natgillin/translations-raw huggingface dataset:
Formidling af fonde er sammenlignet med selskaber inden for investeringsservice, der er reguleret i henhold til ISD, karakteriseret ved atypisk handel og distributionskanaler, som det ikke er muligt at regulere ved hjælp af ISD.
In comparison with investment service firms regulated by the ISD, fund intermediation is characterised by atypical trading and distribution structures which do not lend themselves to regulation by the ISD.
Hvis formidlingsaktiviteter medtages i det foreslåede ISD, vil det medføre urimelige krav, som ville være en byrde for de berørte virksomheder, da reguleringen fokuserer på markedshandel.
The inclusion of intermediation activities into the scope of the proposed ISD would result in unjustified requirements which would be burdensome on the affected companies since the regulation's focus is on market trading.
En reguleringsordning for formidling af fonde bør imidlertid fokusere på distributionstjenester.
A regulation system for fund intermediation, however, should focus on distribution services.
Ændringsforslag 18 Artikel 3, stk. 1, nr. 1
Amendment 18 Article 3, paragraph 1, point (1)
(1) Investeringsselskab: en juridisk person, hvis sædvanlige erhverv eller virksomhed består i at yde investeringsservice på erhvervsmæssigt grundlag.
(1) Investment firm means any legal person whose regular occupation or business is the provision of investment services on a professional basis;
(1) Investeringsselskab : en juridisk person, hvis sædvanlige erhverv eller virksomhed består i at yde tredjemand investeringsservice på erhvervsmæssigt grundlag.
(1) Investment firm means any legal person whose regular occupation or business is the provision of investment services on a professional basis to third parties ;
Direktivforslaget har til formål at omfatte enheder, hvis erhverv er at yde tredjemand investeringsservice.
The proposed Directive is intended to cover entities whose business is the provision of investment services to third parties.
Erfaringen med visse nationale reguleringsordninger viser, at det er nødvendigt at præcisere ordlyden for tydeligt at begrænse anvendelsesområdet til enheder, som faktisk yder tredjemand service.
However, the experience with some domestic regulatory regimes shows that some clarification to the proposed wording is required in this respect to clearly limit the scope of applicability to entities that actually provide services to third parties.
Dette vil også bidrage til at præcisere begrebet "handel for egen regning", som anvendes i undtagelserne i artikel 2, stk. 1, litra h og litra i.
This would also help to clarify the concept of 'dealing on own account', used in exemptions 2(1)(h) and (i).
Ændringsforslag 19 Artikel 3, stk. 1, nr. 2
Amendment 19 Article 3, paragraph 1, point (2)
(2) Investeringsservice: de i afsnit A i bilag I anførte tjenesteydelser i forbindelse med de instrumenter, der er angivet i afsnit C i bilag I
(2) Investment service means any of the services listed in Section A of Annex I relating to any of the instruments listed in Section C of Annex I;
(2) Investeringsservice: de i afsnit A i bilag I anførte tjenesteydelser , der yder tredjemand, i forbindelse med de instrumenter, der er angivet i afsnit C i bilag I
(2) Investment service means any of the services , provided for third parties, listed in Section A of Annex I relating to any of the instruments listed in Section C of Annex I;
Ændringsforslag 128 (Karas/Radwan/Bourlanges) bør støttes for at præcisere, at definitionen af "investeringsservice" vedrører tjenesteydelser, der ydes tredjemand.
Amendment 128 (Karas/Radwan/Bourlanges) should be supported in order to clarify that the definition of "investment service" relates to services provided for third parties.
Ændringsforslag 20 Artikel 3, stk. 1, nr. 5
Amendment 20 Article 3, paragraph 1, point (5)
(5) Udførelse af ordrer for kunders regning: optræden som formidler ved indgåelse af aftaler om køb eller salg for kunders regning af et eller flere finansielle instrumenter
(5) Execution of orders on behalf of clients means acting as an agent to conclude agreements to buy or sell one or more financial instruments on behalf of clients ;
(5) Udførelse af ordrer for kunders regning: optræden som formidler ved indgåelse af aftaler om køb eller salg for kunders regning af et eller flere finansielle instrumenter herunder optræden for kunders regning for at indgå transaktioner med finansielle instrumenter på et reguleret marked eller en multilateral handelsfacilitet eller et tilsvarende system i et tredjeland, hvor virksomheden optræder som ejer som følge af markedets eller systemets regler
(5) Execution of orders on behalf of clients means acting as an agent to conclude agreements to buy or sell one or more financial instruments on behalf of clients, including acting on behalf of clients to conclude transactions in financial instruments on a regulated market or multilateral trading facility, or any comparable third country system, where the firm acts as principal by virtue of the rules of that market or system ;
Ændringsforslag 130 (Katiforis) bør vedtages for at præcisere, at definitionen af "udførelse af ordrer for kunders regning" omfatter optræden på vegne af kunder, hvor selskabet optræder som en ejer, når det udfører transaktioner på børsen, selv når selskabet optræder på vegne af kunder, som ikke er medlemmer af denne børs.
Amendment 130 (Katiforis) should be adopted in order to clarify that the definition of "execution of orders on behalf of clients" includes acting on behalf of clients where the firm acts as a principal in executing transactions on the exchange, even where the firm is acting on behalf of clients which are not members of that exchange.
Ændringsforslag 21 Artikel 3, stk. 1, nr. 6
Amendment 21 Article 3, paragraph 1, point (6)
(6) Handel for egen regning: aktiv og regelmæssig handel over egenbeholdningen på et erhvervsmæssigt grundlag, som resulterer i transaktioner med et eller flere finansielle instrumenter
(6) Dealing on own account means active trading against proprietary capital, on a regular and professional basis, resulting in the conclusion of transactions in one or more financial instruments;
(6) Handel for egen regning: aktiv og regelmæssig handel over egenbeholdningen på et erhvervsmæssigt grundlag, som resulterer i transaktioner med et eller flere finansielle instrumenter og som ikke er baseret på en tidligere anmodning eller et mandat fra en tredjemand
(6) Dealing on own account means active trading against proprietary capital, on a regular and professional basis, resulting in the conclusion of transactions in one or more financial instruments and not based on a previous request or a mandate of a third party;
Erfaringen med visse nationale reguleringsordninger viser, at det er nødvendigt at præcisere ordlyden for tydeligt at begrænse anvendelsesområdet til enheder, som faktisk yder tredjemand tjenesteydelser.
However, experience with some domestic regulatory regimes shows that some clarification to the proposed wording is required in this respect to clearly limit the scope of applicability to entities that actually provide services to third parties.
Ændringsforslag 22 Artikel 3, stk. 1, nr. 7
Amendment 22 Article 3, paragraph 1, point (7)
(7) Kunde: en fysisk eller juridisk person, der ønsker at købe investeringsservice og accessoriske tjenesteydelser af et investeringsselskab
(7) Client means any natural or legal person seeking the provision of investment and ancillary services from an investment firm ;
(7) Kunde: en fysisk eller juridisk person, som et investeringsselskab yder investeringsservice eller accessoriske tjenesteydelser
(7) Client means any natural or legal person to whom an investment firm provides investment or ancillary services ;
Formålet er at præcisere definitionen, for at det er muligt at fastslå, hvorvidt en person er en kunde eller ej.
The aim is to make the definition clearer so that is possible to tell whether a person is a client or not.
Ændringsforslag 23 Artikel 3, stk. 1, nr. 8
Amendment 23 Article 3, paragraph 1, point (8)
(8) Professionel kunde: en kunde, der besidder den fornødne erfaring, viden og ekspertise til at træffe sine egne investeringsbeslutninger og foretage en korrekt vurdering af risiciene i forbindelse hermed, jf. de i bilag II fastlagte kriterier og procedurer ;
(8) Professional client means a client who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs, in accordance with the criteria and procedures laid down in Annex II;
(8) Professionel kunde: en kunde, der falder ind under de i bilag II fastlagte kriterier og procedurer; Privat kunde : en ikke-professionel kunde
(8) Professional client means a client falling within the criteria and procedures laid down in Annex II and retail client means a client who is not a professional client.
Dette ændringsforslag er nødvendigt for at gøre det klart, at det nye EU-regelsæt afløser det traditionelle, allerede eksisterende civilretlige ansvar.
This amendment is necessary to make clear that the new EU framework supersedes traditional pre-existing civil liability.
Uden en sådan præcisering kunne investeringsselskaber i Tyskland blive pålagt dobbelt regulering, hvor de gamle bestemmelser undergraver sondringen i ISD mellem professionelle og private investorer.
Without such clarification, investment firms in countries such as Germany could be subject to a double layer of regulation, with the old case-based rules undermining the distinction drawn in the ISD between professional and retail investors.
Jf. ændringsforslag til bilag II, del I, punkt 1.
See amendment to Annex II, Section I, paragraph 1.
Ændringsforslaget giver ligeledes en definition på ”privat kunde”.
This amendment also provides a definition of "retail client".
Kommissionens forslag indeholder ikke en sådan definition, selv om udtrykket anvendes i direktivet (f.eks. i artikel 18, stk. 9).
In the Commission proposal there is no such definition, despite the use of the term in the directive (for example in Article 18.9).
Ændringsforslag 24 Artikel 3, stk. 1, nr. 9
Amendment 24 Article 3, paragraph 1, point (9)
(9) (9) Markedsoperatør: en eller flere personer, der faktisk leder et reguleret markeds forretninger
(9) Market operator means a person or persons who effectively direct the business of a regulated market;
(9) Markedsoperatør : en juridisk eller flere personer, der faktisk leder et reguleret markeds forretninger
(9) Market operator means a legal person or persons who effectively direct the business of a regulated market;
Dette ændringsforslag er nødvendigt for at præcisere, at når begrebet markedsoperatør anvendes i ISD, henviser det til selskabet og ikke til de fysiske personer, som leder det.
This amendment is necessary to clarify that when the notion of market operator is used in the ISD, it refers to the company and not to the physical persons who manage it.
Ændringsforslag 25 Artikel 3, stk. 1, nr. 11
Amendment 25 Article 3, paragraph 1, point (11)
(11) Multilateral handelsfacilitet (MHF) : et multilateralt system, der – inden for systemet og efter faste regler – sammenbringer forskellige tredjeparters interesser i at købe og sælge finansielle instrumenter, således at der indgås en kontrakt
(11) Multilateral Trading Facility (MTF) Means a multilateral system which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract;
(11) Multilateral handelsfacilitet (MHF) : et multilateralt system, der – inden for systemet og efter faste regler og handelsmetoder – sammenbringer forskellige tredjeparters interesser i at købe og sælge finansielle instrumenter, således at der indgås en kontrakt , og der er i besiddelse af tilladelse og arbejder i overensstemmelse med bestemmelserne i afsnit II
(11 ) Multilateral Trading Facility (MTF) means a multilateral system which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules and trading methodologies – in a way that results in a contract and which is authorised and functions in accordance with the provisions of Title II;
Dette kompromis dækker indholdet af ændringsforslag 144 (Balfe) og 145 (Huhne).
This compromise covers Amendment 144 (Balfe) and 145 (Huhne).
Kommissionen anvender ordet "regler", hvilket bør suppleres af begrebet "handelsmetoder" for at afspejle, at MHF'er har kunder og kontrakter inden for en regelbaseret ramme.
The Commission use of the word "rules" should be supplemented by the term "trading methodologies" to reflect the fact that MTFs have clients and contracts, within a rule based framework.
Kompromiset skaber også klarhed ved at sammenkæde definitionen af MHF'er med forslagets krav om tilladelse i forslagets afsnit II, kapitel I.
The compromise also provides clarification by linking the definition of MTF to the authorisation requirement in Title II, Chapter I of the proposal.
Ændringsforslag 26 Artikel 3, stk. 1, nr. 12
Amendment 26 Article 3, paragraph 1, point (12)
(12) Ordre til markedspris : en ordre til køb eller salg af et finansielt instrument til bedst opnåelig kurs
(12) Market order means an order to buy or sell a financial instrument at the best available price;
(12) Ordre til markedspris : en ordre til køb eller salg af et finansielt instrument til bedst opnåelig kurs for en specificeret størrelse
(12) Market order means an order to buy or sell a financial instrument at the best available price for a specified size ;
Der er behov for en yderligere specificering, da størrelse er en afgørende faktor i forbindelse med en ordre til markedspris.
Additional specification is required, since size is a vital component of a market order.
Ændringsforslag 27 Artikel 3, stk. 1, nr. 13
Amendment 27 Article 3, paragraph 1, point (13)
(13) Limiteret ordre: en ordre til køb eller salg af et finansielt instrument til den angivne maksimum- eller minimumkurs eller til en bedre kurs
(13) Limit order means an order to buy or sell a financial instrument at its specified limit or better.
(13) Limiteret ordre: en ordre til køb eller salg af et finansielt instrument til den angivne maksimum- eller minimumkurs eller til en bedre kurs for en specificeret størrelse og uden andre betingelser
(13) Limit order means an order to buy or sell a financial instrument at its specified limit or better for a specified size and without other conditions attached.
Der er behov for en yderligere specificering, da størrelse er en afgørende faktor i forbindelse med en limiteret ordre.
Additional specification is required, since size is a vital component of a limit order.
Hvis der var tilknyttet andre betingelser, ville dette grundlæggende ændre arten af ordren, og den ville ikke længere blive betragtet som en limiteret ordre.
If there were to be other conditions attached, this would fundamentally change the nature of the order and it would no longer be regarded as a limit order.
Ændringsforslag 28 Artikel 3, stk. 1, nr. 15, litra b
Amendment 28 Article 3, paragraph 1, point (15), point (b)
(b) obligationer og andre gældsinstrumenter
(b) bonds or other forms of securitised debt
(b) obligationer og andre gældsinstrumenter og obligationsbeviser
(b) bonds or other forms of securitised debt, and depositary receipts in respect of bonds .
Formålet med dette ændringsforslag er at bringe definitionen på obligationer på linie med definitionen på aktier i artikel 3, stk. 1, nr. 15, litra a, som refererer til beviser.
The purpose of this amendment is to bring the definition of bonds in line with the definition of shares in Article 3, paragraph 1, point (15), point (a) which refers to depository receipts.
Det er vigtigt, at der er konsistens mellem definitionerne.
It is essential to have consistency between definitions.
Ændringsforslag 29 Artikel 3, stk. 1, nr. 17, litra b
Amendment 29 Article 3, paragraph 1, point (17) subpoint (b)
(b) for et reguleret marked: den medlemsstat, hvor det vedtægtsmæssige hjemsted for det regulerede marked er beliggende, eller, hvis der ifølge denne medlemsstats nationale lovgivning ikke findes noget vedtægtsmæssigt hjemsted, den medlemsstat, hvor det regulerede markeds hovedkontor er beliggende
(b) in the case of a regulated market , the Member State in which the regulated market is registered or, if under the law of that Member State it has no registered office, the Member State in which the head office of the regulated market is situated;
(b) for en operatør af et reguleret marked: den medlemsstat, hvor det vedtægtsmæssige hjemsted for markedsoperatøren er beliggende, eller, hvis der ifølge denne medlemsstats nationale lovgivning ikke findes noget vedtægtsmæssigt hjemsted, den medlemsstat, hvor markedsoperatørens hovedkontor er beliggende
(b) in the case of the operator of a regulated market, the Member State in which the market operator is registered or, if under the law of that Member State it has no registered office, the Member State in which the head office of the market operator is situated;
(c) for et reguleret marked: den medlemsstat, der udsteder tilladelsen som et reguleret marked
(c) in the case of a regulated market, the Member State granting the authorisation as a regulated market;
(i) Det er det regulerede markeds operatører, der skal rette sig efter direktivet, og ikke det regulerede marked selv.
(i) It is the operators of the regulated market who have to comply with the directive, not the regulated markets themselves.
Begrebet "reguleret marked" henviser til et system eller en funktion, der drives af en markedsoperatør frem for enheden i sig selv.
The term 'regulated market' refers to a system or function run by a market operator rather than to an entity in itself.
Begrebet "operator af et reguleret marked" bør derfor i denne forbindelse anvendes frem for "reguleret marked".
The term 'operator of regulated market' rather than to the 'regulated market' should therefore be used in this context.
Da regulerede markeder hverken er registrerede (som f.eks. virksomheder) eller har hovedkontorer, er det mere hensigtsmæssigt at henvise til markedsoperatørens hjemlands hovedkontor/registrerede kontor. (ii) Det er nødvendigt at definere markedsoperatørens hjemland, navnlig for at kunne anvende artikel 34, stk. 5.
Since regulated markets themselves are neither registered (as companies) nor have head offices, it is more appropriate to refer to the home member state of the head/registered office of the market operator. (ii) It is necessary to define the Home Member State of market operators notably to allow the application of Article 34(5).
Ændringsforslag 30 Artikel 3, stk. 1, nr. 18
Amendment 30 Article 3, paragraph 1, point (18)
(18) Værtsland: den medlemsstat, hvor et investeringsselskab har en filial eller præsterer tjenesteydelser
(18) Host Member State means the Member State in which an investment firm has a branch or provides services;
(a) for investeringsselskaber: den medlemsstat , hvor investeringsselskabet har en filial eller præsterer tjenesteydelser
(a) in the case of investment firms, the Member State in which the investment firm has a branch or provides services;
(b) for en operatør af et reguleret marked: den medlemsstat, som ikke er hjemlandet, og hvor markedsoperatøren driver et reguleret marked eller præsterer tjenesteydelser
(b) in the case of the operator of a regulated market, the Member State other than the home Member State where the market operator operates a regulated market or provides services;
Ændringsforslaget præciserer teksten for at sikre, at det er tydeligt, hvilken medlemsstat, der har beføjelser i forbindelse med regulerede markeder i dette tilfælde.
This amendment clarifies the text to ensure this it is clear which Member State has competence in relation to regulated markets in this context.
Ændringsforslag 31 Artikel 3, stk. 1, nr. 22
Amendment 31 Article 3, paragraph 1, point (22)
(22) Fuldmægtig: en fysisk eller juridisk person, som uden selv at være anset for et investeringsselskab i dette direktivs forstand over for kunder eller potentielle kunder fremmer et investeringsselskabs investeringsservice og accessoriske tjenesteydelser, modtager og videregiver kundens instrukser eller ordrer vedrørende investeringsservice eller finansielle instrumenter til selskabet og rådgiver kunder eller potentielle kunder om de finansielle instrumenter eller tjenesteydelser, som tilbydes af det investeringsselskab , for hvis regning vedkommende handler, idet rådgivningen sker under dette selskabs fulde og hele ansvar
(22) Tied agent means a natural or legal person who, without being considered as an investment firm for the purposes of this Directive, promotes the investment and ancillary services of an investment firm to clients or prospective clients, collects and transmits instructions or orders from the client in respect of investment services or financial instruments to that investment firm , and provides advice to clients or prospective clients in respect of the financial instruments or services offered by the investment firm under the full and unconditional responsibility of the investment firm on whose behalf it acts;
(22) Fuldmægtig: en fysisk eller juridisk person, som uden selv at være anset for et investeringsselskab i dette direktivs forstand over for kunder eller potentielle kunder fremmer investeringsservice og accessoriske tjenesteydelser fra investeringsselskaber, på hvis vegne den optræder , modtager og videregiver kundens instrukser eller ordrer vedrørende investeringsservice eller finansielle instrumenter til selskaberne og rådgiver kunder eller potentielle kunder om de finansielle instrumenter eller tjenesteydelser, som tilbydes af de investeringsselskaber , for hvis regning vedkommende handler, idet rådgivningen sker under disse selskabers fulde og hele ansvar
(22) Tied agent means a natural or legal person who, without being considered as an investment firm for the purposes of this Directive, promotes the investment and ancillary services of the investment firms for which it acts to clients or prospective clients, collects and transmits instructions or orders from the client in respect of investment services or financial instruments to those investment firms , and provides advice to clients or prospective clients in respect of the financial instruments or services offered by those investment firms under the full and unconditional responsibility of the investment firms on whose behalf it acts;
Dette ændringsforslag præciserer ordlyden på en sådan måde, at fuldmægtige kan optræde på vegne af mere end en ejer.
This amendment clarifies the wording so that tied agents may act on behalf of more than one principal.
Det er en stigende trend i en række medlemsstater, at fuldmægtige har distributionsaftaler med flere forskellige fondsudbydere i stedet for blot at optræde på vegne af en enkelt ejer.
It is an increasing trend in a number of Member States for agents to have distribution agreements with several different fund providers, rather than acting on behalf of just one principal.
Artiklen bør præciseres for at sikre, at denne praksis kan fortsætte i henhold til det reviderede ISD.
The article should be clarified to ensure that this practice can continue under the revised ISD.
Ændringsforslag 32 Artikel 3, stk. 1, nr. 23
Amendment 32 Article 3, paragraph 1, point (23)
(23) Filial: en afdeling, som retligt udgør en ikke-selvstændig del af et investeringsselskab, og som yder investeringsservice af den art, som investeringsselskabet har fået tilladelse til
(23) Branch means a place of business which is a part of an investment firm, which has no legal personality and which provides investment services for which the investment firm has been authorised;
(23) Filial: en afdeling, som ikke er hovedkontoret, som retligt udgør en ikke-selvstændig del af et investeringsselskab, og som yder investeringsservice eller accessoriske tjenesteydelser af den art, som investeringsselskabet har fået tilladelse til
(23) Branch means a place of business, other than the head office, which is part of an investment firm, which has no legal personality and which provides investment services or ancillary services for which the investment firm has been authorised;