Dear Financial Stability, Financial Services and Capital Markets Union,

Under the right of access to documents in the EU treaties, as developed in Regulation 1049/2001, I am requesting documents which contain the following information:

I would like documents/memos/notes concerning the Commission's withdrawing of civil liability from MIFID II while during consultation it had called this measure "essential".

Background:
on 8 December 2010, the EC issued a consultation paper during its review of MIFID:
https://ec.europa.eu/finance/consultatio...
On p.63/ section 7.2.6.Liability of firms providing services the EC stated:

"The Commission services regularly receive complaints, especially from retail investors, claiming that firms have violated conduct of business obligations. Introducing a principle of civil liability of investment services providers would be essential for ensuring an equal level of investor protection in the EU. Such a principle, could be included in the framework directive and would enable clients to claim damages against investment firms infringing MiFID rules, particularly in areas concerning the relationship between firms and clients and where specific obligations towards the client are foreseen. The following areas could be covered: information requirements, suitability and appropriateness test,reporting requirements,best execution and client order handling."

It then solicted responses to 2 related questions.

We know that over 4000 responses were received and the Commission dropped civil liability from the subsequent MiFID II.

Per above, I request any all memos/documents/notes/recorded information concerning the dropping of civil liability from MIFID II.

Yours faithfully,

Steve Martin

Stabilité financière, services financiers et union des marchés des capitaux

Your message has been received by the Transparency Unit of the
Secretariat-General of the European Commission.
Requests for public access to documents are treated on the basis of
[1]Regulation (EC) No 1049/2001 of 30 May 2001 regarding public access to
European Parliament, Council and Commission documents.
The Secretariat-General will reply to your request within 15 working days
upon registration of your request and will duly inform you of the
registration of the request (or of any additional information to be
provided in view of its registration and/or treatment).
 
 
L’unité «Transparence» du secrétariat général de la Commission européenne
a bien reçu votre message.
Les demandes d’accès du public aux documents sont traitées sur la base du
[2]règlement (CE) n° 1049/2001 du 30 mai 2001 relatif à l’accès du public
aux documents du Parlement européen, du Conseil et de la Commission.
Le secrétariat général répondra à votre demande dans un délai de 15 jours
ouvrables à compter de la date d’enregistrement de votre demande, et vous
informera de cet enregistrement (ou vous indiquera toute information
supplémentaire à fournir en vue de l'enregistrement et/ou du traitement de
votre demande).
 
 
Ihre Nachricht ist beim Referat „Transparenz“ des Generalsekretariats der
Europäischen Kommission eingegangen.
Anträge auf Zugang zu Dokumenten werden auf der Grundlage der
[3]Verordnung (EG) Nr. 1049/2001 vom 30. Mai 2001 über den Zugang der
Öffentlichkeit zu Dokumenten des Europäischen Parlaments, des Rates und
der Kommission behandelt.
Das Generalsekretariat beantwortet Ihre Anfrage innerhalb von
15 Arbeitstagen nach deren Registrierung und wird Sie über die
Registrierung Ihres Antrags (oder die Notwendigkeit weiterer Informationen
im Hinblick auf dessen Registrierung und/oder Bearbeitung) unterrichten.
 
 

References

Visible links
1. https://eur-lex.europa.eu/legal-content/...
2. https://eur-lex.europa.eu/legal-content/...
3. https://eur-lex.europa.eu/legal-content/...

Stabilité financière, services financiers et union des marchés des capitaux

Dear Sir,

Thank you for your request for access to documents.

Unfortunately, you have not indicated your postal address and you complete name. This is necessary for registering and handling your request in line with the procedural requirements.

Please send us your full postal address at your earliest convenience. Pending your reply, we reserve the right to refuse the registration of your request.

Alternatively, you may use directly the electronic form available on the Europa website:

http://ec.europa.eu/transparency/regdoc/....

Best regards,

Access to documents team
SG.C.1
Transparency

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Dear Financial Stability, Financial Services and Capital Markets Union,

Cava de San Miguel 8,
4º centro. 28005
Madrid (Spain)

Yours faithfully,

Steve Martin

Stabilité financière, services financiers et union des marchés des capitaux

Your message has been received by the Transparency Unit of the
Secretariat-General of the European Commission.
Requests for public access to documents are treated on the basis of
[1]Regulation (EC) No 1049/2001 of 30 May 2001 regarding public access to
European Parliament, Council and Commission documents.
The Secretariat-General will reply to your request within 15 working days
upon registration of your request and will duly inform you of the
registration of the request (or of any additional information to be
provided in view of its registration and/or treatment).
 
 
L’unité «Transparence» du secrétariat général de la Commission européenne
a bien reçu votre message.
Les demandes d’accès du public aux documents sont traitées sur la base du
[2]règlement (CE) n° 1049/2001 du 30 mai 2001 relatif à l’accès du public
aux documents du Parlement européen, du Conseil et de la Commission.
Le secrétariat général répondra à votre demande dans un délai de 15 jours
ouvrables à compter de la date d’enregistrement de votre demande, et vous
informera de cet enregistrement (ou vous indiquera toute information
supplémentaire à fournir en vue de l'enregistrement et/ou du traitement de
votre demande).
 
 
Ihre Nachricht ist beim Referat „Transparenz“ des Generalsekretariats der
Europäischen Kommission eingegangen.
Anträge auf Zugang zu Dokumenten werden auf der Grundlage der
[3]Verordnung (EG) Nr. 1049/2001 vom 30. Mai 2001 über den Zugang der
Öffentlichkeit zu Dokumenten des Europäischen Parlaments, des Rates und
der Kommission behandelt.
Das Generalsekretariat beantwortet Ihre Anfrage innerhalb von
15 Arbeitstagen nach deren Registrierung und wird Sie über die
Registrierung Ihres Antrags (oder die Notwendigkeit weiterer Informationen
im Hinblick auf dessen Registrierung und/oder Bearbeitung) unterrichten.
 
 

References

Visible links
1. https://eur-lex.europa.eu/legal-content/...
2. https://eur-lex.europa.eu/legal-content/...
3. https://eur-lex.europa.eu/legal-content/...

ve_sg.accessdoc (SG), Stabilité financière, services financiers et union des marchés des capitaux

1 Attachment

  • Attachment

    RE access to documents request Dropping of civil liability from MiFID II.html

    1K Download

[1]Ares(2020)4146484 - RE: access to documents request - Dropping of civil
liability from MiFID II --- Ref. Gestdem 2020/4752

Sent by ve_sg.accessdoc (SG) <[DG FISMA request email]>. All responses have
to be sent to this email address.
Envoyé par ve_sg.accessdoc (SG) <[DG FISMA request email]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Sir,

Thank you for your e-mail of 06/08/2020. We hereby acknowledge receipt of
your application for access to documents, which was registered on
06/08/2020 under reference number GESTDEM 2020/4752.

In accordance with Regulation (EC) No 1049/2001 regarding public access to
European Parliament, Council and Commission documents, your application
will be handled within 15 working days.

The time limit will expire on 27/08/2020. In case this time limit needs to
be extended, you will be informed in due course.

You have lodged your application via a private third-party website, which
has no link with any institution of the European Union.
Therefore, the European Commission cannot be held accountable for any
technical issues or problems linked to the use of this system.

Please note that the private third party running the AsktheEU.org website
is responsible and accountable for the processing of your personal data
via that website, and not the Commission.
For further information on your rights, please refer to the third party’s
privacy policy.

We understand that the third party running the AsktheEU.org website
usually publishes the content of applicants’ correspondence with the
Commission on that website. This includes the personal data that you may
have communicated to the Commission (e.g. your private postal address).

Similarly, the third party publishes on that website any reply that the
Commission will send to the email address of the applicants generated by
the AsktheEU.org website.

If you do not wish that your correspondence with the Commission is
published on a private third-party website such as AsktheEU.org, you can
provide us with an alternative, private e-mail address for further
correspondence. In that case, the Commission will send all future
electronic correspondence addressed to you only to that private address,
and it will use only that private address to reply to your request. You
should still remain responsible to inform the private third-party website
about this change of how you wish to communicate with, and receive a reply
from, the Commission.

For information on how we process your personal data visit our page
Privacy statement – access to documents.

Yours faithfully,
Access to Documents Team (rc)

Afficher les sections citées

ve_fisma.c.3 (FISMA), Stabilité financière, services financiers et union des marchés des capitaux

2 Attachments

Link: [1]File-List
Link: [2]themeData
Link: [3]colorSchemeMapping

[4]Ares(2020)4405392 - Reply to the GestDem document access request
registered 2020/4752

Sent by ve_fisma.c.3 (FISMA) <[email address]>. All responses have
to be sent to this email address.
Envoyé par ve_fisma.c.3 (FISMA) <[email address]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Mr Martin,

 

Further to your request for access to documents “concerning the
Commission’s withdrawing of civil liability from MIFID II while during
consultation it had called this measure essential” dated 6 August 2020.
The European Commission discloses the two documents in attachment
regarding the trilogue negotiations on the Commission proposal
“COM(2011)0656 (2011/0268(COD)”.

 

 

Kind regards,

 

Tilman LUEDER

European Commission

DG Financial Stability, Financial Services and Capital Markets Union

FISMA C3 – Securities markets

 

GestDem document access request 2020/4752 from MARTIN Steve.

Country: Spain
Responsible Directorate-General or service: FISMA
Language requested: English
Language English
(EN or FR) if the language requested is not available):

 

 

References

Visible links
1. file:///tmp/cid:filelist.xml@01D67AD8.833520B0
2. file:///tmp/~~themedata~~
3. file:///tmp/~~colorschememapping~~
4. https://webgate.ec.testa.eu/Ares/documen...

Dear Financial Stability, Financial Services and Capital Markets Union,

Many thanks for disclosing these two documents however on the critical question of the dropping of civil liability, the disclosed documents are silent.

Referring to in MiFID 4CT2A Arts 1 20 20140131 rev.pdf, Issue 384 lists as compromise:
"20131009 trilogue: agreed [...]"

It is the information contained in [...] that I seek!

But we now have a direct reference to the infromation - it is contained in the: 20131009 trilogue.

Kindly provide notes/minutes/records of the referred to 20131009 trilogue.

A full history of my request and all correspondence is available on the Internet at this address: https://www.asktheeu.org/en/request/drop...

Yours faithfully,

Steve Martin

ve_sg.accessdoc (SG), Stabilité financière, services financiers et union des marchés des capitaux

[1]Ares(2020)4426134 - RE: Internal review of access to documents request
- Dropping of civil liability from MiFID II

Sent by ve_sg.accessdoc (SG) <[DG FISMA request email]>. All responses have
to be sent to this email address.
Envoyé par ve_sg.accessdoc (SG) <[DG FISMA request email]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Sir,
      
Thank you for your email dated 25/08/2020 by which you request, pursuant
to Regulation No 1049/2001 regarding public access to European Parliament,
Council and Commission documents, a review of the position taken by DG
FISMA in reply to your initial application GESTDEM 2020/4752.

We hereby acknowledge receipt of your confirmatory application for access
to documents which was registered on 26/08/2020 (Ares(2020)4426086).

Your application will be handled within 15 working days (16/09/2020). In
case this time limit needs to be extended, you will be informed in due
course.

Please be informed that the answer to your confirmatory application is a
formal Commission decision that will be notified to you by express
delivery. Thank you for providing your contact phone number, so that the
external delivery service can contact you in case of absence.

Please note that the Commission will not use your phone number for any
other purpose than for informing the delivery service, and that it will
delete it immediately thereafter.

Yours faithfully,

Access to documents team (RC)

Afficher les sections citées

Stabilité financière, services financiers et union des marchés des capitaux

Dear Sir,

 

Please be informed that your new initial request for access to documents
dated 25/08/2020 (see below) has been registered by error as a
confirmatory request.

 

We apologize for this error.

 

Please be also informed that this initial request will be registered as a
new initial request and attributed to DG FISMA.

 

Yours faithfully,

Access to documents team (RC)

From: ve_sg.accessdoc (SG) <[DG FISMA request email]>
Sent: Wednesday, August 26, 2020 9:40 AM
To: Steve Martin <[FOI #8428 email]>
Subject: Ares(2020)4426134 - RE: Internal review of access to documents
request - Dropping of civil liability from MiFID II

 

[1]Ares(2020)4426134 - RE: Internal review of access to documents request
- Dropping of civil liability from MiFID II

 

Sent by ve_sg.accessdoc (SG) <[2][DG FISMA request email]>. All responses
have to be sent to this email address.

Envoyé par ve_sg.accessdoc (SG) <[3][DG FISMA request email]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Sir,
      
Thank you for your email dated 25/08/2020 by which you request, pursuant
to Regulation No 1049/2001 regarding public access to European Parliament,
Council and Commission documents, a review of the position taken by DG
FISMA in reply to your initial application GESTDEM 2020/4752.

We hereby acknowledge receipt of your confirmatory application for access
to documents which was registered on 26/08/2020 (Ares(2020)4426086).

Your application will be handled within 15 working days (16/09/2020). In
case this time limit needs to be extended, you will be informed in due
course.

Please be informed that the answer to your confirmatory application is a
formal Commission decision that will be notified to you by express
delivery. Thank you for providing your contact phone number, so that the
external delivery service can contact you in case of absence.

Please note that the Commission will not use your phone number for any
other purpose than for informing the delivery service, and that it will
delete it immediately thereafter.

Yours faithfully,

Access to documents team (RC)

Afficher les sections citées

ve_sg.accessdoc (SG), Stabilité financière, services financiers et union des marchés des capitaux

[1]Ares(2020)4501596 - RE: Internal review of access to documents request
- Dropping of civil liability from MiFID II ---- Ref. Gestdem 2020/5142

Sent by ve_sg.accessdoc (SG) <[DG FISMA request email]>. All responses have
to be sent to this email address.
Envoyé par ve_sg.accessdoc (SG) <[DG FISMA request email]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Sir,

Thank you for your e-mail of 25/08/2020. We hereby acknowledge receipt of
your application for access to documents, which was registered on
31/08/2020 under reference number GESTDEM 2020/5142.

In accordance with Regulation (EC) No 1049/2001 regarding public access to
European Parliament, Council and Commission documents, your application
will be handled within 15 working days.

The time limit will expire on 21/09/2020. In case this time limit needs to
be extended, you will be informed in due course.

You have lodged your application via a private third-party website, which
has no link with any institution of the European Union.
Therefore, the European Commission cannot be held accountable for any
technical issues or problems linked to the use of this system.

Please note that the private third party running the AsktheEU.org website
is responsible and accountable for the processing of your personal data
via that website, and not the Commission.
For further information on your rights, please refer to the third party’s
privacy policy.

We understand that the third party running the AsktheEU.org website
usually publishes the content of applicants’ correspondence with the
Commission on that website. This includes the personal data that you may
have communicated to the Commission (e.g. your private postal address).

Similarly, the third party publishes on that website any reply that the
Commission will send to the email address of the applicants generated by
the AsktheEU.org website.

If you do not wish that your correspondence with the Commission is
published on a private third-party website such as AsktheEU.org, you can
provide us with an alternative, private e-mail address for further
correspondence. In that case, the Commission will send all future
electronic correspondence addressed to you only to that private address,
and it will use only that private address to reply to your request. You
should still remain responsible to inform the private third-party website
about this change of how you wish to communicate with, and receive a reply
from, the Commission.

For information on how we process your personal data visit our page
Privacy statement – access to documents.

Yours faithfully,
Access to Documents Team (rc)

Afficher les sections citées

ve_fisma.c.3 (FISMA), Stabilité financière, services financiers et union des marchés des capitaux

1 Attachment

[1]Ares(2020)4564229 - Reply to the access to documents registered as
GESTDEM 2020/5142 - Dropping of civil liability from MiFID II

Sent by ve_fisma.c.3 (FISMA) <[email address]>. All responses have
to be sent to this email address.
Envoyé par ve_fisma.c.3 (FISMA) <[email address]>. Toutes les
réponses doivent être effectuées à cette adresse électronique.

Dear Mr Martin,

Further to your request for access to documents registered as GESTDEM
2020/ 5142 dated 25 August 2020, please find the minutes of the 20131009
political trilogue attached.

Kind regards,

Tilman LUEDER
European Commission
DG Financial Stability, Financial Services and Capital Markets Union
FISMA C3 – Securities markets

Afficher les sections citées