natgillin/translations-raw huggingface dataset:
If the communication or published information is in a medium other than a durable medium or a webpage, the risk warning shall be in the format specified in Section C.
za posamezni trgovalni račun malega vlagatelja s CFD-ji šteje, da je izgubil denar, če je vsota vse realiziranih in nerealiziranih neto dobičkov od CFD-jev, povezanih s trgovalnim računom s CFD-ji, v 12-mesečnem obdobju izračuna negativna;
By way of derogation to paragraphs 2 and 3, if the number of characters contained in the risk warning in the format specified in Section B or C exceeds the character limit permitted in the standard terms of a third party marketing provider, the risk warning may instead be in the format specified in Section D.
v izračun vključijo vsi stroški v zvezi s CFD-ji, povezanimi s trgovalnim računom s CFD-ji, vključno z vsemi dajatvami, nadomestili in provizijami;
If the risk warning in the format specified in Section D is used, the communication or published information shall also include a direct link to the webpage of the CFD provider containing the risk warning in the format specified in Section B.
iz izračuna izključijo naslednje postavke:
The risk warning shall include an up-to-date provider-specific loss percentage based on a calculation of the percentage of CFD trading accounts provided to retail clients by the CFD provider that lost money.
vsak trgovalni račun s CFD-ji, s katerim v obdobju izračuna ni bila povezana nobena odprta pozicija CFD-jev;
The calculation shall be performed every three months and cover the 12-month period preceding the date on which it is performed (‘12-month calculation period’).
vsi dobički ali izgube od produktov, ki niso CFD-ji, povezani s trgovalnim računom s CFD-ji;
For the purposes of the calculation:
vsi pologi ali dvigi sredstev s trgovalnega računa s CFD-ji.
an individual retail client CFD trading account shall be considered to have lost money if the sum of all realised and unrealised net profits on CFDs connected to the CFD trading account during the 12-month calculation period is negative;
Z odstopanjem od odstavkov od 2 do 6, če ponudnik CFD-jev v zadnjem 12-mesečnem obdobju izračuna ni zagotovil odprtja pozicij CFD-ja, povezanega s trgovalnim računom malega vlagatelja s CFD-ji, navedeni ponudnik CFD-jev uporabi standardno opozorilo o tveganju iz oddelkov E do G, kot je primerno.
any costs relating to the CFDs connected to the CFD trading account shall be included in the calculation, including all charges, fees and commissions;
ODDELEK B
the following items shall be excluded from the calculation:
Opozorilo o tveganju na trajnem nosilcu in spletni strani, specifično za ponudnika
any CFD trading account that did not have an open CFD connected to it within the calculation period;
Pogodbe na razliko so kompleksni instrumenti in prinašajo veliko tveganje hitre izgube denarja zaradi finančnega vzvoda.
any profits or losses from products other than CFDs connected to the CFD trading account;
Pri trgovanju s pogodbami na razliko pri tem ponudniku denar izgubi [navedite odstotek ponudnika] % računov malih vlagateljev.
any deposits or withdrawals of funds from the CFD trading account.
Razmislite, ali razumete, kako delujejo CFD-ji, in ali se lahko odločite za veliko tveganje, da boste izgubili denar.
By way of derogation from paragraphs 2 to 6, if in the last 12-month calculation period a CFD provider has not provided an open CFD connected to a retail client CFD trading account, that CFD provider shall use the standard risk warning in the format specified in Sections E to G, as appropriate.
ODDELEK C
SECTION B
Skrajšano opozorilo o tveganju, specifično za ponudnika
Durable medium and webpage provider-specific risk warning
Razmislite, ali se lahko odločite za veliko tveganje, da boste izgubili denar.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
ODDELEK D
[insert percentage per provider] % of retail investor accounts lose money when trading CFDs with this provider.
Opozorilo o tveganju z zmanjšanim številom znakov, ki velja za posamezne ponudnike
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
[vnesite odstotek za ponudnika] % računov s CFD-ji ima izgubo.
SECTION C
ODDELEK E
Abbreviated provider-specific risk warning
Standardno opozorilo o tveganju na trajnem nosilcu in spletni strani
You should consider whether you can afford to take the high risk of losing your money.
Pri trgovanju s pogodbami na razliko denar izgubi od 74 % do 89 % računov malih vlagateljev.
SECTION D
ODDELEK F
Reduced character provider-specific risk warning
Skrajšano standardno opozorilo o tveganju
[insert percentage per provider] % of retail CFD accounts lose money.
ODDELEK G
SECTION E
Opozorilo o tveganju z zmanjšanim številom znakov
Durable medium and webpage standard risk warning
74–89 % računov s CFD-ji ima izgubo.
Between 74-89 % of retail investor accounts lose money when trading CFDs.
Pristojni nacionalni organi so v mesecu avgustu 2018 v primerjavi z avgustom 2017 poročali o splošnem zmanjšanju števila trgovalnih računov s CFD-ji malih vlagateljev, obsega trgovanja in skupnega lastniškega kapitala malih vlagateljev.
SECTION F
Delež dobičkonosnih računov malih vlagateljev se je rahlo zmanjšal, a je to zlasti posledica visoke cene kriptovalut v avgustu 2017.
Abbreviated standard risk warning
Na primerjavo rezultatov za vlagatelje v določenem časovnem obdobju ne vplivajo samo ukrepi za poseganje na trg produktov, ampak na primer tudi razmere na trgu.
SECTION G
Avgusta 2017 so bile razmere na trgu v porastu v primerjavi z avgustom 2018.
Reduced character standard risk warning
Poleg tega se je število malih vlagateljev spremenilo.
74-89 % of retail CFD accounts lose money.
Pristojni nacionalni organi so v mesecu avgustu 2018 v primerjavi z avgustom 2017 poročali tudi o povečanju vlagateljev, ki so zaprosili, da bi bili razvrščeni kot profesionalni vlagatelji.
NCAs reported an overall decrease in the number of CFD retail client accounts, trading volume and total retail client equity over the month of August 2018 in comparison with August 2017.
Organ ESMA se zaveda, da se nekateri ponudniki CFD-jev obračajo na male vlagatelje z obljubo, da bodo lahko razvrščeni kot profesionalni vlagatelji, če bodo za to zaprosili.
European Securities and Markets Authority Decision (EU) 2018/2064
Sklep Evropskega organa za vrednostne papirje in trge (EU) 2018/2064
renewing the temporary prohibition on the marketing, distribution or sale of binary options to retail clients
o podaljšanju začasne prepovedi trženja, razširjanja ali prodaje binarnih opcij malim vlagateljem
By Decision (EU) 2018/795, the European Securities and Markets Authority (ESMA) prohibited the marketing, distribution or sale of binary options to retail clients with effect from 2 July 2018 for a period of three months.
Evropski organ za vrednostne papirje in trge (ESMA) je s Sklepom (EU) 2018/795 prepovedal trženje, razširjanje ali prodajo binarnih opcij malim vlagateljem.
In accordance with Article 40(6) of Regulation (EU) No 600/2014, ESMA must review a temporary product intervention measure at appropriate intervals and at least every three months.
Ukrep je začel veljati 2. julija 2018 za obdobje treh mesecev.
By Decision (EU) 2018/1466, ESMA renewed and amended the temporary prohibition on the marketing, distribution or sale of binary options to retail clients with effect from 2 October 2018 for a period of three months.
V skladu s členom 40(6) Uredbe (EU) št. 600/2014 mora organ ESMA začasne ukrepe prepovedi v zvezi s produkti pregledati v ustreznih časovnih presledkih in vsaj vsake tri mesece.
ESMA's further review of the prohibition on binary options has been informed by, inter alia, a survey amongst national competent authorities (NCAs) on the practical application and impact of the product intervention measure as well as additional information provided by NCAs and stakeholders.
Organ ESMA je s Sklepom (EU) 2018/1466 podaljšal in spremenil začasno prepoved trženja, razširjanja ali prodaje binarnih opcij malim vlagateljem.
NCAs detected only limited examples of non-compliance with the ESMA product intervention measures.
Ukrep je začel veljati 2. oktobra 2018 za obdobje treh mesecev.
Furthermore, no new authorisations have been provided to firms that market, distribute or sell binary options since the announcement of the agreed measures on 27 March 2018.
Organ ESMA se je v okviru svojega nadaljnjega pregleda prepovedi binarnih opcij med drugim opiral na raziskavo med pristojnimi nacionalnimi organi o praktični uporabi in učinku ukrepa za poseganje v zvezi s produkti ter na dodatne informacije, ki jih je dobil od teh organov in deležnikov.
NCAs noticed a slight increase in the number of clients treated as professional clients on request.
Pristojni nacionalni organi so zaznali samo nekaj primerov neskladnosti z ukrepi organa ESMA za poseganje v zvezi s produkti.
However, the number of professional clients on request is relatively small in comparison to the previous number of retail clients of providers of binary options.
Poleg tega od objave dogovorjenih ukrepov dne 27. marca 2018 podjetjem, ki tržijo, razširjajo ali prodajajo binarne opcije, niso bila izdana nobena nova dovoljenja.
ESMA is aware that some third-country firms are actively approaching Union clients.
Pristojni nacionalni organi so poročali o rahlem povečanju vlagateljev, ki so zaprosili, da bi bili razvrščeni kot profesionalni vlagatelji.
However, without authorisation or registration in the Union, these firms are only allowed to offer services to clients established or situated in the Union at the client's own exclusive initiative.
Kljub temu je število profesionalnih vlagateljev, ki so sami zaprosili za to razvrstitev, sorazmerno majhno v primerjavi s prejšnjim številom neprofesionalnih vlagateljev, ki so bili stranke ponudnikov binarnih opcij.
ESMA is also aware that firms are starting to provide other speculative investment products.
Organ ESMA se zaveda, da določena podjetja iz tretjih držav aktivno nagovarjajo vlagatelje iz Unije.
ESMA will continue to monitor the offer of these other products to determine whether any other Union measures are appropriate.
Vendar lahko ta podjetja brez dovoljenja ali registracije v Uniji storitve opravljajo samo na lastno pobudo vlagateljev, ki imajo sedež ali se nahajajo v Uniji.
Since the adoption of Decision (EU) 2018/795, ESMA did not obtain evidence contradicting its overall finding of a significant investor protection concern identified in Decision (EU) 2018/795 or Decision (EU) 2018/1466 (Decisions).
Organ ESMA se prav tako zaveda, da so podjetja začela ponujati druge špekulativne investicijske produkte.
ESMA has therefore concluded that the significant investor protection concern identified in the Decisions would persist if the temporary prohibition on the marketing, distribution or sale of binary options to retail clients is not renewed.
Zato bo še naprej spremljal ponudbo teh drugih produktov, da bo ugotovil, ali bi bili ustrezni še kateri koli drugi ukrepi Unije.
Moreover, the applicable existing regulatory requirements under Union law have not changed and continue not to address the threat identified by ESMA.
Organ ESMA od sprejetja Sklepa (EU) 2018/795 ni pridobil dokazov, ki bi nasprotovali njegovi splošni ugotovitvi o skrbi glede zaščite vlagateljev, ugotovljeni v Sklepu (EU) 2018/795 ali Sklepu (EU) 2018/1466 (v nadaljnjem besedilu: sklepa).
Furthermore, NCAs have not taken action to address the threat or the actions taken do not adequately address the threat.
Zato je zaključil, da bi skrb glede zaščite vlagateljev, ugotovljena v sklepih, obstajala še naprej, če začasne prepovedi trženja, razširjanja ali prodaje binarnih opcij malim vlagateljem ne bi podaljšali.
In particular, since the adoption of Decision (EU) 2018/795, no NCA has adopted its own national product intervention measure under Article 42 of Regulation (EU) No 600/2014.
Hkrati se veljavne obstoječe regulativne zahteve v skladu s pravom Unije niso spremenile in še naprej ne odpravljajo nevarnosti, ki jo je ugotovil organ ESMA.
The renewal of the prohibition does not have a detrimental effect on the efficiency of financial markets or on investors that is disproportionate to the benefits of the action and does not create a risk of regulatory arbitrage for the same reasons set out in the Decisions.
Poleg tega pristojni nacionalni organi niso sprejeli ukrepov, s katerimi bi odpravili nevarnost, ali pa sprejeti ukrepi ne zadostujejo za njeno odpravo.
If the temporary prohibition is not renewed, ESMA continues to consider it likely that binary options will again be offered to retail clients and that the same or similar products will return to the market that gave rise to the consumer detriment identified in the Decisions.
Od sprejetja Sklepa (EU) 2018/795 namreč noben pristojni nacionalni organ ni sprejel svojega nacionalnega ukrepa za poseganje v zvezi s produkti v skladu s členom 42 Uredbe (EU) št. 600/2014.
In view of these reasons, taken together with the reasons set out in the Decisions, ESMA has decided to renew the prohibition on the same terms as those set out in Decision (EU) 2018/1466 for a further three-month period to address the significant investor protection concern.
Podaljšanje prepovedi nima negativnega učinka na učinkovitost finančnih trgov ali na vlagatelje, ki bi bil nesorazmeren glede na koristi ukrepa, in ne povzroča tveganja regulativne arbitraže iz enakih razlogov kot v navedenih sklepih.
As the proposed measures may, to a limited extent, relate to agricultural commodities derivatives, ESMA has consulted the public bodies competent for the oversight, administration and regulation of physical agricultural markets under Council Regulation (EC) No 1234/2007.
Če se začasna prepoved ne podaljša, obstaja po mnenju organa ESMA še vedno velika verjetnost, da bodo malim vlagateljem ponovno ponujali binarne opcije ter da se bodo na trg vrnili isti ali podobni produkti, ki so povzročili škodo za potrošnike, ugotovljeno v navedenih sklepih.
None of those bodies has raised any objections to the proposed renewal of the measures.
Organ ESMA je ob upoštevanju teh razlogov ter skupaj z razlogi, izraženimi v sklepih, sklenil, da za nadaljnje tri mesece podaljša prepoved pod enakimi pogoji, kot so določeni v Sklepu (EU) 2018/1466, da se odpravijo nevarnosti glede zaščite vlagateljev.
ESMA has notified NCAs of the proposed renewal Decision,
Ker so lahko predlagani ukrepi v omejenem obsegu povezani z izvedenimi finančnimi instrumenti na kmetijske proizvode, se je organ ESMA posvetoval z javnimi organi, pristojnimi za nadzor, upravljanje in regulacijo fizičnih kmetijskih trgov v Uredbi (ES) št. 1234/2007.
HAS ADOPTED THIS DECISION:
Noben organ ni izrazil zadržka glede predlaganega podaljšanja ukrepov.
Article 1
Organ ESMA je pristojne nacionalne organe obvestil o predlaganem sklepu o podaljšanju –
Temporary prohibition on binary options in respect of retail clients
SPREJEL NASLEDNJI SKLEP:
The marketing, distribution or sale to retail clients of binary options is prohibited.
Člen 1
For the purposes of paragraph 1, irrespective of whether it is traded on a trading venue, a binary option is a derivative that meets the following conditions:
Začasna prepoved binarnih opcij za male vlagatelje
it must be settled in cash or may be settled in cash at the option of one of the parties other than by reason of default or other termination event;
Trženje, razširjanje ali prodaja binarnih opcij malim vlagateljem je prepovedana.
it only provides for payment at its close-out or expiry;
Za namene odstavka 1 je binarna opcija, ne glede na to, ali se trguje na mestu trgovanja ali ne, izvedeni finančni instrument, ki izpolnjuje naslednja merila:
its payment is limited to:
mora biti poravnan z gotovino ali se lahko poravna v gotovini po izbiri ene od strank, razen v primeru neizpolnitve obveznosti ali drugega razloga za prenehanje;
a predetermined fixed amount or zero if the underlying of the derivative meets one or more predetermined conditions; and
predvideva plačilo le ob njegovem zaprtju ali poteku;
a predetermined fixed amount or zero if the underlying of the derivative does not meet one or more predetermined conditions.
njegovo plačilo je omejeno na:
The prohibition in paragraph 1 does not apply to:
predhodno določeni fiksni znesek ali nič, če osnovni instrument izvedenega finančnega instrumenta izpolnjuje enega ali več predhodno določenih pogojev, in
a binary option for which the lower of the two predetermined fixed amounts is at least equal to the total payment made by a retail client for the binary option, including any commission, transaction fees and other related costs;
predhodno določeni fiksni znesek ali nič, če osnovni instrument izvedenega finančnega instrumenta ne izpolnjuje enega ali več predhodno določenih pogojev.
a binary option that meets the following conditions:
Prepoved iz odstavka 1 ne velja za:
the term from issuance to maturity is at least 90 calendar days;
binarno opcijo, pri kateri je nižji od dveh vnaprej določenih fiksnih zneskov najmanj enak skupnemu plačilu malega vlagatelja za binarno opcijo, vključno s provizijami, pristojbinami za transakcijo ali drugimi povezanimi stroški;
a prospectus drawn up and approved in accordance with Directive 2003/71/EC of the European Parliament and of the Council is available to the public; and
binarno opcijo, ki izpolnjuje naslednje pogoje:
the binary option does not expose the provider to market risk throughout the term of the binary option and the provider or any of its group entities do not make a profit or loss from the binary option, other than previously disclosed commission, transaction fees or other related charges.
rok od izdaje do dospelosti je najmanj 90 koledarskih dni;
Article 2
javnosti je na voljo prospekt, ki je sestavljen in odobren v skladu z Direktivo 2003/71/ES Evropskega parlamenta in Sveta; in
Prohibition of participating in circumvention activities
binarna opcija med njenim celotnim trajanjem ponudnika ne izpostavlja tržnemu tveganju, ponudnik ali kateri koli od subjektov v njegovi skupini pa ne ustvari dobička ali izgub iz binarne opcije, razen predhodno razkritih provizij, pristojbin za transakcije ali drugih povezanih taks.
It shall be prohibited to participate, knowingly and intentionally, in activities the object or effect of which is to circumvent the requirements in Article 1, including by acting as a substitute for the binary option provider.
Člen 2
Article 3
Prepoved dejanj, ki bi predstavljala izogibanje
Entry into force and application
Prepovedano je sodelovati, zavestno in namerno, pri dejavnostih, katerih cilj ali učinek je izogibati se določbam člena 1, vključno z delovanjem kot nadomestek za ponudnika binarnih opcij.
This Decision enters into force on the day following that of its publication in the Official Journal of the European Union.
Člen 3
This Decision shall apply from 2 January 2019 for a period of 3 months.
Začetek veljavnosti in uporaba
Done at Paris, 14 December 2018.
Ta sklep začne veljati dan po objavi v Uradnem listu Evropske unije.
For the Board of Supervisors
Ta sklep se uporablja od 2. januarja 2019 za obdobje treh mesecev.
The Chair
V Parizu, 14. decembra 2018
OJ L 331, 15.12.2010, p. 84.
Za odbor nadzornikov
OJ L 173, 12.6.2014, p. 84.
Predsednik
OJ L 87, 31.3.2017, p. 90.
UL L 331, 15.12.2010, str. 84.
European Securities and Markets Authority Decision (EU) 2018/795 of 22 May 2018 to temporarily prohibit the marketing, distribution or sale of binary options to retail clients in the Union in accordance with Article 40 of Regulation (EU) No 600/2014 of the European Parliament and of the Council (OJ L 136, 1.6.2018, p. 31).
UL L 173, 12.6.2014, str. 84.
European Securities and Markets Authority Decision (EU) 2018/1466 of 21 September 2018 renewing and amending the temporary prohibition in Decision (EU) 2018/795 on the marketing, distribution or sale of binary options to retail clients (OJ L 245, 1.10.2018, p. 17).
UL L 87, 31.3.2017, str. 90.
24 NCAs have responded: Financial Market Authority (AT – FMA), Cyprus Securities and Exchange Commission (CY-CySEC), Czech National Bank (CZ – CNB), Bundesanstalt für Finanzdienstleistungsaufsicht (DE – BaFiN), Finanstilsynet (DK-Finanstilsynet), Hellenic Capital Markets Commission (EL-HCMC), Comisión Nacional del Mercado de Valores (ES – CNMV), Finnish Financial Supervisory Authority (FI – FSA), Autorité des Marchés Financiers (FR – AMF), Magyar Nemzeti Bank (HU – MNB), Central Bank of Ireland (IE – CBI), Financial Supervisory Authority (IS – FME), Commissione Nazionale per le Società e la Borsa (IT – Consob), Commission de Surveillance du Secteur Financier (LU – CSSF), Malta Financial Services Authority (MT – MFSA), Autoriteit Financiële Markten (NL-AFM), Finanstilsynet (Finanstilsynet-NO), Komisja Nadzoru Finansowego (PL-KNF), Comissão do Mercado de Valores Mobiliários (PT – CMVM), Romanian Financial Supervisory Authority (RO – FSA), Finansinspektionen (SE- Finansinspektionen), Agencija za trg vrednostnih papirjev (SI-ATVP), National Bank Slovakia (NBS-SK), Financial Conduct Authority (UK- FCA).
Sklep Evropskega organa za vrednostne papirje in trge (EU) 2018/795 z dne 22. maja 2018 o začasni prepovedi trženja, razširjanja ali prodaje binarnih opcij malim vlagateljem v Uniji v skladu s členom 40 Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta (UL L 136, 1.6.2018, str. 31).
On 4 June 2018, a competent authority of an EEA EFTA State, NO-Finanstilsynet, adopted national product intervention measures that have the same terms and dates of application of ESMA's measures.
Sklep Evropskega organa za vrednostne papirje in trge (EU) 2018/1466 z dne 21. septembra 2018 o podaljšanju in spremembi Sklepa (EU) 2018/795 o začasni prepovedi trženja, razširjanja ali prodaje binarnih opcij malim vlagateljem (UL L 245, 1.10.2018, str. 17).
Furthermore, on 5 July 2018, the Financial Supervisory Authority of Iceland published that it considers the marketing, distribution or sale of binary options to be contrary to proper and sound business procedures and practices in securities trading according to its national law (Article 5 of Act No 108/2007 on Securities Transactions).
V raziskavi je sodelovalo 24 pristojnih nacionalnih organov: Financial Market Authority (AT – FMA), Cyprus Securities and Exchange Commission (CY – CySEC), Czech National Bank (CZ – CNB), Bundesanstalt für Finanzdienstleistungsaufsicht (DE – BaFiN), Finanstilsynet (DK – Finanstilsynet), Hellenic Capital Markets Commission (EL – HCMC), Comisión Nacional del Mercado de Valores (ES – CNMV), Finnish Financial Supervisory Authority (FI – FSA), Autorité des Marchés Financiers (FR – AMF), Magyar Nemzeti Bank (HU – MNB), Central Bank of Ireland (IE – CBI), Financial Supervisory Authority (IS – FME), Commissione Nazionale per le Società e la Borsa (IT – Consob), Commission de Surveillance du Secteur Financier (LU – CSSF), Malta Financial Services Authority (MT – MFSA), Autoriteit Financiële Markten (NL – AFM), Finanstilsynet (Finanstilsynet – NO), Komisja Nadzoru Finansowego (PL – KNF), Comissão do Mercado de Valores Mobiliários (PT – CMVM), Romanian Financial Supervisory Authority (RO – FSA), Finansinspektionen (SE – Finansinspektionen), Agencija za trg vrednostnih papirjev (SI – ATVP), National Bank Slovakia (NBS – SK), Financial Conduct Authority (UK – FCA).
Furthermore, on 6 July 2018 in Romania national law started to apply that has similar terms as ESMA's measures.
Pristojni nacionalni organ ene od držav EGP-Efta, NO-Finanstilsynet, je 4. junija 2018 sprejel nacionalne ukrepe za poseganje v zvezi s produkti, ki imajo iste pogoje in datume začetka uporabe kot ukrepi organa ESMA.
Council Regulation (EC) No 1234/2007 of 22 October 2007 establishing a common organisation of agricultural markets and on specific provisions for certain agricultural products (Single CMO Regulation) (OJ L 299, 16.11.2007, p. 1).
Poleg tega je finančni nadzorni organ Islandije 5. julija 2018 objavil, da je po njegovem mnenju trženje, razširjanje ali prodaja binarnih opcij v skladu z njegovo nacionalno zakonodajo (člen 5 zakona št. 108/2007 o poslovanju z vrednostnimi papirji) v nasprotju s pravilnimi in dobrimi poslovnimi postopki in praksami pri trgovanju z vrednostnimi papirji.