natgillin/translations-raw huggingface dataset:
According to the first condition, CCPs authorised in a third country must comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012.
V skladu s prvim pogojem morajo CNS z dovoljenjem v tretji državi izpolnjevati pravno zavezujoče zahteve, ki so enakovredne zahtevam iz naslova IV Uredbe (EU) št. 648/2012.
The legally binding requirements of South Korea for CCPs authorised therein consist of the Financial Investment Services and Capital Markets Act 2013 (‘FSCMA’), including a number of subordinated regulations implementing the FSCMA.
Pravno zavezujoče zahteve Južne Koreje za CNS z dovoljenjem v tej državi sestavlja Zakon o storitvah finančnih naložb in kapitalskih trgih iz leta 2013, vključno z več podrejenimi predpisi o izvajanju tega zakona.
CCPs are authorised by the Financial Services Commission (‘FSC’).
CNS dovoljenje pridobijo od Komisije za finančne storitve (Financial Services Commission, v nadaljnjem besedilu: FSC).
To grant an authorisation for clearing, the FSC must be satisfied, among other things, that the CCP has equity capital equivalent to the established regulatory minimum, has a proper and sound business plan, has human resources, data-processing equipment and other physical facilities sufficient to protect investors and to conduct clearing business, does not have any officer who is disqualified under the FSCMA, has in place a system for preventing conflicts of interest and its shareholders have adequate financial capabilities, are of good financial standing and social credibility.
Za izdajo dovoljenja za kliring se mora FSC med drugim prepričati, da osnovni kapital CNS dosega določen regulativni minimum, da ima pravilen in dober poslovni načrt, dovolj človeških virov, opreme za obdelavo podatkov in drugih fizičnih objektov za zaščito vlagateljev in opravljanje klirinških storitev, da noben od uradnikov nima prepovedi opravljanja funkcij v skladu z Zakonom o storitvah finančnih naložb in kapitalskih trgih, da ima vzpostavljen sistem za preprečevanje navzkrižij interesov in da imajo njeni delničarji zadostne finančne zmogljivosti, da so v dobrem finančnem položaju in družbeno verodostojni.
Authorised CCPs are then subject to ongoing supervision by the FSC, as well as oversight by the Bank of Korea under the Bank of Korea Act.
FSC je marca 2015 izdala poslovne smernice za infrastrukture finančnega trga, ki navajajo posebne standarde, ki jih morajo infrastrukture finančnega trga izpolnjevati pri poslovanju v skladu z Zakonom o storitvah finančnih naložb in kapitalskih trgih ter podrejenimi predpisi.
The FSC has stated its intention to assess its Financial Market infrastructures (‘FMIs’) against the international standards set out under the Principles for Financial Market Infrastructures (‘PFMIs’) issued in April 2012 by the Committee on Payment and Settlement Systems [2] ( ‘CPSS’) and the International Organization of Securities Commissions (‘IOSCO’).
Smernice so reorganizirale 24 ključnih načel za infrastrukture finančnega trga v 14 načel v skladu z lokalnimi razmerami in zagotavljajo natančne standarde za njihovo izvajanje.
In March 2015 the FSC released the Business Guideline for Financial Market Infrastructures, which provides specific standards that FMIs should comply with in conducting business pursuant to the FSCMA and its subordinate regulations.
Južnokorejska centralna banka je decembra 2012 spremenila Uredbo o delovanju in upravljanju plačilnih in poravnalnih sistemov, da bi načela za infrastrukture finančnega trga vključila v svoje nadzorne standarde.
The Guideline has reorganised the 24 key principles of the PFMIs into 14 principles in accordance with domestic circumstances, and provides detailed standards for their implementation.
Zakon o storitvah finančnih naložb in kapitalskih trgih ter podrejeni predpisi od CNS zahtevajo tudi, da sprejmejo notranja pravila in postopke, ki so potrebni za ustrezno ureditev njihovih klirinških sistemov in sistemov za poravnavo.
In December 2012, the Bank of Korea amended its ‘Regulation on the Operation and Management of Payment and Settlement Systems’ to adopt the PFMIs as its oversight standards.
Zahteve Zakona o storitvah finančnih naložb in kapitalskih trgih ter podrejenih predpisov, smernic in Uredbe o delovanju in upravljanju plačilnih in poravnalnih sistemov so tako vključene v notranja pravila in postopke klirinških družb.
The FSCMA and its subordinated regulations also require CCPs to adopt internal rules and procedures as are necessary for the proper regulation of its clearing and settlement facilities.
V skladu z Zakonom o storitvah finančnih naložb in kapitalskih trgih mora vse spremembe statuta ali notranjih pravil in postopkov CNS potrditi FSC.
The requirements of the FSCMA, its subordinated regulations, the Guideline and the Regulation on the Operation and Management of Payment and Settlement Systems are thus implemented in the internal rules and procedures of the clearing houses.
Pravno zavezujoče zahteve v Južni Koreji torej sestavlja dvotirni sistem.
Under the FSCMA, any revision to the articles of incorporation or internal rules and procedures of CCPs must be approved by the FSC.
Zakon o storitvah finančnih naložb in kapitalskih trgih ter podrejeni predpisi določajo visoke standarde, ki jih morajo izpolnjevati CNS, da pridobijo dovoljenje za opravljanje klirinških storitev v Južni Koreji.
The legally binding requirements in South Korea therefore comprise a two-tiered structure.
Ta osnovna pravila so prvi tir pravno zavezujočih zahtev v Južni Koreji.
The FSCMA and its subordinated regulations set out the high-level standards which CCPs must comply with in order to obtain authorisation to provide clearing services in South Korea.
Za dokazovanje skladnosti z osnovnimi pravili morajo CNS FSC predložiti v odobritev svoja notranja pravila in postopke v skladu s poslovnimi smernicami za infrastrukture finančnega trga.
Those primary rules comprise the first tier of the legally binding requirements in South Korea.
Navedena notranja pravila in postopki so drugi tir zahtev v Južni Koreji.
In order to prove compliance with the primary rules, CCPs must submit their internal rules and procedures to the FSC for approval in accordance with the Business Guideline for Financial Market Infrastructures.
Ocena enakovrednosti pravnih in nadzornih ureditev, ki se uporabljajo za CNS v Južni Koreji, bi morala upoštevati tudi učinke na zmanjševanje tveganja, ki jih zagotavljajo v smislu stopnje tveganja, ki so jim izpostavljeni klirinški člani in mesta trgovanja s sedežem v Uniji zaradi svoje udeležbe v teh subjektih.
Those internal rules and procedures comprise the second tier of requirements in South Korea.
Učinki na zmanjševanje tveganja so odvisni od stopnje tveganja samih klirinških dejavnosti, ki jih opravlja zadevna CNS, ki je odvisna od velikosti finančnega trga, na katerem deluje, ter primernosti pravnih in nadzornih ureditev, ki se uporabljajo za CNS za zmanjšanje navedene stopnje tveganja.
The equivalence assessment of the legal and supervisory arrangements applicable to CCPs in South Korea should also take account of the risk mitigation outcome that they ensure in terms of the level of risk to which clearing members and trading venues established in the Union are exposed to due to their participation in those entities.
Da bi bil dosežen enak učinek na zmanjševanje tveganja, so potrebne strožje zahteve za zmanjševanje tveganja za CNS, ki opravljajo svoje dejavnosti na večjih finančnih trgih, kjer je stopnja tveganja sama po sebi večja kot za CNS, ki opravljajo svoje dejavnosti na manjših finančnih trgih, na katerih je stopnja tveganja sama po sebi manjša.
The risk mitigation outcome is determined by both the level of risk inherent in the clearing activities carried out by the CCP concerned which depends on the size of financial market in which it operates, and the appropriateness of the legal and supervisory arrangements applicable to CCPs to mitigate that level of risk.
Finančni trg, na katerem CNS z dovoljenjem v Južni Koreji opravljajo svoje klirinške dejavnosti, je precej manjši od trga, na katerem svoje dejavnosti opravljajo CNS s sedežem v Uniji.
In order to achieve the same risk mitigation outcome, more stringent risk mitigation requirements are needed for CCPs carrying out their activities in bigger financial markets whose inherent level of risk is higher than for CCPs carrying out their activities in smaller financial markets whose inherent level of risk is lower.
V zadnjih treh letih je namreč skupna vrednost poslov z izvedenimi finančnimi instrumenti, obračunanih v Južni Koreji, predstavljala manj kot 1 % skupne vrednosti poslov z izvedenimi finančnimi instrumenti, obračunanih v Uniji.
The size of the financial market in which CCPs authorised in South Korea carry out their clearing activities is significantly smaller than that in which CCPs established in the Union carry out theirs.
Zato so klirinški člani in mesta trgovanja s sedežem v Uniji s sodelovanjem v CNS dovoljenjem v Južni Koreji izpostavljeni precej manjšim tveganjem kot s sodelovanjem v CNS z dovoljenjem v Uniji.
In particular, over the past three years, the total value of derivative transactions cleared in South Korea represented less than 1 % of the total value of derivative transactions cleared in the Union.
Pravne in nadzorne ureditve, ki se uporabljajo za CNS z dovoljenjem v Južni Koreji, se lahko zato obravnavajo kot enakovredne, če so primerne za zmanjševanje navedene nižje stopnje tveganja.
Therefore, participation in CCPs authorised in South Korea exposes clearing members and trading venues established in the Union to significantly lower risks than their participation in CCPs authorised in the Union.
Osnovna pravila, ki se uporabljajo za navedene CNS, dopolnjena z njihovimi internimi pravili in postopki, ki vključujejo načela za infrastrukture finančnega trga, zmanjšujejo nižjo stopnjo tveganja, ki obstaja v Južni Koreji, ter dosegajo učinke zmanjševanja tveganja, ki so enakovredni učinkom Uredbe (EU) št. 648/2012.
The legal and supervisory arrangements applicable to CCPs authorised in South Korea may therefore be considered as equivalent where they are appropriate to mitigate that lower level of risk.
Komisija zato ugotavlja, da pravne in nadzorne ureditve Južne Koreje zagotavljajo, da CNS z dovoljenjem v Mehiki izpolnjujejo pravno zavezujoče zahteve, ki so enakovredne zahtevam iz naslova IV Uredbe (EU) št. 648/2012.
The primary rules applicable to those CCPs, complemented by their internal rules and procedures which implement the PFMIs, mitigate the lower level of risk existing in South Korea and achieve a risk mitigation outcome equivalent to that pursued by Regulation (EU) No 648/2012.
V skladu z drugim pogojem iz člena 25(6) Uredbe (EU) št. 648/2012 morajo pravne in nadzorne ureditve Južne Koreje glede CNS z dovoljenjem v tej državi zagotavljati stalen učinkovit nadzor navedenih CNS in izvrševanje predpisov.
The Commission therefore concludes that the legal and supervisory arrangements of South Korea ensure that CCPs authorised therein comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012.
FSC je odgovorna za vzpostavljanje in izvajanje nadzornih pravil ter za preglede in preiskave finančnih institucij.
According to the second condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of South Korea in respect of CCPs authorised therein must provide for effective supervision and enforcement of those CCPs on an ongoing basis.
FSC kot primarni nadzornik CNS ima polna pooblastila za nadzor in kaznovanje CNS, vključno s pooblastilom za preklic licence CNS, pooblastilom za ustavitev in prenos poslovanja CNS ter pooblastilom za uvedbo sankcij proti CNS.
The FSC is responsible for establishing and implementing supervisory rules and for the inspection and examination of financial institutions.
Tekoči nadzor izvaja Služba za finančni nadzor (Financial Supervisory Service, v nadaljnjem besedilu: FSS), ki deluje pod nadzorom FSC.
The FSC, as the primary supervisor of CCPs, has the comprehensive power to control and penalise them including, among other things, the power to cancel the license of CCPs, the power to suspend and transfer the business of CCPs, and the power to impose sanctions on the CCPs.
Pregled CNS se izvede dvakrat letno, traja štiri tedne, možni pa so tudi izredni pregledi na zahtevo nadzornika.
Day-to-day supervision is conducted by the Financial Supervisory Service (‘FSS’) which acts under the oversight of the FSC.
FSS stalno spremlja, ali CNS upoštevajo zahteve v zvezi z obvladovanjem tveganja, in sicer prek postopkov nadzora in pregledov na podlagi tveganja, vključno s preverjanjem bonitetnih zahtev.
CCPs are subject to biannual inspection, each of four weeks duration, and non-periodic inspection on the supervisor's demand.
Korejska centralna banka CNS nadzoruje predvsem z glavnim ciljem zagotavljanja njihove varnosti in učinkovitosti.
The FSS conducts ongoing monitoring of CCPs' compliance with risk management requirements through surveillance and risk-based examination procedures including testing of prudential requirements.
Komisija zato meni, da pravne in nadzorne ureditve Južne Koreje v zvezi s CNS z dovoljenjem v tej državi omogočajo učinkovit stalen nadzor in izvrševanje predpisov.
It carries out oversight by assessing information on CCPs, conducting biennial assessments of them against the PFMIs, and requesting improvements if necessary.
CNS z dovoljenjem tretje države, ki želijo v Južni Koreji opravljati kliring izvedenih finančnih instrumentov OTC, morajo zaprositi za dovoljenje pri FSC.
The Bank of Korea has the authority to require these improvements to be made, with the agreement of the Monetary Policy Committee if it is a major improvement.
Dovoljenje se izda le, če ima jurisdikcija, v kateri ima CNS sedež, dovolj učinkovito regulativno ureditev, podobno pravnim in nadzornim ureditvam, ki se uporabljajo v Južni Koreji.
The Commission therefore concludes that the legal and supervisory arrangements of South Korea in respect of CCPs authorised therein provide for effective supervision and enforcement on an ongoing basis.
Poleg tega je pred odobritvijo vloge CNS z dovoljenjem tretje države obvezna sklenitev dogovora o sodelovanju med Južno Korejo in pristojnimi organi tretje države.
According to the third condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of South Korea must include an effective equivalent system for the recognition of CCPs authorised under third country legal regimes (‘third-country CCPs’).
Postopek priznanja pravne ureditve Južne Koreje, ki se uporablja za CNS z dovoljenjem tretje države, ki želijo v Južni Koreji opravljati kliring izvedenih finančnih instrumentov OTC, bi bilo zato treba obravnavati, kot da zagotavlja učinkovit enakovreden sistem za priznanje CNS z dovoljenjem tretje države.
Third country CCPs which want to clear OTC derivatives in South Korea have to apply to the FSC for approval.
Za pogoje iz člena 25(6) Uredbe (EU) št. 648/2012 se lahko šteje, da so izpolnjeni na podlagi pravnih in nadzornih ureditev Južne Koreje glede CNS z dovoljenjem v tej državi, hkrati pa bi bilo treba te pravne in nadzorne ureditve šteti za enakovredne zahtevam iz Uredbe (EU) št. 648/2012.
In order for approval to be granted, the jurisdiction in which the CCP is established must have a sufficiently robust regulatory regime similar to the legal and supervisory arrangements applicable in South Korea.
Komisija bi morala še naprej redno spremljati razvoj južnokorejskega pravnega in nadzornega okvira za CNS ter izpolnjevanje pogojev, na podlagi katerih je bil ta sklep sprejet.
The conclusion of cooperative arrangements between South Korean and competent third-country authorities is also required before the third country CCP application is approved.
Redni pregled pravnih in nadzornih ureditev, ki se v Južni Koreji uporabljajo za CNS z dovoljenjem v tej državi, ne posega v možnost, da Komisija kadar koli izven okvira splošnih pregledov izvede poseben pregled, če mora zaradi razvoja dogodkov ponovno oceniti, ali še obstaja enakovrednost, določena s tem sklepom.
The recognition procedure of the legal regime of South Korea applicable to third country CCPs that want to clear OTC derivatives therein should therefore be considered as providing for an effective equivalent system for the recognition of third country CCPs.
Takšna ponovna ocena bi lahko imela za posledico razveljavitev priznanja enakovrednosti.
The conditions laid down in Article 25(6) of Regulation (EU) No 648/2012 can therefore be considered to be met by the legal and supervisory arrangements of South Korea regarding CCPs authorised therein, and those legal and supervisory arrangements should be considered to be equivalent to the requirements laid down in Regulation (EU) No 648/2012.
Ukrepi iz tega sklepa so v skladu z mnenjem Evropskega odbora za vrednostne papirje –
The Commission should continue monitoring on a regular basis the evolution of the legal and supervisory framework for CCPs in South Korea and the fulfilment of the conditions on the basis of which this decision has been taken.
SPREJELA NASLEDNJI SKLEP:
The regular review of the legal and supervisory arrangements applicable in South Korea to CCPs authorised therein should be without prejudice to the possibility of the Commission to undertake a specific review at any time outside the general review, where relevant developments make it necessary for the Commission to reassess the equivalence granted by this decision.
Člen 1
Such reassessment could lead to the withdrawal of the recognition of equivalence.
Za namene člena 25 Uredbe (EU) št. 648/2012 se šteje, da so pravne in nadzorne ureditve Južne Koreje, ki jih sestavljajo Zakon o storitvah finančnih naložb in kapitalskih trgih iz leta 2013 in podrejeni predpisi, kot jih dopolnjujejo poslovne smernice za infrastrukture finančnega trga in Uredba o delovanju in upravljanju plačilnih in poravnalnih sistemov in ki se uporabljajo za CNS z dovoljenjem v tej državi, enakovredne zahtevam iz Uredbe (EU) št. 648/2012.
The measures provided for in this Decision are in accordance with the opinion of the European Securities Committee,
Člen 2
HAS ADOPTED THIS DECISION:
Ta sklep začne veljati dvajseti dan po objavi v Uradnem listu Evropske unije.
Article 1
V Bruslju, 13. novembra 2015
For the purposes of Article 25 of Regulation (EU) No 648/2012, the legal and supervisory arrangements of South Korea consisting of the Financial Investment Services and Capital Markets Act 2013 and it subordinated regulations as complemented by the Business Guideline for Financial Market Infrastructures and the Regulation on the Operation and Management of Payment and Settlement Systems, and applicable to CCPs authorised therein shall be considered to be equivalent to the requirements laid down in Regulation (EU) No 648/2012.
Za Komisijo
This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
UL L 201, 27.7.2012, str. 1.
Done at Brussels, 13 November 2015.
S 1. septembrom 2014 je Odbor za plačilne in poravnalne sisteme spremenil ime v Odbor za plačila in tržno infrastrukturo (CPMI).
For the Commission
FSC lahko ob izdaji dovoljenja postavi pogoje, ki so potrebni za zagotavljanje dobrega upravljanja CNS in ohranjanje zdravega tržnega reda.
The President
CNS z dovoljenjem so pod stalnim nadzorom FSC ter nadzorom korejske centralne banke v skladu z Zakonom o korejski centralni banki.
OJ L 201, 27.7.2012, p. 1.
Nadzor izvaja tako, da oceni informacije o CNS, izvaja polletne ocene na podlagi načel za infrastrukture finančnega trga in po potrebi zahteva izboljšave.
As of 1 September 2014 the Committee on Payment and Settlement Systems has changed its name to Committee on Payment and Market Infrastructures ‘CPMI’.
Južnokorejska centralna banka je pooblaščena, da zahteva uvedbo teh izboljšav, v dogovoru z Odborom za denarno politiko, če gre za pomembnejše izboljšave.
Commission Implementing Decision (EU) 2015/2039
Izvedbeni sklep Komisije (EU) 2015/2039
on the equivalence of the regulatory framework of South Africa for central counterparties to the requirements of Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories
o enakovrednosti regulativnega okvira Južne Afrike za centralne nasprotne stranke zahtevam iz Uredbe (EU) št. 648/2012 Evropskega parlamenta in Sveta o izvedenih finančnih instrumentih OTC, centralnih nasprotnih strankah in repozitorijih sklenjenih poslov
The purpose of this equivalence assessment is therefore to verify that the legal and supervisory arrangements of South Africa ensure that CCPs established and authorised therein do not expose clearing members and trading venues established in the Union to a higher level of risk than the latter could be exposed to by CCPs authorised in the Union and, consequently, do not pose unacceptable levels of systemic risk in the Union.
Namen te ocene enakovrednosti je torej preveriti, ali pravne in nadzorne ureditve Južne Afrike omogočajo, da CNS s sedežem in dovoljenjem v tej državi klirinških članov ali mest trgovanja s sedežem v Uniji ne izpostavljajo višji stopnji tveganja kot CNS z dovoljenjem v Uniji, posledično pa ne pomenijo nesprejemljivih stopenj sistemskega tveganja v Uniji.
This Decision is based on the outcome of the legal and supervisory arrangements applicable in South Africa and their adequacy to mitigate the risks that clearing members and trading venues established in the Union may be exposed to in a manner considered equivalent to the outcome of the requirements laid down in Regulation (EU) No 648/2012.
Ta sklep temelji na učinkih pravnih in nadzornih ureditev, ki se uporabljajo za CNS v Južni Afriki, in njihovi primernosti za zmanjševanje tveganj, ki so jim lahko izpostavljeni klirinški člani in mesta trgovanja s sedežem v Uniji, in sicer na način, ki je enakovreden učinkom zahtev iz Uredbe (EU) št. 648/2012.
The legally binding requirements of South Africa for CCPs authorised therein consist of the Financial Markets Act, Act No 19 of 2012 (‘FMA’).
Pravno zavezujoče zahteve Južne Afrike za CNS z dovoljenjem v tej državi predstavlja Zakon o finančnih trgih (Financial Markets Act), zakon št. 19 iz leta 2012.
The Registrar of Securities Services (‘the Registrar’) has a comprehensive set of powers to oversee, monitor and investigate clearing houses authorised to operate in South Africa (‘licensed clearing houses’).
Registrator za storitve v zvezi z vrednostnimi papirji (Registrar of Securities Services, v nadaljnjem besedilu: registrator) ima celovit niz pooblastil za nadzor, spremljanje in preiskovanje klirinških družb z dovoljenjem za poslovanje v Južni Afriki (v nadaljnjem besedilu: klirinška družba z licenco).
The FMA sets out the duties and requirements with which clearing houses must comply.
Zakon o finančnih trgih določa naloge in zahteve, ki jih morajo izpolnjevati klirinške družbe.
In particular, under the FMA, the Registrar grants the authorisation to operate as a licensed clearing house, provided that the applicant complies with those requirements and contributes to the achievement of the objectives set out in the FMA, including systemic risk mitigation and ensuring that the South African financial markets are fair, efficient and transparent.
V skladu z Zakonom o finančnih trgih registrator zlasti izda dovoljenje za poslovanje kot klirinška družba z licenco, če vložnik izpolnjuje navedene zahteve in prispeva k doseganju ciljev, ki jih določa Zakon o finančnih trgih, vključno z zmanjševanjem tveganja in zagotavljanjem, da so južnoafriški finančni trgi pošteni, učinkoviti in pregledni.
In order to ensure those requirements are met, the Registrar may impose the conditions it considers appropriate when granting an authorisation.
Za zagotavljanje izpolnjevanja navedenih zahtev lahko registrator določi pogoje za izdajo dovoljenja, ki jih smatra kot ustrezne.