natgillin/translations-raw huggingface dataset:
The assessment of a delegation structure is a complex exercise that has to be based on a series of criteria in order for the competent authorities to form their judgement.
Ocena strukture prenosa je zapletena operacija, ki mora temeljiti na vrsti meril, da bi pristojni organi lahko oblikovali svoje mnenje.
The combination is necessary to take into account the variety of fund structures and investment strategies across the Union.
Ta kombinacija je nujna, da se upošteva raznolikost struktur skladov in strategij investiranja po vsej Uniji.
ESMA may develop guidelines to ensure a consistent assessment of delegation structures across the Union.
ESMA lahko oblikuje smernice, s katerimi zagotovi skladnost ocen struktur prenosa v Uniji.
The Commission shall monitor how the criteria are applied and their impact on the markets.
Komisija spremlja uporabo meril in njihov učinek na trge.
The Commission shall review the situation after two years and, should it prove necessary, shall take appropriate measures to further specify the conditions under which the AIFM shall be deemed to have delegated its functions to such an extent that it becomes a letter box entity and can no longer be considered to be the manager of the AIF.
Komisija po dveh letih pregleda položaj in, če se izkaže za potrebno, sprejme ustrezne ukrepe za nadaljnjo opredelitev pogojev, pod katerimi se šteje, da je UAIS prenesel svoje naloge v tolikšni meri, da se je njegova vloga zmanjšala na vlogo „poštnega predala“ in ne šteje več za upravitelja AIS.
Directive 2011/61/EU lays down an extensive set of requirements regarding the depositary of an AIF in order to ensure a high standard of investor protection.
Direktiva 2011/61/EU določa obsežen sklop zahtev glede depozitarja AIS, da se zagotovi visoka raven zaščite vlagateljev.
The respective concrete rights and obligations of the depositary, the AIFM and, as the case may be, or the AIF and third parties should therefore be set out clearly.
Ustrezne dejanske pravice in obveznosti depozitarja, UAIS in/ali AIS ter tretjih oseb bi bilo zato treba jasno določiti.
The written contract should comprise all details necessary for the appropriate safe-keeping of all the AIF’s assets by the depositary or a third party to whom safe-keeping functions are delegated in accordance with Directive 2011/61/EU and for the depositary to properly fulfil its oversight and control functions.
Pisna pogodba bi morala zajemati vse podatke, potrebne za ustrezno hrambo vseh sredstev AIS s strani depozitarja ali tretje osebe, na katere so prenesene naloge hrambe v skladu z Direktivo 2011/61/EU, in zato, da depozitar lahko ustrezno izpolnjuje svoje nadzorne naloge.
In order to allow the depositary to assess and monitor custody risk, the contract should provide sufficient detail on the categories of assets in which the AIF may invest and cover the geographical regions in which the AIF plans to invest.
Da bi lahko depozitar ocenil in spremljal tveganje hrambe, bi pogodba morala zagotavljati zadostne podrobnosti o kategorijah sredstev, v katere AIS lahko vlaga, in zajemati geografske regije, v katere AIS namerava vlagati.
The contract should also contain details of an escalation procedure.
Pogodba bi morala vključevati tudi podatke o postopku stopnjevanja.
Thus, the depositary should alert the AIFM to any material risk identified in a particular market’s settlement system.
Zato bi moral depozitar UAIS opozoriti na vsako pomembno tveganje, ugotovljeno v posebnem sistemu poravnave na trgu.
With respect to the termination of the contract, it should reflect the fact that the termination of the contract is the depositary’s last resort if it is not satisfied that the assets are sufficiently protected.
V zvezi s prekinitvijo pogodbe bi moral odražati dejstvo, da je prekinitev pogodbe depozitarjevo zadnje sredstvo, če meni, da sredstva niso zadostno zaščitena.
It should also prevent moral hazard whereby the AIFM would make investment decisions irrespective of custody risks on the basis that the depositary would be liable in most cases.
Preprečevati bi moral tudi moralno tveganje, pri čemer bi UAIS sprejemal odločitve o naložbah ne glede na tveganja hrambe na podlagi tega, da bi bil v večini primerov odgovoren depozitar.
In order to maintain a high standard of investor protection, the requirement laying down the details for the monitoring of third parties should be applied in relation to the whole custody chain.
Z namenom ohranjanja visoke ravni zaščite vlagateljev bi se zahteva, ki določa podrobnosti glede spremljanja tretjih oseb, morala uporabljati v celotni verigi hrambe.
A depositary established in a third country should be subject to public prudential regulation and to prudential supervision performed by a supervisory authority which is competent for ongoing supervision, undertaking investigations and imposing sanctions.
Za depozitarja s sedežem v tretji državi bi morala veljati javna pravila skrbnega in varnega poslovanja ter nadzora, ki ga izvaja pristojni organ, odgovoren za stalen nadzor, tekoče preiskave in nalaganje kazni.
Where that supervision of the depositary involves multiple supervisory authorities, one supervisory authority should act as the contact point for the purposes of Directive 2011/61/EU and all delegated and implementing measures adopted pursuant to it.
Kadar navedeni nadzor depozitarja vključuje več nadzornih organov, bi en nadzorni organ moral delovati kot kontaktna točka za namene Direktive 2011/61/EU in vse delegirane in izvedbene ukrepe, sprejete v skladu z njo.
The assessment of the law of the third country according to Article 21(6) last subparagraph of Directive 2011/61/EU should be made by the European Commission by comparing the authorisation criteria and the ongoing operating conditions applicable to the depositary in the third country with the corresponding requirements applicable under Union law to credit institutions and, as the case may be, or to investment firms for access to the depositary business and performance of the depositary functions, with a view to ascertaining whether the local criteria have the same effect as those established under Union law.
Oceno zakonodaje tretje države v skladu z zadnjim pododstavkom člena 21(6) Direktive 2011/61/EU bi morala izvesti Evropska komisija, in sicer s primerjavo meril za izdajo dovoljenja in tekočih pogojev poslovanja, ki veljajo za depozitarja iz tretje države, z ustreznimi zahtevami, ki se uporabljajo v skladu z zakonodajo Unije za kreditne institucije in/ali za investicijska podjetja pri dostopu do dejavnosti depozitarja in izvajanju nalog depozitarja, da se ugotovi, ali imajo lokalna merila enak učinek kot merila, določena v zakonodaji Unije.
A depositary which is subject to prudential oversight and licensed in the third country under a local category other than a credit institution or an investment firm may be assessed by the European Commission with a view to ascertaining whether the relevant provisions of the law of the third country have the same effect as those established by the law of the Union for credit institutions and, as the case may be, or for investment firms.
Evropska komisija lahko depozitarja, ki je predmet nadzora skrbnega in varnega poslovanja in je dovoljenje pridobil v tretji državi na lokalni ravni kategorije, ki ni kreditna institucija ali investicijsko podjetje, oceni z namenom, da se ugotovi, ali imajo zadevne določbe zakonodaje tretje države enak učinek kot določbe iz zakonodaje Unije za kreditne institucije in/ali za investicijska podjetja.
In order for the depositary to have a clear overview of all inflows and outflows of cash of the AIF in all instances, the AIFM should ensure that the depositary receives without undue delay accurate information related to all cash flows, including from any third party with which an AIF’s cash account is opened.
Da ima depozitar jasen pregled nad vsemi pritoki in odtoki denarnih sredstev AIS na vseh stopnjah, bi UAIS moral zagotoviti, da depozitar nemudoma prejme točne informacije o vseh denarnih tokovih, vključno o tokovih katere koli tretje osebe, pri kateri ima AIS odprt denarni račun.
In order for the AIF’s cash flows to be properly monitored the depositary’s obligation consists of making sure that there are procedures in place and effectively implemented to appropriately monitor the AIF’s cash flows and that these procedures are periodically reviewed.
Za ustrezno spremljanje denarnih tokov AIS med obveznosti depozitarja spada zagotavljanje, da so na voljo učinkoviti postopki, s katerimi se denarni tokovi AIS lahko ustrezno spremljajo, in da so ti postopki redno pregledani.
In particular, the depositary should look into the reconciliation procedure to satisfy itself that the procedure is suitable for the AIF and performed at appropriate intervals taking into account the nature, scale and complexity of the AIF.
Depozitar bi moral upoštevati postopek usklajevanja, s čimer bi zagotovil, da je postopek za AIS ustrezen in da se izvaja ustrezno pogosto ob upoštevanju narave, obsega in kompleksnosti AIS.
Such a procedure should for example compare one by one each cash flow as reported in the bank account statements with the cash flows recorded in the AIF’s accounts.
Tak postopek bi moral na primer primerjati vsak denarni tok iz izkazov bančnih računov z denarnimi tokovi, ki so zabeleženi v računih AIS.
Where reconciliations are performed on a daily basis as for most open-ended AIFs, the depositary should perform its reconciliation also on a daily basis.
Kadar se usklajevanje izvaja vsakodnevno, kot velja za večino AIS odprtega tipa, bi tudi depozitar svoje usklajevanje moral izvajati vsakodnevno.
The depositary should in particular monitor the discrepancies highlighted by the reconciliation procedures and the corrective measures taken in order to notify without undue delay the AIFM of any anomaly which has not been remedied and to conduct a full review of the reconciliation procedures.
Depozitar bi moral zlasti spremljati neskladja, ugotovljena pri postopku usklajevanja, ter sprejete korektivne ukrepe, da bi lahko nemudoma obvestil UAIS o kakršnih koli nepravilnostih, ki niso bile odpravljene, ter izvedel celoten pregled postopkov usklajevanja.
Such a review should be performed at least once a year.
Takšen pregled bi bilo treba opraviti vsaj enkrat na leto.
The depositary should also identify on a timely basis significant cash flows and in particular those which could be inconsistent with the AIF’s operations, such as changes in positions in AIF’s assets or subscriptions and redemptions, and it should receive periodically cash account statements and check the consistency of its own records of cash positions with those of the AIFM.
Depozitar bi moral pravočasno opredeliti tudi znatne denarne tokove in zlasti tiste, ki bi bili lahko v neskladju z dejavnostmi AIS, kot so spremembe v pozicijah sredstev AIS ali vpisih in odkupih, redno pa bi moral prejemati izpiske denarnih računov in preverjati skladnost svojih evidenc pozicij denarnih sredstev z evidencami UAIS.
The depositary should keep its record up to date in accordance with Article 21(8)(b) of Directive 2011/61/EU.
Depozitar bi moral svoje evidence posodabljati v skladu s členom 21(8)(b) Direktive 2011/61/EU.
The depositary has to ensure that all payments made by or on behalf of investors upon the subscription of shares or units of an AIF have been received and booked in one or more cash accounts in accordance with Directive 2011/61/EU.
Depozitar mora zagotoviti, da so vsa plačila vlagateljev ali plačila v njihovem imenu po vpisu deležev ali enot AIS prejeta in knjižena na enem ali več denarnih računih v skladu z Direktivo 2011/61/EU.
The AIFM should therefore ensure that the depositary is provided with the relevant information it needs to properly monitor the receipt of investors’ payments.
UAIS bi moral zato zagotoviti, da ima depozitar dostop do ustreznih informacij, ki jih potrebuje za ustrezno spremljanje prejema plačil vlagateljev.
The AIFM has to ensure that the depositary obtains this information without undue delay when the third party receives an order to redeem or issue shares or units of an AIF.
UAIS mora zagotoviti, da depozitar te informacije dobi takoj, ko tretja oseba prejme naročilo za plačilo ali izdajo deležev ali enot AIS.
The information should therefore be transmitted at the close of the business day from the entity which is responsible for the subscription and redemption of shares or units of an AIF to the depositary in order to avoid any misuse of investors’ payments.
Informacije bi zato subjekt, ki je odgovoren za vpis in odkup deležev ali enot AIS, depozitarju moral posredovati ob koncu delovnega dneva, da se prepreči kakršna koli zloraba plačil vlagateljev.
Depending on the type of assets to be safe-kept, assets are either to be held in custody, as with financial instruments which can be registered in a financial instruments account, or which can be physically delivered to the depositary in accordance with Directive 2011/61/EU, or to be subject to ownership verification and record-keeping.
Glede na vrsto sredstev, ki se hranijo, se sredstva lahko hranijo, kot na primer finančni instrumenti, ki se lahko registrirajo na računu finančnih instrumentov ali ki se v skladu z Direktivo 2011/61/EU lahko fizično dostavijo depozitarju, ali pa zanje velja preverjanje lastništva in vodenje njihove evidence.
The depositary should hold in custody all financial instruments of the AIF or of the AIFM acting on behalf of the AIF that could be registered or held in an account directly or indirectly in the name of the depositary or a third party to whom custody functions are delegated, notably at the level of the central securities depositary.
Depozitar bi moral hraniti vse finančne instrumente AIS ali UAIS, ki deluje v imenu AIS, ki se lahko registrirajo ali hranijo na računu, neposredno ali posredno, v imenu depozitarja ali tretje osebe, na katero so prenesene naloge hrambe, zlasti na ravni centralnega depozitarja vrednostnih papirjev.
In addition to these situations those financial instruments are to be held in custody that are only directly registered with the issuer itself or its agent in the name of the depositary or a third party to whom custody functions are delegated.
Poleg tega je treba hraniti navedene finančne instrumente, ki se le neposredno registrirajo pri izdajatelju ali njegovem zastopniku v imenu depozitarja ali tretje osebe, na katero so prenesene naloge hrambe.
Those financial instruments that in accordance with applicable national law are only registered in the name of the AIF with the issuer or its agent, such as investments in non-listed companies by private equity and venture capital funds, should not be held in custody.
Navedeni finančni instrumenti, ki se v skladu z veljavno nacionalno zakonodajo pri izdajatelju ali njegovem zastopniku registrirajo le v imenu AIS, kot tudi naložbe v družbe, ki ne kotirajo na borzi, s strani skladov zasebnega in tveganega kapitala, se ne bi smeli hraniti.
All financial instruments which could be physically delivered to the depositary should be held in custody.
Vsi finančni instrumenti, ki se lahko fizično dostavijo depozitarju, bi se morali hraniti.
Provided that the conditions on which financial instruments are to be held in custody are fulfilled, financial instruments which are provided as collateral to a third party or are provided by a third party for the benefit of the AIF have to be held in custody too by the depositary itself or by a third party to whom custody functions are delegated as long as they are owned by the AIF or the AIFM acting on behalf of the AIF.
Če so izpolnjeni pogoji, pod katerimi se hranijo finančni instrumenti, se morajo finančni instrumenti, ki so tretji osebi zagotovljeni kot zavarovanje ali jih tretja oseba zagotovi v korist AIS, hraniti, in sicer s strani depozitarja ali tretje osebe, na katero so prenesene naloge hrambe, dokler so v lasti AIS ali UAIS, ki deluje v imenu AIS.
Also, financial instruments owned by the AIF or by the AIFM on behalf of the AIF, for which the AIF, or the AIFM on behalf of the AIF, has given its consent to re-use by the depositary, remain in custody as long as the right of re-use has not been exercised.
Tudi finančni instrumenti, ki so v lasti AIS ali UAIS, ki deluje v imenu AIS, za katere je AIS ali UAIS, ki deluje v imenu AIS, dal svoje soglasje, da jih depozitar lahko ponovno uporabi, ostanejo v hrambi, dokler ni uporabljena pravica do ponovne uporabe.
Financial instruments which are held in custody should be subject to due care and protection at all times.
Za finančne instrumente, ki se hranijo, veljajo pravila stalnega skrbnega in varnega ravnanja.
To ensure that the custody risk is properly assessed, in exercising due care, the depositary should in particular know which third parties constitute the custody chain, ensure that the due-diligence and segregation obligations have been maintained throughout the whole custody chain, ensure that it has an appropriate right of access to the books and records of third parties to whom custody functions are delegated, ensure compliance with these requirements, document all of these duties and make these documents available to and report to the AIFM.
Za zagotovitev, da je pri izvajanju pravil skrbnega ravnanja tveganje hrambe ustrezno ocenjeno, bi moral depozitar imeti informacije o tem, katere tretje osebe so v verigi hrambe, zagotoviti, da so v celotni verigi hrambe upoštevane obveznosti skrbnega ravnanja in ločevanja, zagotoviti ustrezen dostop do knjig in evidenc tretjih oseb, na katere so prenesene naloge hrambe, zagotoviti skladnost s temi zahtevami, dokumentirati vse dolžnosti in UAIS omogočiti dostop do teh dokumentov ter mu poročati.
In order to avoid circumvention of the requirements of Directive 2011/61/EU, the depositary should apply the safe-keeping duties to the underlying assets of financial structures and, as the case may be, or legal structures controlled directly or indirectly by the AIF or by the AIFM acting on behalf of the AIF.
Da se prepreči izogibanje izpolnjevanju zahtev Direktive 2011/61/EU, bi depozitar dolžnosti hrambe moral spoštovati pri osnovnih sredstvih finančnih struktur in/ali pravnih struktur, ki jih neposredno ali posredno nadzira AIS ali UAIS, ki deluje v imenu AIS.
That look-through provision should not apply to funds of funds or master-feeder structures provided they have a depositary which safe-keeps the fund’s assets appropriately.
Ta določba glede vpogleda (look-through) se ne bi smela uporabljati za sredstva skladov ali centralno-napajalne strukture, če imajo depozitarja, ki ustrezno hrani sredstva sklada.
The depositary should at all times have a comprehensive overview of all assets that are not financial instruments to be held in custody.
Depozitar bi moral vedno imeti celosten pregled nad vsemi sredstvi, ki niso finančni instrumenti, ki se hranijo.
Those assets would be subject to the obligation to verify the ownership and maintain a record under Directive 2011/61/EU.
Pri navedenih sredstvih velja obveznost preverjanja lastništva in vodenja evidence iz Direktive 2011/61/EU.
Examples of such assets are physical assets which do not qualify as financial instruments under Directive 2011/61/EU or could not be physically delivered to the depositary, financial contracts such as derivatives, cash deposits or investments in privately held companies and interests in partnerships.
Takšna sredstva so opredmetena sredstva, ki se v skladu z Direktivo 2011/61/EU ne štejejo kot finančni instrumenti ali jih ni mogoče fizično dostaviti depozitarju, finančne pogodbe, kot so izvedeni finančni instrumenti, denarne vloge ali naložbe v zasebne družbe in deleži v partnerstvih.
To achieve a sufficient degree of certainty that the AIF or the AIFM acting on behalf of the AIF is indeed the owner of the assets, the depositary should make sure it receives all information it deems necessary to be satisfied that the AIF or the AIFM acting on behalf of the AIF holds the ownership right over the asset.
Za doseganje zadostne stopnje gotovosti, da je AIS ali UAIS, ki deluje v imenu AIS, dejanski lastnik sredstev, bi moral depozitar zagotoviti, da prejme vse informacije, ki so potrebne za ugotavljanje tega, da je AIS ali UAIS, ki deluje v imenu AIS, dejanski lastnik sredstva.
That information could be a copy of an official document evidencing that the AIF or the AIFM acting on behalf of the AIF is the owner of the asset or any formal and reliable evidence that the depositary considers appropriate.
Navedena informacija je lahko kopija uradnega dokumenta, ki potrjuje, da je AIS ali UAIS, ki deluje v imenu AIS, lastnik sredstva, ali kakršen koli uraden in zanesljiv dokaz, ki se depozitarju zdi ustrezen.
If necessary, the depositary should request additional evidence from the AIF or the AIFM or as the case may be from a third party.
Če je potrebno, bi depozitar od AIS ali UAIS ali morda od tretje osebe moral zahtevati dodatna dokazila.
The depositary should keep a record of all assets for which it is satisfied that the AIF holds ownership.
Depozitar bi moral voditi evidenco vseh sredstev, za katere je prepričan, da so v lasti AIS.
It may set up a procedure to receive information from third parties, whereby procedures which ensure that the assets could not be transferred without the depositary or the third party to whom safe-keeping functions are delegated having been informed of such transactions may be feasible in the case of AIFs with infrequent transactions and, as the case may be, or transactions which are subject to pre-settlement negotiation.
Uvede lahko postopek za prejem informacij od tretjih oseb, pri čemer so postopki, ki zagotavljajo, da se sredstva ne bi mogla prenesti brez depozitarja ali tretje osebe, na katero so prenesene naloge hrambe in je bila o takih transakcijah obveščena, lahko mogoči v primeru AIS z redkimi transakcijami in/ali transakcijami, ki so predmet pogajanj pred poravnavo.
The requirement to have access to documentary evidence of each transaction from a third party could be appropriate for AIFs with more frequent portfolio trading, such as investments in listed derivatives.
Zahteva o dostopu do dokazov o vseh transakcijah tretje osebe bi bila lahko primerna za AIS, ki pogosteje trgujejo s portfeljem, kot so naložbe v izvedene finančne instrumente, ki kotirajo na borzi.
In order to ensure that the depositary is able to conduct its duties, it is necessary to clarify the tasks provided for in Article 21(9) of Directive 2011/61/EU, and in particular the second layer controls to be undertaken by the depositary.
Za zagotovitev, da depozitar lahko izvaja svoje dolžnosti, je treba pojasniti naloge iz člena 21(9) Direktive 2011/61/EU in zlasti drugo stopnjo nadzora, ki ga mora izvajati depozitar.
Such tasks should not prevent the depositary from conducting ex-ante verifications where it deems appropriate, and in agreement with the AIFM.
Take naloge depozitarju ne bi smele preprečevati, da po potrebi in po dogovoru z UAIS izvaja predhodna preverjanja.
In order to ensure that it is able to conduct its duties, the depositary should establish its own escalation procedure to address situations where irregularities have been detected.
Za zagotovitev, da depozitar lahko izvaja svoje dolžnosti, bi moral uvesti svoj postopek stopnjevanja, ki bi mu pomagal v primeru ugotovljenih nepravilnosti.
That procedure should ensure the notification of competent authorities of any material breaches.
Navedeni postopek bi moral zagotoviti obveščanje pristojnih organov o kakršnih koli pomembnih kršitvah.
The oversight responsibilities of the depositary towards third parties specified by this Regulation are without prejudice to the responsibilities incumbent on the AIFM under Directive 2011/61/EU.
Odgovornosti depozitarja glede nadzora tretjih oseb iz te uredbe ne posegajo v odgovornosti UAIS v skladu z Direktivo 2011/61/EU.
The depositary should check the consistency between the number of units or shares issued and the subscription proceeds received.
Depozitar bi moral preveriti skladnost števila izdanih enot ali deležev in prejetih zahtevkov za vpis.