natgillin/translations-raw huggingface dataset:
As this Regulation addresses only restrictions on short selling and credit default swaps to prevent a disorderly decline in the price of a financial instrument, the need for other types of restrictions such as position limits or restrictions on products, which may give rise to serious investor protection concerns, are more appropriately considered in the context of the Commission’s revision of Directive 2004/39/EC.
Ker ta uredba obravnava le omejitve prodaje na kratko in poslov kreditnih zamenjav za preprečitev nenadzorovanega padca cene finančnih instrumentov, bi bilo potrebo po drugih vrstah omejitev, kot so omejitve pozicij ali omejitve produktov, ki lahko povzročijo resno zaskrbljenost glede varstva vlagateljev, primerneje obravnavati v okviru Komisijine revizije Direktive 2004/39/ES.
While competent authorities are usually best placed to monitor market conditions and to react initially to an adverse event or development by deciding if a serious threat to financial stability or to market confidence has arisen and whether it is necessary to take measures to address such a situation, powers in this regard and the conditions and procedures for their use should be harmonised as far as possible.
Čeprav so pristojni organi navadno najprimernejši za spremljanje razmer na trgu in prvo odzivanje na neugoden dogodek ali razvoj dogodkov, saj odločajo, ali je finančna stabilnost ali tržno zaupanje resno ogroženo in ali so potrebni ukrepi za rešitev takšnega položaja, bi morala biti pooblastila v zvezi s tem ter pogoji in postopki za njihovo uporabo čim bolj usklajeni.
In the case of a significant fall in the price of a financial instrument on a trading venue a competent authority should also have the ability to restrict temporarily short selling of the financial instrument on that venue within its own jurisdiction or to request that ESMA restrict such short selling in other jurisdictions in order to be able to intervene rapidly where appropriate and for a short period to prevent a disorderly decline in price of the instrument concerned.
V primeru znatnega padca cene finančnega instrumenta na mestu trgovanja bi moral imeti pristojni organ tudi možnost, da začasno omeji prodajo na kratko zadevnega finančnega instrumenta na tem mestu, ki sodi v njegovo jurisdikcijo, ali zahtevati, da ESMA omeji takšno prodajo na kratko v drugih jurisdikcijah z namenom hitrega ukrepanja ter tako za kratko obdobje prepreči nenadzorovan padec cene zadevnega instrumenta.
The competent authority should also be required to notify ESMA of such a decision so that ESMA can immediately inform the competent authorities of other Member States with venues which trade the same instrument, coordinate the taking of measures by those other Member States and, if necessary, assist them in reaching an agreement or take a decision itself, in accordance with Article 19 of Regulation (EU) No 1095/2010.
Pristojni organ bi moral biti tudi dolžan ESMA obvestiti o taki odločitvi, tako da lahko ESMA nemudoma obvesti pristojne organe drugih držav članic z mesti trgovanja, na katerih se trguje z istim instrumentom, uskladi sprejemanje ukrepov v teh državah članicah in jim po potrebi pomaga pri doseganju sporazuma ali pa sam sprejme odločitev v skladu s členom 19 Uredbe (EU) št. 1095/2010.
Where an adverse event or development extends beyond a single Member State or has other cross-border implications, for example if a financial instrument is admitted to trading on different trading venues in a number of different Member States, close consultation and cooperation between competent authorities is essential.
Če neugoden dogodek ali razvoj dogodkov zajema več kot eno državo članico ali ima druge čezmejne učinke, denimo v primeru, ko je finančni instrument uvrščen v trgovanje na različnih mestih trgovanja v več državah članicah, je tesno posvetovanje in sodelovanje med pristojnimi organi bistvenega pomena.
ESMA should perform a key coordination role in such a situation and should try to ensure consistency between competent authorities.
ESMA bi moral imeti v takšnih razmerah ključno usklajevalno vlogo in bi moral zagotavljati dosledno delovanje pristojnih organov.
The composition of ESMA, which includes representatives of competent authorities, will assist it in the performance of such a role.
Pri opravljanju te funkcije mu bo pomagalo dejstvo, da je ESMA sestavljen iz predstavnikov pristojnih organov.
In addition, competent authorities should have power to take measures where they have an interest in intervening.
Poleg tega, bi morali biti pristojni organi pristojni sprejemati ukrepe, kadar imajo interes posredovati.
In addition to coordinating measures by competent authorities, ESMA should ensure that measures are taken by competent authorities only where necessary and proportionate.
ESMA bi moral poleg usklajevanja ukrepov pristojnih organov zagotoviti tudi, da pristojni organi sprejmejo ukrepe samo, če je to nujno in sorazmerno.
ESMA should be able to give opinions to competent authorities on the use of powers of intervention.
ESMA bi moral biti zmožen pristojnim organom predložiti mnenja glede uporabe pooblastil za posredovanje.
While competent authorities will often be best placed to monitor and to react quickly to an adverse event or development, ESMA should also have the power to take measures where short selling and other related activities threaten the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union, where there are cross-border implications and competent authorities have not taken sufficient measures to address the threat.
Čeprav so pristojni organi navadno najprimernejši za spremljanje razmer na trgu in hitro odzivanje na neugoden dogodek ali razvoj dogodkov, bi moral biti tudi ESMA pooblaščen, za sprejetje ukrepov, če prodaja na kratko in druge povezane dejavnosti ogrožajo pravilno delovanje in integriteto finančnih trgov ali stabilnost celotnega finančnega sistema v Uniji ali njegovega dela, če obstajajo čezmejni učinki in pristojni organi niso sprejeli zadostnih ukrepov za odpravo ogroženosti.
ESMA should consult the European Systemic Risk Board (ESRB) established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board [6] where possible, and other relevant authorities where such a measure could have effects beyond the financial markets, as could be the case for commodity derivatives which are used to hedge physical positions.
Kadar bi lahko ukrep imel učinke, ki presegajo finančne trge, kot se lahko zgodi pri izvedenih finančnih instrumentih na blago, ki se uporabljajo za varovanje fizičnih pozicij, bi se moral ESMA, kadar je le mogoče, posvetovati z Evropskim odborom za sistemska tveganja (ESRB), ustanovljenim z Uredbo (EU) št. 1092/2010 Evropskega parlamenta in Sveta z dne 24. novembra 2010 o makrobonitetnem nadzoru nad finančnim sistemom Evropske unije in ustanovitvi Evropskega odbora za sistemska tveganja [6] in drugimi zadevnimi organi.
ESMA’s powers under this Regulation to restrict short selling and other related activities in exceptional circumstances are in accordance with Article 9(5) of Regulation (EU) No 1095/2010.
Pooblastila ESMA v skladu s to uredbo, da omeji prodajo na kratko in druge povezane dejavnosti v izjemnih razmerah, so oblikovana v skladu s členom 9(5) Uredbe (EU) št. 1095/2010.
Those powers should be without prejudice to the powers of ESMA in an emergency situation under Article 18 of Regulation (EU) No 1095/2010.
Ta pooblastila ne bi smela posegati v njegova pooblastila v izrednih razmerah v skladu s členom 18 Uredbe (EU) št. 1095/2010.
In particular, ESMA should be able to adopt individual decisions requiring competent authorities to take measures or individual decisions addressed to financial market participants under Article 18 of Regulation (EU) No 1095/2010.
ESMA bi moral biti zlasti pooblaščen za sprejemanje posameznih sklepov, v skladu s katerimi morajo pristojni organi sprejeti ukrepe, ali posameznih sklepov, naslovljenih na udeležence na finančnem trgu na podlagi člena 18 Uredbe (EU) št. 1095/2010.
References in this Regulation to Articles 18 and 38 of Regulation (EU) No 1095/2010 are of a declaratory nature.
Sklicevanja v tej uredbi na člena 18 in 38 Uredbe (EU) št. 1095/2010 so pojasnjevalnega značaja.
Those articles apply even in the absence of such references.
Navedena člena se uporabljata tudi brez takega sklicevanja.
Powers of intervention of competent authorities and ESMA to restrict short selling, credit default swaps and other transactions should be only of a temporary nature and should be exercised only for such a period and to the extent necessary to deal with the specific threat.
Pooblastila za posredovanje, ki jih imajo pristojni organi in ESMA, da omejijo prodajo na kratko, posle kreditnih zamenjav in druge transakcije, bi morala biti samo začasna ter se izvajati samo v obdobju in obsegu, ki so potrebna za odpravo določene grožnje.
Because of the specific risks which can arise from the use of credit default swaps, such transactions require close monitoring by competent authorities.
Zaradi posebnih tveganj, ki lahko nastanejo pri poslih kreditnih zamenjav, morajo pristojni organi te transakcije skrbno spremljati.
In particular, competent authorities should, in exceptional cases, have the power to require information from natural or legal persons entering into such transactions about the purpose for which the transaction is entered into.
Pristojni organi bi morali biti zlasti pooblaščeni, da v izjemnih primerih od fizičnih ali pravnih oseb, ki vstopajo v take transakcije, zahtevajo informacijo o namenu takšnega posla.
ESMA should be given power to conduct an inquiry into an issue or practice relating to short selling or the use of credit default swaps to assess whether that issue or practice poses any potential threat to financial stability or to market confidence.
ESMA bi moralo biti dodeljeno pooblastilo, da izvaja preiskave v zvezi z zadevo ali prakso, povezano s prodajo na kratko ali posli kreditnih zamenjav, da presodi, ali ta zadeva oziroma praksa morebiti ogroža finančno stabilnost ali tržno zaupanje.
ESMA should publish a report setting out its findings where it conducts such an inquiry.
Če ESMA izvede tako preiskavo, bi moral objaviti poročilo z ugotovitvami.
As some of the provisions of this Regulation apply to natural or legal persons and actions in third countries, it is necessary that competent authorities and supervisory authorities in third countries cooperate in certain situations.
Ker se nekatere določbe te uredbe uporabljajo za fizične ali pravne osebe in dejavnosti v tretjih državah, je potrebno da sodelovanje med pristojni organi in nadzorni organi v tretjih državah v določenih primerih sodelujejo.
Competent authorities should therefore enter into arrangements with supervisory authorities in third countries.
Pristojni organi bi zato morali skleniti dogovore z nadzornimi organi v tretjih državah.
ESMA should coordinate the development of such cooperation arrangements and the exchange between competent authorities of information received from third countries.
ESMA bi moral usklajevati oblikovanje takšnih dogovorov o sodelovanju in izmenjavo informacij, ki jih predložijo tretje države, med pristojnimi organi.
This Regulation respects the fundamental rights and observes the principles recognised in particular in the Treaty on the Functioning of the European Union (TFEU) and in the Charter of Fundamental Rights of the European Union (Charter), in particular the right to the protection of personal data provided for in Article 16 TFEU and in Article 8 of the Charter.
Ta uredba spoštuje temeljne pravice in upošteva načela, ki jih priznavata zlasti Pogodba o delovanju Evropske unije (PDEU) in Listina Evropske unije o temeljnih pravicah (Listina), zlasti pravico do varstva osebnih podatkov iz člena 16 PDEU in členu 8 Listine.
Transparency regarding significant net short positions, including public disclosure above a certain threshold, where provided for under this Regulation, is necessary for reasons of financial market stability and investor protection.
Preglednost v zvezi z znatnimi neto kratkimi pozicijami, vključno z javnim razkritjem ob preseganju določene mejne vrednosti, kakor je predvideno v tej uredbi, je potrebna zlasti zaradi stabilnosti finančnih trgov in varstva vlagateljev.
Such transparency will enable regulators to monitor the use of short selling in connection with abusive strategies and the implications of short selling on the proper functioning of the markets.
Takšna preglednost bo regulatornim organom omogočila, da spremljajo uporabo prodaje na kratko v povezavi z nezakonitimi strategijami in njihovim učinkom prodaje na kratko na pravilno delovanje trgov.
In addition, such transparency could help reduce information asymmetries, ensuring that all market participants are adequately informed about the extent to which short selling is affecting prices.
Poleg tega bi lahko takšna preglednost pomagala zmanjšati asimetrijo informacij in hkrati zagotavljala, da so vsi udeleženci na trgu ustrezno obveščeni o tem, v kolikšnem obsegu prodaja na kratko vpliva na cene.
Any exchange or transmission of information by competent authorities should take place in accordance with the rules on the transfer of personal data as laid down in Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data [7].
Vsaka izmenjava ali prenos informacij med pristojnimi organi bi morala biti v skladu s pravili o prenosu osebnih podatkov iz Direktive 95/46/ES Evropskega parlamenta in Sveta z dne 24. oktobra 1995 o varstvu posameznikov pri obdelavi osebnih podatkov in o prostem pretoku takih podatkov [7].
Any exchange or transmission of information by ESMA should take place in accordance with the rules on the transfer of personal data as laid down in Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data [8], which should be fully applicable to the processing of personal data for the purposes of this Regulation.
Vsaka izmenjava ali prenos informacij s strani ESMA bi moral biti v skladu s pravili o prenosu osebnih podatkov iz Uredbe (ES) št. 45/2001 Evropskega parlamenta in Sveta z dne 18. decembra 2000 o varstvu posameznikov pri obdelavi osebnih podatkov v institucijah in organih Skupnosti in o prostem pretoku takih podatkov [8]; ta pravila bi se morala dosledno uporabljati za obdelavo osebnih podatkov za namene te uredbe.
Taking into consideration the principles set out in the Commission’s Communication on reinforcing sanctioning regimes in the financial services sector and legal acts of the Union adopted as a follow-up to that Communication, Member States should lay down rules on penalties and administrative measures applicable to infringements of the provisions of this Regulation and should ensure that they are implemented.
Države članice bi morale ob upoštevanju načel iz sporočila Komisije o okrepitvi sistemov sankcij v sektorju finančnih storitev in pravnih aktov Unije, sprejetih na podlagi izsledkov navedenega sporočila, določiti pravila glede kazni in administrativnih ukrepov, ki se uporabljajo za kršitve določb te uredbe, in zagotoviti, da se izvajajo.
Those penalties and administrative measures should be effective, proportionate and dissuasive.
Te kazni in administrativni ukrepi, bi morali biti učinkovite, sorazmerni in odvračilni.
They should be based on guidelines adopted by ESMA to promote convergence and cross-sector consistency of penalty regimes in the financial sector.
Temeljiti bi morali na smernicah, ki jih je sprejel ESMA za spodbujanje konvergence in medsektorske usklajenosti sistemov kazni v finančnem sektorju.
The power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission in respect of details concerning calculating short positions, where a natural or legal person has an uncovered position in a credit default swap, notification or disclosure thresholds and further specification of criteria and factors for determining in which cases an adverse event or development creates a serious threat to financial stability or to market confidence in a Member State or the Union.
Na Komisijo bi bilo treba v skladu s členom 290 PDEU prenesti pooblastila za sprejemanje delegiranih aktov v zvezi s podrobnostmi izračuna kratkih pozicij, kadar ima fizična ali pravna oseba nekrito pozicijo v poslih kreditnih zamenjav, s pragi za priglasitev ali razkritje ter z dodatnimi opredelitvami meril in dejavnikov za določanje v katerih primerih neugoden dogodek ali razvoj resno ogroža finančno stabilnost ali tržno zaupanje v državi članici ali Uniji.
It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at the level of experts of the relevant institutions, authorities and agencies, where appropriate.
Zlasti je pomembno, da Komisija pri svojem pripravljalnem delu opravi ustrezna posvetovanja, vključno na ravni strokovnjakov ustreznih institucij, organov in agencij, kadar je to primerno.
The Commission should submit a report to the European Parliament and the Council assessing the appropriateness of the notification and public disclosure thresholds provided for, the operation of the restrictions and requirements relating to the transparency of net short positions, and whether any other restrictions or conditions on short selling or credit default swaps are appropriate.
Komisija bi morala Evropskemu parlamentu in Svetu predložiti poročilo o primernosti predvidenih pragov za priglasitev in javno razkritje, o izvajanju omejitev in zahtev v zvezi s preglednostjo neto kratkih pozicij ter o smotrnosti kakšnih drugih omejitev ali pogojev v zvezi s prodajo na kratko in posli kreditnih zamenjav.
Since the objectives of this Regulation cannot be sufficiently achieved by the Member States, although competent authorities are better placed to monitor, and have better knowledge of, market developments, the overall impact of the problems relating to short selling and credit default swaps can be fully perceived only in a Union context, and can therefore be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union.
Ker ciljev te uredbe države članice ne morejo zadovoljivo doseči, čeprav so pristojni organi primernejši za spremljanje razvoja na trgu in ga bolje poznajo, se lahko celoten učinek težav, povezanih s prodajo na kratko in posli kreditnih zamenjav, v celoti zajame samo na ravni Unije, in je zato cilje te uredbe mogoče bolje doseči na ravni Unije, ki lahko sprejme ukrepe v skladu z načelom subsidiarnosti iz člena 5 Pogodbe o Evropski uniji.
In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives.
V skladu z načelom sorazmernosti iz navedenega člena ta uredba ne presega tistega, kar je potrebno za doseganje teh ciljev.
Since some Member States have already put in place restrictions on short selling and since this Regulation provides for delegated acts and binding technical standards which should be adopted before it can be usefully applied, it is necessary to provide for a sufficient period of time for transitional purposes.
Ker so nekatere države članice že uvedle omejitve prodaje na kratko in ker ta uredba predvideva delegirane akte in zavezujoče tehnične standarde, ki bi morali biti sprejeti preden bi se lahko ustrezno uporabljala, bi bilo treba predvideti dovolj dolgo prehodno obdobje.
Since it is essential to specify, before 1 November 2012, key non-essential elements which will facilitate compliance by market participants with this Regulation and enforcement by competent authorities, it is also necessary to provide the Commission with the means to adopt the technical standards and delegated acts before that date,
Ker je bistvenega pomena, da se pred 1. novembrom 2012 natančno določi ključne nebistveni elementi, ki bodo zagotovili usklajenost udeležencev na trgu s to uredbo in izvajanje s strani pristojnih organov, je pred tem datumom potrebno Komisiji zagotoviti tudi sredstva za sprejete tehničnih standardov in delegiranih aktov –
financial instruments within the meaning of point (a) of Article 2(1) that are admitted to trading on a trading venue in the Union, including such instruments when traded outside a trading venue;
finančne instrumente, v smislu točke (a) člena 2(1), ki so uvrščeni v trgovanje na mestu trgovanja v Uniji, vključno z instrumenti, s katerimi se trguje zunaj mesta trgovanja;
derivatives referred to in points (4) to (10) of Section C of Annex I to Directive 2004/39/EC that relate to a financial instrument referred to in point (a) or to an issuer of such a financial instrument, including such derivatives when traded outside a trading venue;
izvedene finančne instrumente iz točk (4) do (10) oddelka C Priloge I k Direktivi 2004/39/ES, ki so povezani s finančnim instrumentom iz točke (a) ali z izdajateljem finančnega instrumenta, vključno z izvedenimi finančnimi instrumenti, s katerimi se trguje zunaj mesta trgovanja;
debt instruments issued by a Member State or the Union and derivatives referred to in points (4) to (10) of Section C of Annex I to Directive 2004/39/EC that relate or are referenced to debt instruments issued by a Member State or the Union.
dolžniške instrumente, ki jih izda država članica ali Unija, in izvedene finančne instrumente iz točk (4) do (10) oddelka C Priloge I k Direktivi 2004/39/ES, ki so povezani z dolžniškimi instrumenti, ki jih izda država članica ali Unija, ali se nanje sklicujejo.
Articles 18, 20 and 23 to 30 shall apply to all financial instruments within the meaning of point (a) of Article 2(1).
Členi 18, 20 ter 23 do 30 se uporabljajo za vse finančne instrumente v smislu točke (a) člena 2(1).
For the purpose of this Regulation, the following definitions apply:
Za namene te uredbe se uporabljajo naslednje opredelitve:
‘financial instrument’ means an instrument listed in Section C of Annex I to Directive 2004/39/EC;
„finančni instrument“ pomeni kateri koli instrument iz oddelka C Priloge I k Direktivi 2004/39/ES;
‘short sale’ in relation to a share or debt instrument means any sale of the share or debt instrument which the seller does not own at the time of entering into the agreement to sell including such a sale where at the time of entering into the agreement to sell the seller has borrowed or agreed to borrow the share or debt instrument for delivery at settlement, not including:
„prodaja na kratko“ v zvezi z delnico ali dolžniškim instrumentom pomeni vsakršno prodajo delnice ali dolžniškega instrumenta, ki ga prodajalec v času sklenitve dogovora o prodaji ne poseduje, vključno s prodajo, pri kateri si je prodajalec v času sklenitve dogovora o prodaji delnico ali dolžniški instrument izposodil ali se dogovoril o njeni oziroma njegovi izposoji za izročitev ob poravnavi, kar ne vključuje:
a sale by either party under a repurchase agreement where one party has agreed to sell the other a security at a specified price with a commitment from the other party to sell the security back at a later date at another specified price;
prodaje s strani ene ali druge stranke v okviru dogovora o začasni prodaji, pri katerem ena stranka privoli, da bo drugi prodala vrednostni papir po določeni ceni, druga pa se zaveže, da ji bo vrednostni papir pozneje prodala po drugačno določeni ceni;
a transfer of securities under a securities lending agreement; or
prenosa vrednostnih papirjev na podlagi dogovora o posojanju vrednostnih papirjev, ali