natgillin/translations-raw huggingface dataset:
I denne afgørelse forstås ved værdipapirtilsynsmyndighederne Alberta Securities Commission (»ASC«) i Alberta, Autorité des marchés financiers (»AMF«) i Québec, British Columbia Securities Commission (»BCSC«) i British Columbia, Manitoba Securities Commission (»MSC«) i Manitoba og Ontario Securities Commission (»OSC«) i Ontario.
For the purposes of this Decision, the securities regulators are the Alberta Securities Commission (ASC) in Alberta; the Autorité des marchés financiers (AMF) in Quebec; the British Columbia Securities Commission (BCSC) in British Columbia; the Manitoba Securities Commission (MSC) in Manitoba and the Ontario Securities Commission (OSC) in Ontario.
Værdipapirtilsynsmyndighederne arbejder sammen om at udvikle og gennemføre love og bestemmelser om værdipapirer og om at administrere, overvåge og håndhæve eksisterende love på en konsekvent og koordineret måde.
The securities regulators work cooperatively to develop and implement securities laws and regulations and to administer, monitor and enforce existing laws in a consistent and coordinated manner.
En CCP, der ønsker at drive forretning i én af de berørte provinser, skal have tilladelse til dette af værdipapirtilsynsmyndigheden i den pågældende provins.
A CCP seeking to carry out business in a relevant province must be authorised by the relevant securities regulator.
Denne tilladelse kan være enten en anerkendelse eller en fritagelse for anerkendelse.
That authorisation can take the form of either recognition or an exemption from recognition.
Anerkendelse indebærer fuld anvendelse af provinsens værdipapirordning.
Recognition implies the full application of the respective provincial securities regime.
CCP'er, der opererer i flere af de berørte provinser, skal godkendes som en anerkendt central modpart i mindst én provins og skal opfylde de strengeste af de krav, der gælder i de provinser, hvor de opererer.
CCPs operating in several of the relevant provinces have to be authorised as a recognised CCP at least in one province and are subject to the most stringent requirements amongst those applicable in the provinces in which they operate.
Almindeligvis fritages CCP'er, der er anerkendt i en anden provins, for anerkendelse, og de er derfor underlagt direkte tilsyn af værdipapirtilsynsmyndigheden i den provins, hvor de er anerkendt, forudsat at de ikke anses af den relevante værdipapirtilsynsmyndighed for at have systemisk betydning eller udgøre en betydelig risiko for kapitalmarkederne.
Exemption from recognition is generally provided to CCPs recognised in another province, and therefore subject to direct supervision by the securities regulator of the province where the CCP is recognised, provided they are not considered by the relevant securities regulator to be systemically important or to pose significant risk to the capital markets.
CCP'er, der er fritaget for anerkendelse, pålægges betingelser af værdipapirtilsynsmyndighederne, hvis de i de provinser, hvor de er anerkendt, skal leve op til mindre besværlige krav end i de provinser, hvor de er fritaget for anerkendelse.
Securities regulators impose conditions on CCPs exempted from recognition where those CCPs are subject in the provinces where they are recognised to less cumbersome requirements than in the provinces where they are exempted from recognition.
Canadas nationalbank kan også udpege CCP'er som systemisk vigtige, hvis de har potentiale til at udgøre en systemisk risiko for det finansielle system i Canada.
The Bank of Canada can also designate CCPs as systemically important where they have the potential to pose systemic risk to the Canadian financial system.
De retligt bindende krav, der gælder for CCP'er, som har tilladelse i Alberta, består af Securities Act (Alberta), de regler og bestemmelser, der er vedtaget i medfør af denne lov, samt enhver afgørelse eller instruks udstedt af ASC (i det følgende samlet benævnt »Albertas værdipapirlovgivning«).
The legally binding requirements applicable to CCPs authorised in Alberta consist of the Securities Act (Alberta), the rules and regulations adopted pursuant to it and any decision, direction or order made or issued by the ASC (hereinafter ‘Alberta securities laws’).
For at levere clearingydelser i Alberta skal en CCP godkendes af ASC enten som et anerkendt clearingagentur eller som et clearingagentur, der er fritaget for anerkendelse (»fritaget clearingagentur«).
In order to provide clearing services in Alberta, a CCP has to be authorised by the ASC either as a recognised clearing agency or as a clearing agency exempted from recognition (exempted clearing agency).
CCP'er, som har tilladelse i Alberta, skal overholde Albertas værdipapirlovgivning.
CCPs authorised in Alberta must comply with the Alberta securities laws.
Generelt godkender ASC de CCP'er som anerkendte clearingagenturer, som den finder det hensigtsmæssigt at føre tilsyn med.
In general, the ASC authorises CCPs as recognised clearing agencies where it considers it appropriate to subject them to its supervision.
ASC kan dog også benytte en anden værdipapirtilsynsmyndighed til at føre tilsyn med visse clearingagenturer, som er anerkendt i andre provinser.
However, the ASC may also rely on another securities regulator's supervision for some clearing houses recognised in other provinces.
ASC kan fastlægge betingelser for godkendelse af et clearingagentur, enten som et anerkendt clearingagentur eller som et fritaget clearingagentur.
The ASC can impose conditions and terms on the authorisation of a clearing agency, either as a recognised clearing agency or as an exempted clearing agency.
ASC har udstedt anerkendelsesafgørelser vedrørende alle CCP'er, som den har godkendt som anerkendte clearingagenturer, og disse afgørelser forpligter dem til at overholde de principper for infrastruktur på de finansielle markeder (»PFMI'er«), der blev udstedt i april 2012 af Udvalget om Betalings- og Clearingsystemer [2] og Den Internationale Børstilsynsorganisation.
The ASC has issued recognition orders in respect of all clearing agencies authorised by it as recognised clearing agencies, requiring them to comply with the Principles for Financial Markets Infrastructures (PFMIs) issued in April 2012 by the Committee on Payment and Settlement Systems [2] and the International Organization of Securities Commissions.
De retligt bindende krav, der gælder for CCP'er, som har tilladelse i British Columbia, består af Securities Act (British Columbia), de regler og bestemmelser, der er udstedt i medfør af denne lov, samt de afgørelser, der er udstedt af BCSC.
The legally binding requirements applicable to CCPs authorised in British Columbia consist of the Securities Act (British Columbia), the rules and regulations issued pursuant to it and the orders issued by the BCSC.
For at levere clearingydelser i British Columbia skal en CCP godkendes af BCSC enten som et anerkendt clearingagentur eller som et clearingagentur, der er fritaget for anerkendelse (»fritaget clearingagentur«), hvilket afhænger af en række faktorer, herunder effekten af clearingagenturets virksomhed i British Columbia.
In order to provide clearing services in British Columbia, a CCP has to be authorised by the BCSC either as a recognised clearing agency or as a clearing agency exempted from recognition (exempted clearing agency), which depends on a number of factors, including the impact of the operations of the clearing agency in British Columbia.
BCSC kan fastlægge betingelser for godkendelse af et clearingagentur, enten som et anerkendt clearingagentur eller som et fritaget clearingagentur.
The BCSC can impose conditions and terms on the authorisation of a clearing agency, either as a recognised clearing agency or as an exempted clearing agency.
BCSC har udstedt anerkendelsesafgørelser vedrørende alle clearingagenturer, som den har godkendt som anerkendte clearingagenturer, og disse afgørelser forpligter dem til at overholde PFMI'erne.
The BCSC has issued recognition orders in respect of all clearing agencies authorised by it as recognised clearing agencies requiring them to comply with the PFMIs.
De retligt bindende krav, der gælder for CCP'er, som har tilladelse i Manitoba, består af Commodity Futures Act (Manitoba), Securities Act (Manitoba) og de regler og afgørelser, der er udstedt af MSC i medfør af disse love.
The legally binding requirements applicable to CCPs authorised in Manitoba consist of the Commodity Futures Act (Manitoba), the Securities Act (Manitoba) and the rules and orders issued by MSC pursuant to them.
For at levere clearingydelser i Manitoba, skal en CCP godkendes af MSC enten som en anerkendt clearingcentral, hvis der er tale om råvarefutures, eller som et anerkendt clearingagentur i forbindelse med andre værdipapirer, eller som en clearingcentral eller et clearingagentur, der er fritaget for anerkendelse (»fritaget clearingagentur« eller »fritaget clearingcentral«).
In order to provide clearing services in Manitoba, a CCP has to be authorised by the MSC either as a recognised clearing house in respect of commodity futures, or as a recognised clearing agency in respect of other securities, or as a clearing house or clearing agency, respectively, exempted from recognition (exempted clearing agency or clearing house).
MSC kan fastlægge betingelser for godkendelse af et clearingagentur eller en clearingcentral, enten som et anerkendt clearingagentur eller en anerkendt clearingcentral eller som et fritaget clearingagentur eller en fritaget clearingcentral.
The MSC can impose conditions and terms to the authorisation of a clearing agency or clearing house, either as a recognised clearing agency or clearing house or as an exempted clearing agency or clearing house.
MSC har udstedt anerkendelsesafgørelser vedrørende alle clearingagenturer og clearingcentraler, som den har godkendt som anerkendte clearingagenturer eller clearingcentraler, og disse afgørelser forpligter dem til at overholde PFMI'erne.
The MSC has issued recognition orders in respect of all clearing agencies and clearing houses authorised by it as recognised clearing agencies or clearing houses, requiring them to comply with the PFMIs.
De retligt bindende krav, der gælder for CCP'er, som har tilladelse i Ontario, består af Securities Act (Ontario), de bestemmelser og regler, der er udstedt i medfør af denne lov, samt de instrukser, afgørelser og andre krav, der er udstedt i medfør af den.
The legally binding requirements applicable to CCPs authorised in Ontario consist of the Securities Act (Ontario), the regulations and rules issued under the Securities Act (Ontario), and the directions, decisions, orders, rulings or other requirements made pursuant to it.
For at levere clearingydelser i Ontario skal en CCP godkendes af OSC enten som et anerkendt clearingagentur eller som et clearingagentur, der er fritaget for anerkendelse (»fritaget clearingagentur«).
In order to provide clearing services in Ontario, a CCP has to be authorised by the OSC either as a recognised clearing agency or as a clearing agency exempted from recognition (exempted clearing agency).
OSC kan fastlægge betingelser for godkendelse af et clearingagentur, enten som et anerkendt clearingagentur eller som et fritaget clearingagentur.
The OSC can impose conditions and terms on the authorisation of a clearing agency, either as a recognised clearing agency or as an exempted clearing agency.
OSC har udstedt anerkendelsesafgørelser vedrørende alle clearingagenturer, som den har godkendt som anerkendte clearingagenturer, og disse afgørelser forpligter dem til at overholde PFMI'erne.
The OSC has issued recognition orders in respect of all clearing agencies authorised by it as recognised clearing agencies requiring them to comply with the PFMIs.
De retligt bindende krav, der gælder for CCP'er, som har tilladelse i Québec, består af Securities Act (Québec), Derivatives Act (Québec) og Act respecting the Autorité des marchés financiers (»AAMF«), de forordninger, der er vedtaget i medfør af disse love, samt de afgørelser, der er udstedt af AMF.
The legally binding requirements applicable to CCPs authorised in Quebec consist of the Securities Act (Quebec), the Derivatives Act (Quebec) and the Act respecting the Autorité des marchés financiers (AAMF); the regulations adopted pursuant to the Securities Act (Quebec) and the Derivatives Act (Quebec) and the decisions and orders issued by the AMF.
For at levere clearingydelser i Québec skal en CCP godkendes af AMF enten som en anerkendt clearingcentral eller som en clearingcentral, der er fritaget for anerkendelse (»fritaget clearingcentral«).
In order to provide clearing services in Quebec, a CCP has to be authorised by the AMF either as a recognised clearing house or as a clearing house exempted from recognition (exempted clearing house).
AMF kan fastlægge betingelser for godkendelse af en clearingcentral, enten som en anerkendt clearingcentral eller som en fritaget clearingcentral.
The AMF can impose conditions and terms on the authorisation of a clearing house, either as a recognised clearing house or as an exempted clearing house.
AMF har udstedt anerkendelsesafgørelser vedrørende alle clearingcentraler, som den har godkendt som anerkendte clearingcentraler, og disse afgørelser forpligter dem til at overholde PFMI'erne.
The AMF has issued recognition orders in respect of all clearing houses authorised by it as recognised clearing houses requiring them to comply with the PFMIs.
Ved ækvivalensvurderingen af de retlige og tilsynsmæssige rammer, der gælder for CCP'er, som har tilladelse i de berørte provinser, bør der også tages hensyn til den risikobegrænsning, som de sikrer i forhold til det risikoniveau, som clearingmedlemmer og handelspladser, der er etableret i Unionen, er udsat for på grund af deres deltagelse i CCP'er med tilladelse der.
The equivalence assessment of the legal and supervisory arrangements applicable to CCPs authorised in the relevant provinces should also take account of the risk mitigation outcome that they ensure in terms of the level of risk to which clearing members and trading venues established in the Union are exposed to due to their participation in CCPs authorised therein.
De finansielle markeder, hvor de CCP'er, som har tilladelse i de berørte provinser, udøver deres clearingaktiviteter, er betydeligt mindre end dem, hvor de CCP'er, der er etableret i Unionen, udøver deres.
The size of the financial market in which CCPs authorised in the relevant provinces carry out their clearing activities is significantly smaller than those in which CCPs established in the Union carry out theirs.
I de seneste tre år har den samlede værdi af de derivattransaktioner, der er clearet i Canada, faktisk udgjort mindre end 3 % af den samlede værdi af de derivattransaktioner, der er clearet i Unionen.
In particular, over the past 3 years, the total value of derivative transactions cleared in Canada represented less than 3 % of the total value of derivative transactions cleared in the Union.
Derfor udsætter deltagelse i CCP'er, som har tilladelse i de berørte provinser, clearingmedlemmer og handelspladser, der er etableret i Unionen, for væsentligt lavere risiko end deltagelse i CCP'er, der har tilladelse i Unionen.
Therefore, participation in CCPs authorised in the relevant provinces exposes clearing members and trading venues established in the Union to significantly lower risks than their participation in CCPs authorised in the Union.
De retlige og tilsynsmæssige rammer, der gælder for CCP'er, som har tilladelse i de berørte provinser, kan derfor betragtes som ækvivalente, hvis de kan begrænse dette lavere risikoniveau.
The legal and supervisory arrangements applicable to CCPs authorised in the relevant provinces may therefore be considered as equivalent where they are appropriate to mitigate that lower level of risk.
De regler, der gælder for CCP'er, som har tilladelse i de berørte provinser, herunder de anerkendelsesafgørelser udstedt af værdipapirtilsynsmyndighederne, som kræver overholdelse af PFMI'erne, begrænser det lavere risikoniveau i de berørte provinser og sikrer en risikobegrænsning, der er ækvivalent med den, som forordning (EU) nr. 648/2012 har som mål.
The rules applicable to CCPs authorised in the relevant provinces, including the recognition orders issued by the securities regulators which require compliance with the PFMIs, mitigate the lower level of risk existing in the relevant provinces and achieve a risk mitigation outcome equivalent to that pursued by Regulation (EU) No 648/2012.
Kommissionen konkluderer derfor, at de retlige og tilsynsmæssige rammer i de berørte provinser sikrer, at CCP'er, som har tilladelse der, opfylder retligt bindende krav, som er ækvivalente med kravene i afsnit IV i forordning (EU) nr. 648/2012.
The Commission therefore concludes that the legal and supervisory arrangements of the relevant provinces ensure that CCPs authorised therein comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012.
I henhold til den anden betingelse i artikel 25, stk. 6, skal de retlige og tilsynsmæssige rammer for CCP'er med tilladelse i de berørte provinser, sikre, at disse CCP'er til enhver tid er underlagt effektivt tilsyn og håndhævelse af reglerne.
According to the second condition under Article 25(6), the legal and supervisory arrangements in respect of CCPs authorised in the relevant provinces must provide for effective supervision and enforcement of those CCPs on an ongoing basis.
Tilsyn med CCP'er, der har tilladelse i flere provinser, gennemføres i et samarbejde mellem værdipapirtilsynsmyndighederne i de berørte provinser.
Supervision of CCPs which are authorised in multiple provinces is carried out in a cooperative way between the securities regulators of the relevant provinces.
For CCP'er, der er udpeget af Canadas nationalbank som aktører, der udgør en systemisk risiko, udføres tilsynet i et samarbejde mellem værdipapirtilsynsmyndighederne i de berørte provinser og Canadas nationalbank.
For CCPs designated by the Bank of Canada as capable of posing systemic risk, supervision of CCPs is carried out cooperatively between the securities regulators of the relevant provinces and the Bank of Canada.
I Alberta har ASC vide beføjelser til at træffe afhjælpende eller afskrækkende foranstaltninger over for et godkendt clearingagentur, hvad enten det er anerkendt eller fritaget for anerkendelse, hvis det er i offentlighedens interesse, eller hvis agenturet har overtrådt Albertas værdipapirlovgivning.
In Alberta, the ASC has broad powers to take any remedial or dissuasive actions against an authorised clearing agency, either recognised or exempted from recognition, in the public interest or where a clearing agency has violated the Alberta securities laws.
Både anerkendte og fritagne clearingagenturer skal fremlægge oplysninger, dokumenter eller registre med henblik på at sikre overensstemmelse med de gældende regler.
Both recognised and exempted clearing agencies must provide information, documents or records for the purposes of ensuring compliance with the applicable rules.
ASC kan pålægge både anerkendte og fritagne clearingagenturer administrative sanktioner og suspendere, ændre vilkårene for eller ophæve agenturets anerkendelse eller en afgørelse om fritagelse af et clearingagentur.
The ASC can, both regarding recognised and exempted clearing agencies, impose administrative penalties and suspend, change the terms of or revoke a clearing agency's recognition or an order exempting a clearing agency from recognition.
ASC kan også anmode om en erklæring fra retten om, at et clearingagentur har overtrådt bestemmelserne, indlede andre retlige procedurer og gennemføre undersøgelser, der kan føre til en række forskellige sanktioner.
The ASC can also request a declaration of non-compliance by the courts, initiate other judicial proceedings and conduct investigations which can result in the imposition of a variety of sanctions.
Sanktioner kan også pålægges direktører og ledere af personer eller virksomheder eller andre personer, der godkender, tillader eller stiltiende accepterer overtrædelsen af Albertas værdipapirlovgivning.
Penalties may also be imposed on directors and officers of persons or companies, or other persons that authorise, permit or acquiesce in the breach of Alberta securities laws.
Desuden udfører ASC inspektioner på stedet af anerkendte clearingagenturer, iværksætter regelmæssige konsultationer med dem, gennemgår og analyserer obligatorisk dokumentation og kan træffe afgørelser om ethvert anerkendt clearingagenturs interne bestemmelser, procedurer eller praksis, hvis den mener, at det er i offentlighedens interesse at gøre det.
In addition, as regards recognised clearing agencies, the ASC conducts on-site inspections, regular consultations and review and analysis of required filings, and can make decisions with regard to any internal rule, procedure or practice of any recognised clearing agency if the ASC considers it is in the public interest to do so.
I British Columbia fører BCSC løbende tilsyn med anerkendte clearingagenturer via periodiske inspektioner på stedet og regelmæssig kommunikation med den øverste ledelse af agenturerne og gennemgår desuden de oplysninger, der indberettes af clearingagenturerne, og tjekker, om de overholder deres egne krav vedrørende bl.a. risikostyring.
In British Columbia, the BCSC conducts ongoing supervision of recognised clearing agencies through the use of periodic on-site inspections and regular communication with senior management of the clearing agency, as well as review of the information reported by the clearing agency and compliance with the clearing agency's requirements relating to the management of risks, among others.
BCSC har vide beføjelser til at træffe afhjælpende eller afskrækkende foranstaltninger over for et godkendt clearingagentur, hvis det er i offentlighedens interesse, eller hvis agenturet har overtrådt Securities Act (British Columbia).
The BCSC has broad powers to take any remedial or dissuasive action against a recognised clearing agency in the public interest or where a clearing agency has violated the Securities Act (British Columbia).
Sådanne foranstaltninger omfatter bl.a., at BCSC træffer afgørelser om et anerkendt clearingagenturs vedtægter, regler, procedurer eller praksis eller om den måde, hvorpå agenturet udøver sin virksomhed, og BCSC kan desuden udstede afgørelser vedrørende agenturet, herunder suspension eller tilbagekaldelse af anerkendelsen, samt gennemføre undersøgelser, der kan føre til sanktioner.
Such actions include making any decision about the bylaws, rules, procedures or practices or the manner in which a recognised clearing agency carries on business, and can make orders regarding the recognised clearing agency, including the suspension or revocation of the recognition of clearing agencies as well as conduct investigations which can result in the imposition of sanctions.
I Manitoba fører MSC løbende tilsyn med godkendte clearingagenturer, anerkendte såvel som fritagne.
In Manitoba, the MSC conducts ongoing supervision of authorised clearing agencies, either recognised or exempted from recognition.
Dog er de fritagne agenturer underlagt et mere begrænset tilsyn.
However, exempted clearing agencies are subject to more limited supervision by the MSC.
Tilsynet med anerkendte clearingagenturer og clearingcentraler foregår via regelmæssig gennemgang af rapporteringen, periodiske inspektioner på stedet, regelmæssig kontakt med ledelsen af clearingagenturerne og -centralerne og en årlig vurdering af risici og kontrolordninger.
For recognised clearing agencies or clearing houses, supervision is carried out through periodic reporting review, periodic on-site inspections, regular communication with senior management of the clearing agency or clearing house and an annual assessment of risks and controls.