natgillin/translations-raw huggingface dataset:
1 . Medlemsstaterne kræver , at investeringsselskaber , der driver en MHF , ud over at opfylde kravene i artikel 12 indfører gennemsigtige og faste regler og procedurer , der sikrer loyal og korrekt handel , og opstiller objektive kriterier for den effektive udførelse af ordrer , således at brugerne på et givet tidspunkt på MHF' en eller over MHF-systemet kan opnå den bedst mulige kurs i forhold til den påtænkte
Member States shall require that investment firms operating an MTF , in addition to meeting the requirements laid down in Article 12 , establish transparent and nondiscretionary rules and procedures for fair and orderly trading and establish objective criteria for the efficient execution of orders so as to enable users to obtain the best price available on or through the MTF , at any given moment for the size of transaction envisaged .
transaktions omfang . Disse regler og procedurer skal forhåndsgodkendes af den kompetente myndighed i hjemlandet .
Those rules and procedures shall be subject to prior approval by the competent authority of the home Member State .
2 . Medlemsstaterne kræver , at investeringsselskaber , der driver en MHF , giver adgang til faciliteten på gennemsigtige og objektive forretningsbetingelser .
Member States shall require that investment firms operating an MTF provide for access to the facility in accordance with transparent and objective commercial conditions .
Investeringsselskaber , der driver en MHF , skal have mulighed for alene at stille brugen af og adgangen til deres faciliteter til rådighed for godkendte modparter , som omhandlet i artikel 22 , stk . 3 .
Investment firms operating an MTF shall be able to make the use of its facilities and access thereto available only to eligible counterparties as referred to in Article 22 ( 3 ) .
Medlemsstaterne kræver , at investeringsselskaber , der driver en MHF , klart underretter deres brugere om deres respektive ansvar for afviklingen af transaktioner gennemført over faciliteten .
Member States shall require that investment firms operating an MTF clearly inform their users of their respective responsibilities for the settlement of the transactions executed in that facility .
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 artikel 46 , stk . 1 , fra deres kompetente myndighed om at suspendere handelen med et finansielt instrument eller fjerne dette instrument fra handelen .
Member States shall ensure that any investment firm operating an MTF complies immediately with any instruction from its competent authority pursuant to Article 46 ( 1 ) to suspend or remove a financial instrument from trading .
1 og 2 vedtager Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , gennemførelsesbestemmelser , som regulerer indholdet af handelsreglerne for at fremme loyal og korrekt handel over MHF-systemet .
In order to take account of technical developments on financial markets and to ensure uniform application of paragraphs 1 and 2 , the Commission shall adopt , in accordance with the procedure referred to in Article 59 ( 2 ) , implementing measures governing the content of trading rules to promote fair and orderly trading through the MTF . 2 .
Artikel 14 Meddelelse af tilladelse til tredjelandes selskaber og filialer 1 .
55 Article 14 Authorisation of third country firms and branches 1 .
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 .
Rådet træffer afgørelse med kvalificeret flertal .
The Council shall act by a qualified majority .
Hvis Kommissionen på grundlag af oplysninger , der forelægges den i henhold til stk . 1 , konstaterer , at EF-investeringsselskaber i et tredjeland ikke får en national behandling , der giver dem samme konkurrencevilkår som indenlandske investeringsselskaber , og at betingelsen « faktisk markedsadgang » ikke er opfyldt , kan den indlede forhandlinger med henblik på at berigtige dette forhold .
Whenever it appears to the Commission , on the basis of information submitted to it under paragraph 1 , that Community investment firms in a third country are not granted national treatment affording the same competitive opportunities as are available to domestic investment firms and that the conditions of effective market access are not fulfilled , the Commission may initiate negotiations in order to remedy the situation .
Under de i første afsnit nævnte omstændigheder kan Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , på et hvilket som helst tidspunkt samtidig med , at der indledes forhandlinger , bestemme , at medlemsstaternes kompetente myndigheder skal indskrænke eller suspendere deres afgørelser om endnu ikke behandlede eller endnu ikke indgivne ansøgninger om tilladelse og om erhvervelse af kapitalandele foretaget af direkte eller indirekte moderselskaber , som hører under det pågældende tredjelands ret .
In the circumstances referred to in the first subparagraph , the Commission may decide in accordance with the procedure referred to in Article 59 ( 2 ) , at any time and in addition to the initiation of negotiations , that the competent authorities of the Member States must limit or suspend their decisions regarding requests pending or future requests for authorization and the acquisition of holdings by direct or indirect parent undertakings governed by the law of the third country in question .
En sådan indskrænkning eller suspension kan ikke finde anvendelse , når investeringsselskaber , som behørigt er meddelt tilladelse i Fællesskabet , eller deres datterselskaber opretter datterselskaber , eller når sådanne investeringsselskaber eller datterselskaber erhverver kapitalandele i et EFinvesteringsselskab .
Such limitations or suspensions may not be applied to the setting up of subsidiaries by investment firms duly authorized in the Community or by their subsidiaries , or to the acquisition of holdings in Community investment firms by such firms or subsidiaries .
Varigheden af disse foranstaltninger må ikke overstige tre måneder .
The duration of such measures may not exceed three months .
Inden udløbet af den i andet afsnit nævnte frist på tre måneder kan Kommissionen på baggrund af forhandlingsresultaterne efter fremgangsmåden i artikel 59 , stk . 2 , beslutte at forlænge disse foranstaltninger .
Before the end of that three-month period referred to in the preceding paragraph and in the light of the results of the negotiations , the Commission may decide , in accordance with the procedure referred to in Article 59 ( 2 ) , to extend these measures .
2 og 3 nævnte forhold , skal medlemsstaterne efter anmodning fra Kommissionen underrette denne om : ( a ) enhver ansøgning om meddelelse af tilladelse til et direkte eller indirekte datterselskab af et eller flere moderselskaber , som henhører under det pågældende tredjelands ret enhver plan , som de får forelagt i henhold til artikel 9 , stk .
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 : ( a ) of any application for the authorization of any firm which is the direct or indirect subsidiary of a parent undertaking governed by the law of the third country in question ;
3 , om et sådant selskabs erhvervelse af kapitalandele i et EF-investeringsselskab , som ville bevirke , at dette investeringsselskab bliver dets datterselskab .
whenever they are informed in accordance with Article 9 ( 3 ) that such a parent undertaking proposes to acquire a holding in a Community investment firm , in consequence of which the latter would become its subsidiary .
Disse oplysninger vil ikke længere blive krævet , når der er indgået aftale med det pågældende tredjeland , eller når de i stk . 3 , andet og tredje afsnit , nævnte foranstaltninger ikke længere finder anvendelse .
That obligation to provide information shall lapse whenever agreement is reached with the third country concerned or when the measures referred to in the second and third subparagraphs 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 .
Kapitel II DRIFTSVILKÅR FOR INVESTERINGSSELSKABER Afdeling 1 Almindelige bestemmelser Artikel 15 Almindelige forpligtelser til at føre løbende tilsyn 1 .
Chapter II . OPERATING CONDITIONS FOR INVESTMENT FIRMS Section 1 General provisions Article 15 General obligation in respect of on-going supervision
Medlemsstaterne sikrer , at de kompetente myndigheder løbende fører tilsyn med de arbejdsgange , som investeringsselskaber er blevet anmodet om at indføre som betingelse for at opnå den første tilladelse . Medlemsstaterne kræver , at investeringsselskaber giver de kompetente myndigheder meddelelse om enhver væsentlig ændring i deres driftsplaner og samtlige de 58
1 . Member States shall ensure that the competent authorities keep under regular review the organisational arrangements which investment firms have been required to put in place as a condition for initial authorisation ..
2 . 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 .
Member States shall require investment firms to notify the competent authorities of any material changes to their programme of operations and to provide the competent authorities 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 artikel 45 , stk .
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 Article 45 ( 2 ) .
2 . Artikel 16 Interessekonflikter 1 .
Article 16 Conflicts of interest 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 , 2 .
For at tage hensyn til den tekniske udvikling på de finansielle markeder og sikre den ensartede anvendelse af stk .
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 .
1 , 2 og 3 vedtager Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , gennemførelsesbestemmelser med henblik på at ( a ) fastlægge 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 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 .
In order to take account of technical developments on financial markets and to ensure uniform application of paragraphs 1 , 2 and 3 , the Commission shall adopt , in accordance with the procedure referred to in Article 59 ( 2 ) , implementing measures to : ( a ) define 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 ; 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 .
59 Artikel 17 Egenkapital i øvrigt Medlemsstaterne kræver , at investeringsselskaber under hensyntagen til arten af den pågældende investeringsservice altid overholder bestemmelserne i direktiv 93/6 / EØF .
Article 17 Ongoing capital endowment 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 .
Afdeling 2 Bestemmelser til sikring af investorbeskyttelse Artikel 18 Forpligtelser med hensyn til god forretningsskik , der skal opfyldes ved ydelsen af investeringsservice til kunder 1 .
Section 2 Provisions to ensure investor protection Article 18 Conduct of business obligations when providing investment services to clients 1 .
Medlemsstaterne sikrer , at et investeringsselskab , når det yder kunder investeringsservice , handler loyalt , korrekt og professionelt i sine kunders bedste interesse og især opfylder de i stk .
Member States shall ensure that , when providing investment services 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 .
2-8 fastsatte principper . Reklamemateriale eller oplysninger heri , som sendes til kunder eller potentielle kunder , skal fremstå som sådant og være korrekt , klart og ikke-vildledende .
Marketing communications , or information contained therein , addressed to clients or potential clients , shall be identified as such , and shall be fair , clear and not misleading .
Kunder eller potentielle kunder skal rettidigt og i forståelig form modtage udførlige oplysninger om investeringsselskabet og dets tjenesteydelser , således at de er i stand til at forstå , nøjagtig hvilken investeringsservice og hvilke finansielle instrumenter de tilbydes , samt de dermed forbundne risici .
Timely information shall be provided in a comprehensible form to clients or potential clients about the investment firm and its services , so that they are able to understand the precise nature and risks of the investment service and financial instrument that is being offered .
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 .
Kunderne skal rettidigt have korrekte , klare og ikke-vildledende oplysninger om finansielle instrumenter , foreslåede investeringer og handelssystemer , således at de er i stand til at træffe kvalificerede investeringsbeslutninger .
Timely information shall be provided to the client regarding financial instruments , proposed investments and execution venues which is fair , clear and not misleading , so as to enable the client to take investment decisions on an informed basis .
Kunderne skal have fyldestgørende vejledning og advarsler om risiciene ved investeringer i særlige instrumenter eller ved investeringsstrategier , idet der tages særligt hensyn til kundernes viden og erfaringer .
Appropriate guidance and warnings on the risks associated with investments in particular instruments or investment strategies shall be provided to the client , having particular regard to 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 .
Investeringsselskabet skal aflægge rapport for kunden , hvori der gøres status over transaktioner og tjenesteydelser udført for kundens regning og over omkostningerne i forbindelse med transaktionerne og tjenesteydelserne .
Reports shall be provided to the client on the progress of and the costs associated with the transactions and services undertaken on behalf of the client .
1-8 vedtager Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , gennemførelsesbestemmelser , der sikrer , at investeringsselskaberne overholder principperne i stk .
In order to ensure the necessary protection of investors and the uniform application of paragraphs 1 to 8 , the Commission shall adopt , in accordance with the procedure referred to in Article 59 ( 2 ) , implementing measures to ensure that investment firms comply with the principles set out therein when providing investment or ancillary services to their clients .
1-8 , når de leverer investeringsservice eller accessoriske tjenesteydelser til deres kunder . Gennemførelsesbestemmelserne skal tage hensyn til : 60
Those implementing measures shall take into account : ( a ) 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 ; the nature of the financial instruments being offered or considered ;
( b ) ( c ) 10 .
( b ) ( c ) 10 .
Medlemsstaterne tillader , at et investeringsselskab , der gennem et andet investeringsselskab modtager instrukser om at udføre investeringsservice eller accessoriske tjenesteydelser for en kundes regning , påberåber sig kundeoplysninger fra det selskab , der formidler instrukserne .
Member States shall allow an investment firm receiving an instruction to perform investment or ancillary services on behalf of a client through the medium of another investment firm to rely on client information transmitted by the firm which mediates the instructions .
Et investeringsselskab , der på denne måde modtager instrukser om at udføre tjenesteydelser for en kundes regning , skal også kunne påberåbe sig eventuelle anbefalinger af tjenesteydelsen eller transaktionen , som kunden måtte have modtaget fra et andet investeringsselskab .
The investment firm which receives an instruction to undertake services on behalf of a client in this way shall also be able to rely on any recommendations in respect of the service or transaction that have been provided to the client by another investment firm .