natgillin/translations-raw huggingface dataset:
Et investeringsselskab skal, såfremt det ligger inde med finansielle instrumenter tilhørende kunder, træffe fyldestgørende foranstaltninger med henblik på at beskytte disses ejendomsret, bl.a. i tilfælde af investeringsselskabets insolvens, og for at forhindre anvendelse af kundernes finansielle instrumenter for egen regning, medmindre kunderne har givet deres udtrykkelige samtykke hertil.
An investment firm shall, when holding financial instruments belonging to clients, make adequate arrangements so as to safeguard clients" ownership rights, especially in the event of the investment firm's insolvency, and to prevent the use of a client's instruments on own account except with the client's express consent.
Et investeringsselskab skal, når det ligger inde med midler tilhørende kunder, træffe fyldestgørende foranstaltninger med henblik på at beskytte kundernes rettigheder og, medmindre der er tale om kreditinstitutter, forhindre anvendelse af kundernes midler for egen regning.
An investment firm shall, when holding funds belonging to clients, make adequate arrangements to safeguard the clients" rights and, except in the case of credit institutions, prevent the use of client funds for its own account.
I tilfælde af filialer af investeringsselskaber skal den kompetente myndighed i den medlemsstat, hvor filialen er beliggende, håndhæve de stk. 7 fastsatte forpligtelser med hensyn til filialens transaktioner, uden at dette berører den mulighed, den kompetente myndighed i investeringsselskabets hjemland har for at få direkte adgang til listerne.
In the case of branches of investment firms, the competent authority of the Member State in which the branch is located shall, without prejudice to the possibility of the competent authority of the home Member State of the investment firm to have direct access to those records, enforce the obligation laid down in paragraph 7 with regard to transactions undertaken by the branch.
Kommissionen efter fremgangsmåden i
adopt, in accordance with the procedure referred to in
høje principper, der bør ligge til grund for de
high-level principles which should underlie the
og procedurer, der sikrer loyal og korrekt handel, og opstiller objektive kriterier for den effektive udførelse af ordrer
and procedures for fair and orderly trading and establish objective criteria for the efficient execution of orders
ved at tage hensyn til, hvem brugere af systemet er, og hvilken type instrumenter, der handles.
, taking into account the nature of the users of the system and the type of instruments traded on it.
Disse regler
Those rules
og procedurer skal forhåndsgodkendes af den kompetente myndighed i hjemlandet
and procedures shall be subject to prior approval by the competent authority of the home Member State
, og der skal tages hensyn til hver enkelt MHF's særlige karakter.
and shall take into account the particular nature of each MTF.
Hvis investeringsselskaber, der driver en MHF, påtager sig en del af ansvaret for afviklingen af disse transaktioner, sikrer den kompetente myndighed, at selskaberne har indført de nødvendige ordninger for at lette den effektive afvikling.
If investment firms operating an MTF assume part of the responsibility for the settlement of those transactions, the competent authority shall ensure that they have put in place the necessary arrangements to facilitate efficient settlement.
Når et værdipapir, der er optaget til handel på et reguleret marked, også handles på en MHF uden udstederens samtykke, påhviler der ikke udstederen nogen forpligtelse til hverken indledningsvis, løbende eller på ad hoc-basis at videregive finansielle oplysninger til denne MHF.
Where a transferable security, which has been admitted to trading on a regulated market, is also traded on an MTF without the consent of the issuer, the issuer shall not be subject to any obligation relating to initial, ongoing or ad hoc financial disclosure with regard to that MTF.
Medlemsstaterne sikrer, at investeringsselskaber, der driver en MHF, straks efterkommer eventuelle instrukser i henhold til
Member States shall ensure that any investment firm operating an MTF complies immediately with any instruction from its competent authority pursuant to
artikel 47, stk. 1
Article 47(1)
, fra deres kompetente myndighed om at suspendere handelen med et finansielt instrument eller fjerne dette instrument fra handelen.
to suspend or remove a financial instrument from trading.
artikel 60, stk. 2
Article 60(2)
Medlemstaterne underretter Kommissionen om alle generelle vanskeligheder, som deres investeringsselskaber har mødt i forbindelse med etablering eller ydelse af investeringsservice i et tredjeland.
The Member States shall inform the Commission of any general difficulties which their investment firms encounter in establishing themselves or providing investment services in any third country.
Hvis Kommissionen på grundlag af andre oplysninger end dem, der forelægges den i henhold til stk. 1, konstaterer, at et tredjeland ikke giver EF-investeringsselskaber en faktisk markedsadgang svarende til den, Fællesskabet giver investeringsselskaber fra dette tredjeland, kan den forelægge Rådet forslag til et passende forhandlingsmandat med henblik på at opnå tilsvarende konkurrencevilkår for EF-investeringsselskaber.
Whenever it appears to the Commission, on the basis of information submitted to it under paragraph 1, that a third country does not grant Community investment firms effective market access comparable to that granted by the Community to investment firms from that third country, the Commission may submit proposals to the Council for an appropriate mandate for negotiation with a view to obtaining comparable competitive opportunities for Community investment firms.
, beslutte at forlænge disse foranstaltninger.
to extend these measures.
Hvis Kommissionen konstaterer et af de i stk. 2 og 3 nævnte forhold, skal medlemsstaterne efter anmodning fra Kommissionen underrette denne om:
Whenever it appears to the Commission that one of the situations referred to in paragraphs 2 and 3 obtains, the Member States shall inform it at its request:
om meddelelse af tilladelse til et direkte eller indirekte datterselskab af et eller flere moderselskaber, som henhører under det pågældende tredjelands ret
of any firm which is the direct or indirect subsidiary of a parent undertaking governed by the law of the third country in question;
Disse oplysninger vil ikke længere blive krævet, når der er indgået aftale med det pågældende tredjeland, eller når de i stk. 3,
That obligation to provide information shall lapse whenever agreement is reached with the third country concerned or when the measures referred to in the
første og andet afsnit
first and second subparagraphs
, nævnte foranstaltninger ikke længere finder anvendelse.
of paragraph 3 cease to apply.
Foranstaltninger, der træffes i medfør af denne artikel, skal være i overensstemmelse med Fællesskabets forpligtelser i henhold til internationale - såvel bilaterale som multilaterale - aftaler om adgang til at påbegynde og udøve virksomhed som investeringsselskab.
Measures taken under this Article shall comply with the Community's obligations under any international agreements, bilateral or multilateral, governing the taking up or pursuit of the business of investment firms.
DRIFTSVILKÅR FOR INVESTERINGSSELSKABER
OPERATING CONDITIONS FOR INVESTMENT FIRMS
Medlemsstaterne kræver, at investeringsselskaber
Member States shall require investment firms
eller deres eksterne revisor
or their external auditor
giver de kompetente myndigheder meddelelse om enhver væsentlig ændring i deres driftsplaner
to notify the competent authorities of any material changes to their programme of operations
de oplysninger, de kompetente myndigheder har behov for til at kontrollere, at eventuelt ændrede organisatoriske krav er tilstrækkelige til at sikre fortsat opfyldelse af forpligtelserne i henhold til dette direktiv.
with all information needed to verify that modified organisational requirements are sufficient to ensure continued compliance with the obligations under this Directive.
Medlemsstaterne sikrer, at de kompetente myndigheder overvåger investeringsselskabets virksomhed for at kunne vurdere, om selskabet opfylder de driftsvilkår, der er fastsat i dette kapitel, og de øvrige forpligtelser i henhold til dette direktiv.
Member States shall ensure that the competent authorities monitor the activities of investment firms so as to assess compliance with the operating conditions provided for in this Chapter and other obligations under this Directive.
Medlemsstaterne sikrer, at de kompetente myndigheder modtager de oplysninger, der er nødvendige for at vurdere, om investeringsselskabet opfylder disse forpligtelser.
Member States shall ensure that the competent authorities obtain the information needed to assess the compliance of investment firms with those obligations.
I tilfælde af investeringsselskaber, der alene yder investeringsrådgivning, kan den kompetente myndighed henlægge den løbende overvågning af opfyldelsen af driftsmæssige og organisatoriske krav til en institution, der opfylder betingelserne i
In the case of investment firms which provide only investment advice, the competent authority may delegate the function of regular monitoring of operational and organisational requirements to a body meeting the requirements set out in
artikel 46, stk. 2
Article 46(2).
Medlemsstaterne kræver, at investeringsselskaber træffer alle rimelige forholdsregler for at kunne påvise interessekonflikter mellem selskaberne selv, herunder deres ledere og ansatte, og selskabernes kunder, eller mellem kunderne indbyrdes, som opstår ved udførelsen af investeringsservice og accessoriske tjenesteydelser eller kombinationer heraf.
Member States shall require investment firms to take all reasonable steps to identify conflicts of interest between themselves, including their managers and employees, and their clients or between one client and another that arise in the course of providing any investment and ancillary services, or combinations thereof.
Medlemsstaterne kræver, at investeringsselskaber, hvis virksomhed giver anledning til interessekonflikter, opretholder og følger effektive arbejdsgange og administrative procedurer for at forhindre disse konflikter i at skade kunders interesser eller på anden måde styrer konflikterne, således at det samme resultat opnås.
Member States shall require that investment firms whose activities give rise to conflicts of interest maintain and operate effective organisational and administrative arrangements to prevent those conflicts from adversely affecting the interests of clients, or otherwise manage them so as to achieve the same result.
Hvis de arbejdsgange eller administrative procedurer, der er indført af investeringsselskabet for at styre interessekonflikter, ikke er tilstrækkelige til med rimelig sikkerhed at kunne sikre, at risikoen for at skade kunders interesser faktisk vil blive undgået, skal investeringsselskabet klart oplyse kunden om interessekonflikternes generelle karakter og/eller kilderne til interessekonflikterne, før det påtager sig opgaver for kundens regning.
Where organisational or administrative arrangements made by the investment firm to manage conflicts of interest are not sufficient to ensure, with reasonable confidence, that risks of damage to client interests will be effectively avoided, the investment firm shall clearly disclose the general nature and/or sources of conflicts of interest to the client before undertaking business on its behalf.
For at tage hensyn til den tekniske udvikling på de finansielle markeder og sikre
In order to take account of technical developments on financial markets and to ensure
anvendelse af
application of paragraphs 1
stk. 1 og 2 kan
and 2, the
de forholdsregler, investeringsselskaber med rimelighed kan forventes at træffe for at påvise, forhindre, styre og/eller oplyse om interessekonflikter, når de udfører forskellige former for investeringsservice og accessoriske tjenesteydelser eller kombinationer heraf
the steps that investment firms might reasonably be expected to take to identify, prevent, manage and/or disclose conflicts of interest when providing various investment and ancillary services and combinations thereof,
løse konflikter, der opstår på grund af en tilskyndelse udefra eller en egeninteresse, der opstår, når en investeringsservice ydes, og som kan bringe kvaliteten eller lovligheden af en beslægtet investeringsservice, der ydes en kunde eller for en kundes regning, i fare.
address conflicts that arise from any inducement that is received or self-interest that arises in connection with the performance of an investment service which may compromise the quality or fairness of a related investment service that is performed on behalf of or provided to a client.
Den kompetente myndighed i hjemlandet sikrer, at investeringsselskaber, når disse præsterer tjenesteydelser i andre medlemsstater, opfylder forpligtelserne i denne artikel og de gennemførelsesbestemmelser, der er vedtaget i henhold til stk. 4.
The competent authority of the home Member State shall ensure that the obligations of this provision and the implementing measures adopted under paragraph 4 are complied with by investment firms when providing services in other Member States.
Den kompetente myndighed i den medlemsstat, hvor en filial er beliggende, håndhæver forpligtelserne i denne artikel og alle gennemførelsesbestemmelser, der er vedtaget i henhold til stk. 4, for de tjenesteydelser, som en filial yder sine kunder.
The competent authority of the Member State in which a branch is located shall enforce the obligations of this provision and any implementing measures adopted under paragraph 4 in respect of the services provided by a branch to its clients.
Medlemsstaterne kræver, at investeringsselskaber under hensyntagen til arten af den pågældende investeringsservice altid overholder bestemmelserne i direktiv 93/6/EØF.
The Member States shall require that investment firms comply at all times with the rules laid down in Directive 93/6/EEC, having regard to the nature of the investment service in question.
Medlemsstaterne sikrer, at et investeringsselskab, når det yder kunder investeringsservice
Member States shall ensure that, when providing investment services
, handler loyalt, korrekt og professionelt i sine kunders bedste interesse og især opfylder de i stk. 2-8 fastsatte principper.
to clients, an investment firm acts honestly, fairly and professionally in accordance with the best interests of its clients and complies, in particular, with the principles set out in paragraphs 2 to 8.
sendes til kunder eller potentielle kunder, skal fremstå som sådant og være korrekt, klart og ikke-vildledende.
to clients or potential clients shall be identified as such and shall be fair, clear and not misleading.
Oplysninger til kunder kan gives i form af standardoplysninger.
Information may be provided to clients in a standard form.
Investeringsselskabet skal udbede sig de nødvendige oplysninger hos kunderne om disses investeringsviden og -erfaring, investeringsmål og finansielle stilling, således at investeringsselskabet er i stand til at afgøre, hvilken investeringsservice og hvilke finansielle instrumenter der egner sig for disse kunder.
The necessary information shall be obtained from the client regarding its knowledge and experience in the investment field, its investment objectives and financial situation so as to enable the investment firm to determine the investment services and financial instruments suitable for that client.
Denne forpligtelse afpasses efter, hvor kompleks investeringsservicen er, og de finansielle instrumenter, der foreslås, og finder ikke anvendelse, når der ikke ydes investeringsrådgivning, jf. artikel 3, stk. 1, nr. 4.
These obligations shall be modulated according to the complexity of the investment services and financial instruments being proposed and shall not apply where investment advice, as referred to in Article 3(1)(4), is not being provided.
I forbindelse med rådgivning og tjenesteydelser baseret på skøn
When providing advice or discretionary services,
skal kunderne skal have fyldestgørende vejledning og advarsler om risiciene ved investeringer i særlige
appropriate guidance and warnings on the risks associated with investments in particular
former for
types of
de oplysninger, selskabet har fået om
the information which the firm has obtained about
kundernes viden og erfaringer.
the client's knowledge and experience.
Aftaler mellem investeringsselskabet og kunden skal nedfældes i et dokument med angivelse af parternes rettigheder og forpligtelser samt de øvrige betingelser, som gælder for selskabets tjenesteydelser til kunden.
A documentary record of an agreement between the firm and the client shall be established which sets out the rights and obligations of the parties and the other terms on which the firm will provide services to the client.
En aftale kan også nedfældes i et standarddokument.
A documentary record of an agreement may also be made in a standardised format.
Kunden modtager en ordrebekræftelse og en afregningsnota.
The client shall receive an order confirmation and a settlement note.
Afregningsnotaen indeholder
The settlement note shall include
For at sikre den nødvendige investorbeskyttelse og
In order to ensure the necessary protection of investors and the
anvendelse af stk. 1-8 vedtager Kommissionen efter fremgangsmåden i
application of paragraphs 1 to 8 the Commission shall adopt, in accordance with the procedure referred to in
, gennemførelsesbestemmelser, der sikrer, at investeringsselskaberne overholder principperne i stk. 1-8, når de leverer investeringsservice eller accessoriske tjenesteydelser til deres kunder.
implementing measures to ensure that investment firms comply with the principles set out therein when providing investment or ancillary services to their clients.
arten af den service og de tjenesteydelser, der tilbydes eller leveres til kunden eller den potentielle kunde, herunder de særlige procedurer og systemer, investeringsselskaberne anvender, når de udfører ordrer for kunders regning
the nature of the service(s) offered or provided to the client or potential client, including the particular procedures and systems which investment firms use to execute orders on behalf of clients;
arten af de finansielle instrumenter, der tilbydes eller overvejes
the nature of the financial instruments being offered or considered;
om kunden eller de potentielle kunder er private eller professionelle investorer
the retail or professional nature of the client or potential clients
, herunder relevante bestemmelser om gældende lovgivning for klassificering af eksisterende kunder, som giver tilstrækkelig fleksibilitet for investeringsselskaberne, når de foretager den klassificering, der er fastsat i bilag II.
including adequate grandfathering provisions for the categorisation of existing clients and leaving a sufficient degree of flexibility for investment firms when implementing the categorisation set out in Annex II.
, at et investeringsselskab, der
an investment firm receiving
et andet investeringsselskab modtager instrukser om at udføre investeringsservice eller accessoriske tjenesteydelser for en
an instruction to perform investment or ancillary services on behalf of a client
af dette andet investeringsselskabs
of that other
og at det ikke er forpligtet til at indhente oplysninger om den pågældende kunde i det andet investeringsselskab.
and is not obliged to seek information about the client of that other investment firm.
Den kompetente myndighed i hjemlandet sikrer, at investeringsselskaber, når disse præsterer tjenesteydelser i andre medlemsstater, opfylder forpligtelserne i denne bestemmelse og de gennemførelsesbestemmelser, der er vedtaget i henhold til stk. 9.
The competent authority of the home Member State shall ensure that the obligations of this provision and the implementing measures adopted under paragraph 9 are complied with by investment firms when providing services in other Member States.
Den kompetente myndighed i den medlemsstat, hvor en filial er beliggende, skal håndhæve de i stk. 1-8 nævnte forpligtelser samt de gennemførelsesbestemmelser, der vedtages i medfør af stk. 9, hvad angår filialens tjenesteydelser til sine kunder.
The competent authority of the Member State in which a branch is located shall enforce the obligations referred to in paragraphs 1 to 8 and the implementation measures adopted pursuant to paragraph 9 in respect of the services provided by a branch to its clients.
Medlemsstaterne kræver, at investeringsselskaber, der præsterer tjenesteydelser, som
Member States shall require that investment firms providing services which entail the
indebærer udførelse af kundeordrer
execution of
vedrørende finansielle instrumenter,
client orders in financial instruments
sørger for, at der etableres ordninger, der
are responsible for making arrangements designed to
sikrer, at disse ordrer udføres på en sådan måde, at kunden
ensure that those orders are executed in such a way that the client obtains the
Udførelsesstrategien skal dække kurs, omkostninger, hurtighed og sandsynlighed for, at ordren bliver udført, og de handelssystemer, selskabet har adgang til.
The execution policy shall cover price, costs, speed and likelihood of execution and the execution venues to which the firm has access.
Kravene i stk. 1 tager hensyn til størrelsen og typen af ordren, og om det er en professionel eller ikke-professionel kunde.
The requirements imposed under paragraph 1 shall take into account the size and type of order and the professional or non-professional nature of the client.
lette udførelsen af kundeordrer
facilitating execution of client orders
i overensstemmelse med stk. 1
in accordance with paragraph 1.
ud fra en rimelig betragtning bedste
best result reasonably achievable
resultat i betragtning af
having regard to the
betingelserne for ordren og
conditions of the order, and the
de gældende markedsforhold på et marked, som et investeringsselskab med rimelighed kan forventes at have adgang til
conditions prevailing in the marketplace to which the investment firm can reasonably be expected to have access
i henhold til betingelserne for udførelsesstrategien.
under the terms of the execution policy.
Medlemsstaterne kræver, at investeringsselskaber regelmæssigt gennemgår
Member States shall require investment firms to review, on a regular basis,
deres handelssystemer og i givet fald ændrer dem
their execution arrangements and, where appropriate, make changes to them so as
for at opnå det for deres kunder
to obtain the
, gennemførelsesbestemmelser vedrørende:
adopt implementing measures concerning:
de faktorer, der kan tages i betragtning ved afgørelsen af, hvad der er "best execution" eller ved beregningen af den bedste nettokurs på markedet i forhold til ordrens størrelse og art samt kundetype
the factors that may be taken into account for determining best execution or the calculation of best net price prevailing in the marketplace for the size and type of order and type of client
de procedurer, der i betragtning af omfanget af forskellige investeringsselskabers transaktioner kan anses for at udgøre et rimeligt og effektivt middel til at få adgang til de handelssystemer, der tilbyder markedets gunstigste ordreudførelsesbetingelser.
the procedures which, taking into account the scale of operations of different investment firms, may be considered as constituting reasonable and effective methods of obtaining access to the execution venues which offer the most favourable terms of execution in the marketplace.
Den kompetente myndighed i hjemlandet sikrer, at investeringsselskaber, når disse præsterer tjenesteydelser i andre medlemsstater, opfylder forpligtelserne i denne artikel og de gennemførelsesbestemmelser, der er vedtaget i henhold til stk. 5.
The competent authority of the home Member State shall ensure that the obligations of this provision and the implementing measures adopted under paragraph 5 are complied with by investment firms when providing services in other Member States.