natgillin/translations-raw huggingface dataset:
d) fondsbestemmelser eller vedtægter for hver AIF, FAIF har til hensigt at forvalte
(d) the fund rules or instruments of incorporation of each AIF the AIFM intends to manage;
e) oplysninger om aftaler vedrørende uddelegering til tredjemand af forvaltningsydelser som omhandlet i artikel 18 og i givet fald artikel 35
(e) information on arrangements made for the delegation to third parties of management services functions as referred to in Article 18 and where applicable Article 35;
f) oplysning om aftaler vedrørende opbevaring af AIF's aktiver, i givet fald herunder aftaler indgået i henhold til artikel 38
(f) information on the arrangements made for the safe-keeping of the assets of AIF, including, where applicable, arrangements made under Article 38;
g) for hver AIF, FAIF forvalter eller har til hensigt at forvalte: eventuelle andre oplysninger, der er nævnt i artikel 20, stk. 1.
(g) for each AIF the AIFM manages or intends to manage, any additional information referred to in Article 20(1).
En FAIF skal have sit hovedkontor i den medlemsstat, hvor den har sit vedtægtsmæssige hjemsted.
The AIFM shall have its head office in the same Member State as its registered office.
Centralt register
Central register
ESMA fører et centralt offentligt register over de kompetente tilsynsmyndigheder for de enkelte FAIF.
ESMA shall keep a central public register identifying the competent supervisory authority for each AIFM.
Registret skal være tilgængeligt i elektronisk format.
The register shall be made available in electronic format .
Betingelser for meddelelse af tilladelse
Conditions for granting the authorisation
De kompetente myndigheder i hjemlandet meddeler kun tilladelse, hvis de er overbeviste om, at FAIF vil være i stand til at opfylde betingelserne i dette direktiv.
The competent authorities of the home Member State shall grant authorisation only if they are satisfied that the AIFM will be able to fulfil the conditions of this Directive.
Den kompetente myndighed giver ikke en selvforvaltende AIF tilladelse, medmindre ledelsen eller bestyrelsesmedlemmerne i AIF har et tilstrækkeligt godt omdømme samt fyldestgørende erfaring i forbindelse med den type forretninger, som AIF udfører, for at sikre, at kravene i dette direktiv opfyldes.
The competent authority shall not grant authorisation to a self-managed AIF unless the directors, or members of the governing body, of the AIF are of sufficiently good repute and sufficiently experienced, in relation to the type of business carried out by the AIF, to ensure that the requirements of this Directive are complied with.
De kompetente myndigheder i FAIF's hjemland kan konsultere ESMA, hvis der er problemer.
The competent authorities of the home Member State may consult ESMA if there are difficulties.
Tilladelsen gælder i alle medlemsstater.
The authorisation shall be valid for all Member States.
De kompetente myndigheder i hjemlandet afslår at meddele tilladelse, hvis de hindres i effektiv varetagelse af deres tilsynsopgaver på grund af:
The competent authorities of the home Member State shall refuse authorisation where the effective exercise of their supervisory functions is prevented by any of the following:
a) love eller administrative bestemmelser i et tredjeland, der gælder for en eller flere fysiske eller juridiske personer, som FAIF har snævre forbindelser med, jf. artikel 4, stk. 31, i direktiv 2004/39/EF
(a) the law, regulations or administrative provisions of a third country governing one or more natural or legal persons with which the AIFM has close links as defined in Article 4(31)of Directive 2004/39/EC;
b) vanskeligheder med at håndhæve disse love og administrative bestemmelser.
(b) difficulties relating to the enforcement of that law and those regulations and administrative provisions.
Tilladelsen omfatter eventuelle aftaler om uddelegering af opgaver, som FAIF har indgået og anført i ansøgningen.
The authorisation shall cover any delegation arrangements made by the AIFM and communicated in the application.
De kompetente myndigheder i hjemlandet kan begrænse tilladelsens omfang, navnlig hvad angår den type AIF, som FAIF kan forvalte, samt delegeringsaftalerne.
The competent authorities of the home Member State may restrict the scope of the authorisation, in particular as regards the type of AIF the AIFM is allowed to manage, as well as the delegation arrangements.
Opmærksomheden koncentreres især om risikoklassificeringen for den AIF, som FAIF har tilladelse til forvalte.
Particular attention shall be paid to the risk classific a tion of the AIF which the AIFM is authorised to manage.
Inden tre måneder efter indgivelsen af en fyldestgørende ansøgning underretter de kompetente myndigheder skriftligt ansøgeren om, hvorvidt tilladelse er givet eller ej.
The competent authorities shall inform the applicant in writing , within three months of the submission of a complete application, whether or not authorisation has been granted.
Hvis de kompetente myndigheder ikke underretter ansøgeren skriftligt, anses tilladelsen for nægtet uden begrundelse.
If the competent authorities do not inform the applicant in writing, the authorisation shall be deemed rejected without a justification.
Så snart tilladelsen foreligger, kan FAIF begynde at levere forvaltningsydelser i hjemlandet.
AIFM may start providing management services in the home Member State as soon as the authorisation is granted.
Med forbehold af artikel 18 sikrer medlemsstaterne, at enhver AIF, der er omfattet af dette direktiv, har en enkelt FAIF, som er ansvarlig for overholdelse af direktivets bestemmelser .
Without prejudice to Article 18, Member States shall ensure that AIF falling under the scope of this Directive shall have a single AIFM which shall be responsible for compliance with the requirements of this Directive.
De kompetente myndigheder underretter på kvartalsbasis og i konsolideret form ESMA om de tilladelser, der er blevet givet eller nægtet, samt om eventuelle betingelser for, ændringer af rækkevidden af og inddragelse af tilladelser i henhold til denne artikel og artikel 7 og 8.
The competent authorities shall inform ESMA, on a quarterly basis and in a consolidated form, of authorisations granted and rejected and in relation to any conditions, changes in scope and withdrawal of authorisations in accordance with this Article and Articles 7 and 8.
Artikel 7 Ændringer i tilladelsens omfang
Article 7 Changes in the scope of the authorisation
FAIF underretter forud for gennemførelsen de kompetente myndigheder i hjemlandet om eventuelle væsentlige ændringer af de betingelser , på hvilke tilladelsen oprindeligt er blevet givet, navnlig væsentlige ændringer i FAIF's aktivitetsprogram, om de forvaltede AIF's investeringsstrategi og -politik, om disses fondsbestemmelser eller vedtægter og om identiteten af eventuelle yderligere AIF, som FAIF ønsker at forvalte.
AIFM shall, before implementation, notify the competent authorities of the home Member State of any material changes to the conditions under which the initial authorisation has been granted, in particular material changes in the programme of activity of the AIFM, of the investment strategy and policy of any AIF managed by it, of the AIF rules or instruments of incorporation and the identity of any further AIF the AIFM intends to manage.
Inden for en måned efter modtagelsen af underretningen herom godkender, begrænser eller afviser de kompetente myndigheder disse ændringer.
The competent authorities shall, within a month of receipt of that notification, either approve, or impose restrictions, or reject those changes.
Artikel 8 Inddragelse af tilladelsen
Article 8 Withdrawal of the authorisation
Den kompetente myndighed kan trække en FAIF's tilladelse tilbage, hvis denne:
The competent authorities may withdraw the authorisation issued to an AIFM where that AIFM:
1) har opnået tilladelse ved brug af urigtige erklæringer eller på anden uretmæssig vis
(1) has obtained the authorisation by making false statements or by any other unlawful means;
2) ikke længere opfylder de betingelser, på hvilke tilladelsen blev meddelt
(2) no longer fulfils the conditions under which authorisation was granted;
3) har gjort sig skyldig i alvorlig og systematisk overtrædelse af bestemmelserne til gennemførelse af dette direktiv.
(3) has seriously or systematically infringed the provisions transposing this Directive.
Vilkår for drift af FAIF
Operating conditions for AIFM
AFDELING 1: GOD FORRETNINGSSKIK
SECTION 1: CONDUCT OF BUSINESS
En FAIF sikrer, at dens aflønningspolitik er forenelig med de bestemmelser, der finder anvendelse på kreditinstitutter og investeringsselskaber.
An AIFM shall ensure that its remuneration policies are compatible with the rules applicable to credit institutions and investment firms.
Medlemsstaterne kræver, at FAIF udarbejder aflønningspolitikker og -praksisser, som opfylder kravene i bilag 1b og er i overensstemmelse med og fremmer en forsvarlig og effektiv risikostyring, ikke tilskynder til at tage for store risici, modvirker kortsigtede profitmotiver, er forenelige med risikoprofilerne, fondsbestemmelserne eller vedtægterne for den forvaltede AIF og er i overensstemmelse med FAIF's og investorernes forretningsmål og langsigtede interesser.
Member States shall require AIFM to set up and implement remuneration policies and practices that comply with the requirements set out in Annex 1b and are consistent with and promote sound and effective risk management, that do not encourage excessive risk-taking, that counter short-term profit motives, that are consistent with the risk profiles, fund rules or instruments of incorporation of the AIF they manage, and that are in line with the business objectives and the long- term interests of the AIFM and investors.
Disse politikker og praksisser skal være omfattende og rimelige i forhold til arten, omfanget og kompleksiteten af FAIF's aktiviteter og til de forvaltede AIF.
Those policies and practices shall be comprehensive and proportionate to the nature, scale and complexity of the AIFM’s activities and to the AIF it manages.
FAIF underretter de kompetente myndigheder om arten af deres aflønningspolitikker og -praksisser.
The AIFM shall inform the competent authorities about the characteristics of its remuneration policies and practices.
De kompetente myndigheder kan træffe hensigtsmæssige korrigerende foranstaltninger for at opveje risici, der kan resultere i, at det ikke lykkes for FAIF at gennemføre forsvarlige aflønningspolitikker og –praksisser.
The competent authorities may take appropriate corrective measures to offset risks that could result in the failure of an AIFM to implement sound remuneration policies and practices.
Medlemsstaterne sikrer, at FAIF kun kan levere forvaltningsydelser inden for Unionen , hvis de til enhver tid overholder bestemmelserne i dette direktiv.
Member States shall ensure that AIFM ▌ provide their management services within the Union only if they comply with the provisions of this Directive on an ongoing basis.
FAIF skal
The AIFM shall:
a) under udøvelsen af deres virksomhed handle ærligt og redeligt og med den fornødne kompetence og omhu
(a) act honestly, with due skill, care and diligence and fairly in conducting its activities;
b) bedst muligt varetage interesserne for de AIF, de forvalter, og investorerne i disse AIF og sikre markedets integritet samt
(b) act in the best interests of the AIF it manages, the investors in those AIF and the integrity of the market; and
c) sikre, at alle AIF-investorer behandles retfærdigt.
(c) ensure that all AIF investors are treated fairly.
Ingen investor kan gives præferencer, medmindre det er angivet i AIF's fondsbestemmelser eller vedtægter.
No investor may obtain a preferential treatment, unless this is disclosed in the AIF rules or instruments of incorporation.
Kommissionen vedtager delegerede retsakter i henhold til artikel 49a, 49b og 49 c , som indeholder de kriterier, som de kompetente myndigheder skal anvende til at vurdere, om FAIF opfylder deres forpligtelser i stk. 1.
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c specifying the criteria to be used by the competent authorities to assess whether AIFM comply with their obligation under paragraph 1.
Kommissionen vedtager delegerede retsakter i henhold til artikel 49a, 49b og 49c til præcisering af de principper, der er beskrevet i bilag Ib, og fastlægger retningslinjer for forsvarlige aflønningspolitikker efter høring af ESMA.
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c specifying the principles described in Annex Ib and set guidelines on sound remuneration policies after consultation of ESMA.
I retningslinjerne tages der også hensyn til de principper for forsvarlige aflønningspolitikker, som fremgår af Kommissionens henstilling af 30. april 2009 om aflønningspolitik i finanssektoren, og til størrelsen af FAIF og størrelsen af den forvaltede AIF samt deres interne organisation og arten, omfanget og kompleksiteten af deres aktiviteter.
The guidelines shall also take into account the principles on sound remuneration policies set out in the Commission Recommendation of 30 April 2009 on remuneration policies in the financial services sector and shall take into account the size of the AIFM and the size of AIF they manage, their internal organisation and the nature, the scope and the complexity of their activities.
Artikel 10 Interessekonflikter
Article 10 Conflicts of interest
Medlemsstaterne stiller krav om, at FAIF træffer alle rimelige forholdsregler til at kunne påvise interessekonflikter mellem FAIF, herunder deres ledere, ansatte eller enhver anden person, der direkte eller indirekte er forbundet med FAIF ved et kontrolforhold, og investorerne i AIF, der forvaltes af FAIF, eller mellem investorerne indbyrdes, som opstår ved forvaltningen af en eller flere AIF.
Member States shall require AIFM to take all reasonable steps to identify conflicts of interest between the AIFM, including their managers, employees or any person directly or indirectly linked to the AIFM by control, and the investors in AIF managed by the AIFM or between one investor and another that arise in the course of managing one or more AIF.
FAIF skal til stadighed have og anvende effektive organisatoriske og administrative ordninger med henblik på at træffe sådanne rimelige foranstaltninger, som måtte være nødvendige for at hindre interessekonflikter, der kan skade AIF og deres investorer.
AIFM shall maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps designed to prevent conflicts of interest from adversely affecting the interests of the AIF and its investors.
Inden for deres eget operative miljø opdeler FAIF opgaver og ansvarsområder, der kan betragtes som uforenelige.
AIFM shall segregate within its own operating environment, tasks and responsibilities which may be regarded as incompatible with each other.
FAIF foretager en vurdering af, om deres driftsvilkår kan give anledning til andre alvorlige interessekonflikter, og oplyser AIF's investorer herom.
AIFM shall assess whether its operating conditions may involve any other material conflicts of interest and disclose them to the AIF investors.
Hvis de organisatoriske ordninger, der er indført af FAIF for at styre interessekonflikter, ikke er tilstrækkelige til med rimelig sikkerhed at kunne sikre, at risikoen for at skade investorernes interesser vil blive undgået, skal FAIF klart oplyse investorerne om interessekonflikternes generelle karakter eller kilderne hertil, før de påtager sig opgaver på investorernes vegne, og udforme passende politikker og procedurer.
Where organisational arrangements made by the AIFM to manage conflicts of interest are not sufficient to ensure, with reasonable confidence, that risks of damage to investors' interests will be prevented, the AIFM shall clearly disclose the general nature or sources of conflicts of interest to the investors before undertaking business on their behalf, and develop appropriate policies and procedures.
Kommissionen vedtager delegerede retsakter i henhold til artikel 49a, 49b og 49c med henblik på:
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c :
a) at præcisere de forskellige typer interessekonflikter, som er omtalt i stk. 1
(a) further specifying the types of conflicts of interests as referred to in paragraph 1;
b) at præcisere de foranstaltninger, som FAIF med rimelighed kan forventes at træffe i form af interne og organisatoriske procedurer for at påvise, forhindre, styre og oplyse om interessekonflikter.
(b) specifying the reasonable steps AIFM are expected to take in terms of internal and organisational procedures in order to identify, prevent, manage and disclose conflicts of interest.
1 FAIF sikrer, at risikostyring og porteføljepleje er adskilte funktioner, og at de underkastes to særskilte kontrolforanstaltninger.
1 ▌ AIFM shall ensure that the functions of risk management and portfolio management are separated and subject to separate reviews.
Såfremt FAIF anvender en prime broker, skal betingelserne fastlægges i en skriftlig aftale.
Where AIFM use the services of a prime broker, the terms shall be set out in a written contract.
Denne aftale skal især omfatte eventuelle muligheder for overførsel og genanvendelse af AIF-aktiver i overensstemmelse med AIF-bestemmelserne.
In particular any possibility of transfer and reuse of AIF assets shall be provided for in that contract and shall comply with the AIF rules.
Det skal fastsættes i aftalen, at depositaren skal underrettes herom.
The contract shall provide that the depositary be informed of the contract.
Investorer skal informeres om denne bestemmelse i aftalen og om den anvendte prime broker's identitet, før de investerer i AIF.
Before investing in the AIF, investors shall be informed of that provision in the contract and of the identity of the prime broker.
Investorer skal især informeres om en eventuel overdragelse af ansvar til denne prime broker, herunder også i tilfælde af tab af finansielle instrumenter.
In particular investors shall be informed about the transfer of liability to the prime broker that may exist, including where there is loss of financial instruments.
I sådanne tilfælde skal fristen for tilbagelevering være i overensstemmelse med bestemmelserne i aftalen mellem FAIF og den anvendte prime broker.
In that case, the delay for restitution shall be in accordance with the terms of the contract between the AIFM and the prime broker.
FAIF skal udvise den fornødne kompetence og omhu ved udvælgelsen af den prime broker, med hvilken der skal indgås en aftale.
AIFM shall exercise due skill, care and diligence in the selection and appointment of prime brokers with whom a contract is to be concluded.
Hvis en FAIF praktiserer short selling ved investeringer på vegne af en eller flere AIF, skal medlemsstaterne sikre, at FAIF :
In the case of AIFM which engage in short selling when investing on behalf of one or more AIF, Member States shall ensure that the AIFM :
-a) er i besiddelse af eller har indgået en aftale om at låne de relevante værdipapirer eller andre finansielle instrumenter på tidspunktet for afgivelsen af ordren om short selling
(-a) is in possession of or entered into an agreement to borrow the relevant securities or other financial instruments at the time of the submission of the short sale order;
a) anvender procedurer, som giver adgang til værdipapirerne eller andre finansielle instrumenter på det tidspunkt, hvor FAIF skal levere dem
(a) operates procedures which provide it with access to the securities or other financial instruments at the date when the AIFM committed to deliver them;
b) anvender en risikostyringsprocedure, som på passende måde gør det muligt at styre de risici, der er forbundet med levering af short solgte værdipapirer eller andre finansielle instrumenter
(b) implements a risk management procedure which allows the risks associated with the delivery of short sold securities or other financial instruments to be adequately managed ;
c) regelmæssigt fremlægger oplysninger om væsentlige korte positioner for medlemsstaternes kompetente myndigheder.
(c) regularly discloses information on its significant short positions to the competent authorities.
I ekstreme markedssituationer kan medlemsstatens kompetente myndighed anmode FAIF om at indberette alle korte positioner og lånte værdipapirer.
In exceptional circumstances, the competent national authority may request AIFM to report all short positions and securities borrowed.
De enkelte kompetente myndigheder forsyner regelmæssigt ESMA med de oplysninger, de har modtaget i medfør af stk. 4, litra c).
Each competent authority shall regularly provide ESMA with the information provided to it under paragraph 4(c).
Under ekstraordinære omstændigheder og for at sikre det finansielle systems stabilitet og integritet kan ESMA på basis af disse eller andre relevante oplysninger indføre restriktioner for short selling-aktiviteter.
In exceptional circumstances or in order to ensure the stability and integrity of the financial system, on the basis of that or other relevant information, ESMA may restrict short selling activities.
Kommissionen vedtager delegerede retsakter i henhold til artikel 49a, 49b og 49c til yderligere præcisering af ▌:
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c further specifying ▌:
a) de risikostyringsregler, som FAIF skal anvende som en funktion af de risici, FAIF påtager sig på vegne af den forvaltede AIF
(a) the risk management requirements to be employed by AIFM as a function of the risks which the AIFM incurs on behalf of the AIF that it manages;
b) eventuelle ordninger, der måtte være nødvendige for at sætte FAIF i stand til at styre de særlige risici, der er forbundet med short selling, herunder eventuelle relevante restriktioner, som måtte være nødvendige for at beskytte AIF mod urimelige risici.
(b) any arrangements needed to enable AIFM to manage the particular risks associated with short selling transactions, including any relevant restrictions that might be needed to protect the AIF from undue risk exposures;
c) de særlige forhold, der gør sig gældende for den i stk. 4a omhandlede oplysningsordning.
(c) the specificities of the reporting regime referred to in paragraph 4a.
For hver forvaltet AIF anvender FAIF et passende likviditetsstyringssystem og indfører procedurer til sikring af, at likviditetsprofilen for AIF's investeringer stemmer overens med de underliggende forpligtelser.
For each AIF it manages the AIFM shall employ an appropriate liquidity management system and adopt procedures which ensure that the liquidity profile of the investments of the AIF complies with its underlying obligations .
FAIF foretager regelmæssigt stress-tests både under normale og ekstraordinære likviditetsforhold, og overvåger AIF's likviditetsrisiko i forbindelse hermed.
The AIFM shall regularly conduct stress tests, both under normal and exceptional liquidity conditions and monitor the liquidity risk of the AIF accordingly.
Resultaterne af disse stress-tests skal indberettes til de kompetente myndigheder.
The results of these stress tests need to be communicated to the competent authorities.
FAIF sikrer, at investeringsstrategien, likviditetsprofilen og indløsningspolitikken er konsekvent for hver af de forvaltede AIF .
AIFM shall ensure that, for each AIF it manages , the investment strategy, the liquidity profile and the redemption policy are consistent .
Kommissionen vedtager delegerede retsakter i henhold til artikel 49a, 49b og 49c til yderligere præcisering af ▌ likviditetsstyringskravene i stk. 1 ▌ .
The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c further specifying ▌ the liquidity management requirements set out in paragraph 1 ▌.
Investeringer i securitisationspositioner
Investment in securitisation positions