natgillin/translations-raw huggingface dataset:
According to the Commission report and the Commission communication, the administrative burden associated with obligations linked to admission to trading on a regulated market should be reduced for small and medium-sized issuers in order to improve their access to capital.
Po navedbah iz poročila Komisije in sporočila Komisije bi bilo treba zmanjšati upravno obremenitev malih in srednje velikih izdajateljev, povezano z obveznostmi glede sprejetja v trgovanje na organiziranem trgu, da bi izboljšali njihov dostop do kapitala.
The obligations to publish interim management statements or quarterly financial reports represent an important burden for many small and medium-sized issuers whose securities are admitted to trading on regulated markets, without being necessary for investor protection.
Obveznosti objavljanja vmesnih poročil uprave ali četrtletnih računovodskih poročil je velika obremenitev za številne male in srednje velike izdajatelje, katerih vrednostni papirji so sprejeti v trgovanje na organiziranih trgih, za zaščito vlagateljev pa ni potrebna.
Those obligations also encourage short-term performance and discourage long-term investment.
Te obveznosti poleg tega spodbujajo kratkoročne rezultate in odvračajo od dolgoročnih naložb.
In order to encourage sustainable value creation and long-term oriented investment strategy, it is essential to reduce short-term pressure on issuers and give investors an incentive to adopt a longer term vision.
Da bi spodbudili doseganje trajnostne vrednosti in dolgoročno usmerjene strategije vlaganja, je nujno treba zmanjšati pritisk na izdajatelje za doseganje kratkoročnih rezultatov in vlagatelje spodbuditi k sprejetju dolgoročnejše vizije.
The requirement to publish interim management statements should therefore be abolished.
Zato bi bilo treba odpraviti zahtevo po objavljanju vmesnih poročil uprave.
Member States should not be allowed to impose in their national legislation the requirement to publish periodic financial information on a more frequent basis than annual financial reports and half-yearly financial reports.
Državam članicam ne bi smelo biti dovoljeno, da v svoji nacionalni zakonodaji določijo zahtevo, da se periodične finančne informacije objavljajo pogosteje kot letna računovodska poročila in polletna računovodska poročila.
However, Member States should nevertheless be able to require issuers to publish additional periodic financial information if such a requirement does not constitute a significant financial burden, and if the additional information required is proportionate to the factors that contribute to investment decisions.
Vendar bi morale države članice kljub temu imeti možnost, da od izdajateljev zahtevajo objavljanje dodatnih periodičnih finančnih informacij, če takšna zahteva ne predstavlja znatne finančne obremenitve in so zahtevane dodatne informacije sorazmerne s prispevkom k odločitvam o naložbah.
This Directive is without prejudice to any additional information that is required by sectoral Union legislation, and in particular Member States can require the publication of additional periodic financial information by financial institutions.
Ta direktiva ne posega v dodatne informacije, ki jih zahteva področna zakonodaja Unije, države članice pa lahko zlasti od finančnih institucij zahtevajo objavljanje dodatnih periodičnih finančnih informacij.
Moreover, a regulated market can require issuers which have their securities admitted to trading thereon to publish additional periodic financial information in all or some of the segments of that market.
Poleg tega se lahko na organiziranem trgu od izdajateljev, katerih vrednostni papirji so sprejeti v trgovanje na tem organiziranem trgu, zahteva objavljanje dodatnih periodičnih finančnih informacij v vseh ali nekaterih segmentih tega trga.
In order to provide additional flexibility and thereby reduce administrative burdens, the deadline for publishing half-yearly financial reports should be extended to three months after the end of the reporting period.
Za zagotovitev dodatne prožnosti in s tem zmanjšanje upravnih obremenitev bi bilo treba rok za objavo polletnih računovodskih poročil podaljšati na tri mesece po koncu obdobja poročanja.
As the period in which issuers can publish their half-yearly financial reports is extended, small and medium-sized issuers’ reports are expected to receive more attention from the market participants, and thereby those issuers become more visible.
Ker je obdobje, v katerem lahko izdajatelji objavijo polletna računovodska poročila, podaljšano, se pričakuje, da bodo poročila malih in srednje velikih izdajateljev deležna več pozornosti udeležencev na trgu ter da se bo s tem izboljšala prepoznavnost teh izdajateljev.
In order to provide for enhanced transparency of payments made to governments, issuers whose securities are admitted to trading on a regulated market and who have activities in the extractive or logging of primary forest industries should disclose in a separate report, on an annual basis, payments made to governments in the countries in which they operate.
Za zagotovitev boljše preglednosti plačil vladam bi morali izdajatelji, katerih vrednostni papirji so sprejeti v trgovanje na organiziranem trgu in ki opravljajo dejavnost v ekstraktivni industriji ali v industriji izkoriščanja prvotnih gozdov, v ločenem letnem poročilu objaviti plačila vladam v državah, v katerih poslujejo.
The report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI).
Poročilo bi moralo vključevati vrste plačil, primerljive s tistimi, ki jih razkrivajo podjetja, ki sodelujejo v pobudi za preglednost v ekstraktivni industriji (EITI).
The disclosure of payments to governments should provide civil society and investors with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources.
Z razkritjem plačil vladam bi se civilni družbi in vlagateljem zagotovile informacije, na podlagi katerih bi se lahko od vlad držav, ki so bogate z viri, zahtevala odgovornost za prejemke od izkoriščanja naravnih virov.
The initiative is also complementary to the Forest Law Enforcement, Governance and Trade Action Plan of the European Union (EU FLEGT) and the provisions of Regulation (EU) No 995/2010 of the European Parliament and of the Council of 20 October 2010 laying down the obligations of operators who place timber and timber products on the market [5], which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the Union market.
Pobuda tudi dopolnjuje Akcijski načrt izvrševanja zakonodaje, upravljanja in trgovanja na področju gozdov) (EU FLEGT) in določbe Uredbe (EU) št. 995/2010 Evropskega parlamenta in Sveta z dne 20. oktobra 2010 o določitvi obveznosti gospodarskih subjektov, ki dajejo na trg les in lesne proizvode [5], ki od trgovcev z lesnimi izdelki zahtevata, da ravnajo z ustrezno skrbnostjo, da bi preprečili vstop nezakonitega lesa na trg Unije.
Member States should ensure that the members of the responsible bodies of an undertaking, acting within the competences assigned to them by national law, have responsibility for ensuring that, to the best of their knowledge and ability, the report on payments to governments is prepared in accordance with the requirements of this Directive.
Države članice bi morale zagotoviti, da so člani pristojnih organov podjetja, ki delujejo v okviru pristojnosti, ki jim jih podeljuje nacionalno pravo, odgovorni za zagotavljanje, da se po njihovem najboljšem poznavanju in sposobnostih pripravi poročilo o plačilih vladam v skladu z zahtevami te direktive.
The detailed requirements are defined in Chapter 10 of Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings [6].
Zahteve so podrobno opredeljene v poglavju 10 Direktive 2013/34/EU Evropskega parlamenta in Sveta z dne 26. junija 2013 o letnih računovodskih izkazih, konsolidiranih računovodskih izkazih in povezanih poročilih nekaterih oblik podjetij [6].
For the purposes of transparency and investor protection, Member States should require the following principles to apply to reporting on payments to governments in accordance with Chapter 10 of Directive 2013/34/EU: materiality (any payment, whether made as a single payment or a series of related payments, need not be taken into account in the report if it is below EUR 100000 within a financial year); government and project-by-project reporting (reporting on payments to governments should be done on a government and project-by-project basis); universality (no exemptions, for instance for issuers active in certain countries, should be made which have a distortive impact and allow issuers to exploit lax transparency requirements); comprehensiveness (all relevant payments to governments should be reported, in line with Chapter 10 of Directive 2013/34/EU and supporting recitals).
Države članice bi morale za namene preglednosti in varstva vlagateljev zahtevati uporabo naslednjih načel pri poročanju o plačilih vladam v skladu s poglavjem 10 Direktive 2013/34/EU: pomembnost (ne glede na to, ali gre za enkratno plačilo ali več povezanih plačil, posameznega plačila ni treba upoštevati v poročilu, če v okviru poslovnega leta ne presega 100000 EUR); poročanje vladam in za vsak projekt posebej (poročanje o plačilih vladam bi bilo treba izvajati za vsako vlado in vsak projekt posebej); univerzalnost (dovoljene niso nikakršne izjeme, na primer za izdajatelje, ki opravljajo dejavnost v določenih državah, ki bi imele izkrivljajoč učinek in bi izdajateljem omogočale izkoriščanje ohlapnih zahtev za preglednost); izčrpnost (poročati bi bilo treba o vseh ustreznih plačilih vladam, v skladu s poglavjem 10 Direktive 2013/34/EU in zadevnimi uvodnimi izjavami).
Financial innovation has led to the creation of new types of financial instruments that give investors economic exposure to companies, the disclosure of which has not been provided for in Directive 2004/109/EC.
Finančne inovacije so privedle do oblikovanja novih vrst finančnih instrumentov, s katerimi so vlagatelji ekonomsko izpostavljeni družbam, Direktiva 2004/109/ES pa ne predvideva razkritja te izpostavljenosti.
Those instruments could be used to secretly acquire stocks in companies, which could result in market abuse and give a false and misleading picture of economic ownership of publicly listed companies.
Te instrumente bi lahko uporabljali za skrivno pridobivanje deležev v družbah, kar bi lahko povzročilo zlorabo trga ter dalo napačno in zavajajočo sliko gospodarskega lastništva družb, ki kotirajo na borzi.
In order to ensure that issuers and investors have full knowledge of the structure of corporate ownership, the definition of financial instruments in that Directive should cover all instruments with similar economic effect to holding shares and entitlements to acquire shares.
Da bi zagotovili, da izdajatelji in vlagatelji v celoti poznajo lastniško strukturo družbe, bi morala opredelitev finančnih instrumentov v navedeni direktivi zajemati vse instrumente, ki imajo podoben gospodarski vpliv kot imetništvo delnic in upravičenost do pridobitve delnic.
Financial instruments with similar economic effect to holding shares and entitlements to acquire shares which provide for cash settlement should be calculated on a ‘delta-adjusted’ basis, by multiplying the notional amount of underlying shares by the delta of the instrument.
Finančne instrumente, ki imajo podoben gospodarski vpliv kot imetništvo delnic in upravičenost do pridobitve delnic ter omogočajo denarno poravnavo, bi bilo treba izračunati na „delta prilagojeni“ osnovi, tako da se nominalni znesek osnovnih delnic pomnoži z delto instrumenta.
Delta indicates how much a financial instrument’s theoretical value would move in the event of variation in the underlying instrument’s price and provides an accurate picture of the exposure of the holder to the underlying instrument.
Delta pomeni, za koliko bi se teoretična vrednost finančnega instrumenta spremenila ob spremembi cene osnovnega instrumenta, in predstavlja natančno sliko izpostavljenosti imetnika v razmerju do osnovnega instrumenta.
This approach is taken in order to ensure that the information about the total voting rights accessible by the investor is as accurate as possible.
Ta pristop zagotavlja, da so informacije o skupnem številu vlagatelju dostopnih glasovalnih pravic kar se da natančne.
In addition, in order to ensure adequate transparency of major holdings, where a holder of financial instruments exercises its entitlement to acquire shares and the total holdings of voting rights attaching to underlying shares exceed the notification threshold without affecting the overall percentage of the previously notified holdings, a new notification should be required to disclose the change in the nature of the holdings.
Da bi zagotovili ustrezno preglednost večjih lastniških deležev, bi bilo treba v primeru, kadar imetnik finančnih instrumentov uveljavlja upravičenost do pridobitve delnic in skupni delež glasovalnih pravic iz osnovnih delnic presega prag za obveščanje brez vpliva na skupni odstotek prej sporočenih deležev, zahtevati tudi novo obvestilo, v katerem se razkrije sprememba narave deležev.
A harmonised regime for notification of major holdings of voting rights, especially regarding the aggregation of holdings of shares with holdings of financial instruments, should improve legal certainty, enhance transparency and reduce the administrative burden for cross-border investors.
Z usklajeno ureditvijo za obveščanje o večjih lastniških deležih glasovalnih pravic, zlasti glede seštevanja imetništva delnic in imetništva finančnih instrumentov, bi izboljšali pravno varnost, povečali preglednost in zmanjšali upravne obremenitve čezmejnih vlagateljev.
Member States should therefore not be allowed to adopt more stringent rules than those provided for in Directive 2004/109/EC regarding the calculation of notification thresholds, aggregation of holdings of voting rights attaching to shares with holdings of voting rights relating to financial instruments, and exemptions from the notification requirements.
Državam članicam zato ne bi smelo biti dovoljeno, da v zvezi z izračunom pragov za obveščanje, seštevanjem deleža glasovalnih pravic iz delnic in deleža glasovalnih pravic, ki se nanašajo na finančne instrumente, ter izjemami od zahtev glede obveščanja sprejmejo strožja pravila od tistih iz Direktive 2004/109/ES.
However, taking into account the existing differences in ownership concentration in the Union, and the differences in company laws in the Union leading to the total number of shares differing from the total number of voting rights for some issuers, Member States should continue to be allowed to set both lower and additional thresholds for notification of holdings of voting rights, and to require equivalent notifications in relation to thresholds based on capital holdings.
Vendar bi moralo biti zaradi upoštevanja razlik v koncentraciji lastništva v Uniji in razlik v pravu družb v Uniji, zaradi katerih se pri nekaterih izdajateljih skupno število delnic razlikuje od skupnega števila glasovalnih pravic, državam članicam še naprej dovoljeno, da določijo nižje in dodatne pragove za obveščanje o deležih glasovalnih pravic ter zahtevajo enakovredna obvestila v zvezi s pragovi na podlagi kapitalskih deležev.
Moreover, Member States should continue to be allowed to set stricter obligations than those provided for in Directive 2004/109/EC with regard to the content (such as disclosure of shareholders’ intentions), the process and the timing for notification, and to be able to require additional information regarding major holdings not provided for by Directive 2004/109/EC.
Poleg tega bi moralo biti državam članicam še naprej dovoljeno, da v zvezi z vsebino (kot je razkritje namenov delničarjev), postopkom in časom obvestila določijo strožje obveznosti od tistih iz Direktive 2004/109/ES ter zahtevajo dodatne informacije o večjih lastniških deležih, ki v Direktivi 2004/109/ES niso predvidene.
In particular, Member States should also be able to continue to apply laws, regulations or administrative provisions adopted in relation to takeover bids, merger transactions and other transactions affecting the ownership or control of companies supervised by the authorities appointed by Member States pursuant to Article 4 of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids [7] that impose disclosure requirements more stringent than those in Directive 2004/109/EC.
Države članice bi tudi morale imeti še naprej možnost uporabljati zakone in druge predpise, ki nalagajo strožje zahteve za razkritje od tistih iz Direktive 2004/109/ES in se sprejmejo v zvezi s ponudbami za prevzem, združitvami in drugimi transakcijami, ki vplivajo na lastništvo ali nadzor nad družbami in jih nadzirajo organi, ki jih imenujejo države članice v skladu s členom 4 Direktive Evropskega parlamenta in Sveta 2004/25/ES z dne 21. aprila 2004 o ponudbah za prevzem [7].
Technical standards should ensure consistent harmonisation of the regime for notification of major holdings and adequate transparency levels.
S tehničnimi standardi bi morali zagotoviti dosledno usklajenost ureditve za obveščanje o večjih lastniških deležih in ustrezne ravni preglednosti.
It would be efficient and appropriate to entrust the European Supervisory Authority (European Securities and Markets Authority) (ESMA), established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council [8], with the elaboration, for submission to the Commission, of draft regulatory technical standards which do not involve policy choices.
Učinkovito in ustrezno bi bilo, da Evropski nadzorni organ (Evropski organ za vrednostne papirje in trge) (ESMA), ustanovljen z Uredbo (EU) št. 1095/2010 Evropskega parlamenta in Sveta [8] pripravi in Komisiji predloži osnutke regulativnih tehničnih standardov, ki ne vključujejo političnih odločitev.
The Commission should adopt the regulatory technical standards developed by ESMA to specify the conditions for the application of existing exemptions from the notification requirements for major holdings of voting rights.
Komisija bi morala sprejeti regulativne tehnične standarde, ki jih pripravi ESMA, za določitev pogojev za uporabo obstoječih izjem od zahtev glede obveščanja o večjih lastniških deležih glasovalnih pravic.
Using its expertise, ESMA should in particular determine the cases of exemptions while taking account of their possible misuse to circumvent notification requirements.
ESMA bi morala z uporabo svojega strokovnega znanja in izkušenj zlasti določiti primere izjem in pri tem upoštevati njihovo možno zlorabo zaradi izogibanja zahtevam glede obveščanja.
In order to take account of technical developments, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union (TFEU) should be delegated to the Commission to specify the contents of notification of major holdings of financial instruments.
Da bi se upošteval tehnični razvoj, bi bilo treba na Komisijo prenesti pooblastila, da v skladu s členom 290 Pogodbe o delovanju Evropske unije (PDEU) sprejme akte za določitev vsebine obvestila o večjih lastniških deležih finančnih instrumentov.
It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level.
Zlasti je pomembno, da Komisija med pripravljalnim delom opravi ustrezna posvetovanja, vključno na ravni strokovnjakov.
To facilitate cross-border investment, investors should be able to easily access regulated information for all listed companies in the Union.
Da bi poenostavili čezmejne naložbe, bi vlagatelji morali imeti lahek dostop do predpisanih informacij za vse družbe v Uniji, ki kotirajo na borzi.
However, the current network of officially appointed national mechanisms for the central storage of regulated information does not ensure an easy search for such information across the Union.
Vendar sedanje omrežje uradno določenih nacionalnih mehanizmov za centralizirano shranjevanje predpisanih informacij ne zagotavlja lahkega iskanja takšnih informacij v celotni Uniji.
In order to ensure cross-border access to information and to take account of technical developments in financial markets and in communication technologies, the power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission to specify minimum standards for dissemination of regulated information, access to regulated information at Union level and the mechanisms for the central storage of regulated information.
Da bi zagotovili čezmejni dostop do informacij in upoštevali tehnični razvoj na finančnih trgih in v komunikacijskih tehnologijah, bi bilo treba na Komisijo prenesti pooblastila, da v skladu s členom 290 PDEU sprejme akte za opredelitev minimalnih standardov za razširjanje predpisanih informacij, dostop do predpisanih informacij na ravni Unije in mehanizmov za centralizirano shranjevanje predpisanih informacij.
The Commission, with assistance of ESMA, should also be empowered to take measures to improve the functioning of the network of officially appointed national storage mechanisms and to develop technical criteria for access to regulated information at Union level, in particular, concerning the operation of a central access point for the search for regulated information at Union level.
Na Komisijo bi bilo treba ob pomoči ESMA prenesti tudi pooblastila, da sprejme ukrepe za izboljšanje delovanja omrežja uradno določenih nacionalnih mehanizmov za centralizirano shranjevanje in za oblikovanje tehničnih meril za dostop do predpisanih informacij na ravni Unije, zlasti glede delovanja osrednje točke dostopa za iskanje predpisanih informacij na ravni Unije.
ESMA should develop and operate a web portal serving as a European electronic access point (‘the access point’).
ESMA bi moral oblikovati in upravljati spletni portal, ki bi deloval kot evropska točka za elektronski dostop (v nadaljnjem besedilu: dostopna točka).
In order to improve compliance with the requirements of Directive 2004/109/EC and following the communication from the Commission of 9 December 2010 entitled ‘Reinforcing sanctioning regimes in the financial sector’, the sanctioning powers should be enhanced and should satisfy certain essential requirements in relation to addressees, criteria to be taken into account when applying an administrative sanction or measure, key sanctioning powers and levels of administrative pecuniary sanctions.
Za izboljšanje izpolnjevanja zahtev Direktive 2004/109/ES in na podlagi sporočila Komisije z dne 9. decembra 2010 z naslovom „Krepitev sistemov sankcij v sektorju finančnih storitev“ bi bilo treba okrepiti pooblastila za sankcioniranje, ki bi morala izpolnjevati nekatere bistvene zahteve v zvezi z naslovniki, merili, ki jih je treba upoštevati pri uporabi upravne sankcije ali ukrepa, ključnimi pooblastili za sankcioniranje in stopnjami upravnih denarnih sankcij.
Those sanctioning powers should be available at least in case of breach of key provisions of Directive 2004/109/EC.
Ta pooblastila za sankcioniranje bi morala biti na voljo vsaj ob kršitvi ključnih določb Direktive 2004/109/ES.
Member States should also be able to exercise them in other circumstances.
Države članice bi morale imeti možnost, da jih izvajajo tudi v drugih okoliščinah.
In particular, Member States should ensure that the administrative sanctions and measures that can be applied include the possibility of imposing pecuniary sanctions which are sufficiently high to be dissuasive.
Države članice bi morale zlasti zagotoviti, da upravne sankcije in ukrepi, ki jih je mogoče uporabiti, vključujejo možnost nalaganja denarnih sankcij, ki so dovolj visoke, da so odvračilne.