natgillin/translations-raw huggingface dataset:
Therefore, specific provisions in relation to benchmarks are required in order to preserve the integrity of the markets and ensure that competent authorities can enforce a clear prohibition of the manipulation of benchmarks.
Manipulacija ali poskus manipulacije s finančnimi instrumenti je lahko tudi oddaja naročil, ki se morda ne bodo izvršila.
Those provisions should cover all published benchmarks including those accessible through the internet whether free of charge or not such as CDS benchmarks and indices of indices.
Poleg tega se lahko s finančnim instrumentom manipulira tudi prek ravnanja izven mesta trgovanja.
It is necessary to complement the general prohibition of market manipulation by prohibiting the manipulation of the benchmark itself and the transmission of false or misleading information, provision of false or misleading inputs, or any other action that manipulates the calculation of a benchmark, where that calculation is broadly defined to include the receipt and evaluation of all data which relates to the calculation of that benchmark and include in particular trimmed data, and including the benchmark’s methodology, whether algorithmic or judgement-based in whole or in part.
Osebe, ki se v okviru svojega poklica dogovarjajo ali izvajajo posle, bi morale vzpostaviti in ohranjati učinkovito ureditev, sisteme in postopke za odkrivanje sumljivih poslov in poročanje o njih.
Those rules are in addition to Regulation (EU) No 1227/2011 which prohibits the deliberate provision of false information to undertakings which provide price assessments or market reports on wholesale energy products with the effect of misleading market participants acting on the basis of those price assessments or market reports.
Prav tako bi morale poročati o sumljivih naročilih in poslih, ki se izvajajo izven mesta trgovanja.
In order to ensure uniform market conditions between trading venues and facilities subject to this Regulation, any person who operates regulated markets, MTFs and OTFs should be required to establish and to maintain effective arrangements, systems and procedures aimed at preventing and detecting market manipulation and abusive practices.
Razširjanje napačnih ali zavajajočih informacij lahko bistveno vpliva na cene finančnih instrumentov v razmeroma kratkem času.
Manipulation or attempted manipulation of financial instruments may also consist in placing orders which may not be executed.
Lahko je izmišljanje očitno napačnih informacij, pa tudi namerna izpustitev pomembnih dejstev in zavestno netočno poročanje o informacijah.
Furthermore, a financial instrument may be manipulated through behaviour which occurs outside a trading venue.
Ta oblika tržne manipulacije je zlasti škodljiva za vlagatelje, ker svoje naložbene odločitve sprejemajo na podlagi napačnih ali izkrivljenih informacij.
Persons professionally arranging or executing transactions should be required to establish and to maintain effective arrangements, systems and procedures in place to detect and report suspicious transactions.
Škodi tudi izdajateljem, ker zmanjšuje njihovo zaupanje v razpoložljive informacije, povezane z njimi.
The mani pulation or attempted manipulation of financial instruments may also consist in disseminating false or misleading information.
Informacije se na trgu zelo hitri širijo.
The spreading of false or misleading information can have a significant impact on the prices of financial instruments in a relatively short period of time.
Zato lahko povzročanje škode vlagateljem in izdajateljem traja razmeroma dolgo, preden se ugotovi, da so informacije napačne ali zavajajoče, in preden jih lahko izdajatelj ali oseba, odgovorna za razširjanje, popravi.
It may consist in the invention of manifestly false information, but also the wilful omission of material facts, as well as the knowingly inaccurate reporting of information.
Zato je treba razširjanje napačnih ali zavajajočih informacij, vključno z govoricami in napačnimi ali zavajajočimi novicami, obravnavati kot kršitev te uredbe.
That form of market manipulation is particularly harmful to investors, because it causes them to base their investment decisions on incorrect or distorted information.
Zato je ustrezno, da se tistim, ki delujejo na finančnih trgih, ne dovoli, da v škodo vlagateljev in izdajateljev ter v nasprotju z lastnim mnenjem ali dobro presojo svobodno razširjajo informacije, za katere vedo ali bi morali vedeti, da so napačne ali zavajajoče.
It is also harmful to issuers, because it reduces the trust in the available information related to them.
Ker se vse bolj uporabljajo spletna mesta, spletni dnevniki in družabni mediji, je treba pojasniti, da bi bilo treba razširjanje napačnih ali zavajajočih informacij prek spleta, tudi na spletnih mestih družabnih medijev ali v spletnih dnevnikih, katerih avtor ni znan, za namene te uredbe šteti za enakovredno, kot če se to stori prek bolj tradicionalnih komunikacijskih kanalov.
A lack of market trust can in turn jeopardise an issuer’s ability to issue new financial instruments or to secure credit from other market participants in order to finance its operations.
Za preprečevanje trgovanja z notranjimi informacijami in zavajanja vlagateljev je bistveno, da izdajatelj razkrije notranje informacije javnosti.
Information spreads through the market place very quickly.
Zato bi bilo treba od izdajateljev zahtevati, da notranje informacije čim prej sporočijo javnosti.
As a result, the harm to investors and issuers may persist for a relatively long time until the information is found to be false or misleading, and can be corrected by the issuer or those responsible for its dissemination.
Vendar lahko ta obveznost v posebnih okoliščinah posega v pravno upravičene interese izdajatelja.
It is therefore necessary to qualify the spreading of false or misleading information, including rumours and false or misleading news, as being an infringement of this Regulation.
V takih okoliščinah bi bilo treba dovoliti odložitev razkritja, če ni verjetno, da bi bila javnost zaradi odložitve zavedena, in če lahko izdajatelj zagotovi zaupnost informacij.
It is therefore appropriate not to allow those active in the financial markets to freely express information contrary to their own opinion or better judgement, which they know or should know to be false or misleading, to the detriment of investors and issuers.
Za izdajatelja obveznost razkritja notranjih informacij velja samo, če je zahteval ali odobril uvrstitev finančnega instrumenta v trgovanje.
Given the rise in the use of websites, blogs and social media, it is important to clarify that disseminating false or misleading information via the internet, including through social media sites or unattributable blogs, should be considered, for the purposes of this Regulation, to be equivalent to doing so via more traditional communication channels.
Za namene uporabe zahtev v zvezi z javnim razkritjem notranjih informacij in odložitev takega javnega razkritja, kot je določeno v tej uredbi se upravičeni interesi lahko zlasti nanašajo na naslednje primeroma navedene okoliščine: (a) pogajanja v teku ali elementi, povezani z njimi, kadar bi razkritje javnosti verjetno vplivalo na izid ali normalen potek teh pogajanj.
The public disclosure of inside information by an issuer is essential to avoid insider dealing and ensure that investors are not misled.
Zlasti kadar je finančna sposobnost izdajatelja v resni in v neposredni nevarnosti, četudi še ne v obsegu, za katerega se uporablja zakonodaja o plačilni nesposobnosti, se razkritje informacij javnosti lahko odloži za omejeno obdobje, če bi takšno razkritje javnosti resno ogrozilo interese obstoječih ali potencialnih delničarjev, s tem ko bi spodkopalo zaključek določenih pogajanj, načrtovanih za zagotovitev dolgoročne finančne sanacije izdajatelja; (b) odločitve, ki jih je sprejel poslovodni organ izdajatelja, ali pogodbe, ki jih je sklenil, za katere je potrebna odobritev drugega organa izdajatelja, da postanejo veljavne, kadar organiziranost takega izdajatelja zahteva razmejitev med tema organoma, pod pogojem, da bi razkritje informacij javnosti pred takšno odobritvijo skupaj s sočasno objavo, da postopek odobritve še ni končan, ogrozilo pravilno oceno informacij s strani javnosti.
Issuers should therefore be required to inform the public as soon as possible of inside information.
Poleg tega mora zahteva razkritja notranjih informacij veljati za udeležence na trgu pravic do emisije.
However that obligation may, under special circumstances, prejudice the legitimate interests of the issuer.
Za preprečitev izpostavljanja trga nekoristnemu poročanju in za ohranitev stroškovne učinkovitosti predvidenega ukrepa, se zdi, da se lahko omeji regulatorni vpliv te zahteve le na operaterje EU ETS, za katere se lahko zaradi njihove velikosti in dejavnosti razumno pričakuje, da bodo pomembno vplivali na ceno pravic do emisije, finančnih produktov na dražbi na podlagi teh pravic, ali na izvedene finančne instrumente, povezane s tem, ter za licitiranje na dražbah v skladu z Uredbo (EU) št. 1031/2010.
In such circumstances, delayed disclosure should be permitted provided that the delay would not be likely to mislead the public and the issuer is able to ensure the confidentiality of the information.
Komisija bi morala sprejeti ukrepe, na podlagi katerih bi se z delegiranim aktom določil najnižji prag za namene uporabe tega izvzetja.
The issuer is only under an obligation to disclose inside information if it has requested or approved admission of the financial instrument to trading.
Informacije, ki jih je treba razkriti, bi se morale nanašati na fizično delovanje strani, ki informacije razkrije, ne pa na njene načrte ali strategije za trgovanje s pravicami do emisije, finančne proizvode na dražbi na podlagi teh pravic ali na izvedene finančne instrumente, povezane s tem.
For the purposes of applying the requirements relating to public disclosure of inside information and delaying such public disclosure, as provided for in this Regulation, legitimate interests may, in particular, relate to the following non-exhaustive circumstances: (a) ongoing negotiations, or related elements, where the outcome or normal pattern of those negotiations would be likely to be affected by public disclosure.
Kadar udeleženci na trgu s pravicami do emisije že izpolnjujejo enakovredne zahteve razkritja notranjih informacij, zlasti v skladu z Uredbo (EU) št. 1227/2011, obveznost razkritja notranjih informacij glede pravic do emisije ne bi smele povzročiti podvajanja obveznih razkrivanj, ki imajo bistveno enako vsebino.
In particular, in the event that the financial viability of the issuer is in grave and imminent danger, although not within the scope of the applicable insolvency law, public disclosure of information may be delayed for a limited period where such a public disclosure would seriously jeopardise the interest of existing and potential shareholders by undermining the conclusion of specific negotiations designed to ensure the long-term financial recovery of the issuer; (b) decisions taken or contracts made by the management body of an issuer which need the approval of another body of the issuer in order to become effective, where the organisation of such an issuer requires the separation between those bodies, provided that public disclosure of the information before such approval, together with the simultaneous announcement that the approval remains pending, would jeopardise the correct assessment of the information by the public.
Pri udeležencih na trgu s pravicami do emisije, katerih skupne emisije ali nazivna vhodna toplotna moč je enaka določenemu pragu ali nižja, bi se moralo za informacije o njihovem fizičnem delovanju, za katere se šteje, da niso bistvene za namene razkritja, šteti tudi, da ne vplivajo znatno na ceno pravic do emisije, finančne produkte na dražbi na podlagi teh pravic, ali na cene z njimi povezanih izvedenih finančnih instrumentov.
Moreover, the requirement to disclose inside information needs to be addressed to the participants in the emission allowance market.
Za take udeležence na trgu s pravicami do emisije bi morala vseeno veljati prepoved trgovanja z notranjimi informacijami v zvezi s kakršnimi koli drugimi informacijami, do katerih imajo dostop in ki so notranje informacije.
In order to avoid exposing the market to reporting that is not useful and to maintain cost-efficiency of the measure foreseen, it appears necessary to limit the regulatory impact of that requirement to only those EU ETS operators which, by virtue of their size and activity, can reasonably be expected to be able to have a significant effect on the price of emission allowances, of auctioned products based thereon, or of derivative financial instruments relating thereto and for bidding in the auctions pursuant to Regulation (EU) No 1031/2010.
Da bi zaščitili javni interes, ohranili stabilnost finančnega sistema in na primer preprečili, da bi se likvidnostne krize finančnih institucij spremenile v krizo solventnosti zaradi nenadnega umika sredstev, bi bilo v izrednih okoliščinah primerno dovoliti odložitev razkritja notranjih informacij za kreditne institucije ali finančne institucije.
The Commission should adopt measures establishing a minimum threshold for the purposes of application of that exemption by means of a delegated act.
To lahko zlasti velja za informacije, povezane z začasnimi likvidnostnimi težavami, kadar potrebujejo posojila centralne banke, vključno z nujno likvidnostno pomočjo centralne banke, če bi razkritje informacij imelo sistemski učinek.
The information to be disclosed should concern the physical operations of the disclosing party and not own plans or strategies for trading emission allowances, auctioned products based thereon, or derivative financial instruments relating thereto.
Ta odložitev bi morala biti pogojena s tem, da izdajatelj pridobi soglasje ustreznega pristojnega organa, pri čemer mora biti jasno, da širši javni in gospodarski interes odložitve razkritja pretehta nad tržnim interesom pri prejetju informacij, za katere velja odložitev.
Where emission allowance market participants already comply with equivalent inside information disclosure requirements, notably pursuant to Regulation (EU) No 1227/2011, the obligation to disclose inside information concerning emission allowances should not lead to the duplication of mandatory disclosures with substantially the same content.
Glede finančnih institucij, zlasti kadar prejemajo posojila centralne banke, vključno z nujno likvidnostno pomočjo, bi morali pristojni organi oceniti, ali so informacije sistemsko pomembne in ali je odložitev razkritja teh informacij v javnem interesu, pri tem pa se po potrebi posvetovati z nacionalno centralno banko, makrobonitetnim nadzornim organom ali vsemi drugimi ustreznimi nacionalnimi organi.
In the case of participants in the emission allowance market with aggregate emissions or rated thermal input at or below the threshold set, since the information about their physical operations is deemed to be non-material for the purposes of disclosure, it should also be deemed not to have a significant effect on the price of emission allowances, of auctioned products based thereon, or of the derivative financial instruments relating thereto.
Uporaba ali poskus uporabe notranjih informacij za trgovanje za lasten račun ali za račun tretje osebe bi morala biti jasno prepovedana.
Such participants in the emission allowance market should nevertheless be covered by the prohibition of insider dealing in relation to any other information they have access to and which is inside information.
Uporaba notranjih informacij je lahko tudi trgovanje s pravicami do emisije in z iz njih izvedenimi finančnimi instrumenti in licitiranje pravic do emisije ali drugih finančnih produktov na dražbi na podlagi teh pravic v skladu z Uredbo (EU) št. 1031/2010 s strani oseb, ki vedo ali bi morale vedeti, da so informacije, ki jih imajo, notranje informacije.
In order to protect the public interest, to preserve the stability of the financial system and, for example, to avoid liquidity crises in financial institutions from turning into solvency crises due to a sudden withdrawal of funds, it may be appropriate to allow, in exceptional circumstances, the delay of the disclosure of inside information for credit institutions or financial institutions.
Informacije o načrtih udeleženca na trgu in njegovih strategijah trgovanja ne bi smele šteti za notranje informacije, informacije o načrtih tretje osebe in njenih strategijah trgovanja pa lahko veljajo za notranje informacije.
In particular, this may apply to information pertinent to temporary liquidity problems, where they need to receive central banking lending including emergency liquidity assistance from a central bank where disclosure of the information would have a systemic impact.
Seznami oseb z dostopom do notranjih informacij so pomembno orodje regulatorjev pri preiskovanju morebitne zlorabe trga, vendar nacionalne razlike glede podatkov, ki jih je treba vključiti na te sezname, povzročajo nepotrebno upravno breme za izdajatelje.
This delay should be conditional upon the issuer obtaining the consent of the relevant competent authority and it being clear that the wider public and economic interest in delaying disclosure outweighs the interest of the market in receiving the information which is subject to delay.
Za zmanjšanje teh stroškov bi morala biti podatkovna polja seznamov oseb z dostopom do notranjih informacij enotna.
In respect of financial institutions, in particular where they receive central bank lending, including emergency liquidity assistance, the assessment of whether the information is of systemic importance and whether delay of disclosure is in the public interest should be made by the competent authority, after consulting, as appropriate, the national central bank, the macro-prudential authority or any other relevant national authority.
Pomembno je tudi, da so osebe, ki so na seznamu oseb z dostopom do notranjih informacij, obveščene o tem in o posledicah v skladu s to uredbo in Direktivo 2014/57/EU Evropskega parlamenta in Sveta [11].
The use or attempted use of inside information to trade on one’s own account or on the account of a third party should be clearly prohibited.
Zahteva za pripravo in stalno posodabljanje seznamov oseb z dostopom do notranjih informacij povzroča upravno breme, in sicer zlasti za izdajatelje na zagonskih trgih MSP.
Use of inside information can also consist of trading in emission allowances and derivatives thereof and of bidding in the auctions of emission allowances or other auctioned products based thereon that are held pursuant to Regulation (EU) No 1031/2010 by persons who know, or who ought to know, that the information they possess constitutes inside information.
Ker lahko pristojni organi nadzor nad zlorabo trga v primeru navedenih izdajateljev izvajajo učinkovito tudi brez stalnega dostopa do teh seznamov, bi morali biti ti izdajatelji izvzeti iz te obveznosti, da se zmanjšajo upravni stroški zaradi te uredbe.
Nevertheless, prompt disclosure of inside information is essential to ensure investor confidence in those issuers.
Taki seznami lahko izdajateljem ali tem osebam koristijo, da nadzorujejo pretok notranjih informacij, in jim na ta način pomagajo opravljati dolžnosti glede zaupnosti.
Therefore, ESMA should be able to issue guidelines which assist issuers to comply with the obligation to disclose inside information without compromising investor protection.
Poleg tega so lahko taki seznami koristno orodje za pristojne organe, da prepoznajo vse osebe, ki imajo dostop do notranjih informacij, in datum, na katerega so jim postale dostopne.
Insider lists are an important tool for regulators when investigating possible market abuse, but national differences in regard to data to be included in those lists impose unnecessary administrative burdens on issuers.
Dostop oseb, uvrščenih na tak seznam, do notranjih informacij, ki se posredno ali neposredno nanašajo na izdajatelja, ne posega v prepovedi, določene v tej uredbi.
Data fields required for insider lists should therefore be uniform in order to reduce those costs.
Večja preglednost poslov, ki jih izvajajo osebe, ki pri izdajateljih opravljajo poslovodne naloge, in, kadar je primerno, tudi osebe, ki so z njimi tesno povezane, je preventivni ukrep za preprečevanje zlorabe trga, zlasti za trgovanje z notranjimi informacijami.
It is important that persons included on insider lists are informed of that fact and of its implications under this Regulation and Directive 2014/57/EU of the European Parliament and of the Council [11].
Objava teh poslov vsaj na individualni ravni je za vlagatelje lahko zelo koristen vir informacij.
The requirement to keep and constantly update insider lists imposes administrative burdens specifically on issuers on SME growth markets.
Pojasniti je treba, da obveznost objave poslov vodilnih delavcev zajema tudi zastavljanje ali posojanje finančnih instrumentov, saj lahko zastavitev delnic v primeru nenadne in nepredvidene odtujitve privede do pomembnega in morebiti destabilizacijskega učinka na družbo.
As competent authorities are able to exercise effective market abuse supervision without having those lists available at all times for those issuers, they should be exempt from this obligation in order to reduce the administrative costs imposed by this Regulation.
Brez razkritja trg na primer ne bi vedel, da obstaja večja možnost za prihodnjo obsežno spremembo v lastništvu delnic, večjo ponudbo delnic na trgu ali izgubo glasovalnih pravic v tej družbi.
However, such issuers should provide an insider list to the competent authorities upon request.
Iz tega razloga je treba poročati v skladu s to uredbo, kadar bo zastavitev vrednostnih papirjev potekala kot del širšega posla, pri katerem vodilni delavec zastavi vrednostne papirje kot jamstvo za pridobitev posojila od tretje osebe.
The establishment, by issuers or any person acting on their behalf or account, of lists of persons working for them under a contract of employment or otherwise and having access to inside information relating, directly or indirectly, to the issuer, is a valuable measure for protecting market integrity.
Poleg tega je popolna in pravilna preglednost trga osnovni pogoj za zaupanje tržnih akterjev ter zlasti za zaupanje delničarjev družbe.
Such lists may serve issuers or such persons to control the flow of inside information and thereby help manage their confidentiality duties.
Potrebna je tudi za pojasnitev, da obveznost objavljanja teh poslov vodilnih delavcev vključuje posle drugih oseb, ki izvajajo diskrecijske pravice vodilnih delavcev.
Moreover, such lists may also constitute a useful tool for competent authorities to identify any person who has access to inside information and the date on which they gained access.
Za zagotovitev ustreznega ravnovesja med ravnjo preglednosti ter številom poročil, o katerih so uradno obveščeni pristojni organi in javnost, bi bilo treba v tej uredbi uvesti prage, pod katerimi o poslih ni treba uradno obveščati.
Access to inside information relating, directly or indirectly, to the issuer by persons included on such a list is without prejudice to the prohibitions laid down in this Regulation.
Poročanje o poslih, ki jih za lasten račun izvedejo osebe, ki opravljajo poslovodne naloge, ali oseba, tesno povezana z njim, ni le dragocena informacija udeležencem trga, ampak tudi dodaten način, s katerim pristojni organi nadzorujejo trge.
Greater transparency of transactions conducted by persons discharging managerial responsibilities at the issuer level and, where applicable, persons closely associated with them, constitutes a preventive measure against market abuse, particularly insider dealing.
Obveznost poročanja o poslih ne posega v prepovedi, določene v tej uredbi.
The publication of those transactions on at least an individual basis can also be a highly valuable source of information to investors.
Poročanje o poslih bi moralo biti v skladu s pravili o posredovanju osebnih podatkov iz Direktive 95/46/ES Evropskega parlamenta in Sveta [12].