natgillin/translations-raw huggingface dataset:
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.
Zato so klirinški člani in mesta trgovanja s sedežem v Uniji s sodelovanjem v organizacijah za kliring transakcij z blagom s sedežem na Japonskem izpostavljeni precej manjšim tveganjem kot s sodelovanjem v CNS z dovoljenjem v Uniji.
The financial market in which CTCOs authorised in Japan carry out their clearing activities is significantly smaller than that in which CCPs established in the Union are active.
Pravne in nadzorne ureditve, ki se uporabljajo za organizacije za kliring transakcij z blagom s sedežem na Japonskem, se lahko zato obravnavajo kot enakovredne, če so primerne za zmanjševanje navedene nižje stopnje tveganja.
Over the past three years, the total value of derivative transactions cleared in Japan represented less than 2 % of the total value of derivative transactions cleared in the Union.
Osnovna pravila, ki se uporabljajo za organizacije za kliring transakcij z blagom z dovoljenjem na Japonskem, dopolnjujejo interna pravila in postopki, ki vključujejo načela za infrastrukture finančnih trgov, zmanjšujejo nižjo stopnjo tveganja, ki velja za Japonsko, ter dosegajo rezultate pri zmanjševanju tveganj, ki so enakovredni rezultatom Uredbe (EU) št. 648/2012.
Therefore, participation in CTCOs established in Japan exposes clearing members and trading venues established in the Union to significantly lower risks than their participation in CCPs authorised in the Union.
Zato bi bilo treba skleniti, da pravne in nadzorne ureditve Japonske zagotavljajo, da organizacije za kliring transakcij z blagom z dovoljenjem v navedeni državi izpolnjujejo pravno zavezujoče zahteve, ki so enakovredne zahtevam iz naslova IV Uredbe (EU) št. 648/2012.
The legal and supervisory arrangements applicable to CTCOs established in Japan may therefore be considered as equivalent where they are appropriate to mitigate that lower level of risk.
V skladu z drugim pogojem iz člena 25(6) Uredbe (EU) št. 648/2012 morajo pravne in nadzorne ureditve Japonske glede CNS z dovoljenjem v tej državi zagotavljati, da za navedene CNS veljata stalen učinkovit nadzor in izvrševanje.
The primary rules applicable to CTCOs authorised in Japan, complemented by the internal rules and procedures, which implement the PFMIs, mitigate the lower level of risk existing in Japan and achieve a risk mitigation outcome equivalent to that pursued by Regulation (EU) No 648/2012.
Nadzor organizacij za kliring transakcij z blagom z dovoljenjem na Japonskem izvajata Ministrstvo za gospodarstvo, trgovino in industrijo ter Ministrstvo za kmetijstvo, gozdarstvo in ribištvo v okviru svojih pristojnosti in v okviru pooblastil posameznega ministrstva.
It should therefore be concluded that the legal and supervisory arrangements of Japan ensure that CTCOs authorised therein comply with legally binding requirements which are equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012.
Ministrstvo za gospodarstvo, trgovino in industrijo ter Ministrstvo za kmetijstvo, gozdarstvo in ribištvo lahko organizacijam za kliring transakcij z blagom in njihovim klirinškim članom odredita, naj posredujejo poročila ali gradiva v zvezi s svojimi sredstvi ali poslovanjem.
According to the second condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of Japan in respect of CCPs authorised therein must provide for effective supervision and enforcement of those CCPs on an ongoing basis.
Prav tako lahko opravljata inšpekcijske preglede organizacij za kliring transakcij z blagom in njihovih klirinških članov, vključno s pregledom njihovih knjig in dokumentov ali drugih elementov, povezanih z njihovim poslovanjem.
The supervision of CTCOs authorised in Japan is carried out by the METI and MAFF, within their respective competencies, within each Ministry's scope of powers.
Kadar ministrstvi menita, da je to potrebno in primerno za pravilno in zanesljivo izvajanje klirinških storitev, lahko organizacijam za kliring transakcij z blagom odredita, naj spremenijo svoj statut, poslovna pravila in druga pravila, spremenijo svoje poslovne metode ali uvedejo potrebne ukrepe za izboljšanje svojih poslovnih operacij ali stanja svojih sredstev.
METI and MAFF may order CTCOs and their clearing members to submit reports or materials regarding their assets or business.
Prav tako lahko uvedeta tudi disciplinske ukrepe in kazni za organizacije za kliring transakcij z blagom zaradi neizpolnjevanja veljavnih določb.
METI and MAFF may also conduct inspections of CTCOs and their clearing members, including examining their books and documents or any other element related to their business.
Zato bi bilo treba skleniti, da za organizacije za kliring transakcij z blagom z dovoljenjem na Japonskem veljata učinkovit stalen nadzor in izvrševanje.
METI and MAFF may, where they consider it to be necessary and appropriate for the proper and reliable performance of clearing services, order CTCOs to amend their articles of incorporation, their business rules and other rules, to change their business methods or to take the necessary measures to improve their business operations or the state of their assets.
V skladu s tretjim pogojem iz člena 25(6) Uredbe (EU) št. 648/2012 morajo pravne in nadzorne ureditve Japonske vključevati učinkovit enakovreden sistem za priznanje CNS z dovoljenjem v skladu s pravno ureditvijo tretje države (v nadaljnjem besedilu: CNS z dovoljenjem tretje države).
METI and MAFF may also impose disciplinary actions, as well as fines, to CTCOs for failure to comply with the applicable provisions.
CNS z dovoljenjem tretje države lahko zaprosijo za dovoljenje kot organizacije za kliring transakcij z blagom, s katerim lahko na Japonskem opravljajo enake storitve kot v tretji državi.
It should therefore be concluded that CTCOs authorised in Japan are subject to effective supervision and enforcement on an ongoing basis.
Japonska agencija za finančne storitve (Japan Financial Services Agency, v nadaljnjem besedilu: JFSA) je pooblaščena, da v posvetovanju z ministrom, ki je pristojen za trg primarnih proizvodov, določi blago, s katerim se lahko trguje na trgu finančnih instrumentov v skladu z japonskim Zakonom o finančnih instrumentih in borzah.
According to the third condition under Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of Japan must include an effective equivalent system for the recognition of CCPs authorised under third country legal regimes (‘third-country CCPs’).
Kadar CNS z dovoljenjem tretje države opravljajo kliring takšnih pogodb, ki so določene za trgovanje na trgu finančnih instrumentov, lahko zaprosijo za licenco „tuje CNS“ pri JFSA, s katero lahko na Japonskem opravljajo enake storitve kot v tretji državi.
Third-country CCPs may apply for authorisation as a CTCO to provide the same services in Japan as they are authorised to provide in that third country.
Merila, ki se uporabijo za CNS z dovoljenjem tretje države, ki prosi za licenco, so podobna kot merila, ki se uporabljajo za japonske klirinške organizacije, vendar so CNS z dovoljenjem tretje države izvzete iz nekaterih zahtev, ki se veljajo za domače CNS z dovoljenjem na Japonskem, kadar so pridobile enakovredno licenco od zadevnega organa tretje države, s katerim je JFSA sklenila dogovor o sodelovanju.
The Japan Financial Services Agency (‘JFSA’) has the power to designate commodities, through consultation with the minister which has jurisdiction over a commodity market, that can be traded on a Financial Instruments Market (‘FIM’) under Japan's Financial Instruments and Exchange Act (‘FIEA’).
CNS z dovoljenjem tretje države, ki opravljajo kliring pogodb, ki niso določene za trgovanje na trgu finančnih instrumentov, morajo v skladu z japonskim zakonom o izvedenih finančnih instrumentih na blago zaprositi za licenco pri Ministrstvu za gospodarstvo, trgovino in industrijo ter Ministrstvu za kmetijstvo, gozdarstvo in ribištvo.
Where third-country CCPs clear such designated contracts traded on a FIM, the CCP can apply for a ‘Foreign CCP’ license from the JFSA, enabling them to provide the same services in Japan as they are authorised to provide in the third country.
Pri obravnavi vloge za licenco bosta ministrstvi upoštevali status dovoljenja, ki ga ima CNS v tretji državi.
The criteria applied to a third country CCP applying for a license are similar to the criteria applied to Japanese clearing organisations, but third country CCPs are exempted from certain requirements applicable to domestic CCPs authorised in Japan where they have been granted an equivalent license from the relevant third country authority with which the JFSA has concluded a cooperative arrangement.
Zato bi bilo treba skleniti, da pravne in nadzorne ureditve Japonske omogočajo učinkovit enakovreden sistem za priznavanje CNS z dovoljenjem tretje države.
Third-country CCPs that clear contracts not designated to be traded on a FIM need to apply for a license from METI and MAFF under Japan's Commodity Derivative Act.
Ta sklep temelji na pravno zavezujočih zahtevah za organizacije za kliring transakcij z blagom, ki veljajo na Japonskem v času sprejetja tega sklepa.
In considering an application for a license, MET and MAFF would consider the CCP's authorisation status in the third country.
Komisija bi morala še naprej spremljati razvoj japonskega pravnega in nadzornega okvira za organizacije za kliring transakcij z blagom ter izpolnjevanje pogojev, na podlagi katerih je bil ta sklep sprejet.
It should therefore be concluded that the legal and supervisory arrangements of Japan provide for an effective equivalent system for the recognition of third-country CCPs.
Redni pregled pravnih in nadzornih ureditev, ki se na Japonskem uporabljajo za CNS z dovoljenjem v tej državi, ne posega v možnost, da Komisija v sodelovanju z Evropskim organom za vrednostne papirje in trge kadar koli izven okvira splošnih pregledov izvede poseben pregled, če mora zaradi razvoja dogodkov ponovno oceniti, ali še obstaja enakovrednost, določena s tem sklepom.
This Decision is based on the legally binding requirements relating to CTCOs applicable in Japan at the time of the adoption of this Decision.
Takšna ponovna ocena bi lahko pripeljala do razveljavitve tega sklepa.
The Commission should continue monitoring the evolution of the Japanese legal and supervisory framework for CTCOs and the fulfilment of the conditions on the basis of which this decision has been taken.
Ukrepi iz tega sklepa so v skladu z mnenjem Evropskega odbora za vrednostne papirje –
The regular review of the legal and supervisory arrangements applicable in Japan to CCPs authorised therein should be without prejudice to the possibility of the Commission, in cooperation with the European Securities Markets Authority, 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.
SPREJELA NASLEDNJI SKLEP:
Such re-assessment could lead to the repeal of this Decision.
Člen 1
The measures provided for in this Decision are in accordance with the opinion of the European Securities Committee,
Za namene odstavka 6 člena 25 Uredbe (EU) št. 648/2012 se pravne in nadzorne ureditve Japonske, ki so sestavljene iz Zakona o izvedenih finančnih instrumentih na blago iz leta 2009, kakor ga dopolnjujejo Osnovne smernice za nadzor organizacij za kliring transakcij z blagom, in ki se uporabljajo za organizacije za kliring transakcij z blagom (CTCO), ki jim je bilo na Japonskem izdano dovoljenje, štejejo za enakovredne zahtevam iz Uredbe (EU) št. 648/2012.
For the purposes of paragraph 6 of Article 25 of Regulation (EU) No 648/2012, the legal and supervisory arrangements of Japan consisting of the Commodities Derivatives Act 2009 as complemented by the Basic Guidelines on Supervision of Commodity Clearing Organisations, and applicable to commodity transaction clearing organisations (CTCOs) authorised therein shall be considered to be equivalent to the requirements laid down in Regulation (EU) No 648/2012.
V Bruslju, 15. decembra 2016
Done at Brussels, 15 December 2016.
UL L 201, 27.7.2012, str. 1.
For the Commission
S 1. septembrom 2014 se je Odbor za plačilne in poravnalne sisteme preimenoval v Odbor za plačila in tržno infrastrukturo.
The President
Dovoljenje organizacijam za kliring transakcij z blagom mora izdati pristojni minister.
OJ L 201, 27.7.2012, p. 1.
Ta lahko določi pogoje za izdajo licence organizaciji za kliring transakcij z blagom.
As of 1 September 2014 the Committee on Payment and Settlement Systems has changed its name to Committee on Payment and Market Infrastructures.
Ministrstvo za gospodarstvo, trgovino in industrijo ter Ministrstvo za kmetijstvo, gozdarstvo in ribištvo ocenita skladnost organizacij za kliring transakcij z blagom z navedenimi standardi in načeli za infrastrukture finančnega trga.
Commission Implementing Decision (EU) 2016/2276
Izvedbeni sklep Komisije (EU) 2016/2276
on the equivalence of the regulatory framework for central counterparties in Brazil in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council
o enakovrednosti regulativnega okvira Brazilije za centralne nasprotne stranke v skladu z Uredbo (EU) št. 648/2012 Evropskega parlamenta in Sveta
Having regard to Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories [1] and in particular Article 25(6) thereof,
ob upoštevanju Uredbe (EU) št. 648/2012 Evropskega parlamenta in Sveta z dne 4. julija 2012 o izvedenih finančnih instrumentih OTC, centralnih nasprotnih strankah in repozitorijih sklenjenih poslov [1] ter zlasti člena 25(6) Uredbe,
The purpose of this equivalence assessment is therefore to verify that the legal and supervisory arrangements of Brazil 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 Brazilije 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 Brazil for CCPs authorised therein consist of Law 10214 of 27 March 2001 and Resolutions issued by the National Monetary Council (CMN), Circulars issued by the Central Bank of Brazil (BCB) and Instructions issued by the Brazilian Securities and Exchange Commission (CVM) adopted pursuant to it.
Pravno zavezujoče zahteve Brazilije za CNS z dovoljenjem v tej državi zajemajo Zakon 10214 z dne 27. marca 2001 ter resolucije, ki jih izda Nacionalni monetarni svet (Conselho Monetário Nacional, v nadaljnjem besedilu: CMN), okrožnice, ki jih izda Centralna banka Brazilije (Banco Central do Brasil, v nadaljnjem besedilu: BCB), in navodila, ki jih izda brazilska Komisija za vrednostne papirje in borzo (Comissão de Valores Mobiliários, v nadaljnjem besedilu: CVM), sprejete v skladu z navedenim zakonom.
In particular, Resolution 2882, as amended by Resolution 3081, regulates the activities of clearing houses and of clearing services providers, sets out the principles applicable to the functioning of clearing houses and clearing services providers and empower the BCB to regulate, authorise and supervise clearing houses and clearing services providers.
Zlasti Resolucija 2882, kakor je bila spremenjena z Resolucijo 3081, ureja dejavnosti klirinških družb in ponudnikov klirinških storitev, določa načela, ki se uporabljajo za delovanje klirinških družb in ponudnikov klirinških storitev, ter pooblašča BCB za reguliranje, izdajanje dovoljenj ter nadzor klirinških družb in ponudnikov klirinških storitev.
Clearing houses and clearing services providers established in Brazil have to be authorised by the BCB to provide clearing services.
Klirinške družbe in ponudniki klirinških storitev s sedežem v Braziliji morajo imeti dovoljenje BCB za zagotavljanje klirinških storitev.
When considering authorisation as a clearing house or as a provider of clearing services, the BCB must take into account the soundness, the normal functioning and the improvement of the Brazilian payments system.
BCB mora pri obravnavi vloge za izdajo dovoljenja za klirinško družbo ali ponudnika klirinških storitev upoštevati stabilnost, normalno delovanje in izboljševanje brazilskega plačilnega sistema.
The BCB may also specify ‘such conditions as it considers appropriate’ before granting such authorisation or afterwards, based on financial system stability, risk and efficiency of clearing houses and clearing service providers.
Pred odobritvijo takšnega dovoljenja ali po njej lahko določi tudi „pogoje, za katere meni, da so primerni“, in sicer na podlagi stabilnosti finančnega sistema, tveganja in učinkovitosti klirinških družb ter ponudnikov klirinških storitev.
Clearing houses that operate a systemically important system creating risks to the strength and to the smooth functioning of the Brazilian financial system, which is to be determined by the BCB depending on the clearing systems' volume and nature, may be subject to different rules than the rest of clearing houses and clearing service providers.
Za klirinške družbe, ki upravljajo sistemsko pomemben sistem, ki ustvarja tveganja za moč in nemoteno delovanje brazilskega finančnega sistema, kar določi BCB na podlagi obsega in narave klirinškega sistema, lahko veljajo drugačna pravila kot za druge klirinške družbe in ponudnike klirinških storitev.
The BCB has adopted different measures in order to implement Resolution 2882 and to ensure compliance by clearing houses and clearing services providers with the values, principles and rules applicable to the payment system.
BCB je sprejela različne ukrepe za izvajanje Resolucije 2882 in zagotavljanje, da klirinške družbe in ponudniki klirinških storitev upoštevajo vrednosti, načela in pravila, ki se uporabljajo za plačilni sistem.
In particular, Circular 3057 contains the detailed regulation for the functioning of clearing houses and clearing service providers and sets out several requirements that they must comply with, including capital requirements, transparency standards, risk control measures and operational requirements.
Zlasti Okrožnica 3057 vsebuje natančne predpise za delovanje klirinških družb in ponudnikov klirinških storitev ter določa več zahtev, ki jih morajo izpolnjevati, vključno s kapitalskimi zahtevami, standardi preglednosti, ukrepi za nadzor tveganja in operativnimi zahtevami.
The BCB issued Policy Statement No 25097 on the adoption of the Principles for Financial Markets Infrastructures (‘PFMIs’) issued in April 2012 by the Committee on Payment and Settlement Systems [2] ( ‘CPSS’) and the International Organization of Securities Commissions (‘IOSCO’), by which the BCB applies the PFMIs in its supervision and oversight of clearing houses and clearing services providers.
BCB je izdala Izjavo o politiki št. 25097 o sprejetju 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), s katero BCB uvaja načela za infrastrukture finančnega trga v svoj nadzor in pregled klirinških družb in ponudnikov klirinških storitev.
Pursuant to Circular 3057, clearing houses and clearing service providers must adopt internal rules and procedures ensuring compliance with all relevant requirements and containing all the relevant aspects related to its function, including the safeguards to manage credit, liquidity and operational risk.
V skladu z Okrožnico 3057 morajo klirinške družbe in ponudniki klirinških storitev sprejeti notranja pravila in postopke, ki zagotavljajo skladnost z vsemi zadevnimi zahtevami in zajemajo vse pomembne vidike v zvezi z njihovim delovanjem, vključno z zaščitnimi ukrepi za obvladovanje kreditnega, likvidnostnega in operativnega tveganja.
Those internal rules and procedures are submitted to, and firstly assessed by, the BCB in the authorisation procedure.
Navedena notranja pravila in postopki se predložijo BCB, ki jih v postopku izdaje dovoljenja oceni najprej.
In addition, material changes to the internal rules and procedures have to also be approved by the BCB.
Poleg tega mora BCB odobriti tudi pomembne spremembe notranjih pravil in postopkov.
Any other non-material changes to internal rules and procedures must be communicated to the BCB before 30 days after the changes have been made, and the BCB can oppose them.
Sporočiti ji je treba tudi vse druge nepomembne spremembe notranjih pravil in postopkov, in sicer v tridesetih dneh po sprejetju sprememb, BCB pa jim lahko nasprotuje.
The legally binding requirements applicable to CCPs authorised in Brazil therefore comprise a two-tiered structure.
Pravno zavezujoče zahteve, ki se uporabljajo za CNS z dovoljenjem v Braziliji, torej sestavlja dvoplastni sistem.
The core principles contained in Law 10214, and the Resolutions, Circulars and Instructions adopted pursuant to it set out the high-level standards with which clearing houses and clearing service providers must comply in order to obtain authorisation to provide clearing services in Brazil (together, the ‘primary rules’).
Temeljna načela iz Zakona 10214 in resolucij, okrožnic in navodil, sprejetih v skladu z njim, določajo visoke standarde, ki jih morajo klirinške družbe in ponudniki klirinških storitev izpolnjevati, da pridobijo dovoljenje za opravljanje klirinških storitev v Braziliji (skupaj v nadaljnjem besedilu: osnovna pravila).
Those primary rules comprise the first tier of the legally binding requirements in Brazil.
Ta osnovna pravila so prva plast pravno zavezujočih zahtev v Braziliji.
In order to prove compliance with the primary rules, clearing houses and clearing service providers must submit their internal rules and procedures to BCB for approval or non-objection.
Da bi klirinške družbe in ponudniki klirinških storitev dokazali skladnost z osnovnimi pravili, morajo svoja notranja pravila in postopke predložiti v odobritev ali neugovarjanje BCB.
Those internal rules and procedures comprise the second tier of the legally binding requirements in Brazil, which must provide prescriptive detail regarding the way in which the clearing houses and clearing service providers will meet those standards.
Ta interna pravila in postopki so druga plast pravno zavezujočih zahtev v Braziliji, ki mora določati preskriptivne podrobnosti o tem, kako bodo klirinške družbe in ponudniki klirinških storitev izpolnili te standarde.
BCB will assess compliance by clearing houses and clearing service providers with those standards and with the PFMIs.
BCB bo ocenila skladnost klirinških družb in ponudnikov klirinških storitev z navedenimi standardi in načeli za infrastrukture finančnega trga.
Once approved by BCB, the internal rules and procedures become legally binding upon the clearing houses and clearing service providers.
Ko BCB odobri notranja pravila in postopke, ti za klirinške družbe in ponudnike klirinških storitev postanejo pravno zavezujoči.