natgillin/translations-raw huggingface dataset:
The joint regulators assess compliance by the designated settlement system with those standards and with the PFMIs.
Skupni regulativni organi ocenijo skladnost imenovanih poravnalnih sistemov z navedenimi standardi in načeli za infrastrukture finančnega trga.
Once the system has been authorised as a designated settlement system, the internal rules and procedures, become legally binding upon it and cannot be amended if the joint regulators object to the intended amendments.
Ko sistem pridobi dovoljenje kot imenovani poravnalni sistem, postanejo notranja pravila in postopki zanj pravno zavezujoči in jih ni mogoče spremeniti, če skupni regulativni organi nasprotujejo načrtovanim spremembam.
The equivalence assessment of the legal and supervisory arrangements applicable to designated settlement systems established in New Zealand should also take into account 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 when participating in those entities.
Ocena enakovrednosti pravnih in nadzornih ureditev, ki se uporabljajo za imenovane poravnalne sisteme s sedežem na Novi Zelandiji, 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, kadar so udeležena v teh subjektih.
In order to achieve an equivalent risk mitigation outcome, more stringent risk mitigation requirements are necessary for CCPs carrying out their activities in larger 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.
Da bi bil dosežen enakovreden 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 financial market in which designated settlement systems authorised in New Zealand carry out their clearing activities is significantly smaller than that in which CCPs established in the Union are active.
Finančni trg, na katerem imenovani poravnalni sistemi z dovoljenjem na Novi Zelandiji opravljajo svoje klirinške dejavnosti, je precej manjši od trga, na katerem so aktivne CNS s sedežem v Uniji.
Over the past 3 years, the total value of derivative transactions cleared in New Zealand represented less than 1 % of the total value of derivative transactions cleared in the Union.
V zadnjih treh letih je skupna vrednost poslov z izvedenimi finančnimi instrumenti, katerih kliring je bil opravljen na Novi Zelandiji, predstavljala manj kot 1 % skupne vrednosti poslov z izvedenimi finančnimi instrumenti, katerih kliring je bil opravljen v Uniji.
Therefore, participation in designated settlement systems established in New Zealand exposes clearing members and trading venues established in the Union to significantly lower risks than their participation in CCPs authorised in the Union.
Zato so klirinški člani in mesta trgovanja s sedežem v Uniji s sodelovanjem v imenovanih poravnalnih sistemih s sedežem na Novi Zelandiji izpostavljeni precej manjšim tveganjem kot s sodelovanjem v CNS z dovoljenjem v Uniji.
The legal and supervisory arrangements applicable to designated settlement systems established in New Zealand may therefore be considered as equivalent where they are appropriate to mitigate that lower level of risk.
Pravne in nadzorne ureditve, ki se uporabljajo za imenovane poravnalne sisteme s sedežem na Novi Zelandiji, se lahko zato obravnavajo kot enakovredne, če so primerne za zmanjševanje navedene nižje stopnje tveganja.
The primary rules applicable to designated settlement systems authorised in New Zealand, complemented by the internal rules and procedures, which implement the PFMIs, mitigate the lower level of risk existing in New Zealand and achieve a risk mitigation outcome equivalent to that pursued by Regulation (EU) No 648/2012.
Osnovna pravila, ki se uporabljajo za imenovane poravnalne sisteme z dovoljenjem na Novi Zelandiji, dopolnjena z internimi pravili in postopki, ki vključujejo načela za infrastrukture finančnega trga, zmanjšujejo nižjo stopnjo tveganja, ki velja za Novo Zelandijo, ter dosegajo učinke zmanjševanja tveganja, ki so enakovredni učinkom Uredbe (EU) št. 648/2012.
It should therefore be concluded that the legal and supervisory arrangements of New Zealand ensure that designated settlement systems authorised therein comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012.
Zato bi bilo treba skleniti, da pravne in nadzorne ureditve Nove Zelandije zagotavljajo, da imenovani poravnalni sistemi z dovoljenjem v tej državi izpolnjujejo pravno zavezujoče zahteve, ki so enakovredne zahtevam iz naslova IV Uredbe (EU) št. 648/2012.
According to the second condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of New Zealand in respect of CCPs authorised therein must provide for effective supervision and enforcement of those CCPs on an ongoing basis.
V skladu z drugim pogojem iz člena 25(6) Uredbe (EU) št. 648/2012 morajo pravne in nadzorne ureditve Nove Zelandije glede CNS z dovoljenjem v tej državi zagotavljati, da za navedene CNS veljata stalen učinkovit nadzor in izvrševanje.
The supervision of designated settlement systems authorised in New Zealand is carried out by the joint regulators.
Imenovane poravnalne sisteme z dovoljenjem na Novi Zelandiji nadzorujejo skupni regulativni organi.
The joint regulators may request information from designated settlement systems and their participants and may impose penalties if they refuse to reply.
Ti lahko od imenovanih poravnalnih sistemov in njihovih udeležencev zahtevajo informacije in jim naložijo kazni, če informacij ne predložijo.
The joint regulators can revoke the authorisation of a designated settlement system.
Skupni regulativni organi lahko prekličejo dovoljenje imenovanega poravnalnega sistema.
The joint regulators monitor compliance by designated settlement systems with the conditions to which authorisation as a designated settlement system is subject.
Spremljajo tudi skladnost imenovanih poravnalnih sistemov s pogoji, ki veljajo za dovoljenje kot imenovani poravnalni sistem.
These conditions can include requirements to notify the joint regulators of material events (such as non-compliance with, or changes to, the system's risk management framework or financial resources policy), regular reports to the joint regulators and to publish information, including a self-assessment against relevant international standards (PFMIs).
Ti pogoji lahko vključujejo zahtevo po obveščanju skupnih regulativnih organov o pomembnih dogodkih (kot so neskladnost z okvirom sistema za upravljanje tveganj ali politiko finančnih virov ali spremembe navedenega okvira ali politike), po rednem poročanju skupnih regulativnih organov in objavi informacij, vključno s samooceno na podlagi relevantnih mednarodnih standardov (načel za infrastrukture finančnega trga).
The joint regulators meet regularly with the senior management of the designated settlement systems and may review the authorisation and subject it to additional conditions or revoke it if the applicable requirements are not complied with.
Skupni regulativni organi se redno srečujejo z višjim vodstvom imenovanih poravnalnih sistemov in lahko pregledajo dovoljenje ter določijo dodatne pogoje zanj ali ga odvzamejo, če veljavne zahteve niso izpolnjene.
It should therefore be concluded that designated settlement systems authorised in New Zealand are subject to effective supervision and enforcement on an ongoing basis.
Zato bi bilo treba skleniti, da za imenovane poravnalne sisteme z dovoljenjem na Novi Zelandiji veljata učinkovit stalen nadzor in izvrševanje.
According to the third condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of New Zealand must include an effective equivalent system for the recognition of CCPs authorised under third-country legal regimes (‘third-country CCPs’).
V skladu s tretjim pogojem iz člena 25(6) Uredbe (EU) št. 648/2012 morajo pravne in nadzorne ureditve Nove Zelandije vključevati učinkovit enakovreden sistem za priznanje CNS z dovoljenjem v skladu s pravno ureditvijo tretje države (v nadaljnjem besedila: CNS z dovoljenjem tretje države).
Third-country CCPs can operate in New Zealand provided that the legal and supervisory arrangements applicable to them and to their participants are legally robust.
CNS z dovoljenjem tretje države lahko poslujejo na Novi Zelandiji, če so pravne in nadzorne ureditve, ki se uporabljajo zanje in njihove udeležence, pravno zanesljive.
Moreover, third-country CCPs must be subject to effective supervision ensuring compliance with the applicable legal and supervisory arrangements.
Poleg tega je treba nad CNS z dovoljenjem tretje države izvajati učinkovit nadzor, ki zagotavlja skladnost z veljavnimi pravnimi in nadzornimi ureditvami.
A memorandum of understanding between the Bank of New Zealand and the competent third-country supervisory authority of the CCP may be concluded.
Med Centralno banko Nove Zelandije in nadzornim organom tretje države, ki je pristojen za CNS, se lahko sklene memorandum o soglasju.
It should therefore be concluded that the legal and supervisory arrangements of New Zealand provide for an effective equivalent system for the recognition of third-country CCPs.
Zato bi bilo treba skleniti, da pravne in nadzorne ureditve Nove Zelandije omogočajo učinkovit enakovreden sistem za priznavanje CNS z dovoljenjem tretje države.
This Decision is based on the legally binding requirements relating to designated settlement systems applicable in New Zealand at the time of the adoption of this Decision.
Ta sklep temelji na pravno zavezujočih zahtevah za imenovane poravnalne sisteme, ki veljajo na Novi Zelandiji v času sprejetja tega sklepa.
The Commission, in cooperation with ESMA, should continue monitoring on a regular basis the evolution of the legal and supervisory framework for designated settlement systems in New Zealand and the fulfilment of the conditions on the basis of which this Decision has been taken.
Komisija bi morala v sodelovanju z ESMA še naprej redno spremljati razvoj pravnega in nadzornega okvira za imenovane poravnalne sisteme na Novi Zelandiji ter izpolnjevanje pogojev, na podlagi katerih je bil sprejet ta sklep.
The regular review of the legal and supervisory arrangements applicable in New Zealand 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 re-assess the equivalence granted by this Decision.
Redni pregled pravnih in nadzornih ureditev, ki se na Novi Zelandiji 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.
Such re-assessment could lead to the repeal of this Decision.
Takšna ponovna ocena bi lahko pripeljala do razveljavitve tega sklepa.
For the purposes of paragraph 6 of Article 25 of Regulation (EU) No 648/2012, the legal and supervisory arrangements of New Zealand consisting of Part 5C of the the Reserve Bank of New Zealand Act 1989, as complemented by the policy statement ‘The Designation and Oversight of Designated Settlement Systems’ requiring designated settlement systems to comply with the PFMIs, and applicable to designated settlement systems shall be considered to be equivalent to the requirements laid down in Regulation (EU) No 648/2012.
Za namene odstavka 6 člena 25 Uredbe (EU) št. 648/2012 se pravne in nadzorne ureditve Nove Zelandije, ki jih sestavljajo del 5C Zakona o Centralni banki Nove Zelandije iz leta 1989, kot ga dopolnjuje izjava o politiki „Imenovanje in nadzor imenovanih poravnalnih sistemov“, ki od imenovanih poravnalnih sistemov zahteva skladnost z načeli za infrastrukture finančnega trga, in ki se uporabljajo za imenovane poravnalne sisteme, štejejo za enakovredne zahtevam iz Uredbe (EU) št. 648/2012.
Commission Implementing Decision (EU) 2016/2275
Izvedbeni sklep Komisije (EU) 2016/2275
on the equivalence of the regulatory framework for central counterparties in Japan in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council
o enakovrednosti regulativnega okvira Japonske za centralne nasprotne stranke v skladu z Uredbo (EU) št. 648/2012 Evropskega parlamenta in Sveta
That recognition procedure and the equivalence decision provided for therein thus contribute to the achievement of the overarching aim of Regulation (EU) No 648/2012 to reduce systemic risk by extending the use of safe and sound CCPs to clear over-the-counter (‘OTC’) derivative contracts, including where those CCPs are established and authorised in a third country.
Postopek priznanja in v tem okviru predviden sklep o enakovrednosti tako prispevata k doseganju poglavitnega cilja Uredbe (EU) št. 648/2012, tj. zmanjšanju sistemskega tveganja z razširjanjem uporabe varnih in stabilnih CNS za kliring pogodb o izvedenih finančnih instrumentih, s katerimi se trguje na prostem trgu (v nadaljnjem besedilu: izvedeni finančni instrumenti OTC), vključno s primeri, kadar imajo navedene CNS sedež in dovoljenje v tretji državi.
The purpose of this equivalence assessment is therefore to verify that the legal and supervisory arrangements of Japan 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 Japonske zagotavljajo, 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.
The legally binding requirements of Japan for CCPs authorised therein consist of the Financial Instruments and Exchange Act 2006 (‘FIEA’), which establishes the supervisory framework for organisations clearing securities and financial derivatives, and the Commodity Derivatives Act 2009 (‘CDA’), which provides the supervisory framework for organisations clearing commodities.
Pravno zavezujoče zahteve Japonske za CNS z dovoljenjem v tej državi so Zakon o finančnih instrumentih in borzah iz leta 2006 (Financial Instruments and Exchange Act, FIEA), ki določa nadzorni okvir za organizacije, ki opravljajo kliring vrednostnih papirjev in izvedenih finančnih instrumentov, ter Zakon o izvedenih finančnih instrumentih na blago iz leta 2009 (Commodity Derivatives Act, CDA), ki določa nadzorni okvir za organizacije, ki opravljajo kliring blaga.
The present decision only covers the regime set out in the CDA for commodity transaction clearing organisations (‘CTCOs’).
Ta sklep zajema samo ureditev, določeno v Zakonu o izvedenih finančnih instrumentih za blago za organizacije za kliring transakcij z blagom (commodity transaction clearing organisations, CTCO).
The CDA sets out the requirements that CTCOs must comply with on an ongoing basis to be able to provide clearing services in Japan.
Zakon o izvedenih finančnih instrumentih na blago določa zahteve, ki jih morajo organizacije za kliring transakcij z blagom vedno izpolnjevati, da lahko opravljajo klirinške storitve na Japonskem.
The competent minister may establish conditions for granting a CTCO license.
Minister za gospodarstvo, trgovino in industrijo je pristojni minister za organizacije za kliring transakcij z blagom, ki opravljajo klirinške storitve samo za trge primarnih proizvodov, ki so v pristojnosti navedenega ministrstva.
The minister of the Ministry of Agriculture, Forestry and Fisheries (‘MAFF’) is the competent minister for CTCOs that perform clearing services only for commodity markets that concern MAFF.
Za druge organizacije za kliring transakcij z blagom sta pristojna ministra obeh navedenih ministrstev.
The minister of the Ministry of Economy, Trade and Industry (‘METI’) is the competent minister for CTCOs that perform clearing services only for commodity markets that concern METI.
Poleg tega sta Ministrstvo za kmetijstvo, gozdarstvo in ribištvo ter Ministrstvo za gospodarstvo, trgovino in industrijo novembra 2014 objavili Osnovne smernice za nadzor organizacij, ki opravljajo kliring blaga (Basic Guidelines on Supervision of Commodity Clearing Organisations, v nadaljnjem besedilu: Smernice), ki podrobno določajo nadzorni okvir v zvezi z organizacijami za kliring transakcij z blagom ob upoštevanju načel za infrastrukture finančnega trga, ki sta jih aprila 2012 izdala Odbor za plačilne in poravnalne sisteme (CPSS) [2] in Mednarodno združenje nadzornikov trga vrednostnih papirjev (IOSCO), ter zlasti način, na katerega morajo organizacije za kliring transakcij z blagom izpolnjevati Zakon o izvedenih finančnih instrumentih na blago.
For other CTCOs, both the minsters of METI and MAFF are the competent ministers.
Smernice se vključijo v notranja pravila in postopke organizacij za kliring transakcij z blagom.
Moreover, in November 2014, METI and the MAFF published the ‘Basic Guidelines on Supervision of Commodity Clearing Organisations’ (‘the Guidelines’), which detail the supervisory framework with regard to CTCOs in consideration of the Principles for Financial Markets Infrastructures (‘PFMIs’) issued in April 2012 by the Committee on Payment and Settlement Systems [2] and the International Organization of Securities Commissions, and in particular the way in which the CDA must be complied with by the CTCOs.
V skladu z osnovnimi pravili morajo organizacije za kliring transakcij z blagom sprejeti notranja poslovna pravila – notranja pravila in postopke organizacije za kliring transakcij z blagom – ki so skladna z zakoni in predpisi, ki se uporabljajo, ter omogočajo, da se transakcije z izvedenimi finančnimi instrumenti ustrezno in varno izvajajo.
The Guidelines are implemented in the internal rules and procedures of CTCOs.
Notranja poslovna pravila zagotavljajo tudi, da je finančni položaj organizacije za kliring transakcij z blagom primeren za opravljanje kliringa blaga, da so njeni pričakovani prihodki in odhodki iz poslovanja pozitivni, da ima njeno osebje dovolj znanja in izkušenj za ustrezno in zanesljivo izvedbo kliringa blaga ter da sta njena struktura in sistem ustrezno razvita, tako da je omogočeno ustrezno delovanje sistema poravnav.
Pursuant to the primary rules, CTCOs must adopt internal business rules — the internal rules and procedures of the CTCO — which conform to the applicable laws and regulations and allow the derivatives transactions to be performed properly and securely.
Navedena pravila in postopke mora odobriti pristojni minister in jih ni mogoče spremeniti, če jim pristojni minister nasprotuje.
Internal business rules also ensure that the financial standing of CTCOs is sufficient for undertaking the clearing of commodities; that the expected income and expenditure pertaining to the business of CTCOs are favorable; that the CTCOs' staff has sufficient knowledge and experience for conducting the clearing of commodities appropriately and with certainty; and that the structure and system of CTCOs are adequately developed so that settlement can function adequately.
Pravno zavezujoče zahteve za organizacije za kliring transakcij z blagom z dovoljenjem na Japonskem torej sestavlja dvoplastni sistem.
Those internal rules and procedures need to be approved by the competent minister and cannot be amended if the competent minister objects to them.
Temeljna načela za organizacije za kliring transakcij z blagom, ki jih vsebujejo osnovna pravila, določajo visoke standarde, ki jih morajo organizacije za kliring transakcij z blagom izpolnjevati, da pridobijo dovoljenje za opravljanje storitev kliringa na Japonskem (skupaj v nadaljnjem besedilu: osnovna pravila).
The legally binding requirements applicable to CTCOs authorised in Japan therefore comprise a two-tiered structure.
Ta osnovna pravila so prva plast pravno zavezujočih zahtev, ki se uporabljajo za organizacije za kliring transakcij z blagom na Japonskem.
The core principles for CTCOs contained in the primary rules lay down the high-level standards with which CTCOs must comply in order to obtain a license to provide clearing services in Japan (together, the ‘primary rules’).
Da bi organizacije za kliring transakcij z blagom dokazale skladnost z osnovnimi pravili, morajo svoja notranja pravila in postopke predložiti v odobritev pristojnemu ministru.
Those primary rules comprise the first tier of the legally binding requirements in Japan applicable to CTCOs.
Ta interna pravila in postopki so druga plast pravno zavezujočih zahtev Japonske za organizacije za kliring transakcij z blagom, ki morajo določati preskriptivne podrobnosti o tem, kako bo organizacija za kliring transakcij z blagom vlagateljica izpolnila te standarde v skladu s Smernicami.
In order to prove compliance with the primary rules, CTCOs must submit their internal rules and procedures to the competent minister for approval.
Poleg tega notranja pravila in postopki organizacij za kliring transakcij z blagom vsebujejo dodatne določbe, ki dopolnjujejo osnovna pravila.
METI and MAFF assess compliance by the CTCO with those standards and with the PFMIs.
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.
Once approved by competent minister, those internal rules and procedures become legally binding upon the CTCO.
Da bi bil dosežen enakovreden 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 equivalence assessment of the legal and supervisory arrangements applicable to CTCOs established in Japan should also take into account 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 when participating in those entities.
Finančni trg, na katerem organizacije za kliring transakcij z blagom z dovoljenjem na Japonskem opravljajo svoje klirinške dejavnosti, je precej manjši od trga, na katerem so aktivne CNS s sedežem v Uniji.
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 the financial market in which it operates, and the appropriateness of the legal and supervisory arrangements applicable to CCPs to mitigate that level of risk.
V zadnjih treh letih je skupna vrednost poslov z izvedenimi finančnimi instrumenti, katerih kliring je bil opravljen na Japonskem, predstavljala manj kot 2 % skupne vrednosti poslov z izvedenimi finančnimi instrumenti, katerih kliring je bil opravljen v Uniji.