natgillin/translations-raw huggingface dataset:
The European Parliament supported the establishment of such publication of credit ratings in its resolution on credit rating agencies of 8 June 2011.
Evropski parlament je takšno objavljanje bonitetnih ocen podprl v svoji resoluciji o bonitetnih agencijah z dne 8. junija 2011.
Credit ratings, whether issued for regulatory purposes or not, have a significant impact on investment decisions and on the image and financial attractiveness of issuers.
Bonitetne ocene lahko – ne glede na to, ali se izdajo za regulativne namene ali ne – pomembno vplivajo na naložbene odločitve ter na podobo in privlačnost izdajateljev s finančnega vidika.
Hence, credit rating agencies have an important responsibility towards investors and issuers in ensuring that they comply with Regulation (EC) No 1060/2009 so that their credit ratings are independent, objective and of adequate quality.
Zato imajo bonitetne agencije pomembno odgovornost do vlagateljev in izdajateljev pri zagotavljanju skladnosti svojih ravnanj z Uredbo (ES) št. 1060/2009 ter s tem neodvisnosti, objektivnosti in ustrezne kakovosti svojih bonitetnih ocen.
However, investors and issuers are not always in a position to enforce credit rating agencies’ responsibility towards them.
Kljub temu vlagatelji in izdajatelji nimajo vedno možnosti za uveljavljanje odgovornosti agencije do njih.
It can be particularly difficult to establish the civil liability of a credit rating agency in the absence of a contractual relationship between a credit rating agency and, for instance, an investor or an issuer rated on an unsolicited basis.
Zlasti je lahko težavno vztrajati pri civilnopravni odgovornosti bonitetne agencije, kadar ni pogodbenega razmerja med bonitetno agencijo in npr. vlagateljem ali izdajateljem, ki se ocenjuje nenaročeno.
Issuers can also face difficulties in enforcing credit rating agencies’ civil liability towards them even when they have a contractual relationship with the credit rating agency concerned: for instance, a downgrade of a credit rating, decided on the basis of an infringement of Regulation (EC) No 1060/2009 committed intentionally or with gross negligence, can impact negatively the reputation and funding costs of an issuer, therefore causing this issuer damage even if it is not covered by contractual liability.
Izdajatelji lahko na težave pri uveljavljanju civilnopravne odgovornosti agencije do njih naletijo tudi, če so z zadevno bonitetno agencijo v pogodbenem razmerju: npr. znižanje bonitetne ocene, ki se določi na podlagi kršitve Uredbe (ES) št. 1060/2009, do katere je prišlo namerno ali iz hude malomarnosti, lahko prizadene ugled in stroške financiranja izdajatelja ter temu izdajatelju tako povzroči škodo, ki pa je pogodbena odgovornost ne pokriva.
Therefore, it is important to provide for an adequate right of redress for investors who have reasonably relied on a credit rating issued in breach of Regulation (EC) No 1060/2009 as well as for issuers who suffer damage because of a credit rating issued in breach of Regulation (EC) No 1060/2009.
Zato je pomembno zagotoviti ustrezno pravico do pravnih sredstev vlagateljem, ki se razumno zanesejo na bonitetno oceno, izdano ob kršitvi Uredbe (ES) št. 1060/2009, in izdajateljem, katerim zaradi bonitetne ocene, izdane ob kršitvi Uredbe (ES) št. 1060/2009, nastane škoda.
The investor and issuer should be able to hold the credit rating agency liable for damages caused by an infringement of that Regulation which had an impact on the rating outcome.
Vlagatelj in izdajatelj bi morala imeti možnost uveljavljati odškodninsko odgovornost bonitetne agencije za škodo, povzročeno s kršitvijo navedene uredbe, ki je vplivala na rezultat bonitetnega ocenjevanja.
While investors and issuers who have a contractual relationship with a credit rating agency may choose to base a claim against that credit rating agency on a breach of contract, the possibility of claiming damages for an infringement of Regulation (EC) No 1060/2009 should be available for all investors and issuers, regardless of whether there is a contractual relationship between the parties.
Vlagatelji in izdajatelji, ki so v pogodbenem razmerju z bonitetno agencijo, lahko svoje zahtevke do te bonitetne agencije utemeljijo s kršitvijo pogodbe, sicer pa bi morali imeti vsi vlagatelji in izdajatelji možnost zahtevati odškodnino za kršitev Uredbe (ES) št. 1060/2009, ne glede na to, ali med strankami obstaja pogodbeno razmerje.
It should be possible for credit rating agencies to be held liable if they infringe intentionally or with gross negligence any obligations imposed on them by Regulation (EC) No 1060/2009.
Omogočiti bi bilo treba, da so bonitetne agencije odškodninsko odgovorne le, kadar namerno ali iz hude malomarnosti kršijo obveznosti, ki jim jih nalaga Uredba (ES) št. 1060/2009.
This standard of fault is appropriate because the activity of credit rating involves a certain degree of assessment of complex economic factors and the application of different methodologies may lead to different rating results, none of which can be considered as incorrect.
Navedeni standard krivde je primeren, saj dejavnost bonitetnega ocenjevanja vključuje določeno stopnjo presoje zapletenih ekonomskih dejavnikov, uporaba različnih metodologij pa lahko povzroči različne rezultate bonitetnega ocenjevanja, ki jih ni mogoče šteti kot nepravilne.
Also, it is appropriate to expose credit rating agencies to potentially unlimited liability only where they breach Regulation (EC) No 1060/2009 intentionally or with gross negligence.
Edino primerno je tudi, da za bonitetne agencije velja potencialno neomejena odgovornost le, kadar Uredbo (ES) št. 1060/2009 kršijo namerno ali iz hude malomarnosti.
The investor or issuer claiming damages for an infringement of Regulation (EC) No 1060/2009 should present accurate and detailed information indicating that the credit rating agency has committed such an infringement of that Regulation.
Vlagatelj ali izdajatelj, ki zahteva odškodnino zaradi kršitve določb Uredbe (ES) št. 1060/2009, bi moral predložiti točne in podrobne informacije, iz katerih izhaja, da je bonitetna agencija kršila to uredbo.
This should be assessed by the competent court, taking into consideration that the investor or issuer may not have access to information that is purely within the sphere of the credit rating agency.
To bi moralo oceniti pristojno sodišče, ob upoštevanju, da vlagatelj ali izdajatelj morda nima dostopa do informacij, ki jih ima izključno bonitetna agencija.
Regarding matters concerning the civil liability of a credit rating agency which are not covered by or defined in this Regulation, including causation and the concept of gross negligence, such matters should be governed by the applicable national law as determined by the relevant rules of private international law.
Glede zadev v zvezi s civilno odgovornostjo bonitetne agencije, ki niso urejene ali opredeljene s to uredbo, vključno z vzroki in pojmom hude malomarnosti, bi takšne zadeve moralo urejati veljavno nacionalno pravo, utemeljeno na ustreznih pravilih zasebnega mednarodnega prava.
In particular, Member States should be able to maintain national civil liability regimes which are more favourable to investors or issuers or which are not based on an infringement of Regulation (EC) No 1060/2009.
Države članice bi morale zlasti obdržati nacionalne ureditve civilne odgovornosti, ki so ugodnejše za vlagatelje ali izdajatelje ali ne temeljijo na kršitvah Uredbe (ES) št. 1060/2009.
The competent court to decide on a claim for civil liability brought by an investor or issuer should be determined by the relevant rules on private international law.
Sodišče, pristojno za odločanje o odškodninskem zahtevku vlagatelja ali izdajatelja iz naslova civilne odgovornosti, bi moralo biti določeno na podlagi ustreznih pravil o zasebnem mednarodnem pravu.
The fact that institutional investors including investment managers are obliged to carry out their own assessment of the creditworthiness of assets should not prevent courts from finding that an infringement of Regulation (EC) No 1060/2009 by a credit rating agency has caused damage to an investor for which that credit rating agency is liable.
Dejstvo, da so institucionalni vlagatelji, vključno z upravljavci naložb, dolžni sami oceniti kreditno kakovost sredstev, sodiščem ne bi smelo preprečiti, da ugotovijo, da je kršitev Uredbe (ES) št. 1060/2009 s strani bonitetne agencije povzročila vlagatelju škodo, za katero mu je ta bonitetna agencija odškodninsko odgovorna.
While this Regulation will improve the possibilities of investors to make an own risk assessment they will continue to have more limited access to information than the credit rating agencies themselves.
Ta uredba bo sicer izboljšala možnosti vlagateljev za pripravo lastne ocene tveganja, vendar bodo imeli ti še naprej bolj omejen dostop do informacij kot same bonitetne agencije.
Furthermore, in particular smaller investors may lack the capability to review a credit rating provided by a credit rating agency critically.
Poleg tega zlasti manjši vlagatelji morda ne bodo sposobni opraviti kritične revizije bonitetne ocene, ki jo izda bonitetna agencija.
Member States and ESMA should ensure that any penalties imposed pursuant to Regulation (EC) No 1060/2009 are publicly disclosed only where such public disclosure would be proportionate.
Države članice in ESMA bi morale zagotoviti, da se kazni, ki se naložijo na podlagi Uredbe (ES) št. 1060/2009, javno razkrijejo samo, kadar bi bilo tako javno razkritje sorazmerno.
In order to further mitigate conflicts of interest and facilitate fair competition in the credit rating market, it is important to ensure that the fees charged by credit rating agencies to clients are not discriminatory.
Za nadaljnje zmanjševanje nasprotij interesov in vzpostavitev poštene konkurence na trgu bonitetnega ocenjevanja je pomembno zagotoviti, da honorarji, ki jih bonitetne agencije zaračunavajo strankam, niso diskriminatorni.
Differences in fees charged for the same type of service should only be justifiable by a difference in the actual costs in providing this service to different clients.
Razlike med honorarji, zaračunanimi za isto vrsto storitve, so lahko upravičene le, kadar gre za razlike pri dejanskih stroških opravljanja takšne storitve za različne stranke.
Moreover, the fees charged for credit rating services to a given issuer should not depend on the results or outcome of the work performed or on the provision of related (ancillary) services.
Razen tega honorarji, zaračunani za storitve bonitetnega ocenjevanja, ki se opravijo za določenega izdajatelja, ne bi smeli biti odvisni od rezultatov ali izida opravljenega dela ali od zagotovitve povezanih (pomožnih) storitev.
Furthermore, in order to allow for the effective supervision of those rules, credit rating agencies should disclose to ESMA the fees received from each of their clients and their general pricing policy.
Poleg tega bi morale bonitetne agencije ESMA razkriti honorarje, prejete od posamezne stranke, in njihovo splošno politiko oblikovanja cen, s čimer bi se zagotovil učinkovit nadzor nad navedenimi pravili.
In order to contribute to the issuance of up-to-date and credible sovereign ratings and to facilitate users’ understanding, it is important to regularly review those ratings.
Da bi se prispevalo k izdajanju najnovejših in verodostojnih bonitetnih ocen držav ter olajšalo razumevanje uporabnikov, je pomembno redno revidirati navedene bonitetne ocene.
It is also important to increase transparency about the research work carried out, the staff allocated to the preparation of sovereign ratings and the underlying assumptions behind the credit ratings made by credit rating agencies in relation to sovereign debt.
Poleg tega je pomembno tudi izboljšati preglednost v zvezi z opravljenim raziskovalnim delom, osebjem, dodeljenim za pripravo bonitetnih ocen držav, in predpostavkami, na katerih temeljijo bonitetne ocene bonitetnih agencij v zvezi z državnim dolgom.
It is essential that investors have appropriate information to assess the creditworthiness of Member States.
Vlagatelji morajo imeti ustrezne informacije, da lahko ocenijo kreditno sposobnost držav članic.
In the framework of its surveillance of economic and fiscal policies of Member States, the Commission collects and processes data on the economic, financial and fiscal situation and performance of all Member States, most of which are published by the Commission and which can therefore be used by investors to assess the potential creditworthiness of Member States.
Komisija v okviru nadzora ekonomskih in fiskalnih politik držav članic zbira in obdeluje podatke o gospodarskem, finančnem in fiskalnem položaju in uspešnosti vseh držav članic, te podatke večinoma sama objavlja in jih zato lahko uporabljajo vlagatelji za ocenjevanje potencialne kreditne sposobnosti držav članic.
Where appropriate and available, and subject to the relevant confidentiality rules applicable in the framework of its surveillance of economic and fiscal policies of Member States, the Commission should complement existing reporting on economic performance of Members States by possible additional elements or indicators, which may help investors to assess the creditworthiness of Member States.
Komisija bi morala obstoječe poročanje o ekonomski uspešnosti držav članic dopolniti z morebitnimi dodatnimi dejavniki ali kazalniki, ki bi bili vlagateljem lahko v pomoč pri ocenjevanju kreditne sposobnosti držav članic, kadar je to ustrezno in so te informacije na voljo ter ob upoštevanju ustreznih pravil zaupnosti, ki se uporabljajo v okviru nadzora ekonomskih in fiskalnih politik držav članic.
Those elements should be made available to the public, complementing the existing publications and other publicly disclosed information, with a view to providing investors with further data in order to help them assess the creditworthiness of sovereign entities and their debt information.
Te dejavnike bi bilo treba dati na voljo javnosti, s čimer bi dopolnili obstoječe publikacije in druge javno razkrite informacije, zato da bi vlagateljem zagotovili dodatne podatke, ki bi jim pomagali oceniti kreditno sposobnost držav in podatke o njihovih dolgovih.
Bearing this in mind, the Commission should examine the possibility of developing a European creditworthiness assessment, to allow investors to make an impartial and objective assessment of Member States’ creditworthiness, taking into account the specific economic and social development.
Ob upoštevanju navedenega bi morala Komisija oceniti možnost izdelave Evropske ocene kreditne sposobnosti, da bi vlagateljem omogočila nepristransko in objektivno ocenjevanje kreditne sposobnosti držav članic ob upoštevanju posebnih gospodarskih in socialnih okoliščin.
If necessary, the Commission should submit appropriate legislative proposals.
Komisija bi morala po potrebi predložiti ustrezne zakonodajne predloge.
The current rules provide for credit ratings to be announced to the rated entity 12 hours before their publication.
Sedanja pravila določajo, da je treba ocenjevanemu subjektu sporočiti bonitetno oceno dvanajst ur pred njeno objavo.
In order to avoid such notification taking place outside working hours and to leave the rated entity sufficient time to verify the correctness of data underlying the credit rating, the rated entity should be notified a full working day before publication of the credit rating or of a rating outlook.
Da pa bi se izognili takšnemu obveščanju zunaj delovnega časa in ocenjevanemu subjektu zagotovili dovolj časa za preverjanje pravilnosti podatkov, na katerih temelji bonitetna ocena, bi bilo treba ocenjevane subjekte obvestiti o bonitetni oceni ali obetih glede bonitetne ocene en cel delovni dan pred njihovo objavo.
A list of the persons entitled to receive such notification should be limited and should be clearly identified by the rated entity.
Seznam oseb, ki so upravičeni do prejetja takega obvestila, bi moral biti omejen in jasno opredeljen s strani ocenjevanega subjekta.
In view of the specificities of sovereign ratings and in order to reduce the risk of volatility, it is appropriate and proportionate to require credit rating agencies to publish those ratings only after close of business of the trading venues established in the Union and at least one hour before their opening.
Glede na posebnosti bonitetnih ocen držav in z namenom zmanjšati tveganje nestanovitnosti je primerno in sorazmerno od bonitetnih agencij zahtevati, da te bonitetne ocene objavljajo le v času po zaključku trgovanja na mestih trgovanja, ustanovljenih v Uniji, in najmanj eno uro pred njihovim odprtjem.
On the same basis, it is also appropriate and proportionate that, at the end of December, credit rating agencies should publish a calendar for the following 12 months setting the dates for the publication of sovereign ratings and, corresponding thereto, the dates for the publication of related rating outlooks where applicable.
Na isti podlagi je tudi primerno in sorazmerno, da bi morale bonitetne agencije konec decembra objaviti koledar za naslednjih 12 mesecev, v katerem bi določile datume objav bonitetnih ocen držav ter po potrebi ustrezne datume objav povezanih obetov bonitetnih ocen.
Such dates should be set on a Friday.
Ti datumi bi morali bili na petek.
Only for unsolicited sovereign ratings should the number of publications in the calendar be limited between two and three.
Samo za nenaročene bonitetne ocene držav bi se moralo število objav v koledarju omejiti na dve do tri.
Where this is necessary to comply with their legal obligations, credit rating agencies should be allowed to deviate from their announced calendar, while explaining in detail the reasons for such deviation.
Bonitetnim agencijam bi bilo treba omogočiti odstopanje od napovedanega koledarja, kadar je to potrebno zaradi izpolnjevanja njihovih pravnih obveznosti, pri čemer morajo podrobno obrazložiti razloge za odstopanje.
However, such deviation should not happen routinely.
Vendar pa do takega odstopanja ne bi smelo prihajati redno.
On the basis of the evolution of the market, the Commission should submit a report to the European Parliament and the Council exploring the appropriateness of, and ways to, support a European public credit rating agency dedicated to assessing the creditworthiness of Members States’ sovereign debt and/or a European credit rating foundation for all other credit ratings.
Komisija bi morala na podlagi razvoja trga predložiti poročilo Evropskemu parlamentu in Svetu o primernosti in načinih za podporo evropske javne bonitetne agencije, ki bi ocenjevala sposobnost držav članic za odplačevanja državnega dolga, in/ali evropske ustanove za bonitetno ocenjevanje za vse druge bonitetne ocene.
In view of the specificities of sovereign ratings and in order to avoid a risk of contagion across the Union, statements announcing a revision of a given group of countries should be prohibited if not accompanied by individual country reports.
Glede na posebnosti bonitetnih ocen držav in za preprečitev nevarnosti razširitve po vsej Uniji bi bilo treba prepovedati izjave z napovedjo revizije skupine držav, če jih ne spremljajo poročila o posamezni državi.
Furthermore with the view to enhancing the validity and accessibility of sources of information used by credit rating agencies in public communications on potential changes in sovereign ratings, other than credit ratings, rating outlooks and accompanying press releases, such communications should always be based on information within the sphere of the rated entity which has been disclosed with the consent of the rated entity unless that information is available from generally accessible sources.
Z namenom povečanja veljavnosti in dostopnosti virov informacij, ki jih bonitetne agencije uporabljajo v javnem sporočanju o potencialnih spremembah bonitetnih ocen držav, ki niso bonitetne ocene ali obeti glede bonitetne ocene, in s tem povezana sporočila za medije, bi morala sporočila vedno temeljiti na informacijah, ki jih ima ocenjevani subjekt, ki so bile razkrite z dovoljenjem ocenjevanega subjekta, razen če so te informacije na voljo iz drugih splošno dostopnih virov.
Where the legal framework governing the rated entity provides that the rated entity must not disclose such information, such as in the case of inside information as defined in point (1) of Article 1 of Directive 2003/6/EC of the European Parliament and the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) [13], the rated entity must not give its consent.
Kadar pravni okvir, ki ureja ocenjevani subjekt, določa, da ta ne sme razkriti takšnih informacij, tako kot v primeru notranjih informacij, kakor so opredeljene v točki 1 člena 1 Direktive 2003/6/ES Evropskega parlamenta in Sveta z dne 28. januarja 2003 o trgovanju z notranjimi informacijami in tržni manipulaciji (zloraba trga) [13], ocenjevani subjekt ne sme dati soglasja.
For the purpose of transparency, when publishing their sovereign ratings, credit rating agencies should explain in their press releases or reports the key elements underlying those credit ratings.
Kadar bonitetne agencije objavijo svoje bonitetne ocene držav, bi morale zaradi preglednosti v sporočilih za javnost ali poročilih razložiti ključne dejavnike, na katerih te bonitetne ocene temeljijo.
However, transparency for sovereign ratings should not be conclusive to the direction of national policies (economic, labour or other).
Preglednost bonitetnih ocen držav pa ne bi smela vplivati na usmeritev nacionalnih politik (gospodarske, delovne ali drugih).
Therefore, whilst those policies may serve as an element for the credit rating agency to assess creditworthiness of a sovereign entity or its financial instruments, and may be used in explaining the main reasons for a sovereign rating, direct or explicit requirements or recommendations from credit rating agencies to sovereign entities as regards those policies should not be allowed.
Zato te politike sicer lahko služijo bonitetnim agencijam kot dejavnik za ocenjevanje kreditne sposobnosti države ali njenih finančnih instrumentov ter za razlago glavnih razlogov bonitetne ocene držav, ne bi pa smele biti dovoljene neposredne ali posredne zahteve ali priporočila bonitetnih agencij državam glede teh politik.
Credit rating agencies should refrain from any direct or explicit policy recommendations on policies of sovereign entities.
Bonitetne agencije bi se morale vzdržati vseh neposrednih ali izrecnih političnih priporočil glede politik držav.
Technical standards in the financial services sector should ensure an adequate protection of depositors, investors and consumers across the Union.
Tehnični standardi na področju finančnih storitev bi morali zagotoviti ustrezno varstvo depozitarjev, vlagateljev in potrošnikov po vsej Uniji.
As a body with highly specialised expertise, it would be efficient and appropriate to entrust ESMA, with the elaboration of draft regulatory and implementing technical standards which do not involve policy choices, for submission to the Commission.
Učinkovito in primerno bi bilo ESMA, kot organu z visoko specializiranim strokovnim znanjem, zaupati pripravo osnutkov regulativnih in izvedbenih tehničnih standardov, ki ne bi vključevali političnih izbir, ki bi se nato predložili Komisiji.