natgillin/translations-raw huggingface dataset:
For så vidt angår OTC-derivater bør der gælde yderligere risikospredningsregler for risici over for en enkelt modpart eller gruppe af modparter.
With regard to OTC derivatives, additional risk-spreading rules should apply to exposures to a single counterparty or group of counterparties.
Nogle porteføljeforvaltningsteknikker for institutter for kollektiv investering, der hovedsagelig investerer i aktiver eller gældsbeviser, er baseret på aktieindekser og/eller indekser for gældsbeviser.
Some portfolio management techniques for collective investment undertakings investing primarily in shares or debt securities are based on the replication of stock indices or debt-security indices.
Det er ønskeligt at give investeringsinstitutter mulighed for at anvende velkendte og anerkendte aktieindekser eller indekser for gældsbeviser.
It is desirable to permit UCITS to replicate well-known and recognised stock indices or debt-security indices.
Til dette formål kan det derfor være nødvendigt at indføre mere smidige risikospredningsregler for investeringsinstitutter, der investerer i aktier eller gældsbeviser.
It may therefore be necessary to introduce more flexible risk-spreading rules for UCITS investing in shares or debt securities to this end.
Institutter for kollektiv investering, der omfattes af dette direktiv, bør ikke benyttes til andre formål end kollektiv investering af kapital, der tilvejebringes ved henvendelse til offentligheden i overensstemmelse med reglerne i dette direktiv.
Collective investment undertakings falling within the scope of this Directive should not be used for purposes other than the collective investment of the capital raised from the public according to the rules laid down in this Directive.
I de tilfælde, der er omhandlet i dette direktiv, bør det kun være muligt for et investeringsinstitut at have datterselskaber, for så vidt det er nødvendigt for på dets egne vegne effektivt at udføre visse aktiviteter, der også er fastlagt i dette direktiv.
In the cases identified by this Directive, it should be possible for a UCITS to have subsidiaries only when necessary to pursue effectively, on its own behalf, certain activities, also defined in this Directive.
Det er nødvendigt at sikre effektivt tilsyn med investeringsinstitutter.
It is necessary to ensure effective supervision of UCITS.
Et investeringsinstitut bør derfor kun kunne oprette datterselskaber i tredjelande i de tilfælde og i overensstemmelse med de betingelser, der er nævnt i dette direktiv.
The establishment of a subsidiary of a UCITS in a third country should therefore be permitted only in the cases identified and in accordance with the conditions laid down in this Directive.
Den generelle forpligtelse til kun at handle i deltagernes interesse og specielt målsætningen om at øge omkostningseffektiviteten kan aldrig begrunde, at et investeringsinstitut træffer foranstaltninger, der kunne være til hinder for, at de kompetente myndigheder effektivt kan udøve deres tilsynsfunktioner.
The general obligation to act solely in the interests of unit-holders and, in particular, the objective of increasing cost efficiencies, never justify a UCITS undertaking measures that could hinder the competent authorities from effectively exercising their supervisory functions.
Den oprindelige version af direktiv 85/611/EØF indeholdt en undtagelse fra begrænsningen med hensyn til, hvor stor en procentdel af sine aktiver et investeringsinstitut måtte investere i værdipapirer udstedt af et og samme organ, som fandt anvendelse i forbindelse med obligationer udstedt eller garanteret af en medlemsstat.
The original version of Directive 85/611/EEC contained a derogation from the restriction on the percentage of its assets that a UCITS can invest in transferable securities issued by the same body, which applied in the case of bonds issued or guaranteed by a Member State.
Denne undtagelse gav investeringsinstitutterne tilladelse til bl.a. at investere op til 35 % af deres aktiver i sådanne obligationer.
That derogation allowed UCITS to invest, in particular, up to 35 % of their assets in such bonds.
En lignende, men mere begrænset undtagelse er berettiget for så vidt angår obligationer fra den private sektor, som, selv om der ikke foreligger en statsgaranti, giver investorerne en speciel sikkerhed på grund af de særlige regler, som finder anvendelse på dem.
A similar but more limited derogation is justified with regard to private sector bonds which, even in the absence of a State guarantee, offer special guarantees to the investor under the specific rules applicable thereto.
Undtagelsen bør derfor udvides til at omfatte alle obligationer fra den private sektor, der er i overensstemmelse med fælles fastsatte kriterier, idet det overlades til medlemsstaterne at udarbejde en fortegnelse over de obligationer, som de i givet fald agter at lade være omfattet af en undtagelsesbestemmelse.
It is necessary, therefore, to extend the derogation to the totality of private sector bonds which fulfil jointly fixed criteria, while leaving it to the Member States to draw up the list of bonds to which they intend, where appropriate, to grant a derogation.
Flere medlemsstater har gennemført bestemmelser, der sætter ikke-samordnede institutter for kollektiv investering i stand til at samle deres aktiver i et såkaldt »master-institut«.
Several Member States have enacted provisions that enable non-coordinated collective investment undertakings to pool their assets in one so-called master fund.
For at sætte investeringsinstitutter i stand til at udnytte disse strukturer er det nødvendigt at undtage feeder-institutter, der ønsker at samle deres aktiver i et master-institut, fra forbuddet mod at investere mere end 10 % af deres aktiver eller i visse tilfælde 20 % af deres aktiver i et enkelt institut for kollektiv investering.
In order to allow UCITS to make use of those structures, it is necessary to exempt feeder UCITS wishing to pool their assets in a master UCITS from the prohibition to invest more than 10 % of their assets or, as the case may be, 20 % of their assets in a single collective investment undertaking.
En sådan undtagelse er berettiget, eftersom feeder-instituttet investerer alle eller næsten alle sine aktiver i en diversificeret portefølje tilhørende masterinstituttet, der selv er omfattet af diversificeringsreglerne for investeringsinstitutter.
Such an exemption is justified as the feeder UCITS invests all or almost all of its assets into the diversified portfolio of the master UCITS, which itself is subject to UCITS diversification rules.
For at skabe bedre forudsætninger for et effektivt fungerende indre marked og sikre et ensartet investorbeskyttelsesniveau i hele Fællesskabet bør master-feeder-strukturer være tilladt, både når master- og feeder-instituttet er etableret i samme medlemsstat, og når de er etableret i forskellige medlemsstater.
In order to facilitate the effective operation of the internal market and to ensure the same level of investor protection throughout the Community, master-feeder structures should be allowed both where the master and the feeder are established in the same Member State and where they are established in different Member States.
For at gøre det muligt for investorer at danne sig et bedre overblik over master-feeder-strukturer og for myndighederne at føre bedre tilsyn med sådanne strukturer, navnlig i en grænseoverskridende situation, bør det ikke være muligt for et feeder-institut at investere i mere end et master-institut.
In order to allow investors better to understand master-feeder-structures and regulators to supervise them more easily, notably in a cross-border situation, no feeder UCITS should be able to invest into more than one master.
For at undgå en overdreven administrativ byrde bør bestemmelserne om anmeldelse af grænseoverskridende markedsføring ikke finde anvendelse, hvis et master-institut ikke rejser kapital fra offentligheden i en anden medlemsstat end den, hvori instituttet har hjemsted, men kun har et eller flere feeder-institutter i den anden medlemsstat.
In order to avoid an undue administrative burden, provisions on notification of cross-border marketing should not apply if a master UCITS does not raise capital from the public in a Member State other than that in which it is established, but has only one or more feeder UCITS in that other Member State.
Med det formål at beskytte investorerne i feeder-instituttet bør der stilles krav om, at feeder-instituttets investering i master-instituttet skal forhåndsgodkendes af de kompetente myndigheder i feeder-instituttets hjemland.
In order to protect the feeder UCITS’ investors, the feeder UCITS’ investment into the master UCITS should be subject to prior approval by the competent authorities of the feeder UCITS home Member State.
Kun den indledende investering i master-instituttet, hvorved feeder-instituttet overskrider den grænse, der finder anvendelse for investeringer i andre investeringsinstitutter, forudsætter godkendelse.
Only the initial investment into the master UCITS, by which the feeder UCITS exceeds the limit applicable for investing into another UCITS, requires approval.
For at skabe bedre forudsætninger for et effektivt fungerende indre marked og sikre et ensartet investorbeskyttelsesniveau i hele Fællesskabet bør de betingelser, som skal opfyldes, og de dokumenter og oplysninger, der skal tilvejebringes med henblik på godkendelse af feeder-instituttets investering i master-instituttet, være udtømmende.
In order to facilitate the effective operation of the internal market and to ensure the same level of investor protection throughout the Community, the conditions which must be met and the documents and information which are to be provided for approving the feeder UCITS’ investment into the master UCITS should be exhaustive.
For at sætte feeder-instituttet i stand til at handle i alle deltagernes bedste interesse og navnlig give det mulighed for at indhente alle de oplysninger og dokumenter fra master-instituttet, som det har behov for at kunne opfylde sine forpligtelser, bør feeder- og master-instituttet indgå en juridisk bindende aftale.
In order to allow the feeder UCITS to act in the best interests of its unit-holders and notably place it in a position to obtain from the master UCITS all information and documents necessary to perform its obligations, the feeder and the master UCITS should enter into a binding and enforceable agreement.
Hvis både feeder- og master-instituttet imidlertid administreres af det samme administrationsselskab, bør det være tilstrækkeligt, at sidstnævnte indfører interne regler om god forretningsskik.
If both feeder and master UCITS are managed by the same management company, however, it should be sufficient that the latter establish internal conduct of business rules.
Aftaler om informationsudveksling mellem feeder- og master-instituttets depositarer eller revisorer bør sikre, at feeder-instituttets depositar eller revisor modtager alle de oplysninger eller dokumenter, som er nødvendige for, at de kan udføre deres opgaver.
Information-sharing agreements between the depositaries or the auditors respectively of the feeder UCITS and the master UCITS should ensure the flow of information and documents that is needed for the feeder UCITS’ depositary or auditor to fulfil its duties.
Dette direktiv bør sikre, at depositarerne eller revisorerne i forbindelse med opfyldelsen af disse krav ikke anses at tilsidesætte bestemmelser om tavshedspligt eller om databeskyttelse.
This Directive should ensure that, when complying with those requirements, the depositaries or the auditors are not to be found in breach of any restriction on disclosure of information or of data protection.
For at sikre feeder-instituttets investorer en høj grad af beskyttelse bør prospektet, den centrale investorinformation samt alt markedsføringsmateriale tilpasses master-feeder-strukturernes særlige kendetegn.
In order to ensure a high level of protection of the interests of the feeder UCITS’ investors, the prospectus, the key investor information, as well as all marketing communications should be adapted to the specificities of master-feeder structures.
Deltagerne bør i henhold til dette direktiv beskyttes mod opkrævning af ubegrundede ekstraomkostninger igennem et forbud mod, at master-instituttet opkræver feeder-instituttet tegnings- og indløsningsgebyrer.
Under this Directive, unit-holders should be protected from being charged unjustified additional costs by a prohibition against master UCITS charging feeder UCITS subscription and redemption fees.
Master-instituttet bør dog kunne opkræve tegnings- og indløsningsgebyrer af andre investorer i masterinstituttet.
The master UCITS should, however, be able to charge subscription or redemption fees to other investors in the master UCITS.
Konverteringsreglerne bør gøre det muligt at konvertere et eksisterende investeringsinstitut til et feeder-institut.
The conversion rules should enable an existing UCITS to convert into a feeder UCITS.
Eftersom konvertering indebærer en gennemgribende ændring af investeringspolitikken, bør det investeringsinstitut, der konverteres, forpligtes til at forsyne deltagerne med alle de oplysninger, der er nødvendige for, at de kan tage stilling til, hvorvidt de vil beholde deres investering.
As conversion is a fundamental change of the investment policy, the converting UCITS should be required to provide its unit-holders with sufficient information in order to enable them to decide whether to maintain their investment.
De kompetente myndigheder bør ikke stille krav om, at feeder-instituttet tilvejebringer flere oplysninger end de i dette direktiv anførte.
The competent authorities should not require the feeder UCITS to provide more or information other than that specified in this Directive.
Hvis de kompetente myndigheder i master-instituttets hjemland underrettes om en uregelmæssighed i relation til master-instituttet eller får kendskab til, at master-instituttet ikke overholder dette direktivs bestemmelser, kan de i givet fald beslutte at træffe relevante foranstaltninger for at sikre, at deltagerne i master-instituttet underrettes behørigt.
Where the competent authorities of the master UCITS home Member State are informed of an irregularity with regard to the master UCITS or detect that the master UCITS does not comply with the provisions of this Directive, they may decide, where appropriate, to take relevant action to ensure that unit-holders of the master UCITS are informed accordingly.
Medlemsstaterne bør skelne klart mellem markedsføringsmateriale og den obligatoriske information, der i henhold til dette direktiv skal udleveres til investorer.
Member States should make a clear distinction between marketing communications and obligatory investor disclosures provided for under this Directive.
Sidstnævnte omfatter central investorinformation, prospektet samt års- og halvårsregnskaber.
Obligatory investor disclosure includes key investor information, the prospectus and annual and half-yearly reports.
Den centrale investorinformation bør udleveres gratis som et specifikt dokument til investorerne i god tid forud for tegningen af andele i et investeringsinstitut, således at de kan træffe en velfunderet investeringsbeslutning.
Key investor information should be provided as a specific document to investors, free of charge, in good time before the subscription of the UCITS, in order to help them to reach informed investment decisions.
Denne centrale investorinformation bør kun omfatte de oplysninger, der er væsentlige for en sådan beslutning.
Such key investor information should contain only the essential elements for making such decisions.
Den type oplysninger, den centrale investorinformation skal indeholde, bør fuldt ud harmoniseres for at sikre en tilstrækkelig grad af investorbeskyttelse og sammenlignelighed.
The nature of the information to be found in the key investor information should be fully harmonised so as to ensure adequate investor protection and comparability.
Et enkelt dokument af begrænset længde, hvori oplysningerne præsenteres i en bestemt rækkefølge, er den mest velegnede metode til at opnå den klarhed og simplicitet i præsentationen, som ikke-professionelle investorer kræver, og bør gøre det muligt at foretage nyttige sammenligninger, navnlig af omkostninger og risikoprofil, som er relevante for investeringsbeslutningen.
A single document of limited length presenting the information in a specified sequence is the most appropriate manner in which to achieve the clarity and simplicity of presentation that is required by retail investors, and should allow for useful comparisons, notably of costs and risk profile, relevant to the investment decision.
De enkelte medlemsstaters kompetente myndigheder kan gøre central investorinformation om alle investeringsinstitutter, der er godkendt i den pågældende medlemsstat, tilgængelig for offentligheden i et særligt afsnit af deres websted.
The competent authorities of each Member State may make available to the public, in a dedicated section of their website, key investor information concerning all UCITS authorised in that Member State.
Der bør udarbejdes central investorinformation for alle investeringsinstitutter.
Key investor information should be produced for all UCITS.
Det er administrationsselskabet eller i givet fald investeringsselskabet, der bør udlevere central investorinformation, i overensstemmelse med den anvendte afsætningsmetode (direkte salg eller salg gennem formidlere).
Management companies or, where applicable, investment companies should provide key investor information to the relevant entities, in accordance with the distribution method used (direct sales or intermediated sales).
Formidlere bør tilvejebringe central investorinformation til kunder og potentielle kunder.
Intermediaries should provide key investor information to clients and potential clients.
Investeringsinstitutter bør være berettigede til at markedsføre deres andele i andre medlemsstater betinget af en anmeldelsesprocedure baseret på en forbedret kommunikation mellem medlemsstaternes kompetente myndigheder.
UCITS should be able to market their units in other Member States subject to a notification procedure based on improved communication between the competent authorities of the Member States.
Når de kompetente myndigheder i investeringsinstituttets hjemland har fremsendt de komplette anmeldelsesdokumenter, bør investeringsinstituttets værtsland ikke have mulighed for at nægte et investeringsinstitut, der er etableret i en anden medlemsstat, adgang til sit marked eller for at anfægte den godkendelse, som den anden medlemsstat har givet.
Following transmission of a complete notification file by the competent authorities of the UCITS home Member State, it should not be possible for the UCITS host Member State to oppose access to its market by a UCITS established in another Member State or challenge the authorisation given by that other Member State.
Investeringsinstitutter bør være berettigede til at markedsføre deres andele betinget af, at de træffer de nødvendige foranstaltninger med henblik på at sikre, at der er faciliteter til stede, som muliggør betaling til deltagerne, tilbagekøb eller indløsning af andele og tilrådighedsstillelse af de oplysninger, som investeringsinstitutter er forpligtet til at tilvejebringe.
UCITS should be able to market their units subject to their taking the necessary measures to ensure that facilities are available for making payments to unit-holders, repurchasing or redeeming units and making available the information which UCITS are required to provide.
For at lette markedsføringen af andele i investeringsinstitutter på tværs af landegrænserne bør der føres kontrol med, at ordningerne for markedsføring af andele i investeringsinstitutter overholder de love og administrative procedurer, der gælder i investeringsinstituttets værtsland, efter at investeringsinstituttet har fået adgang til markedet i den pågældende medlemsstat.
In order to facilitate cross-border marketing of units of UCITS, control of compliance of arrangements made for marketing of units of UCITS with laws, regulations and administrative procedures applicable in the UCITS host Member State, should be performed after the UCITS has accessed the market of that Member State.
Denne kontrol kunne dække tilstrækkeligheden af ordningerne for markedsføring, herunder navnlig tilstrækkeligheden af salgsordninger, og forpligtelsen til at sikre, at markedsføringsmaterialet præsenteres på en fair, tydelig og ikke vildledende måde.
That control could cover the adequacy of arrangements made for marketing, in particular the adequacy of distribution arrangements and the obligation for marketing communications to be presented in a manner that is fair, clear and not misleading.
Dette direktiv bør ikke hindre de kompetente myndigheder i værtslandet i at kontrollere, at markedsføringsmateriale, der ikke omfatter central investorinformation, prospektet og års- og halvårsrapporter overholder den nationale lovgivning, før investeringsinstitutterne må anvende materialet, forudsat at en sådan kontrol er ikke-diskriminerende og ikke hindrer det pågældende investeringsinstitut i at få adgang til markedet.
This Directive should not prevent the competent authorities of the host Member State from verifying that marketing communications, not including key investor information, the prospectus and annual and half-yearly reports, comply with national law before the UCITS can use them, subject to such control being non-discriminatory and not preventing that UCITS from accessing the market.
Af hensyn til fremme af retssikkerheden er det nødvendigt at sikre, at et investeringsinstitut, der markedsfører sine andele på tværs af landegrænser, har let og elektronisk adgang og på et sprog, der er gængs i internationale finanskredse, til komplette oplysninger om de love og administrative bestemmelser, som specifikt gælder for de ordninger, som er fastlagt med hensyn til markedsføringen af andele af investeringsinstitutter i værtslandet.
For the purpose of enhancing legal certainty there is a need to ensure that a UCITS which markets its units on a cross-border basis has easy access, in the form of an electronic publication and in a language customary in the sphere of international finance, to complete information on the laws, regulations and administrative provisions applicable in the UCITS host Member State, which specifically relate to the arrangements made for marketing of units of UCITS.
Ansvar, der relaterer sig til sådanne offentliggørelser, bør omfattes af national ret.
Liabilities relating to such publications should be subject to national law.
For at lette investeringsinstitutters adgang til andre medlemsstaters markeder bør investeringsinstituttet være forpligtet til kun at oversætte den centrale investorinformation til det eller et af de officielle sprog i investeringsinstituttets værtsland eller til et sprog, der er godkendt af værtslandets kompetente myndigheder.
To facilitate access of UCITS to the markets of other Member States, the UCITS should be required to translate only the key investor information into the official language or one of the official languages of a UCITS host Member State or a language approved by its competent authorities.
Den centrale investorinformation bør indeholde nærmere oplysninger om, på hvilke(t) sprog de andre obligatoriske dokumenter og supplerende oplysninger foreligger.
Key investor information should specify the language(s) in which other obligatory disclosure documents and additional information are available.
Ansvaret for udarbejdelsen af oversættelser bør ligge hos investeringsinstituttet, der bør tage stilling til, om det er nødvendigt med en simpel eller en autoriseret oversættelse.
Translations should be produced under the responsibility of the UCITS, which should decide whether a simple or a sworn translation is necessary.
For at lette adgangen til andre medlemsstaters markeder er det vigtigt, at der gives oplysning om anmeldelsesgebyrer.
To facilitate the access to the markets of other Member States, it is important that notification fees are disclosed.