natgillin/translations-raw huggingface dataset:
Et investeringsselskab , som modtager kunders instrukser eller ordrer gennem et andet investeringsselskab , er fortsat ansvarligt for , at tjenesteydelsen eller transaktionen på grundlag af sådanne eventuelle oplysninger eller anbefalinger udføres efter de bestemmelser , der vedtages i medfør af stk . 9 .
The investment firm which receives client instructions or orders through the medium of another investment firm shall remain responsible for concluding the service or transaction , based on any such information or recommendations , in accordance with measures adopted pursuant to paragraph 9 .
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 .
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 indebærer , at enten selskabet selv eller et andet investeringsselskab udfører kundeordrer vedrørende finansielle instrumenter , sikrer , at disse ordrer udføres på en sådan måde , at kunden opnår det bedst mulige resultat hvad angår kurs , omkostninger , hurtighed og sandsynlighed for , at ordren bliver udført , i betragtning af tidspunktet for ordreafgivelsen , ordrens omfang og art samt eventuelle særlige instrukser fra kunden .
Member States shall require that investment firms providing services which entail the execution , whether by the firm itself or another investment firm , of client orders in financial instruments ensure that those orders are executed in such a way that the client obtains the best possible result in terms of price , costs , speed and likelihood of execution , taking into account the time , size and nature of customer orders , and any specific instructions from the client .
Den kompetente myndighed kontrollerer , at investeringsselskaber har effektive procedurer , som tilsammen udgør en systematisk , gentagelig og påviselig metode til at lette udførelsen af kundeordrer på de for kunden gunstigste betingelser .
The competent authority shall verify that investment firms implement effective and efficient procedures which form a systematic , repeatable and demonstrable method for facilitating execution of client orders on terms that are most favourable to the client .
Ved vurderingen af disse procedurer skal der tages hensyn til , om de giver selskabet mulighed for at opnå det bedst mulige resultat i betragtning af de gældende markedsforhold på et marked , som et investeringsselskab med rimelighed kan forventes at have adgang til .
In assessing these procedures , regard shall be had to the extent to which the procedures enable the firm to obtain the best possible result having regard to the conditions prevailing in the marketplace to which the investment firm can reasonably be expected to have access .
Medlemsstaterne kræver , at investeringsselskaber regelmæssigt gennemgår de procedurer , de anvender for at opnå det for deres kunder bedst mulige resultat , og i 61 2 .
Member States shall require investment firms to review , on a regular basis , the procedures which they employ to obtain the best possible result for their clients and , where necessary , to adapt those procedures so as to obtain access to the execution venues which , on a consistent basis , offer the most favourable terms of execution available in the marketplace .
1 , 2 og 3 vedtager Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , gennemførelsesbestemmelser vedrørende : ( a ) 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 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 .
In order to ensure the protection necessary for investors , the fair and orderly functioning of markets , and to ensure the uniform application of paragraphs 1 , 2 and 3 , the Commission shall , in accordance with the procedure referred to in Article 59 ( 2 ) , adopt implementing measures concerning : ( a ) 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 ; 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 .
Artikel 20 Regler for behandling af kundeordrer 1 .
Article 20 Client order handling rules 1 .
Medlemsstaterne kræver , at investeringsselskaber , der har tilladelse til at udføre ordrer for kunders regning , anvender procedurer og ordninger , som sikrer en loyal og hurtig udførelse af kundeordrer i forhold til andre kundeordrer og uanset investeringsselskabets handelsinteresser .
Member States shall require that investment firms authorised to execute orders on behalf of clients implement procedures and arrangements which provide for the fair and expeditious execution of client orders , relative to other client orders or the trading interests of the investment firm .
Medlemsstaterne sikrer , at investeringsselskaber anvender procedurer eller ordninger , der bevirker , at kundeordrer , der i alle øvrige henseender er sammenlignelige , udføres i den rækkefølge , hvori de er modtaget af investeringsselskabet , og forhindrer , at kunders interesser skades af eventuelle interessekonflikter .
Member States shall ensure that investment firms operate procedures or arrangements for executing otherwise comparable client orders in accordance with their time of their reception by the investment firm , and for preventing client interests from being adversely affected by any conflicts of interest . 2 .
Medlemsstaterne sikrer , at investeringsselskaber indhenter kundernes udtrykkelige forhåndssamtykke , før de begynder at udføre kundernes ordrer uden om et reguleret markeds eller en MHF 's regler og systemer .
Member States shall ensure that investment firms obtain the express prior consent of clients before proceeding to execute client orders outside the rules and systems operated by a regulated market or MTF .
Medlemsstaterne giver investeringsselskaberne tilladelse til at opnå dette samtykke enten i form af en generel aftale eller for den enkelte transaktion .
Member States shall allow the investment firm to obtain this consent either in the form of a general agreement or in respect of individual transactions .
Hvis kundernes forhåndssamtykke gives i form af en generel aftale , bør samtykket fremgå af et særskilt dokument og fornys årligt .
If the prior consent of clients is given in the form of a general agreement , it should be contained in a separate document and should be renewed annually .
Medlemsstaterne kræver , at investeringsselskaber , medmindre kunden udtrykkeligt bestemmer andet , i tilfælde af limiterede kundeordrer , som under gældende markedsvilkår ikke kan udføres øjeblikkeligt , skal tage skridt til at fremme den hurtigst mulige udførelse af ordren ved straks at offentliggøre de betingelser , der er knyttet til denne limiterede kundeordre , på en måde , der gør oplysningen let tilgængelig for andre markedsdeltagere .
Member States shall require that , in the case of a client limit order which cannot be immediately executed under prevailing market conditions , investment firms are , unless the client expressly instructs otherwise , to take measures to facilitate the earliest possible execution of that order by making public immediately the terms of that client limit order in a manner which is easily accessible to other market participants .
Medlemsstaterne foreskriver , at de kompetente myndigheder skal kunne se bort fra forpligtelsen til at offentliggøre en limiteret ordre , som er af meget stort omfang i forhold til den normale markedsstørrelse , jf . artikel 41 , stk .
Member States shall provide that the competent authorities are to be able to waive the obligation to make public a limit order that is large in scale compared with normal market size as determined under Article 41 ( 2 ) .
2 , hvilke betingelser samt procedurer og ordninger , der kan sikre en øjeblikkelig , loyal og hurtig udførelse af kundeordrer , og de situationer eller transaktionstyper , hvor det vil være rimeligt , at investeringsselskaber fraviger reglen om øjeblikkelig udførelse for at opnå gunstigere vilkår for kunderne procedurerne for indhentning og fornyelse af kunders forhåndssamtykke til , at disse ordrer udføres uden om et reguleret markeds eller en MHF 's regler og systemer de forskellige metoder til vurdering af , om et investeringsselskab har opfyldt sin forpligtelse til at videregive oplysninger om ikke-udførte limiterede kundeordrer til markedet .
In order to ensure that measures for the protection of investors and fair and orderly functioning of markets take account of technical developments in financial markets , and to ensure the uniform application of paragraphs 1 to 4 , the Commission shall adopt , in accordance with the procedure referred to in Article 59 ( 2 ) , implementing measures which define : ( a ) the conditions and nature of the procedures and arrangements which result in the prompt , fair and expeditious execution of client orders and the situations in which or types of transaction for which investment firms may reasonably deviate from prompt execution so as obtain more favourable terms for clients ; the procedures for obtaining and renewing client consent prior to executing those orders outside the rules and systems of a regulated market or MTF ;
Artikel 21 Investeringsselskabers forpligtelser , når de har fuldmægtige ansat
the different methods through which an investment firm can be deemed to have met its obligation to disclose unexecuted client limit orders to the market . Article 21 Obligations of investment firms when employing tied agents
Medlemsstaterne kræver , at et investeringsselskab kun har fuldmægtige ansat med henblik på at fremme investeringsselskabets tjenesteydelser , hverve kunder og modtage ordrer fra kunder eller potentielle kunder , videregive ordrerne til investeringsselskabet og rådgive om finansielle instrumenter eller tjenesteydelser , der tilbydes af dette investeringsselskab .
Member States shall require an investment firm to employ tied agents only for the purposes of promoting the services of the investment firm , soliciting business or collecting orders from clients or potential clients and transmitting these to that investment firm , and providing advice in respect of financial instruments or services offered by that investment firm .
Medlemsstaterne kræver , at et investeringsselskab , der har en fuldmægtig ansat , skal bevare det hele og fulde ansvar for alle handlinger eller undladelser fra fuldmægtigens side , når denne handler for selskabernes regning .
Member States shall require an investment firm employing a tied agent to remain fully and unconditionally responsible for any action or omission on the part of the tied agent when acting on behalf of the firm .
Medlemsstaterne kræver , at investeringsselskabet sørger for , at dets fuldmægtige straks oplyser enhver kunde eller potentiel kunde om , i hvilken egenskab han handler , og hvilket selskab han repræsenterer .
Member States shall require the investment firm to ensure that a tied agent discloses immediately to any client or potential client the capacity in which he agent is acting and the firm which he is representing . 2 .
Medlemsstaterne sikrer , at investeringsselskaber overvåger deres fuldmægtiges aktiviteter og vedtager foranstaltninger og procedurer , der kan sikre , at fuldmægtigene i deres arbejde altid overholder dette direktiv .
Member States shall ensure that investment firms monitor the activities of their tied agents and adopt measures and procedures so as to ensure that they operate , on a continuous basis , in compliance with this Directive .
Hver medlemsstat sikrer , at fuldmægtige , som arbejder eller ønsker at arbejde på dets område , er optaget i et offentligt register , der er etableret og føres under den kompetente myndigheds ansvar .
Each Member State shall ensure that tied agents which act or wish to act on its territory are entered in a public register which is established and maintained under the responsibility of the competent authority .
Den kompetente myndighed sikrer , at fuldmægtige kun optages i det offentlige register , hvis det er godtgjort , at de har et tilstrækkeligt godt omdømme og er i besiddelse af den nødvendige almene , forretningsmæssige og faglige viden til præcist at kunne give kunden eller den potentielle kunde alle relevante oplysninger om den tilbudte tjenesteydelse .
The competent authority shall ensure that tied agents are only admitted to the public register if it has been established that they are of sufficiently good repute and that they possess appropriate general , commercial and professional knowledge so as to be able to communicate accurately all relevant information regarding the proposed service to the client or potential client .
Registeret skal regelmæssigt ajourføres .
The register shall be updated on a regular basis .
Det skal være offentligt tilgængeligt .
It shall be publicly available for consultation .
Medlemsstaterne sikrer , at investeringsselskaber kun har fuldmægtige ansat , som er optaget på de i stk . 4 omhandlede offentlige registre .
6 . Member States shall ensure that investment firms employ only tied agents entered in the public registers referred to in paragraph 4 .
4 omhandlede offentlige register og overvåge fuldmægtiges opfyldelse af kravene i stk . 4 til en institution , der opfylder betingelserne i artikel 45 , stk .
Member States may allow the competent authority to delegate the establishment and maintenance of the public register pursuant to paragraph 4 and the tasks of monitoring compliance of tied agents with the requirements of paragraph 4 to a body meeting the conditions laid down in Article 45 ( 2 ) .
2 . Artikel 22 Transaktioner med godkendte modparter
Article 22 Transactions executed with eligible counterparties
Medlemsstaterne sikrer , at investeringsselskaber , der har tilladelse til at udføre ordrer for kunders regning og / eller handle for egen regning , kan gennemføre transaktioner med godkendte modparter uden at være forpligtet til at opfylde de forpligtelser efter artikel 18 , 19 og 20 i dette direktiv , der gælder for sådanne transaktioner .
The Member States shall ensure that investment firms authorised to execute orders on behalf of clients and / or to deal on own account , may enter into transactions with eligible counterparties without being obliged to comply with the obligations under Articles 18 , 19 and 20 in respect of those transactions .
For at kunne gennemføre transaktioner i henhold til stk . 1 skal investeringsselskabet indhente den potentielle modparts bekræftelse af , at denne indvilliger i at blive behandlet som godkendt modpart .
In order to conclude transactions in accordance with paragraph 1 , the investment firm shall obtain confirmation from the prospective counterparty that it agrees to be treated as an eligible counterparty .
Bekræftelsen skal indhentes enten før eller under transaktionen eller i form af en generel aftale .
This confirmation shall be obtained either before or during the course of the transaction , or in the form of a general agreement .
Medlemsstaterne skal som godkendte modparter i henhold til denne artikel samt artikel 13 og 39 anerkende investeringsselskaber , kreditinstitutter , forsikringsselskaber eller andre godkendte eller regulerede finansielle formidlere , der anses for sådanne efter fællesskabsretten , dog ikke investeringsinstitutter og disses administrationsselskaber eller pensionsfonde og disses administrationsselskaber .
Member States shall recognise as eligible counterparties for the purposes of this Article and Articles 13 and 39 investment firms , credit institutions , insurance companies or any other authorised or regulated financial intermediary considered as such by Community legislation , but excluding UCITS and their management companies and pension funds and their management companies .
Medlemsstaterne kan endvidere anerkende investeringsinstitutter og disses administrationsselskaber , pensionsfonde og disses administrationsselskaber samt andre selskaber , der opfylder forudfastsatte procentvise krav , herunder kvantitative tærskler , som godkendte modparter .
Member States may also recognise as eligible counterparties UCITS and their management companies , pension funds and their management companies , and other companies meeting pre-determined proportionate requirements , including quantitative thresholds .
I tilfælde af en transaktion , hvor de potentielle modparter befinder sig i forskellige medlemsstater , skal investeringsselskabet tage hensyn til det andet selskabs status som defineret ved lov eller forskrifter i den medlemsstat , hvor dette andet selskab er etableret .
In the event of a transaction where the prospective counterparties are located in different jurisdictions , the investment firm shall defer to the status of the other company as determined by the law or measures of the Member State in which that company is established .
Klassificering som godkendt modpart i henhold til andet afsnit anfægter ikke sådanne foretagenders ret til at anmode om at blive behandlet som kunder , hvis forretninger med investeringsselskabet skal være underlagt artikel 18 , 19 og 20 . 2 .
62 Classification as an eligible counterparty under the second subparagraph shall be without prejudice to the right of such entities to request treatment as clients whose business with the investment firm is subject to Articles 18 , 19 and 20 .
Medlemsstaterne sikrer , at transaktioner på det regulerede marked eller MHF' en eller over disses systemer , der foretages af brugere af eller deltagere i et reguleret marked eller en MHF , behandles som transaktioner mellem godkendte modparter . For at sikre den ensartede anvendelse af stk .
Member States shall ensure that transactions undertaken by users or participants of a regulated market or an MTF , on or through the systems of the regulated market or MTFs , are treated as transactions between eligible counterparties .
1 , 2 og 3 på baggrund af ændringer i markedspraksis og lette den faktiske gennemførelse af det indre marked kan Kommissionen efter fremgangsmåden i artikel 59 , stk . 2 , vedtage gennemførelsesbestemmelser vedrørende klassificeringen af godkendte modparter .
In order to ensure the uniform application of paragraphs 1 , 2 and 3 in the light of changing market practice and to facilitate the effective operation of the single market , the Commission may adopt , in accordance with the procedure referred to in Article 59 ( 2 ) , implementing measures concerning the classification of eligible counterparties . SECTION 3 MARKET TRANSPARENCY AND INTEGRITY
AFDELING 3 MARKEDETS GENNEMSIGTIGHED OG INTEGRITET Artikel 23 Forpligtelse til at opretholde markedets integritet , indberette transaktioner og føre lister 1 .
Article 23 Obligation to uphold integrity of markets , report transactions , and maintain records 1 .
Uden at dette berører fordelingen af ansvaret for at håndhæve Europa-Parlamentets og Rådets direktiv 200 .
Without prejudice to the allocation of responsibilities for enforcing the provisions of European Parliament and Council Directive 200 .
/ EF19 [ om markedsmisbrug ] , overvåger den kompetente myndighed tillige investeringsselskabers aktiviteter for at sikre , at disse handler ærligt , loyalt og professionelt på en måde , der fremmer markedets integritet .
/ EC19 [ on Market Abuse ] , the competent authority shall also monitor the activities of investment firms to ensure that they act honestly , fairly and professionally and in a manner which promotes the integrity of the market .
Medlemsstaterne kræver , at investeringsselskaber sørger for , at de relevante oplysninger om samtlige transaktioner med finansielle instrumenter , som de har foretaget enten for egen eller for en kundes regning , er tilgængelige for den kompetente myndighed i mindst fem år .
Member States shall require investment firms to keep at the disposal of the competent authority , for at least five years , the relevant data relating to all transactions in financial instruments which they have carried out , whether on own account or on behalf of a client .
Ved transaktioner gennemført for kunders regning skal listerne indeholde alle oplysninger og nærmere enkeltheder om kundens identitet samt de oplysninger , der kræves efter Rådets direktiv 1991/308 / EØF20 .
In the case of transactions carried out on behalf of clients , the records shall contain all the information and details of the identity of the client , and the information required under Council Directive 1991/308 / EEC20 .
Medlemsstaterne kræver , at investeringsselskaber , der foretager transaktioner med finansielle instrumenter , der er optaget til handel på et reguleret marked , indberetter de nærmere oplysninger om disse transaktioner til den kompetente myndighed i investeringsselskabets hjemland .
Member States shall require investment firms which execute transactions in any financial instruments admitted to trading on a regulated market to report details of such transactions to the competent authority in the home Member State of the investment firm .
Denne forpligtelse gælder , uanset om transaktionerne har fundet sted på et reguleret marked eller ej .
This obligation shall apply whether or not such transactions were carried out on a regulated market .
Indberetningerne skal tilsendes den kompetente myndighed så hurtigt som muligt og senest ved afslutningen af den følgende arbejdsdag .
Those reports shall be transmitted as quickly as possible , and no later than the close of the following working day .
Indberetningerne skal oplyse om det købte / solgte instrument , handelspoststørrelse , dato og tidspunkt for køb og salg samt kurser .
The reports shall specify the instrument bought / sold , the quantity , the date and time of execution , and transaction prices .
De skal identificere den part , der foretog transaktionen , samt angive , gennem hvilket marked , handelssystem eller andet medium transaktionen har fundet sted .
They shall identify the party executing the transaction and indicate the market , trading system or other means through which the transaction was concluded .
Medlemsstaterne foreskriver , at disse indberetninger foretages til den kompetente myndighed enten af investeringsselskabet selv eller af det regulerede marked eller den MHF , over hvis systemer transaktionen er blevet gennemført .
5 . Member States shall provide that the reports are to be made to the competent authority either by the investment firm itself or by the regulated market or MTF through whose systems the transaction was completed .
Hvis transaktioner på et reguleret marked eller en MHF indberettes direkte til den kompetente myndighed af det regulerede marked eller MHF' en , kan der ses bort fra investeringsselskabets forpligtelse i henhold til stk . 3 .
In cases where transactions on a regulated market or MTF are reported directly to the competent authority by the regulated market or MTF , the obligation on the investment firm laid down in paragraph 3 may be waived .