S&D), TORVALDS Nils (icon: ALDE ALDE)
Committee Opinion JURI
Lead committee dossier:
Legal Basis:
TFEU 338-p1

Events

2016/06/29
   Final act published in Official Journal
Details

PURPOSE: to amend Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment and align that Regulation with rules in the Treaty on the Functioning of the EU which empower the Commission adopt delegated and/or implementing acts.

LEGISLATIVE ACT: Regulation (EU) 2016/1013 of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment.

CONTENT: European statistics on balance of payments, international trade in services and foreign direct investment (FDI) statistics are of vital importance in ensuring informed economic policymaking and accurate economic forecasting.

The Regulation stresses that it is essential for those responsible for public policy in the Union, researchers and all European citizens, to have access to statistics that are of high quality and comparability.

The main amendments to Regulation (EC) No 184/2005 are as follows:

Quality criteria and reports : the quality criteria set out in Regulation (EC) No 223/2009 shall apply to the data to be transmitted in accordance with this Regulation. Member States shall provide the Commission (Eurostat) with a report on the quality of the data transmitted . In applying the quality criteria referred to the data covered by this Regulation, the modalities, structure and periodicity of the quality reports shall be defined by the Commission by means of implementing acts.

The Commission (Eurostat) shall assess the quality of the data transmitted on the basis of an appropriate analysis of the quality reports, with the assistance of the European Statistical System Committee, and shall publish a report on the quality of European statistics covered by the Regulation. That report shall be submitted to the European Parliament and to the Council for information purposes.

Data Flows: the statistics to be produced shall be grouped for transmission to the Commission (Eurostat) in accordance with the following data flows:

· balance of payments monthly statistics;

· balance of payments quarterly statistics;

· international trade in services;

· FDI flows;

· FDI positions.

The Commission (Eurostat) and Member States, in cooperation with the relevant international partners, shall develop the appropriate methodology for compiling FDI statistics based on the ultimate ownership concept in addition to the immediate counterpart principle and FDI statistics distinguishing greenfield FDI transactions from takeovers.

Pilot studies : by 20 July 2018, the Commission (Eurostat) shall institute pilot studies to be carried out by Member States relating to annual FDI statistics based on the ultimate ownership concept and FDI statistics distinguishing greenfield FDI transactions from takeovers.

By 20 July 2019, the Commission (Eurostat) shall prepare a report on the findings of these studies. That report shall be forwarded to the European Parliament and to the Council and, if appropriate, shall identify the remaining conditions that need to be fulfilled in order to develop the methodology for compiling FDI statistics.

Dissemination: the Commission (Eurostat) shall disseminate the European statistics produced pursuant to the Regulation, with a similar periodicity to that specified in Annex I. Those statistics shall be made available on the Commission (Eurostat) website.

Alignment of Regulation (EC) No 184/2005 with the provisions of the Lisbon Treaty: the Regulation replaces provisions referring to the regulatory procedure with scrutiny by provisions enabling the Commission to adopt delegated acts and/or implementing acts

Thus, the Commission may adopt delegated acts:

· when, as a result of economic or technical changes, the geographical breakdown levels, institutional sector breakdown levels and economic activity breakdown levels set out in Tables 6, 7 and 8 of Annex I to Regulation (EC) No 184/2005 need to be updated, provided that such updates neither affect the reporting burden nor modify the applicable underlying conceptual framework;

· whenever certain requirements of data flows in Annex I to that Regulation need to be eliminated or reduced, provided that such elimination or reduction does not reduce the quality of the statistics produced in accordance with this Regulation.

The power to adopt delegated acts shall be conferred on the Commission for a period of five years from 19 July 2016, which shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period.

In order to ensure uniform conditions for the implementation of Regulation (EC) No 184/2005, implementing powers are conferred on the Commission with a view to harmonising the modalities, structure and periodicity of the quality reports.

Reports on implementation: by 28 February 2018, then every five years, the Commission shall present a report on the implementation of the Regulation.

ENTRY INTO FORCE: 19.7.2016.

Documents
Regulation 2016/1013
OJ L 171 29.06.2016, p. 0144
2016/06/15
   EC - Commission response to text adopted in plenary
Documents
SP(2016)411
2016/06/08
   CSL - Draft final act
Documents
00008/2016/LEX
2016/06/08
   CSL - Final act signed
2016/06/08
   EP - End of procedure in Parliament
2016/05/30
   EP/CSL - Act adopted by Council after Parliament's 1st reading
2016/05/30
   CSL - Council Meeting
2016/05/10
   EP - Results of vote in Parliament
Documents
Results of vote in Parliament
2016/05/10
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 563 votes to 39, with 82 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

Parliament’s position, adopted at first reading under the ordinary legislative procedure, amended the Commission proposal as follows:

Quality of statistics : the amended text stressed that balance of payments, international trade in services and FDI are of vital importance in ensuring informed economic policy-making and accurate economic forecasting. Statistics of high quality and comparability are essential for those responsible for public policy in the Union, researchers and all European citizens.

Strengthening obligations regarding reporting and dissemination : inn order to collect the appropriate information, Member States should use all relevant and appropriate sources, including administrative data sources such as business registers or the EuroGroups Register .

Transparency could also be enhanced by:

taking advantage of recent innovations, such as the global legal entity identifier , taking advantage of the registries of beneficial ownership established in the framework of Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

Data flows : the statistics to be produced shall be grouped for transmission to the Commission (Eurostat) in accordance with the following data flows:

balance of payments monthly statistics; balance of payments quarterly statistics; international trade in services; FDI flows; FDI positions.

The Commission (Eurostat) and Member States, in cooperation with the relevant international partners, shall develop the appropriate methodology for compiling FDI statistics based on the ultimate ownership concept in addition to the immediate counterpart principle and FDI statistics distinguishing greenfield FDI transactions from takeovers , which for a given period, generally, do not lead to an increase in the gross capital formation in the Member States, the appropriate methodology for those domains should be developed and enhanced.

This should be done in collaboration with relevant stakeholders such as the Organisation for Economic Co-operation and Development, the International Monetary Fund and the United Nations Conference on Trade and Development.

By 2 years after the entry into force of this amending Regulation, the Commission (Eurostat) shall institute pilot studies to be carried out by Member States relating to annual FDI statistics based on the ultimate ownership concept and FDI statistics distinguishing greenfield FDI transactions from takeovers.

A report on the findings of the studies shall be prepared by the Commission (Eurostat). It shall be forwarded to the European Parliament and to the Council. No later than 12 months after the date of issuing the report, the Commission shall, where appropriate, and depending in particular on the assessment by the Commission of the result of the pilot studies, make a proposal for amendments to this Regulation.

Quality criteria and reports : the quality criteria set out in Regulation (EC) No 223/2009 shall apply to the data to be transmitted in accordance with the present Regulation. Member States shall provide the Commission (Eurostat) with a report on the quality of the data transmitted . The modalities, structure and periodicity of the quality reports shall be defined by the Commission by means of implementing acts .

Dissemination : the Commission shall disseminate the European statistics produced pursuant to this Regulation, with a similar periodicity to that specified in Annex I. Those statistics shall be made available on the Commission (Eurostat) website.

Exercise of the delegation : the power adopt delegated acts is conferred on the Commission :

when, as a result of economic or technical changes, the geographical breakdown levels, institutional sector breakdown levels and economic activity breakdown levels set out in Tables 6, 7 and 8 of Annex I to Regulation (EC) No 184/2005 need to be updated, provided that such updates neither affect the reporting burden nor modify the applicable underlying conceptual framework; whenever certain requirements of data flows in Annex I to that Regulation need to be eliminated or reduced, provided that such elimination or reduction does not reduce the quality of the statistics produced in accordance with this Regulation.

The power to adopt delegated acts shall be conferred on the Commission for a period of five years from the date of entry into force of this amending Regulation. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period.

The delegated act adopted shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of three months.

Implementation reports : by 28 February 2018 and every five years thereafter, the Commission should submit a report on the implementation of this Regulation.

Documents
T8-0212/2016
2016/04/07
   EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
Documents
PE604.746
2015/07/09
   EP - Committee report tabled for plenary, 1st reading
Details

The Committee on Economic and Monetary Affairs adopted the report by Sven GIEGOLD (Greens/EFA, DE) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

The committee recommended that the position of the European Parliament in first reading following the ordinary legislative procedure should amend the Commission proposal as follows:

Strengthening obligations regarding reporting and dissemination : in order to strengthen transparency and the level of detail of statistics, the committee recommended strengthening obligations on publication to take advantage of recent innovations, such as:

the global legal entity identifier (GLEI), which formed part of the Organisation for Economic Co-operation and Development (OECD) framework for improving reporting on financial account information; the recently created registries of ultimate beneficial ownership established in the framework of the anti-money laundering Directive ; the European Group Registry or the global legal entity identifier; the databases established in the framework of the Coordinated Direct Investment Survey (CDIS) initiative for the International monetary Funds (IMF)

Data flows : Members considered that the statistics produced in the framework of Regulation (EC) 184/2005 should make it possible to distinguish greenfield foreign direct investment (FDI) from FDI resulting in takeovers which for a given period do not increase the gross capital formation in the Member State concerned or do not increase the working capital of the economic unit concerned by the change in ownership.

The Commission, shall, after consulting the CMFB, initiate pilot studies related to FDI statistics on the ultimate beneficiary ownership concept and for distinguishing greenfield FDI from takeovers.

Cooperation with other international organisations: the Commission (Eurostat) should strengthen its cooperation with other international organisations such as the OECD and the International Monetary Fund (IMF), in order to promote the use of international concepts, classifications, methods and other standards, in particular with a view to ensuring consistency and better comparability at global level of the statistics produced in the context of this Regulation.

Publication of evaluations on the quality of national statistics : the Commission (Eurostat) was encouraged to make use of the provision allowing it to publicly disclose its opinion on the quality of national statistics, specifically where it had doubts concerning the accuracy of information across all types of statistics as laid out in Regulation 99/2013 of the European Parliament and of the Council on the European statistical programme 2013-17.

Public reporting on foreign direct investment : Eurostat should publish on its website, on a dedicated and user friendly page, foreign direct investment statistics for all jurisdictions covered by level Geo 6 of Annex I. It should make public disclosure of its statistics and the precise methodology used for the calculations.

Alignment of Regulation (EC) No 184/2005 with the Treaty of Lisbon (delegated acts and implementing acts): Members considered that revisions, extensions and eliminations of data flows set out in Annex I could be considered as non-essential elements to be supplemented and amended by the Commission, but were features that touched core elements of the subject matter . These elements should be therefore being revised, as appropriate, by means of legislative proposals to be adopted by the co-legislators.

Members also considered that quality review reports represented non-essential elements of the legislative act in question. Powers should therefore be conferred upon the Commission for adopting delegated acts specifying the content of such reports instead of leaving such reports to be adopted by means of implementing acts as originally proposed by the Commission.

By 28 February 2018 , the Commission should adopt a delegated for specifying the methodological requirements necessary to ensure statistical quality and comparability on FDI statistics on the ultimate beneficiary ownership concept and to distinguish greenfield FDI from takeovers, taking international cooperation into account during this process.

With regard to conditions for exercising the power of delegation , Members stated that the length of time for Parliament or Council to express objection should be extended from two months to three months (which might be extended for another three months).

Furthermore, public holidays and other interruptions of parliamentary and Council working periods shall be taken into account appropriately, extending the respective deadlines accordingly so as to ensure a proper scrutiny process within the European Parliament and the Council.

Implementation reports : by 28 February 2018 and every five years thereafter, or whenever it deems it necessary before 28 February 2018, the Commission should submit a report on the implementation of this Regulation.

Documents
A8-0227/2015
2015/06/25
   EP - Vote in committee, 1st reading
2015/06/25
   EP - Committee decision to open interinstitutional negotiations with report adopted in committee
2015/05/20
   EP - Amendments tabled in committee
Documents
PE557.198
2015/04/21
   EP - Committee draft report
Documents
PE554.881
2014/12/05
   ECB - European Central Bank: opinion, guideline, report
Details

Opinion of the European Central Bank (ECB) on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

Consulted on the proposed Regulation by the Council of the European Union, the European Central Bank (ECB) gave the following opinion:

Implementation of a new system of adopting delegated and implementing acts in the area of balance of payments (BOP) and international investment position statistics (IIP) : the ECB considers that data requirements, submission deadlines and quality assurance standards are essential elements of Regulation (EC) No 184/2005 and have a direct impact on the reporting burden of data compilers and reporting agents.

Hence, the ECB does not support the proposal in Article 1(1) of the proposed regulation to delegate powers to the Commission to amend the data requirements for BOP and IIP, including those relating to submission deadlines, revisions, extensions and eliminations of data flows. The corresponding measures should be deleted accordingly.

The role of the Committee on Monetary, Financial and Balance of Payments Statistics : the proposed regulation abolishes the BOP Committee and transfers all comitology powers to the European Statistical System Committee, on which members of the ESCB are not represented.

In order to ensure continued close cooperation in this field, the Committee on Monetary, Financial and Balance of Payments Statistics (CMFB) should be at the centre of mutual cooperation on BOP and related statistics (e.g. international trade in goods, international trade in services, foreign direct investment, foreign affiliates statistics) and would need to be consulted on proposals for new legal acts, including amending legal acts, on BOP and related statistics.

Therefore, appropriate wording should be inserted obliging the Commission to request the opinion of the CMFB before proposing amendments to essential elements of Regulation (EC) No 184/2005.

Consultation of the ECB : the ECB considers that it needs to be consulted, separately from the CMFB, on any draft implementing acts that fall within its fields of competence.

Documents
CON/2014/0084
OJ C 031 30.01.2015, p. 0003
2014/10/06
   ES_PARLIAMENT - Contribution
Documents
COM(2014)0379
2014/07/22
   EP - GIEGOLD Sven (Verts/ALE) appointed as rapporteur in ECON
2014/07/14
   EP - Committee referral announced in Parliament, 1st reading
2014/06/26
   EC - Legislative proposal published
Details

PURPOSE: to amend Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

PROPOSED ACT: Regulation of the European Parliament and of the Council.

ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

BACKGROUND: the Treaty on the Functioning of the European Union (TFEU) makes a distinction between:

powers which may be delegated to the Commission to adopt non-legislative acts of general application to supplement or amend certain non-essential elements of a particular legislative act, as laid down in Article 290(1) of the TFEU ( delegated acts ), and the implementing powers which shall be conferred upon the Commission where uniform conditions for implementing legally binding Union acts are needed, as laid down in Article 291(2) of the TFEU ( implementing acts ).

In the context of the alignment of Regulation (EC) No 184/2005 of the European Parliament and of the Council, implementing powers currently conferred upon the Commission by that Regulation should be provided for by conferring powers on the Commission to adopt delegated and/or implementing acts.

CONTENT: the objective of this proposal is to amend Regulation (EC) No 184/2005 so as to align it to the new institutional context . In particular, the aim is to identify the powers conferred upon the Commission and put in place the appropriate procedure for adopting measures on the basis of these powers.

It is proposed to:

empower the Commission to adopt delegated acts when, for reasons of economic and technical changes, data requirements need to be updated, including submission deadlines and revisions, extensions and eliminations of data flows set out in Annex I, and when the definitions set out in Annex II need to be updated; confer implementing powers upon the Commission, in accordance with the examination procedure laid down in Article 5 of Regulation (EU) No 182/2011, with a view to adopting common quality standards and harmonising the content and periodicity of the quality reports.

The European Statistical System Committee (ESSC) shall assist the Commission in exercising its implementing powers in certain statistical domains. These exclude the balance of payments, international trade in services and foreign direct investment. In these domains, according to Regulation (EC) No 184/2005, the Balance of Payments Committee (BOP Committee) assists the Commission.

The Commission is proposing a new ESS structure to improve coordination and partnership in a clear pyramid structure within the ESS, with the European Statistical System Committee (ESSC) as the highest strategic body . One aspect of this streamlining is to concentrate comitology powers in the hands of the ESSC established by Regulation (EC) No 223/2009, which is regarded as the umbrella committee within the ESS.

Therefore, it is also proposed to amend Regulation (EC) No 184/2005 by replacing the references to the BOP committee by a reference to the ESSC.

Documents
EUR-Lex
COM(2014)0379

Documents

Activities

Votes

A8-0227/2015 - Sven Giegold - Résolution législative #

2016/05/10 Outcome: +: 563, 0: 82, -: 39
DE FR IT ES PL RO GB BE HU PT NL CZ SE FI BG SK HR AT LT LV SI EL IE DK LU EE MT CY ??
Total
90
70
69
48
45
31
53
21
19
20
24
21
19
13
12
12
11
15
10
8
8
20
10
12
5
5
5
5
1
icon: PPE PPE
200

Germany PPE

34

France PPE

18

Italy PPE

14

Spain PPE

13

Poland PPE

21

Romania PPE

11

Belgium PPE

4

Hungary PPE

10

Portugal PPE

7

Netherlands PPE

5

Czechia PPE

7

Sweden PPE

4

Finland PPE

3

Bulgaria PPE

7

Slovakia PPE

5

Croatia PPE

5

Austria PPE

4

Lithuania PPE

1

Latvia PPE

4

Slovenia PPE

5

Greece PPE

5

Ireland PPE

4

Denmark PPE

For (1)

Bendt BENDTSEN
1

Luxembourg PPE

2

Estonia PPE

For (1)

Tunne KELAM
1

Malta PPE

3

Cyprus PPE

1

PPE

1
icon: S&D S&D
173

Germany S&D

25

France S&D

12

Italy S&D

28

Spain S&D

13

Poland S&D

5

Romania S&D

15

United Kingdom S&D

16

Belgium S&D

4

Hungary S&D

4

Portugal S&D

8

Netherlands S&D

3

Czechia S&D

4

Sweden S&D

5

Finland S&D

2

Bulgaria S&D

2

Slovakia S&D

4

Croatia S&D

2

Austria S&D

3

Lithuania S&D

2

Latvia S&D

1

Slovenia S&D

For (1)

Tanja FAJON
1

Greece S&D

4

Ireland S&D

For (1)

Nessa CHILDERS
1

Denmark S&D

3

Luxembourg S&D

For (1)

Mady DELVAUX
1

Estonia S&D

For (1)

Marju LAURISTIN
1

Malta S&D

2

Cyprus S&D

2
icon: ALDE ALDE
65

Germany ALDE

4

France ALDE

7

Spain ALDE

8

Romania ALDE

3

United Kingdom ALDE

1

Belgium ALDE

6

Portugal ALDE

2

Netherlands ALDE

6

Czechia ALDE

4

Sweden ALDE

3

Finland ALDE

4

Bulgaria ALDE

For (1)

Iskra MIHAYLOVA
1

Croatia ALDE

2

Austria ALDE

For (1)

Angelika MLINAR
1

Lithuania ALDE

4

Latvia ALDE

1

Slovenia ALDE

For (1)

Ivo VAJGL
1

Ireland ALDE

For (1)

Marian HARKIN
1

Denmark ALDE

3

Luxembourg ALDE

For (1)

Charles GOERENS
1

Estonia ALDE

2
icon: ECR ECR
63

Germany ECR

6

Italy ECR

2

Poland ECR

15

Romania ECR

For (1)

Monica MACOVEI
1

United Kingdom ECR

17

Belgium ECR

4

Netherlands ECR

2

Czechia ECR

2

Finland ECR

2

Bulgaria ECR

2

Slovakia ECR

3

Croatia ECR

For (1)

Ruža TOMAŠIĆ
1

Lithuania ECR

1

Latvia ECR

For (1)

Roberts ZĪLE
1

Greece ECR

Abstain (1)

Notis MARIAS
1

Denmark ECR

3
icon: Verts/ALE Verts/ALE
43

Germany Verts/ALE

9

France Verts/ALE

6

Spain Verts/ALE

4

United Kingdom Verts/ALE

3

Belgium Verts/ALE

2

Hungary Verts/ALE

2

Netherlands Verts/ALE

2

Sweden Verts/ALE

4

Finland Verts/ALE

For (1)

Heidi HAUTALA
1

Croatia Verts/ALE

For (1)

Davor ŠKRLEC
1

Austria Verts/ALE

3

Lithuania Verts/ALE

For (1)

Bronis ROPĖ
1

Latvia Verts/ALE

1

Slovenia Verts/ALE

For (1)

Igor ŠOLTES
1

Denmark Verts/ALE

For (1)

Margrete AUKEN
1

Luxembourg Verts/ALE

For (1)

Claude TURMES
1

Estonia Verts/ALE

For (1)

Indrek TARAND
1
icon: GUE/NGL GUE/NGL
48

Germany GUE/NGL

For (1)

Cornelia ERNST
8

France GUE/NGL

Abstain (1)

Patrick LE HYARIC
3

Italy GUE/NGL

3

Spain GUE/NGL

10

United Kingdom GUE/NGL

Abstain (1)

Martina ANDERSON
1

Portugal GUE/NGL

For (1)

Marisa MATIAS
3

Netherlands GUE/NGL

Abstain (1)

Anja HAZEKAMP
3

Czechia GUE/NGL

3

Sweden GUE/NGL

For (1)

Malin BJÖRK
1

Finland GUE/NGL

For (1)

Merja KYLLÖNEN
1

Greece GUE/NGL

5

Ireland GUE/NGL

4

Denmark GUE/NGL

For (1)

Rina Ronja KARI
1

Cyprus GUE/NGL

2
icon: NI NI
15

Germany NI

2

France NI

3

Poland NI

Against (1)

Janusz KORWIN-MIKKE
1

United Kingdom NI

For (1)

Diane DODDS
1

Hungary NI

3

Greece NI

5
icon: ENF ENF
38

Germany ENF

Against (1)

Marcus PRETZELL
1

France ENF

20

Italy ENF

5

Poland ENF

2

Romania ENF

Abstain (1)

Laurenţiu REBEGA
1

United Kingdom ENF

Against (1)

Janice ATKINSON
1

Belgium ENF

For (1)

Gerolf ANNEMANS
1

Netherlands ENF

3

Austria ENF

4
icon: EFDD EFDD
37

Germany EFDD

Against (1)

Beatrix von STORCH
1

France EFDD

Against (1)

Joëlle BERGERON
1

Italy EFDD

17

Poland EFDD

1

United Kingdom EFDD

13

Czechia EFDD

Abstain (1)

Petr MACH
1

Sweden EFDD

2

Lithuania EFDD

For (1)

Rolandas PAKSAS
1
AmendmentsDossier
39 2014/0194(COD)
2015/05/20 ECON 39 amendments...
source: 557.198

History

(these mark the time of scraping, not the official date of the change)

2021-12-18Show (12) Changes | Timetravel
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Rules of Procedure EP 159
2020-01-19Show (5) Changes | Timetravel
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rapporteur
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shadows
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2019-07-12Show (2) Changes | Timetravel
committees/0
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2019-07-06Show (17) Changes | Timetravel
activities
  • date: 2014-06-26T00:00:00 docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2014&nu_doc=0379 title: COM(2014)0379 type: Legislative proposal published celexid: CELEX:52014PC0379:EN body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat Commissioner: THYSSEN Marianne type: Legislative proposal published
  • date: 2014-07-14T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP shadows: group: EPP name: GÁLL-PELCZ Ildikó group: S&D name: MOSCA Alessia Maria group: ALDE name: TORVALDS Nils group: GUE/NGL name: VIEGAS Miguel responsible: True committee: ECON date: 2014-07-22T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: Verts/ALE name: GIEGOLD Sven body: EP responsible: False committee_full: Legal Affairs committee: JURI
  • date: 2015-06-25T00:00:00 body: unknown type: Committee decision to open interinstitutional negotiations with report adopted in committee
  • date: 2015-06-25T00:00:00 body: EP type: Vote in committee, 1st reading/single reading committees: body: EP shadows: group: EPP name: GÁLL-PELCZ Ildikó group: S&D name: MOSCA Alessia Maria group: ALDE name: TORVALDS Nils group: GUE/NGL name: VIEGAS Miguel responsible: True committee: ECON date: 2014-07-22T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: Verts/ALE name: GIEGOLD Sven body: EP responsible: False committee_full: Legal Affairs committee: JURI
  • body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2015-0227&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A8-0227/2015 type: Committee report tabled for plenary, 1st reading/single reading committees: body: EP shadows: group: EPP name: GÁLL-PELCZ Ildikó group: S&D name: MOSCA Alessia Maria group: ALDE name: TORVALDS Nils group: GUE/NGL name: VIEGAS Miguel responsible: True committee: ECON date: 2014-07-22T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: Verts/ALE name: GIEGOLD Sven body: EP responsible: False committee_full: Legal Affairs committee: JURI date: 2015-07-09T00:00:00
  • date: 2016-05-10T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0212 type: Decision by Parliament, 1st reading/single reading title: T8-0212/2016 body: EP type: Decision by Parliament, 1st reading/single reading
  • date: 2016-05-30T00:00:00 body: CSL type: Council Meeting council: Education, Youth, Culture and Sport meeting_id: 3471
  • date: 2016-05-30T00:00:00 body: EP/CSL type: Act adopted by Council after Parliament's 1st reading
  • date: 2016-06-08T00:00:00 body: CSL type: Final act signed
  • date: 2016-06-08T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2016-06-29T00:00:00 type: Final act published in Official Journal
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council
  • body: CSL type: Council Meeting council: Education, Youth, Culture and Sport meeting_id: 3471 url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=SMPL&ROWSPP=25&RESULTSET=1&NRROWS=500&DOC_LANCD=EN&ORDERBY=DOC_DATE+DESC&CONTENTS=3471*&MEET_DATE=30/05/2016 date: 2016-05-30T00:00:00
docs
  • date: 2014-12-05T00:00:00 docs: url: https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52014AB0084:EN:NOT title: CON/2014/0084 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:2015:031:TOC title: OJ C 031 30.01.2015, p. 0003 summary: Opinion of the European Central Bank (ECB) on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures. Consulted on the proposed Regulation by the Council of the European Union, the European Central Bank (ECB) gave the following opinion: Implementation of a new system of adopting delegated and implementing acts in the area of balance of payments (BOP) and international investment position statistics (IIP) : the ECB considers that data requirements, submission deadlines and quality assurance standards are essential elements of Regulation (EC) No 184/2005 and have a direct impact on the reporting burden of data compilers and reporting agents. Hence, the ECB does not support the proposal in Article 1(1) of the proposed regulation to delegate powers to the Commission to amend the data requirements for BOP and IIP, including those relating to submission deadlines, revisions, extensions and eliminations of data flows. The corresponding measures should be deleted accordingly. The role of the Committee on Monetary, Financial and Balance of Payments Statistics : the proposed regulation abolishes the BOP Committee and transfers all comitology powers to the European Statistical System Committee, on which members of the ESCB are not represented. In order to ensure continued close cooperation in this field, the Committee on Monetary, Financial and Balance of Payments Statistics (CMFB) should be at the centre of mutual cooperation on BOP and related statistics (e.g. international trade in goods, international trade in services, foreign direct investment, foreign affiliates statistics) and would need to be consulted on proposals for new legal acts, including amending legal acts, on BOP and related statistics. Therefore, appropriate wording should be inserted obliging the Commission to request the opinion of the CMFB before proposing amendments to essential elements of Regulation (EC) No 184/2005. Consultation of the ECB : the ECB considers that it needs to be consulted, separately from the CMFB, on any draft implementing acts that fall within its fields of competence. type: European Central Bank: opinion, guideline, report body: ECB
  • date: 2015-04-21T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE554.881 title: PE554.881 type: Committee draft report body: EP
  • date: 2015-05-20T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE557.198 title: PE557.198 type: Amendments tabled in committee body: EP
  • date: 2016-06-08T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=[%n4]%2F16&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 00008/2016/LEX type: Draft final act body: CSL
  • date: 2016-06-15T00:00:00 docs: url: /oeil/spdoc.do?i=25998&j=0&l=en title: SP(2016)411 type: Commission response to text adopted in plenary
  • date: 2014-10-06T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2014)0379 title: COM(2014)0379 type: Contribution body: ES_PARLIAMENT
events
  • date: 2014-06-26T00:00:00 type: Legislative proposal published body: EC docs: url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2014&nu_doc=0379 title: EUR-Lex title: COM(2014)0379 summary: PURPOSE: to amend Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures. PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: the Treaty on the Functioning of the European Union (TFEU) makes a distinction between: powers which may be delegated to the Commission to adopt non-legislative acts of general application to supplement or amend certain non-essential elements of a particular legislative act, as laid down in Article 290(1) of the TFEU ( delegated acts ), and the implementing powers which shall be conferred upon the Commission where uniform conditions for implementing legally binding Union acts are needed, as laid down in Article 291(2) of the TFEU ( implementing acts ). In the context of the alignment of Regulation (EC) No 184/2005 of the European Parliament and of the Council, implementing powers currently conferred upon the Commission by that Regulation should be provided for by conferring powers on the Commission to adopt delegated and/or implementing acts. CONTENT: the objective of this proposal is to amend Regulation (EC) No 184/2005 so as to align it to the new institutional context . In particular, the aim is to identify the powers conferred upon the Commission and put in place the appropriate procedure for adopting measures on the basis of these powers. It is proposed to: empower the Commission to adopt delegated acts when, for reasons of economic and technical changes, data requirements need to be updated, including submission deadlines and revisions, extensions and eliminations of data flows set out in Annex I, and when the definitions set out in Annex II need to be updated; confer implementing powers upon the Commission, in accordance with the examination procedure laid down in Article 5 of Regulation (EU) No 182/2011, with a view to adopting common quality standards and harmonising the content and periodicity of the quality reports. The European Statistical System Committee (ESSC) shall assist the Commission in exercising its implementing powers in certain statistical domains. These exclude the balance of payments, international trade in services and foreign direct investment. In these domains, according to Regulation (EC) No 184/2005, the Balance of Payments Committee (BOP Committee) assists the Commission. The Commission is proposing a new ESS structure to improve coordination and partnership in a clear pyramid structure within the ESS, with the European Statistical System Committee (ESSC) as the highest strategic body . One aspect of this streamlining is to concentrate comitology powers in the hands of the ESSC established by Regulation (EC) No 223/2009, which is regarded as the umbrella committee within the ESS. Therefore, it is also proposed to amend Regulation (EC) No 184/2005 by replacing the references to the BOP committee by a reference to the ESSC.
  • date: 2014-07-14T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2015-06-25T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2015-06-25T00:00:00 type: Committee decision to open interinstitutional negotiations with report adopted in committee body: EP
  • date: 2015-07-09T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2015-0227&language=EN title: A8-0227/2015 summary: The Committee on Economic and Monetary Affairs adopted the report by Sven GIEGOLD (Greens/EFA, DE) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures. The committee recommended that the position of the European Parliament in first reading following the ordinary legislative procedure should amend the Commission proposal as follows: Strengthening obligations regarding reporting and dissemination : in order to strengthen transparency and the level of detail of statistics, the committee recommended strengthening obligations on publication to take advantage of recent innovations, such as: the global legal entity identifier (GLEI), which formed part of the Organisation for Economic Co-operation and Development (OECD) framework for improving reporting on financial account information; the recently created registries of ultimate beneficial ownership established in the framework of the anti-money laundering Directive ; the European Group Registry or the global legal entity identifier; the databases established in the framework of the Coordinated Direct Investment Survey (CDIS) initiative for the International monetary Funds (IMF) Data flows : Members considered that the statistics produced in the framework of Regulation (EC) 184/2005 should make it possible to distinguish greenfield foreign direct investment (FDI) from FDI resulting in takeovers which for a given period do not increase the gross capital formation in the Member State concerned or do not increase the working capital of the economic unit concerned by the change in ownership. The Commission, shall, after consulting the CMFB, initiate pilot studies related to FDI statistics on the ultimate beneficiary ownership concept and for distinguishing greenfield FDI from takeovers. Cooperation with other international organisations: the Commission (Eurostat) should strengthen its cooperation with other international organisations such as the OECD and the International Monetary Fund (IMF), in order to promote the use of international concepts, classifications, methods and other standards, in particular with a view to ensuring consistency and better comparability at global level of the statistics produced in the context of this Regulation. Publication of evaluations on the quality of national statistics : the Commission (Eurostat) was encouraged to make use of the provision allowing it to publicly disclose its opinion on the quality of national statistics, specifically where it had doubts concerning the accuracy of information across all types of statistics as laid out in Regulation 99/2013 of the European Parliament and of the Council on the European statistical programme 2013-17. Public reporting on foreign direct investment : Eurostat should publish on its website, on a dedicated and user friendly page, foreign direct investment statistics for all jurisdictions covered by level Geo 6 of Annex I. It should make public disclosure of its statistics and the precise methodology used for the calculations. Alignment of Regulation (EC) No 184/2005 with the Treaty of Lisbon (delegated acts and implementing acts): Members considered that revisions, extensions and eliminations of data flows set out in Annex I could be considered as non-essential elements to be supplemented and amended by the Commission, but were features that touched core elements of the subject matter . These elements should be therefore being revised, as appropriate, by means of legislative proposals to be adopted by the co-legislators. Members also considered that quality review reports represented non-essential elements of the legislative act in question. Powers should therefore be conferred upon the Commission for adopting delegated acts specifying the content of such reports instead of leaving such reports to be adopted by means of implementing acts as originally proposed by the Commission. By 28 February 2018 , the Commission should adopt a delegated for specifying the methodological requirements necessary to ensure statistical quality and comparability on FDI statistics on the ultimate beneficiary ownership concept and to distinguish greenfield FDI from takeovers, taking international cooperation into account during this process. With regard to conditions for exercising the power of delegation , Members stated that the length of time for Parliament or Council to express objection should be extended from two months to three months (which might be extended for another three months). Furthermore, public holidays and other interruptions of parliamentary and Council working periods shall be taken into account appropriately, extending the respective deadlines accordingly so as to ensure a proper scrutiny process within the European Parliament and the Council. Implementation reports : by 28 February 2018 and every five years thereafter, or whenever it deems it necessary before 28 February 2018, the Commission should submit a report on the implementation of this Regulation.
  • date: 2016-04-07T00:00:00 type: Approval in committee of the text agreed at 1st reading interinstitutional negotiations body: EP docs: url: http://www.europarl.europa.eu/RegData/commissions/econ/inag/2016/02-24/ECON_AG(2016)604746_EN.pdf title: PE604.746
  • date: 2016-05-10T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=25998&l=en title: Results of vote in Parliament
  • date: 2016-05-10T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0212 title: T8-0212/2016 summary: The European Parliament adopted by 563 votes to 39, with 82 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures. Parliament’s position, adopted at first reading under the ordinary legislative procedure, amended the Commission proposal as follows: Quality of statistics : the amended text stressed that balance of payments, international trade in services and FDI are of vital importance in ensuring informed economic policy-making and accurate economic forecasting. Statistics of high quality and comparability are essential for those responsible for public policy in the Union, researchers and all European citizens. Strengthening obligations regarding reporting and dissemination : inn order to collect the appropriate information, Member States should use all relevant and appropriate sources, including administrative data sources such as business registers or the EuroGroups Register . Transparency could also be enhanced by: taking advantage of recent innovations, such as the global legal entity identifier , taking advantage of the registries of beneficial ownership established in the framework of Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Data flows : the statistics to be produced shall be grouped for transmission to the Commission (Eurostat) in accordance with the following data flows: balance of payments monthly statistics; balance of payments quarterly statistics; international trade in services; FDI flows; FDI positions. The Commission (Eurostat) and Member States, in cooperation with the relevant international partners, shall develop the appropriate methodology for compiling FDI statistics based on the ultimate ownership concept in addition to the immediate counterpart principle and FDI statistics distinguishing greenfield FDI transactions from takeovers , which for a given period, generally, do not lead to an increase in the gross capital formation in the Member States, the appropriate methodology for those domains should be developed and enhanced. This should be done in collaboration with relevant stakeholders such as the Organisation for Economic Co-operation and Development, the International Monetary Fund and the United Nations Conference on Trade and Development. By 2 years after the entry into force of this amending Regulation, the Commission (Eurostat) shall institute pilot studies to be carried out by Member States relating to annual FDI statistics based on the ultimate ownership concept and FDI statistics distinguishing greenfield FDI transactions from takeovers. A report on the findings of the studies shall be prepared by the Commission (Eurostat). It shall be forwarded to the European Parliament and to the Council. No later than 12 months after the date of issuing the report, the Commission shall, where appropriate, and depending in particular on the assessment by the Commission of the result of the pilot studies, make a proposal for amendments to this Regulation. Quality criteria and reports : the quality criteria set out in Regulation (EC) No 223/2009 shall apply to the data to be transmitted in accordance with the present Regulation. Member States shall provide the Commission (Eurostat) with a report on the quality of the data transmitted . The modalities, structure and periodicity of the quality reports shall be defined by the Commission by means of implementing acts . Dissemination : the Commission shall disseminate the European statistics produced pursuant to this Regulation, with a similar periodicity to that specified in Annex I. Those statistics shall be made available on the Commission (Eurostat) website. Exercise of the delegation : the power adopt delegated acts is conferred on the Commission : when, as a result of economic or technical changes, the geographical breakdown levels, institutional sector breakdown levels and economic activity breakdown levels set out in Tables 6, 7 and 8 of Annex I to Regulation (EC) No 184/2005 need to be updated, provided that such updates neither affect the reporting burden nor modify the applicable underlying conceptual framework; whenever certain requirements of data flows in Annex I to that Regulation need to be eliminated or reduced, provided that such elimination or reduction does not reduce the quality of the statistics produced in accordance with this Regulation. The power to adopt delegated acts shall be conferred on the Commission for a period of five years from the date of entry into force of this amending Regulation. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period. The delegated act adopted shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of three months. Implementation reports : by 28 February 2018 and every five years thereafter, the Commission should submit a report on the implementation of this Regulation.
  • date: 2016-05-30T00:00:00 type: Act adopted by Council after Parliament's 1st reading body: EP/CSL
  • date: 2016-06-08T00:00:00 type: Final act signed body: CSL
  • date: 2016-06-08T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2016-06-29T00:00:00 type: Final act published in Official Journal summary: PURPOSE: to amend Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment and align that Regulation with rules in the Treaty on the Functioning of the EU which empower the Commission adopt delegated and/or implementing acts. LEGISLATIVE ACT: Regulation (EU) 2016/1013 of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment. CONTENT: European statistics on balance of payments, international trade in services and foreign direct investment (FDI) statistics are of vital importance in ensuring informed economic policymaking and accurate economic forecasting. The Regulation stresses that it is essential for those responsible for public policy in the Union, researchers and all European citizens, to have access to statistics that are of high quality and comparability. The main amendments to Regulation (EC) No 184/2005 are as follows: Quality criteria and reports : the quality criteria set out in Regulation (EC) No 223/2009 shall apply to the data to be transmitted in accordance with this Regulation. Member States shall provide the Commission (Eurostat) with a report on the quality of the data transmitted . In applying the quality criteria referred to the data covered by this Regulation, the modalities, structure and periodicity of the quality reports shall be defined by the Commission by means of implementing acts. The Commission (Eurostat) shall assess the quality of the data transmitted on the basis of an appropriate analysis of the quality reports, with the assistance of the European Statistical System Committee, and shall publish a report on the quality of European statistics covered by the Regulation. That report shall be submitted to the European Parliament and to the Council for information purposes. Data Flows: the statistics to be produced shall be grouped for transmission to the Commission (Eurostat) in accordance with the following data flows: · balance of payments monthly statistics; · balance of payments quarterly statistics; · international trade in services; · FDI flows; · FDI positions. The Commission (Eurostat) and Member States, in cooperation with the relevant international partners, shall develop the appropriate methodology for compiling FDI statistics based on the ultimate ownership concept in addition to the immediate counterpart principle and FDI statistics distinguishing greenfield FDI transactions from takeovers. Pilot studies : by 20 July 2018, the Commission (Eurostat) shall institute pilot studies to be carried out by Member States relating to annual FDI statistics based on the ultimate ownership concept and FDI statistics distinguishing greenfield FDI transactions from takeovers. By 20 July 2019, the Commission (Eurostat) shall prepare a report on the findings of these studies. That report shall be forwarded to the European Parliament and to the Council and, if appropriate, shall identify the remaining conditions that need to be fulfilled in order to develop the methodology for compiling FDI statistics. Dissemination: the Commission (Eurostat) shall disseminate the European statistics produced pursuant to the Regulation, with a similar periodicity to that specified in Annex I. Those statistics shall be made available on the Commission (Eurostat) website. Alignment of Regulation (EC) No 184/2005 with the provisions of the Lisbon Treaty: the Regulation replaces provisions referring to the regulatory procedure with scrutiny by provisions enabling the Commission to adopt delegated acts and/or implementing acts Thus, the Commission may adopt delegated acts: · when, as a result of economic or technical changes, the geographical breakdown levels, institutional sector breakdown levels and economic activity breakdown levels set out in Tables 6, 7 and 8 of Annex I to Regulation (EC) No 184/2005 need to be updated, provided that such updates neither affect the reporting burden nor modify the applicable underlying conceptual framework; · whenever certain requirements of data flows in Annex I to that Regulation need to be eliminated or reduced, provided that such elimination or reduction does not reduce the quality of the statistics produced in accordance with this Regulation. The power to adopt delegated acts shall be conferred on the Commission for a period of five years from 19 July 2016, which shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period. In order to ensure uniform conditions for the implementation of Regulation (EC) No 184/2005, implementing powers are conferred on the Commission with a view to harmonising the modalities, structure and periodicity of the quality reports. Reports on implementation: by 28 February 2018, then every five years, the Commission shall present a report on the implementation of the Regulation. ENTRY INTO FORCE: 19.7.2016. docs: title: Regulation 2016/1013 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32016R1013 title: OJ L 171 29.06.2016, p. 0144 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2016:171:TOC
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  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat commissioner: THYSSEN Marianne
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OJ L 171 29.06.2016, p. 0144
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Regulation 2016/1013
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  • 5.10.01 Convergence of economic policies, public deficit, interest rates
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  • Amending Regulation (EC) No 184/2005
2016-06-30Show (4) Changes | Timetravel
activities/10
date
2016-06-29T00:00:00
type
Final act published in Official Journal
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OJ L 171 29.06.2016, p. 0144
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Statistics concerning balance of payments, international trade in services and foreign direct investment: Commission delegated and implementing powers
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Statistics concerning balance of payments, international trade in services and foreign direct investment
2016-06-14Show (1) Changes | Timetravel
activities/9
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2016-06-08T00:00:00
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End of procedure in Parliament
2016-06-10Show (2) Changes | Timetravel
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2016-06-08T00:00:00
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2016-06-09Show (3) Changes | Timetravel
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Act adopted by Council after Parliament's 1st reading
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Old
Provisional agreement between Parliament and Council on final act
New
Awaiting signature of act
2016-05-21Show (1) Changes | Timetravel
activities/5/docs/0/text

  • The European Parliament adopted by 563 votes to 39, with 82 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

    Parliament’s position, adopted at first reading under the ordinary legislative procedure, amended the Commission proposal as follows:

    Quality of statistics: the amended text stressed that balance of payments, international trade in services and FDI are of vital importance in ensuring informed economic policy-making and accurate economic forecasting. Statistics of high quality and comparability are essential for those responsible for public policy in the Union, researchers and all European citizens.

    Strengthening obligations regarding reporting and dissemination: inn order to collect the appropriate information, Member States should use all relevant and appropriate sources, including administrative data sources such as business registers or the EuroGroups Register.

    Transparency could also be enhanced by:

    • taking advantage of recent innovations, such as the global legal entity identifier,
    • taking advantage of the registries of beneficial ownership established in the framework of Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

    Data flows: the statistics to be produced shall be grouped for transmission to the Commission (Eurostat) in accordance with the following data flows:

    • balance of payments monthly statistics;
    • balance of payments quarterly statistics;
    • international trade in services;
    • FDI flows;
    • FDI positions.

    The Commission (Eurostat) and Member States, in cooperation with the relevant international partners, shall develop the appropriate methodology for compiling FDI statistics based on the ultimate ownership concept in addition to the immediate counterpart principle and FDI statistics distinguishing greenfield FDI transactions from takeovers, which for a given period, generally, do not lead to an increase in the gross capital formation in the Member States, the appropriate methodology for those domains should be developed and enhanced.

    This should be done in collaboration with relevant stakeholders such as the Organisation for Economic Co-operation and Development, the International Monetary Fund and the United Nations Conference on Trade and Development.

    By 2 years after the entry into force of this amending Regulation, the Commission (Eurostat) shall institute pilot studies to be carried out by Member States relating to annual FDI statistics based on the ultimate ownership concept and FDI statistics distinguishing greenfield FDI transactions from takeovers.

    A report on the findings of the studies shall be prepared by the Commission (Eurostat). It shall be forwarded to the European Parliament and to the Council. No later than 12 months after the date of issuing the report, the Commission shall, where appropriate, and depending in particular on the assessment by the Commission of the result of the pilot studies, make a proposal for amendments to this Regulation.

    Quality criteria and reports: the quality criteria set out in Regulation (EC) No 223/2009 shall apply to the data to be transmitted in accordance with the present Regulation. Member States shall provide the Commission (Eurostat) with a report on the quality of the data transmitted. The modalities, structure and periodicity of the quality reports shall be defined by the Commission by means of implementing acts.

    Dissemination: the Commission shall disseminate the European statistics produced pursuant to this Regulation, with a similar periodicity to that specified in Annex I. Those statistics shall be made available on the Commission (Eurostat) website.

    Exercise of the delegation: the power adopt delegated acts is conferred on the Commission :

    • when, as a result of economic or technical changes, the geographical breakdown levels, institutional sector breakdown levels and economic activity breakdown levels set out in Tables 6, 7 and 8 of Annex I to Regulation (EC) No 184/2005 need to be updated, provided that such updates neither affect the reporting burden nor modify the applicable underlying conceptual framework;
    • whenever certain requirements of data flows in Annex I to that Regulation need to be eliminated or reduced, provided that such elimination or reduction does not reduce the quality of the statistics produced in accordance with this Regulation.

    The power to adopt delegated acts shall be conferred on the Commission for a period of five years from the date of entry into force of this amending Regulation. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period.

    The delegated act adopted shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of three months.

    Implementation reports: by 28 February 2018 and every five years thereafter, the Commission should submit a report on the implementation of this Regulation.
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  • url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0212 type: Decision by Parliament, 1st reading/single reading title: T8-0212/2016
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2015-06-25T00:00:00
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Committee decision to open interinstitutional negotiations with report adopted in committee
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  • The Committee on Economic and Monetary Affairs adopted the report by Sven GIEGOLD (Greens/EFA, DE) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

    The committee recommended that the position of the European Parliament in first reading following the ordinary legislative procedure should amend the Commission proposal as follows:

    Strengthening obligations regarding reporting and dissemination: in order to strengthen transparency and the level of detail of statistics, the committee recommended strengthening obligations on publication to take advantage of recent innovations, such as:

    • the global legal entity identifier (GLEI), which formed part of the Organisation for Economic Co-operation and Development (OECD) framework for improving reporting on financial account information;
    • the recently created registries of ultimate beneficial ownership established in the framework of the anti-money laundering Directive;
    • the European Group Registry or the global legal entity identifier;
    • the databases established in the framework of the Coordinated Direct Investment Survey (CDIS) initiative for the International monetary Funds (IMF)

    Data flows: Members considered that the statistics produced in the framework of Regulation (EC) 184/2005 should make it possible to distinguish greenfield foreign direct investment (FDI) from FDI resulting in takeovers which for a given period do not increase the gross capital formation in the Member State concerned or do not increase the working capital of the economic unit concerned by the change in ownership.

    The Commission, shall, after consulting the CMFB, initiate pilot studies related to FDI statistics on the ultimate beneficiary ownership concept and for distinguishing greenfield FDI from takeovers. 

    Cooperation with other international organisations: the Commission (Eurostat) should strengthen its cooperation with other international organisations such as the OECD and the International Monetary Fund (IMF), in order to promote the use of international concepts, classifications, methods and other standards, in particular with a view to ensuring consistency and better comparability at global level of the statistics produced in the context of this Regulation.

    Publication of evaluations on the quality of national statistics: the Commission (Eurostat) was encouraged to make use of the provision allowing it to publicly disclose its opinion on the quality of national statistics, specifically where it had doubts concerning the accuracy of information across all types of statistics as laid out in Regulation 99/2013 of the European Parliament and of the Council on the European statistical programme 2013-17.

    Public reporting on foreign direct investment: Eurostat should publish on its website, on a dedicated and user friendly page, foreign direct investment statistics for all jurisdictions covered by level Geo 6 of Annex I. It should make public disclosure of its statistics and the precise methodology used for the calculations.

    Alignment of Regulation (EC) No 184/2005 with the Treaty of Lisbon (delegated acts and implementing acts): Members considered that revisions, extensions and eliminations of data flows set out in Annex I could be considered as non-essential elements to be supplemented and amended by the Commission, but were features that touched core elements of the subject matter. These elements should be therefore being revised, as appropriate, by means of legislative proposals to be adopted by the co-legislators. 

    Members also considered that quality review reports represented non-essential elements of the legislative act in question. Powers should therefore be conferred upon the Commission for adopting delegated acts specifying the content of such reports instead of leaving such reports to be adopted by means of implementing acts as originally proposed by the Commission.

    By 28 February 2018, the Commission should adopt a delegated for specifying the methodological requirements necessary to ensure statistical quality and comparability on FDI statistics on the ultimate beneficiary ownership concept and to distinguish greenfield FDI from takeovers, taking international cooperation into account during this process.

    With regard to conditions for exercising the power of delegation, Members stated that the length of time for Parliament or Council to express objection should be extended from two months to three months (which might be extended for another three months).

    Furthermore, public holidays and other interruptions of parliamentary and Council working periods shall be taken into account appropriately, extending the respective deadlines accordingly so as to ensure a proper scrutiny process within the European Parliament and the Council.

    Implementation reports: by 28 February 2018 and every five years thereafter, or whenever it deems it necessary before 28 February 2018, the Commission should submit a report on the implementation of this Regulation.
2015-07-24Show (1) Changes | Timetravel
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  • url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2015-0227&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A8-0227/2015
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CELEX:52014PC0379:EN
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CELEX:52014PC0379:EN
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CELEX:52014PC0379:EN
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TREMOSA I BALCELLS Ramon
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TREMOSA I BALCELLS Ramon
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ALDE
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TREMOSA I BALCELLS Ramon
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TREMOSA I BALCELLS Ramon
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GUE/NGL
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VIEGAS Miguel
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GUE/NGL
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VIEGAS Miguel
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  • group: EPP name: GÁLL-PELCZ Ildikó
  • group: S&D name: MOSCA Alessia Maria
  • group: ALDE name: TORVALDS Nils
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  • group: EPP name: GÁLL-PELCZ Ildikó
  • group: S&D name: MOSCA Alessia Maria
  • group: ALDE name: TORVALDS Nils
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activities/0/docs/0/text

  • PURPOSE: to amend Regulation (EC) No 184/2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment as regards conferring of delegated and implementing powers upon the Commission for the adoption of certain measures.

    PROPOSED ACT: Regulation of the European Parliament and of the Council.

    ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

    BACKGROUND: the Treaty on the Functioning of the European Union (TFEU) makes a distinction between:

    • powers which may be delegated to the Commission to adopt non-legislative acts of general application to supplement or amend certain non-essential elements of a particular legislative act, as laid down in Article 290(1) of the TFEU (delegated acts),
    • and the implementing powers which shall be conferred upon the Commission where uniform conditions for implementing legally binding Union acts are needed, as laid down in Article 291(2) of the TFEU (implementing acts).

    In the context of the alignment of Regulation (EC) No 184/2005 of the European Parliament and of the Council, implementing powers currently conferred upon the Commission by that Regulation should be provided for by conferring powers on the Commission to adopt delegated and/or implementing acts.

    CONTENT:  the objective of this proposal is to amend Regulation (EC) No 184/2005 so as to align it to the new institutional context. In particular, the aim is to identify the powers conferred upon the Commission and put in place the appropriate procedure for adopting measures on the basis of these powers.

    It is proposed to:

    • empower the Commission to adopt delegated acts when, for reasons of economic and technical changes, data requirements need to be updated, including submission deadlines and revisions, extensions and eliminations of data flows set out in Annex I, and when the definitions set out in Annex II need to be updated;
    • confer implementing powers upon the Commission, in accordance with the examination procedure laid down in Article 5 of Regulation (EU) No 182/2011, with a view to adopting common quality standards and harmonising the content and periodicity of the quality reports.

    The European Statistical System Committee (ESSC) shall assist the Commission in exercising its implementing powers in certain statistical domains. These exclude the balance of payments, international trade in services and foreign direct investment. In these domains, according to Regulation (EC) No 184/2005, the Balance of Payments Committee (BOP Committee) assists the Commission.

    The Commission is proposing a new ESS structure to improve coordination and partnership in a clear pyramid structure within the ESS, with the European Statistical System Committee (ESSC) as the highest strategic body. One aspect of this streamlining is to concentrate comitology powers in the hands of the ESSC established by Regulation (EC) No 223/2009, which is regarded as the umbrella committee within the ESS.

    Therefore, it is also proposed to amend Regulation (EC) No 184/2005 by replacing the references to the BOP committee by a reference to the ESSC.
2014-09-06Show (4) Changes | Timetravel
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2014-07-22T00:00:00
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  • group: Verts/ALE name: GIEGOLD Sven
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2014-07-22T00:00:00
committees/0/rapporteur
  • group: Verts/ALE name: GIEGOLD Sven
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activities/1
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2014-07-14T00:00:00
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EP
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ECON/8/00660
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Old
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2014-07-15Show (5) Changes
activities
  • date: 2014-06-26T00:00:00 docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2014&nu_doc=0379 title: COM(2014)0379 type: Legislative proposal published celexid: CELEX:52014PC0379:EN body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat Commissioner: ŠEMETA Algirdas type: Legislative proposal published
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  • body: EP responsible: True committee_full: Economic and Monetary Affairs committee: ECON
  • body: EP responsible: False committee_full: Legal Affairs committee: JURI
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European Commission
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  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat commissioner: ŠEMETA Algirdas
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2014/0194(COD)
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Legislation
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Treaty on the Functioning of the EU TFEU 338-p1
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Preparatory phase in Parliament
summary
Amending Regulation (EC) No 184/2005
instrument
Regulation
title
Statistics concerning balance of payments, international trade in services and foreign direct investment: Commission delegated and implementing powers
type
COD - Ordinary legislative procedure (ex-codecision procedure)
subject
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