natgillin/translations-raw huggingface dataset:
Data provided in 2015 by: BG-FSC, CY-CySEC, CZ-CNB, FR-AMF, IE-CBI, IS-FME, LU-CSSF, MT-MFSA, NL-AFM, PT-CMVM, RO-ASF, UK-FCA; data provided in 2017 by: CY-CySEC, CZ-CNB, ES-CNMV, FR-AMF, IE-CBI, LU-CSSF, NL-AFM, MT-MFSA, NO-Finanstilsynet, SK-NBS, UK-FCA.
Poljska in Litva sta na primer opazili povečanje vrednosti transakcij, ki so jih opravili ponudniki binarnih opcij, medtem ko je Portugalska zabeležila povečanje števila podjetij, ki te storitve zagotavljajo.
Given the frequent cross-border dimension of the activity of product providers, this figure may include clients from non-EEA States.
Poleg tega sta dva pristojna nacionalna organa, ki pred tem v svojih jurisdikcijah nista opazila pravega trga s temi instrumenti za male vlagatelje, izrecno opozorila na povečanje trga na tem področju.
With particular regard to the UK, the number of CFD funded client accounts has risen from 657000 in 2011 to 1051000 at end-2016.
Poročilo IOSCO, stran 46.
However, these figures do not exclude dormant client accounts or multiple accounts used by the same retail client.
Prej člen 19(5) Direktive 2004/39/ES Evropskega parlamenta in Sveta z dne 21. aprila 2004 o trgih finančnih instrumentov in o spremembah direktiv Sveta 85/611/EGS, 93/6/EGS in Direktive 2000/12/ES Evropskega parlamenta in Sveta ter o razveljavitvi Direktive Sveta 93/22/EGS (UL L 145, 30.4.2004, str. 1).
The figures provided by the CY-CySEC have been compiled on the basis of accounts opened in CY-CySEC authorised providers offering these products.
To tveganje lahko poveča prekomerno zaupanje, ki ga je bilo mogoče v zadnjih vedenjskih študijah pogosto opaziti.
As far as the UK is concerned, this figure does not include non-UK clients of UK authorised firms which in 2016 was estimated at approximately 400000.
Oddelek 3 vprašanj in odgovorov organa ESMA v zvezi s ponujanjem CFD-jev in drugih špekulativnih produktov malim vlagateljem v skladu z direktivo MiFID (ESMA35-36-794), kakor je bila posodobljena 31. marca 2017.
Based on information provided by DE-BaFin in January 2017 covering 2016 data.
Prav tam.
See IOSCO report.
Kot sta ugotovila DE-BaFin in PL-KNF.
Although no overall statistics are available, a number of NCAs reported to ESMA that in 2016 the market grew in respect of the number of clients in their jurisdiction.
Na primer, UK-FCA in NO-Finanstilsynet.
For instance, Poland and Lithuania noted an increase in the value of transactions from binary option providers while Portugal noted a growth in the number of firms providing these services.
Oddelek 6 vprašanj in odgovorov organa ESMA v zvezi z zagotavljanjem CFD-jev in drugih špekulativnih produktov malim vlagateljem v skladu z direktivo MiFID (ESMA35-36-794), kakor je bila posodobljena dne 31. marca 2017, določa, da ni verjetno, da bi lahko podjetje, ki ponuja bonus, oblikovan tako, da male vlagatelje spodbudi k trgovanju s kompleksnimi špekulativnimi produkti, kot so CFD-ji, binarne opcije in valutno trgovanje forex, prikazalo, da ravna pošteno, pravično in profesionalno ter v najboljšem interesu malih vlagateljev.
In addition, two NCAs who had previously noted no real market for these instruments to retail clients in their jurisdiction specifically referred to a growing market in this area.
Kot je opisano v poročilu IOSCO, stran 32.
In Cyprus, 42 applications were received in 2016 compared to 16 in 2015 and 28 in 2014.
Na primer BE-FSMA, ES-CNMV, FR-AMF, IT-CONSOB.
In the UK, the FCA has received a total of 27 applications from firms seeking to be authorised to offer binary options to retail clients (20 of these applications were from firms seeking variation of authorisations, and 7 were from new authorisation applicants).
Oddelek 3 vprašanj in odgovorov organa ESMA v zvezi z zagotavljanjem CFD-jev, binarnih opcij in drugih špekulativnih izdelkov malim vlagateljem v skladu z direktivo MiFID (ESMA35-36-794), kakor je bila posodobljena 31. marca 2017, obravnava informacije, ki jih je treba podrobneje predložiti strankam in potencialnim strankam.
In this respect, it should be noted that binary options are within the UK-FCA's remit as of 3 January 2018.
Uredba (EU) št. 1286/2014 Evropskega parlamenta in Sveta z dne 26. novembra 2014 o dokumentih s ključnimi informacijami o paketnih naložbenih produktih za male vlagatelje in zavarovalnih naložbenih produktih (PRIIP) (UL L 352, 9.12.2014, str. 1).
Before then, they were regulated by the UK Gambling Commission.
Prej člen 19(2) in (3) Direktive 2004/39/ES.
IOSCO report page 46.
Prej člen 19(4) in (5) Direktive 2004/39/ES.
Previously Article 19(5) of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC (OJ L 145, 30.4.2004, p. 1).
Prej člen 21 Direktive 2004/39/ES.
This risk is possibly magnified by the overconfidence bias which has often been observed in recent behavioural studies.
Direktiva 2004/39/ES.
Section 3 of ESMA's Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA35-36-794), as updated on 31 March 2017.
Priloga IV k Direktivi 2014/65/EU navaja korelacijsko tabelo med zahtevami iz Direktive 2004/39/ES in Direktive 2014/65/EU ter Uredbe (EU) št. 600/2014.
For example, BE-FSMA, ES-CNMV, FR-AMF and IT-CONSOB.
Delegirana uredba Komisije (EU) 2017/653 z dne 8. marca 2017, ki dopolnjuje Uredbo (EU) št. 1286/2014 Evropskega parlamenta in Sveta o dokumentih s ključnimi informacijami o paketnih naložbenih produktih za male vlagatelje in zavarovalnih naložbenih produktih (PRIIP) z določitvijo regulativnih tehničnih standardov dokumentov glede prikaza, vsebine, pregleda in revizije dokumentov s ključnimi informacijami ter pogojev za izpolnitev zahteve po posredovanju takih dokumentov (UL L 100, 12.4.2017, str. 1).
IOSCO report, page 5.
IE-CBI je na primer izrazil zaskrbljenost glede meril za oceno znanja in izkušenj, potrebnih za oceno po tematskem pregledu (na voljo na: https://www.centralbank.ie/news/article/inspection-finds-75-percent-of-cfd-clients-lost-money).
Ibidem.
Poleg tega je UK-FCA opazil ponavljajoče se pomanjkljivosti pri ponudnikih glede primernosti njihovih ocen ustreznosti ter povezanih politik in postopkov (glej zgoraj).
As identified by DE-BaFin and PL-KNF.
Vprašanja in odgovori v zvezi z zagotavljanjem CFD-jev in drugih špekulativnih produktov malim vlagateljem v skladu z direktivo MiFID (ESMA35-36-794), kakor je bila posodobljena 31. marca 2017.
For example, the UK-FCA and NO-Finanstilsynet.
Mnenje o praksah direktive MiFID za podjetja, ki prodajajo kompleksne finančne produkte, z dne 7. februarja 2014 (ESMA/2014/146).
Section 6 of ESMA's Q&As relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA35-36-794), as updated on 31 March 2017, states that it is unlikely that a firm offering a bonus that is designed to incentivise retail clients to trade in complex speculative products such as CFDs, binary options and rolling spot forex could demonstrate that it is acting honestly, fairly and professionally and in the best interests of its retail clients.
Smernice organa ESMA o zahtevah glede upravljanja produktov MiFID II z dne 2. junija 2017 (ESMA35-43-620)
As described in the IOSCO report, page 32.
Ureditev organa za finančne storitve in trge FSMA v zvezi z distribucijo nekaterih izvedenih finančnih instrumentov strankam.
For example BE-FSMA, ES-CNMV, FR-AMF, IT-CONSOB.
Člen 72 zakona št. 2016-1691 z dne 9. decembra 2016 glede preglednosti, boja proti korupciji in modernizacije gospodarskega življenja.
Section 3 of ESMA's Q&As relating to the provision of CFDs, binary options and other speculative products to retail investors under MiFID (ESMA35-36-794), as updated on 31 March 2017, discusses the information that should be provided to clients and potential clients in more detail.
Nameravane ukrepe je ES-CNMV objavil v sporočilu Ukrepi za trženje CFD-jev in drugih špekulativnih produktov malim vlagateljem z dne 21. marca 2017.
Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (OJ L 352, 9.12.2014, p. 1).
Okrožnica HCMC št. 56/10.5.2017.
Previously Article 19(2) and (3) of Directive 2004/39/EC.
Na voljo na: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=ebf53e28-2bb7-4494-bb3a-4cced2e3c8ba.
Previously Article 19(4) and (5)of Directive 2004/39/EC.
Na voljo na: https://www.finanstilsynet.no/contentassets/455795d40fe4445f88a3b71b35079c94/horingsnotat---produktintervensjon.pdf.
Previously Article 21 of Directive 2004/39/EC.
Na primer UK-FCA, IT-CONSOB, ES-CNMV, BE-FSMA, FR-AMF, DE-BaFin, DK-Finanstilsynet, LU-CSSF, NL-AFM.
Directive 2004/39/EC.
Glej uvodno izjavo 34(vi).
Annex IV to Directive 2014/65/EU provides a correlation table between the requirements of Directive 2004/39/EC and the requirements of Directive 2014/65/EU and Regulation (EU) No 600/2014.
Skupno mnenje o „Postopkih nadzora in upravljanja produktov proizvajalcev“ (JC-2013-77).
Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents (OJ L 100, 12.4.2017, p. 1).
Mnenje o praksah direktive MiFID za podjetja, ki prodajajo kompleksne finančne produkte, z dne 7. februarja 2014 (ESMA/2014/146).
For example, IE-CBI expressed concerns on the criteria used to assess knowledge and experience for the purposes of the assessment following their themed inspection (available at: https://www.centralbank.ie/news/article/inspection-finds-75-percent-of-cfd-clients-lost-money).
To mnenje vključuje zlasti sklicevanja na CFD-je in binarne opcije.
Questions and Answers (Q&As) relating to the provision of CFDs and other speculative products to retail investors under MiFID (ESMA35-36-794) as updated on 31 March 2017.
„Pristojnosti ponudnikov in distributerjev za pošteno obravnavanje potrošnikov“.
Opinion on MIFID practices for firms selling complex financial products of 7 February 2014 (ESMA/2014/146).
Na voljo na: https://www.handbook.fca.org.uk/handbook/document/RPPD_FCA_20130401.pdf.
ESMA Guidelines on MiFID II product governance requirements of 2 June 2017 (ESMA35-43-620).
Smernice so povezane z Načeli za podjetja (PRIN) Združenega kraljestva.
Regulation of the Financial Services and Markets Authority governing the distribution of certain derivative financial instruments to the clients.
Na voljo na: https://www.handbook.fca.org.uk/handbook/document/rppd/RPPD_Full_20180103.pdf.
Article 72 de LOI no 2016-1691 du 9 décembre 2016 relative à la transparence, à la lutte contre la corruption et à la modernisation de la vie économique.
Organ ESMA je poudaril tveganje regulativne arbitraže v svojem mnenju o vplivu izključitve podjetij za upravljanje skladov iz področja pooblastil za poseganje MiFIR z dne 12. januarja 2017 (ESMA50-1215332076-23), v katerem je izrazil zaskrbljenost glede tveganja regulativne arbitraže in morebitnega zmanjšanja učinkovitosti prihodnjih intervencijskih ukrepov, ki izvirajo iz izključitve nekaterih subjektov iz področja ustreznih ukrepov (podjetja za upravljanje KNPVP in upravitelji alternativnih investicijskih skladov).
The intended measures were announced by ES-CNMV's communication Measures on the Marketing of CFDs and Other Speculative Products to Retail Investors, dated 21 March 2017.
Komisija je predlagala spremembe za povečanje pravne varnosti v zvezi s tem s spremembo Uredbe (EU) št. 600/2014 (COM(2017) 536/948972).
HCMC Circular No 56/10.5.2017.
Uredba Sveta (ES) št. 1234/2007 z dne 22. oktobra 2007 o vzpostavitvi skupne ureditve kmetijskih trgov in o posebnih določbah za nekatere kmetijske proizvode (Uredba o enotni SUT) (UL L 299, 16.11.2007, str. 1).
Available at: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=ebf53e28-2bb7-4494-bb3a-4cced2e3c8ba
Rok za predložitev dokazov je potekel 5. februarja 2018.
UK-FCA, ‘Consumer warning on the risks of investing in binary options,’ 14 November 2017.
Organ ESMA jih je prejel skoraj 18500.
Available at: https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-binary-options
„Predlog da/ne“ se pogosto nanaša na to, ali je cena osnovnega instrumenta ob izteku binarne opcije višja ali nižja od določene cene (tako imenovana „izvršilna cena“).
Available at: https://www.finanstilsynet.no/contentassets/455795d40fe4445f88a3b71b35079c94/horingsnotat---produktintervensjon.pdf
V nekaterih primerih „izvršilna cena“ ustreza tržni ceni osnovnega instrumenta ob vstopu v binarno opcijo ali ob določenem času v prihodnosti.
For example, UK-FCA, IT-CONSOB, ES-CNMV, BE-FSMA, FR-AMF, DE- BaFin, DK- Finanstilsynet, LU-CSSF, NL-AFM.
Komisija CY-CySEC je opravila analizo vzorca računov stranke binarne opcije pri desetih ponudnikih binarne opcije za obdobje od 1. januarja 2017 do 31. avgusta 2017.
See recital 34(vi).
Ugotovila je, da je v povprečju imelo v tem obdobju 87 % strank izgubo.
Joint Position on ‘Manufacturers' Product Oversight and Governance Processes’ (JC-2013-77).
Pristojni nacionalni organi so zaskrbljeni tudi glede kakovosti informacij, predloženih malim vlagateljem (na primer na spletnih straneh dobaviteljev), o tem, kako binarne opcije delujejo, in zlasti informacij o prisotnih tveganjih.
Opinion on MiFID practices for firms selling complex products of 7 February 2014 (ESMA/2014/146).
Nekateri primeri, ki niso združljivi z obveznostjo glede poštenih, jasnih in nezavajajočih informacij in pri katerih se uporabljajo tehnike za pridobitev pozornosti strank, ki ne odražajo nujno ustreznosti ali splošne kakovosti finančnega instrumenta ali prakse, so:
This opinion specifically included references to CFDs and binary options.
Da bi organ ESMA ocenil, kako in v kakšni meri pomenijo binarne opcije tveganje za zaščito vlagateljev, je analiziral distribucijo donosov vlagateljev.
Opinion on Structured Retail Products — Good practices for product governance arrangements of 27 March 2014 (ESMA/2014/332).
V analizi sta bili opredeljeni dve pomembni značilnosti.
‘The Responsibilities of Providers and Distributors for the Fair Treatment of Customers’.
Posebna pozornost je namenjena Združenemu kraljestvu, kjer se je število računov strank, financiranih s CFD-ji, povečalo s 657000 leta 2011 na 1051000 konec leta 2016.
Available at: https://www.handbook.fca.org.uk/handbook/document/RPPD_FCA_20130401.pdf.
Vendar pa te številke ne izključujejo spečih računov strank ali več računov, ki jih uporablja isti mali vlagatelj.
The guidance is linked to the UK's Principles for Businesses (PRIN).
Na Cipru je bilo leta 2016 prejetih 42 vlog v primerjavi s 16 prejetimi vlogi leta 2015 in 28 leta 2014.
Available at: https://www.handbook.fca.org.uk/handbook/document/rppd/RPPD_Full_20180103.pdf
V Združenem kraljestvu je Organ za finančno poslovanje prejel skupaj 27 vlog od podjetij, ki so želela pridobiti pooblastilo za ponujanje binarnih opcij malim vlagateljem (20 od teh vlog so poslala podjetja, ki so želela spremembo pooblastila, 7 pa so jih poslali novi vlagatelji zahteve za pooblastilo).
ESMA has emphasised the risk of regulatory arbitrage in its opinion on Impact of the exclusion of fund management companies from the scope of the MiFIR Intervention Powers of 12 January 2017 (ESMA50-1215332076-23), in which it has expressed concerns for the risk of regulatory arbitrage and the potential reduction in effectiveness of future intervention measures arising from the exclusion of certain entities from the scope of the relevant measures (UCITS management companies and Alternative investment fund managers).
S tem v zvezi je treba opozoriti, da binarne opcije spadajo v okvir pooblastila UK-FCA od 3. januarja 2018.
The Commission has proposed amendments to enhance legal certainty in this respect by amending Regulation (EU) No 600/2014 (COM(2017)536/948972).
Pred tem jih je zakonsko urejala Gambling Commission Združenega kraljestva.
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).
UK-FCA, „Opozorilo potrošnikom glede tveganj vlaganja v binarne opcije“ z dne 14. novembra 2017.
The call for evidence was closed on 5 February 2018.
Na voljo na:https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-binary-options.
European Securities and Markets Authority Decision (EU) 2018/796
Sklep Evropskega organa za vrednostne papirje in trge (EU) 2018/796
of 22 May 2018
z dne 22. maja 2018
to temporarily restrict contracts for differences in the Union in accordance with Article 40 of Regulation (EU) No 600/2014 of the European Parliament and of the Council
o začasni omejitvi trgovanja s pogodbami na razliko v Uniji v skladu s členom 40 Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta
Having regard to Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, and in particular Articles 9(5), 43(2) and 44(1) thereof,
ob upoštevanju Uredbe (EU) št. 1095/2010 Evropskega parlamenta in Sveta z dne 24. novembra 2010 o ustanovitvi Evropskega nadzornega organa (Evropski organ za vrednostne papirje in trge) in o spremembi Sklepa št. 716/2009/ES ter razveljavitvi Sklepa Komisije 2009/77/ES in zlasti člena 9(5), člena 43(2) ter člena 44(1) Uredbe,
Having regard to Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, and in particular Article 40 thereof,
ob upoštevanju Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta z dne 15. maja 2014 o trgih finančnih instrumentov in spremembi Uredbe (EU) št. 648/2012 ter zlasti člena 40 Uredbe,
Having regard to Commission Delegated Regulation (EU) 2017/567 of 18 May 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to definitions, transparency, portfolio compression and supervisory measures on product intervention and positions, and in particular Article 19 thereof,
ob upoštevanju Delegirane uredbe Komisije (EU) 2017/567 z dne 18. maja 2016 o dopolnitvi Uredbe (EU) št. 600/2014 Evropskega parlamenta in Sveta v zvezi z opredelitvijo pojmov, preglednostjo, stiskanjem portfelja ter nadzornimi ukrepi glede poseganja v zvezi s produkti in pozicij ter zlasti člena 19 Uredbe,
In recent years the European Securities and Markets Authority (ESMA) and several national competent authorities (NCAs) have observed a rapid increase in the marketing, distribution or sale of contracts for differences (CFDs) to retail clients across the Union.
V zadnjih letih so Evropski organ za vrednostne papirje in trge (ESMA) ter več pristojnih nacionalnih organov opazili hiter razmah trženja, distribucije ali prodaje pogodb na razliko (CFD-jev) malim vlagateljem v celotni Uniji.
CFDs are inherently risky and complex products and are often traded speculatively.
CFD-ji so sami po sebi tvegani in kompleksni produkti, njihova prodaja pa je pogosto špekulativna.
These concerns are also supported by the numerous complaints received from retail clients across the EU who have suffered significant detriment when trading CFDs.
Te skrbi podpirajo tudi številne pritožbe malih vlagateljev po celotni EU, ki so pri trgovanju s CFD-ji utrpeli precejšnjo škodo.
As of June 2015, ESMA has been coordinating the work of a Joint Group established to tackle issues related to a number of Cyprus-based providers offering CFDs, binary options and other speculative products to retail clients on a cross-border basis across the Union.
Od junija 2015 organ ESMA usklajuje delo združene skupine, ki je bila oblikovana za rešitev težav, povezanih s številnimi ponudniki s sedežem na Cipru, ki malim vlagateljem po celotni Evropski uniji ponujajo CFD-je, binarne opcije in druge špekulativne produkte.
Furthermore, since July 2015, ESMA has been coordinating a task force composed of ESMA and NCAs whose work aims at monitoring the offer of CFDs and binary options to the retail mass market as well as to foster uniform supervisory approaches in this area across the Union.
Poleg tega od julija 2015 usklajuje projektno skupino, sestavljeno iz predstavnika organa ESMA in pristojnih nacionalnih organov, katere delo je usmerjeno v spremljanje ponudbe CFD-jev in binarnih opcij na množičnem maloprodajnem trgu in spodbujanje enotnih nadzornih pristopov na tem področju po celotni Uniji.
ESMA has also promoted supervisory convergence in the Union in respect of the offer of CFDs to retail clients through the issuance of an opinion as well as a number of Questions and Answers (Q&As) pursuant to Article 29 of Regulation (EU) No 1095/2010.
Organ ESMA spodbuja tudi nadzorniško konvergenco v Uniji v zvezi s ponujanjem CFD-jev malim vlagateljem na podlagi izdaje mnenja in priprave številnih odgovorov na pogosto zastavljena vprašanja v skladu s členom 29 Uredbe (EU) št. 1095/2010.
Finally, ESMA has published warnings in which it highlighted its concerns in respect of the risks posed by the uncontrolled offer of inter alia CFDs and binary options to retail clients.
Organ ESMA je nenazadnje objavil tudi opozorila, v katerih je izrazil zaskrbljenost glede tveganj, ki jih predstavlja nenadzorovana ponudba CFD-jev in binarnih opcij malim vlagateljem.
Although these actions had some positive effects, ESMA considers that the significant investor protection concerns persist.
Čeprav so imeli vsi navedeni ukrepi pozitiven učinek, organ ESMA meni, da še vedno obstajajo resni zadržki glede zaščite vlagateljev.
On 18 January 2018, ESMA launched a call for evidence on its potential product intervention measures on the marketing, distribution or sale of CFDs and binary options to retail clients (the ‘call for evidence’).
Organ ESMA je 18. januarja 2018 objavil poziv k predložitvi dokazov v zvezi z možnimi ukrepi za poseganje na trg produktov glede trženja, distribucije ali prodaje CFD-jev in binarnih opcij malim vlagateljem (poziv k predložitvi dokazov).
Among those responses, 82 were from providers, trade organisations, stock exchanges and brokers involved in the CFD and/or binary option business, 10 were from consumer representatives and the remaining responses came from individuals.
Organ ESMA je takšne skrbi v celoti upošteval.
A vast majority of the responses from individuals were facilitated and channelled via CFD and/or binary option providers.
Vendar po njihovi primerjavi z opredeljenim resnim zadržkom glede zaščite vlagateljev, ki je bil dodatno potrjen z odgovori, prejetimi od predstavnikov potrošnikov in posameznikov v podporo predlaganim ukrepov, v katerih so ti pozivali k strožjim ukrepom, organ ESMA meni, da je treba začasno omejiti trženje, razširjanje ali prodajo CFD-jev malim vlagateljem v skladu s členom 40 Uredbe (EU) št. 600/2014.
The call for evidence disclosed a general concern from the first category of respondents and, in particular product providers, as to the decrease of revenues which the proposed measures may cause as well as the costs related to their implementation.
Ukrep, sprejet na podlagi člena 40 Uredbe (EU) št. 600/2014, je treba pregledati v ustreznih časovnih presledkih, najmanj pa vsake tri mesece.
Furthermore, concerns were also expressed by a large number of individual respondents mainly about proposed leverage limits being too low.
Pri pregledovanju tega ukrepa bo organ ESMA rešil vse dvoumne prakse, do katerih bi lahko prišlo.
ESMA has duly considered such concerns.
Če se ukrep po treh mesecih ne podaljša, preneha veljati.