natgillin/translations-raw huggingface dataset:
obtain on request the information necessary to carry out their supervisory tasks pursuant to Directive 2014/65/EU and Regulation (EU) No 600/2014;
med pristojnim organom investicijskega podjetja in nadzornim organom izvajalca storitev je sklenjen ustrezen dogovor o sodelovanju.
obtain access to the documents relevant for the performance of their supervisory duties maintained in the third country;
Dogovor o sodelovanju iz točke (b) odstavka 1 zagotavlja, da lahko pristojni organi investicijskega podjetja vsaj:
receive information from the supervisory authority in the third country as soon as possible for the purpose of investigating apparent breaches of the requirements of Directive 2014/65/EU and its implementing measures and Regulation (EU) No 600/2014;
na zahtevo pridobijo informacije, potrebne za izvajanje nadzornih nalog v skladu z Direktivo 2014/65/EU in Uredbo (EU) št. 600/2014;
cooperate with regard to enforcement, in accordance with the national and international law applicable to the supervisory authority of the third country and the competent authorities in the Union in cases of breach of the requirements of Directive 2014/65/EU and its implementing measures and relevant national law.
pridobijo dostop do dokumentov, relevantnih za izvajanje njihovih nadzornih nalog, ki se hranijo v tretji državi;
Competent authorities shall publish on their website a list of the supervisory authorities in third countries with which they have a cooperation agreement referred to in point (b) of paragraph 1.
od nadzornega organa v tretji državi prejmejo informacije takoj, ko je mogoče, za namene preiskave očitnih kršitev zahtev Direktive 2014/65/EU in njenih izvedbenih ukrepov ter Uredbe (EU) št. 600/2014;
Competent authorities shall update cooperation agreements concluded before the date of entry into application of this Regulation within six months from that date.
sodelujejo pri izvrševanju v skladu z nacionalnim in mednarodnim pravom, ki se uporablja za nadzorni organ tretje države in pristojne organe v Uniji v primeru kršitve zahtev Direktive 2014/65/EU in njenih izvedbenih ukrepov ter relevantne nacionalne zakonodaje.
SECTION 3
Pristojni organi na svoji spletni strani objavijo seznam nadzornih organov v tretjih državah, s katerimi imajo sklenjene dogovore o sodelovanju iz točke (b) odstavka 1.
Conflicts of interest
Pristojni organi posodobijo dogovore o sodelovanju, sklenjene pred datumom začetka uporabe te uredbe, v šestih mesecih po navedenem datumu.
Article 33
ODDELEK 3
Conflicts of interest potentially detrimental to a client
Nasprotja interesov
(Articles 16(3) and 23 of Directive 2014/65/EU)
Člen 33
For the purposes of identifying the types of conflict of interest that arise in the course of providing investment and ancillary services or a combination thereof and whose existence may damage the interests of a client, investment firms shall take into account, by way of minimum criteria, whether the investment firm or a relevant person, or a person directly or indirectly linked by control to the firm, is in any of the following situations, whether as a result of providing investment or ancillary services or investment activities or otherwise:
Nasprotja interesov, ki so lahko škodljiva za stranko
the firm or that person is likely to make a financial gain, or avoid a financial loss, at the expense of the client;
(člen 16(3) in člen 23 Direktive 2014/65/EU)
the firm or that person has an interest in the outcome of a service provided to the client or of a transaction carried out on behalf of the client, which is distinct from the client's interest in that outcome;
Za namene ugotavljanja vrst nasprotij interesov, ki nastajajo med opravljanjem investicijskih in pomožnih storitev ali njihove kombinacije ter katerih obstoj lahko škoduje interesom stranke, investicijska podjetja s pomočjo minimalnih meril upoštevajo, ali se investicijsko podjetje ali zadevna oseba, ali oseba, ki je s podjetjem neposredno ali posredno povezana prek obvladovanja podjetja, zaradi opravljanja investicijskih ali pomožnih storitev ali investicijskih dejavnosti ali kako drugače nahaja v katerih koli izmed naslednjih okoliščin:
the firm or that person has a financial or other incentive to favour the interest of another client or group of clients over the interests of the client;
podjetje ali navedena oseba bo verjetno ustvarila finančni dobiček ali se izognila finančni izgubi na račun stranke;
the firm or that person carries on the same business as the client;
podjetje ali navedena oseba ima interes v zvezi z rezultati storitve, ki se opravlja za stranko, ali posla, ki se izvede v imenu stranke, ki je drugačen od interesa stranke v zvezi s temi rezultati;
the firm or that person receives or will receive from a person other than the client an inducement in relation to a service provided to the client, in the form of monetary or non-monetary benefits or services.
podjetje ali navedena oseba ima finančno ali drugo spodbudo, da interesu druge stranke ali skupine strank da prednost pred interesom stranke;
Article 34
podjetje ali navedena oseba opravlja isto poslovno dejavnost kot stranka;
Conflicts of interest policy
podjetje ali navedena oseba prejme ali bo prejela od osebe, ki ni stranka, spodbudo v zvezi s storitvijo, ki se opravlja za stranko, v obliki denarnih ali nedenarnih koristi ali storitev.
Investment firms shall establish, implement and maintain an effective conflicts of interest policy set out in writing and appropriate to the size and organisation of the firm and the nature, scale and complexity of its business.
Člen 34
Where the firm is a member of a group, the policy shall also take into account any circumstances, of which the firm is or should be aware, which may give rise to a conflict of interest arising as a result of the structure and business activities of other members of the group.
Politika obvladovanja nasprotij interesov
The conflicts of interest policy established in accordance with paragraph 1 shall include the following content:
Investicijska podjetja vzpostavijo, izvajajo in ohranjajo učinkovito politiko obvladovanja nasprotij interesov, ki je v pisni obliki in je primerna glede na velikost in organizacijo podjetja ter naravo, obseg in kompleksnost njegovega poslovanja.
it must identify, with reference to the specific investment services and activities and ancillary services carried out by or on behalf of the investment firm, the circumstances which constitute or may give rise to a conflict of interest entailing a risk of damage to the interests of one or more clients;
Če je podjetje član skupine, politika upošteva tudi okoliščine, s katerimi je podjetje seznanjeno ali bi moralo biti seznanjeno, ki lahko privedejo do nasprotja interesov zaradi strukture in poslovnih dejavnosti drugih članov skupine.
it must specify procedures to be followed and measures to be adopted in order to prevent or manage such conflicts.
Politika obvladovanja nasprotij interesov, vzpostavljena v skladu z odstavkom 1, vključuje vsaj naslednje vsebine:
The procedures and measures referred to in paragraph 2(b) shall be designed to ensure that relevant persons engaged in different business activities involving a conflict of interest of the kind specified in paragraph 2(a) carry on those activities at a level of independence appropriate to the size and activities of the investment firm and of the group to which it belongs, and to the risk of damage to the interests of clients.
v zvezi s specifičnimi investicijskimi storitvami in dejavnostmi ter pomožnimi storitvami, ki jih opravlja investicijsko podjetje ali se opravljajo v njegovem imenu, mora določiti okoliščine, ki predstavljajo ali zaradi katerih lahko pride do nasprotja interesov, ki predstavlja tveganje škodovanja interesom ene ali več strank;
For the purposes of paragraph 2(b), the procedures to be followed and measures to be adopted shall include at least those items in the following list that are necessary for the firm to ensure the requisite degree of independence:
navajati mora postopke, ki jim je treba slediti, in ukrepe, ki jih je treba sprejeti za preprečevanje ali obvladovanje takih nasprotij.
effective procedures to prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest where the exchange of that information may harm the interests of one or more clients;
Postopki in ukrepi iz odstavka 2(b) so zasnovani tako, da zagotovijo, da zadevne osebe, ki opravljajo različne poslovne dejavnosti, pri katerih obstaja možnost nasprotja interesov, kot je opisano v odstavku 2(a), opravljajo navedene dejavnosti s stopnjo neodvisnosti, ki ustreza obsegu in dejavnostim investicijskega podjetja in skupine, ki jih pripada, ter tveganju škodovanja interesom strank.
the separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the firm;
Za namene odstavka 2(b) postopki, ki jih je treba uporabljati, in ukrepi, ki jih je treba sprejeti, vključujejo vsaj tiste postopke in ukrepe z naslednjega seznama, ki so potrebni, da podjetje zagotovi zahtevano stopnjo neodvisnosti:
the removal of any direct link between the remuneration of relevant persons principally engaged in one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities;
učinkovite postopke za preprečevanje ali nadziranje izmenjave informacij med zadevnimi osebami, ki opravljajo dejavnosti s tveganjem nasprotij interesov, če bi lahko izmenjava takih informacij škodovala interesom ene ali več strank;
measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out investment or ancillary services or activities;
ločen nadzor zadevnih oseb, katerih glavne funkcije vključujejo izvajanje dejavnosti v imenu strank ali opravljanje storitev za stranke, katerih interesi bi lahko bili v nasprotju ali ki kako drugače predstavljajo drugačne interese, ki bi lahko bili v nasprotju, vključno z interesi podjetja;
measures to prevent or control the simultaneous or sequential involvement of a relevant person in separate investment or ancillary services or activities where such involvement may impair the proper management of conflicts of interest.
odstranitev vsake neposredne povezave med prejemki zadevnih oseb, ki se ukvarjajo predvsem z eno dejavnostjo, in prejemki ali ustvarjenimi prihodki drugih zadevnih oseb, ki se ukvarjajo predvsem z drugo dejavnostjo, kadar bi lahko v zvezi s temi dejavnostmi prišlo do nasprotja interesov;
Investment firms shall ensure that disclosure to clients, pursuant to Article 23(2) of Directive 2014/65/EU, is a measure of last resort that shall be used only where the effective organisational and administrative arrangements established by the investment firm to prevent or manage its conflicts of interest in accordance with Article 23 of Directive 2014/65/EU are not sufficient to ensure, with reasonable confidence, that risks of damage to the interests of the client will be prevented.
ukrepe za preprečevanje ali omejevanje tveganja, da katera koli oseba izvaja neustrezen vpliv na način, na katerega zadevna oseba opravlja investicijske ali pomožne storitve ali dejavnosti;
The disclosure shall clearly state that the organisational and administrative arrangements established by the investment firm to prevent or manage that conflict are not sufficient to ensure, with reasonable confidence, that the risks of damage to the interests of the client will be prevented.
ukrepe za preprečevanje ali nadziranje hkratnega ali naknadnega ukvarjanja zadevne osebe z ločenimi investicijskimi ali pomožnimi storitvami ali dejavnostmi, če lahko slednje ovira ustrezno obvladovanje nasprotij interesov.
The disclosure shall include specific description of the conflicts of interest that arise in the provision of investment and/or ancillary services, taking into account the nature of the client to whom the disclosure is being made.
Investicijska podjetja zagotovijo, da so razkritja strankam v skladu s členom 23(2) Direktive 2014/65/EU skrajno sredstvo, ki se uporabi samo, kadar učinkovite organizacijske in upravne ureditve, ki jih je investicijsko podjetje vzpostavilo za preprečevanje ali obvladovanje nasprotij interesov v skladu s členom 23 Direktive 2014/65/EU, ne zadoščajo za zagotavljanje s primerno stopnjo verjetnosti, da bo nevarnost škodovanja interesom strank preprečena.
The description shall explain the general nature and sources of conflicts of interest, as well as the risks to the client that arise as a result of the conflicts of interest and the steps undertaken to mitigate these risks, in sufficient detail to enable that client to take an informed decision with respect to the investment or ancillary service in the context of which the conflicts of interest arise.
Pri razkritju je jasno navedeno, da učinkovite organizacijske in upravne ureditve, ki jih je investicijsko podjetje vzpostavilo za preprečevanje ali obvladovanje navedenega interesa, ne zadoščajo za zagotavljanje s primerno stopnjo verjetnosti, da bo nevarnost škodovanja interesom strank preprečena.
Investment firms shall assess and periodically review, on an at least annual basis, the conflicts of interest policy established in accordance with paragraphs 1 to 4 and shall take all appropriate measures to address any deficiencies.
Razkritje vključuje specifičen opis nasprotij interesov, ki nastajajo pri izvajanju investicijskih in/ali pomožnih storitev, pri čemer se upošteva narava stranke, ki se ji zagotavlja razkritje.
Over-reliance on disclosure of conflicts of interest shall be considered a deficiency in the investment firm's conflicts of interest policy.
V opisu so razloženi splošna narava in viri nasprotij interesov ter tveganja za stranko, ki izhajajo iz nasprotij interesov, kot tudi koraki za zmanjševanje teh tveganj, in sicer dovolj podrobno, da lahko stranka sprejme informirano odločitev glede investicijske ali pomožne storitve, v okviru katere je prišlo do nasprotij interesov.
Article 35
Investicijska podjetja ocenijo in redno, tj. vsaj enkrat letno, pregledajo politiko obvladovanja nasprotij interesov, vzpostavljeno v skladu s členi 1 do 4, ter sprejmejo ustrezne ukrepe za odpravo morebitnih pomanjkljivosti.
Record of services or activities giving rise to detrimental conflict of interest
Čezmerno zanašanje na razkrivanje nasprotij interesov se šteje za pomanjkljivost v politiki obvladovanja nasprotij interesov investicijskega podjetja.
(Article 16(6) of Directive 2014/65/EU)
Člen 35
Investment firms shall keep and regularly update a record of the kinds of investment or ancillary service or investment activity carried out by or on behalf of the firm in which a conflict of interest entailing a risk of damage to the interests of one or more clients has arisen or, in the case of an ongoing service or activity, may arise.
Evidenca storitev ali dejavnosti, ki povzročajo škodljiva nasprotja interesov
Senior management shall receive on a frequent basis, and at least annually, written reports on situations referred to in this Article.
(člen 16(6) Direktive 2014/65/EU)
Article 36
Investicijska podjetja vodijo in redno posodabljajo evidenco vseh investicijskih ali pomožnih storitev ali investicijskih dejavnosti, ki jih izvaja podjetje ali ki se izvajajo v njegovem imenu, pri katerih je prišlo do ali, v primeru tekoče storitve ali dejavnosti, lahko pride do nasprotja interesov, ki predstavlja tveganje škodovanja interesom ene ali več strank.
Investment research and marketing communications
Višje vodstvo redno in vsaj enkrat na leto prejme pisna poročila o primerih iz tega člena.
(Article 24(3) of Directive 2014/65/EU)
Člen 36
For the purposes of Article 37 investment research shall be research or other information recommending or suggesting an investment strategy, explicitly or implicitly, concerning one or several financial instruments or the issuers of financial instruments, including any opinion as to the present or future value or price of such instruments, intended for distribution channels or for the public, and in relation to which the following conditions are met:
Investicijske raziskave in tržna sporočila
the research or information is labelled or described as investment research or in similar terms, or is otherwise presented as an objective or independent explanation of the matters contained in the recommendation;
(člen 24(3) Direktive 2014/65/EU)
if the recommendation in question were made by an investment firm to a client, it would not constitute the provision of investment advice for the purposes of Directive 2014/65/EU.
Za namene člena 37 so investicijske raziskave raziskave ali druge informacije, na podlagi katerih se eksplicitno ali implicitno priporoči ali predlaga investicijska strategija v zvezi z enim ali več finančnimi instrumenti ali izdajalci finančnih instrumentov, vključno z mnenjem glede sedanje ali prihodnje vrednosti ali cene takih instrumentov, namenjenih za distribucijske kanale ali za javnost, ter v zvezi s katerimi so izpolnjeni naslednji pogoji:
A recommendation of the type covered by point (35) of Article 3(1) of Regulation (EU) No 596/2014 that does not meet the conditions set out in paragraph 1 shall be treated as a marketing communication for the purposes of Directive 2014/65/EU and investment firms that produce or disseminate that recommendation shall ensure that it is clearly identified as such.
raziskave ali informacije so označene ali opisane kot investicijska raziskava ali podobno, oziroma so sicer predstavljene kot objektivna ali neodvisna obrazložitev zadev, vsebovanih v priporočilu;
Additionally, firms shall ensure that any such recommendation contains a clear and prominent statement that (or, in the case of an oral recommendation, to the effect that) it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
če bi investicijsko podjetje zadevno poročilo dalo stranki, to ne bi predstavljajo investicijskega svetovanja za namene Direktive 2014/65/EU.
Article 37
Priporočilo vrste, zajete s točko 35 člena 3(1) Uredbe (EU) št. 596/2014, ki ne izpolnjuje pogojev iz odstavka 1, se obravnava kot tržno sporočilo za namene Direktive 2014/65/EU, investicijska podjetja, ki pripravijo ali objavijo tako priporočilo, pa zagotovijo, da je to jasno označeno kot tako.
Additional organisational requirements in relation to investment research or marketing communications
Poleg tega podjetja zagotovijo, da vsako tako priporočilo vsebuje jasno in poudarjeno izjavo, da (tudi v primeru ustnega priporočila) ni bilo pripravljeno v skladu z zakonskimi zahtevami, katerih cilj je spodbujanje neodvisnosti investicijskih raziskav, in da se zanj ne uporablja prepoved trgovanja pred objavo investicijske raziskave.
(Article 16(3) of Directive 2014/65/EU)
Člen 37
Investment firms which produce, or arrange for the production of, investment research that is intended or likely to be subsequently disseminated to clients of the firm or to the public, under their own responsibility or that of a member of their group, shall ensure the implementation of all the measures set out in Article 34(3) in relation to the financial analysts involved in the production of the investment research and other relevant persons whose responsibilities or business interests may conflict with the interests of the persons to whom the investment research is disseminated.
Dodatne organizacijske zahteve v zvezi z investicijskimi raziskavami ali tržnimi sporočili
The obligations in the first subparagraph shall also apply in relation to recommendations referred to in Article 36(2).
(člen 16(3) Direktive 2014/65/EU)
Investment firms referred to in the first subparagraph of paragraph 1 shall have in place arrangements designed to ensure that the following conditions are satisfied:
Investicijska podjetja, ki pripravljajo ali urejajo pripravo investicijskih raziskav, namenjenih poznejši objavi ali za katere je verjetno, da se bodo pozneje razširile strankam podjetja ali javnosti, na podlagi lastne odgovornosti ali na podlagi odgovornosti člana skupine, zagotovijo izvajanje vseh ukrepov iz člena 34(3) v zvezi s finančnimi analitiki, ki sodelujejo pri pripravi investicijskih raziskav, in drugimi zadevnimi osebami, katerih odgovornosti ali poslovni interesi bi lahko bili v nasprotju z interesi oseb, ki se jim predloži investicijska raziskava.
financial analysts and other relevant persons do not undertake personal transactions or trade, other than as market makers acting in good faith and in the ordinary course of market making or in the execution of an unsolicited client order, on behalf of any other person, including the investment firm, in financial instruments to which investment research relates, or in any related financial instruments, with knowledge of the likely timing or content of that investment research which is not publicly available or available to clients and cannot readily be inferred from information that is so available, until the recipients of the investment research have had a reasonable opportunity to act on it;
Obveznosti iz prvega pododstavka se uporabljajo tudi v zvezi s priporočili iz člena 36(2).
in circumstances not covered by point (a), financial analysts and any other relevant persons involved in the production of investment research do not undertake personal transactions in financial instruments to which the investment research relates, or in any related financial instruments, contrary to current recommendations, except in exceptional circumstances and with the prior approval of a member of the firm's legal or compliance function;
Investicijska podjetja iz prvega pododstavka odstavka 1 imajo vzpostavljene ureditve, s katerimi zagotovijo izpolnjevanje naslednjih pogojev:
a physical separation exists between the financial analysts involved in the production of investment research and other relevant persons whose responsibilities or business interests may conflict with the interests of the persons to whom the investment research is disseminated or, when considered not appropriate to the size and organisation of the firm as well as the nature, scale and complexity of its business, the establishment and implementation of appropriate alternative information barriers;
finančni analitiki in druge zadevne osebe ne izvajajo osebnih poslov ali trgovanja, razen kot vzdrževalci trga, ki delujejo v dobri veri in v okviru običajnega vzdrževanja trga ali izvajanja nezahtevanih naročil strank, v imenu katere koli druge osebe, vključno z investicijskim podjetjem, s finančnimi instrumenti, na katere se nanaša investicijska raziskava, ali s katerimi koli povezanimi finančnimi instrumenti, če poznajo verjeten čas ali vsebino navedene investicijske raziskave, ki ni javno objavljena ali na voljo strankam in je ni mogoče zlahka sklepati na podlagi informacij, ki so tako na voljo, dokler prejemniki investicijske raziskave nimajo razumne priložnosti, da ukrepajo na podlagi le-te;
the investment firms themselves, financial analysts, and other relevant persons involved in the production of the investment research do not accept inducements from those with a material interest in the subject-matter of the investment research;
v okoliščinah, ki niso zajete v točki (a), finančni analitiki in druge zadevne osebe, ki sodelujejo pri pripravi investicijske raziskave, ne izvajajo osebnih poslov s finančnimi instrumenti, na katere se nanaša investicijska raziskava, ali s katerimi koli drugimi povezanimi finančnimi instrumenti, v nasprotju s tekočimi priporočili, razen v izjemnih okoliščinah in na podlagi predhodne odobritve člana pravne funkcije ali funkcije zagotavljanja skladnosti s predpisi podjetja;