natgillin/translations-raw huggingface dataset:
Še posebej se strinja s pojasnitvijo pragov, možnostjo izbire domače države članice v primeru nelastniških vrednostnih papirjev, poenostavitvijo režima delniških shem za zaposlene, poenostavitvijo pretiranih zahtev po razkritju za državna jamstva, uskladitvijo z direktivo o preglednosti ter z odstranitvijo negotovosti v zvezi s priglasitvijo v državi članici gostiteljici.
Notably he agrees with the clarification of thresholds , the possibility to choose the home Member State in the case of non-equity securities, the simplification of the regime for employee share schemes , the simplification of over-burdensome disclosure requirement for government guarantees , the alignment with the transparency directive and the removal of uncertainty regarding the host Member State notification .
Poročevalec ima nekaj pripomb k spodnjim točkam in predlaga, da se sedanji osnutek Komisije izboljša.
On the following points, your rapporteur has some remarks and suggests improving the current Commission drafting
Preprodajna veriga
Retails cascade
Pojasniti je treba odgovornost v primeru nadaljnje preprodaje vrednostnih papirjev.
The liability in the case of a subsequent resale of a security needs to be clarified.
Komisija glede nadaljnje preprodaje vrednostnih papirjev prek finančnih posrednikov predlaga, da je dovoljena uporaba prvotnega prospekta, če je ta ažuriran in je izdajatelj privolil v njegovo uporabo.
For the subsequent resale of securities via financial intermediaries the Commission proposes that the initial prospectus may be used as long as it is up to date and the issuer has consented to its use.
Poročevalec prav tako meni, da mora biti v primeru, če finančni posrednik uporabi prvotni prospekt brez privolitve ali če oblikuje nov prospekt, za ta prospekt odgovoren posrednik.
Your rapporteur is furthermore of the opinion that in case a financial intermediary uses the initial prospectus without consent or if he has drawn up a new prospectus, the intermediary should be liable for the prospectus.
Uskladitev pojma poučeni vlagatelj
Alignment of qualified investor
Poročevalec se strinja s predlogom Komisije, da se direktiva o prospektu uskladi z opredelitvijo v direktivi o trgih finančnih instrumentov, a predlaga, da se naredi še korak naprej in izbriše ločena evidenca, saj se je v praksi izkazala za malo koristno.
Your rapporteur agrees with the Commission proposal to align the prospectus directive with the definition in the Markets in Financial Instruments Directive (MiFID) , but he suggests to go further and to delete the separate register as it has shown very little value in practice.
Izdaja delniških pravic
Rights issue
Komisija uvaja poenostavljene zahteve za objavo izdaj delniških pravic.
The Commission introduces simplified publication requirements for rights issues.
Poročevalec meni, da bi bilo treba iz obveze za objavo prospekta povsem izvzeti izdaje delniških pravic, saj so informacije na voljo obstoječim delničarjem.
Your rapporteur is of the opinion that we should fully exempt rights issues from the obligation to publish a prospectus as information is available to already existing shareholders.
Veljavnost prospekta
Validity of prospectus
Obdobje veljavnosti prospektov in osnovnih prospektov je podaljšano na 24 mesecev.
The validity period is extended to 24 months both for prospectuses and base prospectuses.
Poročevalec želi podaljšati veljavnost osnovnih prospektov na 36 mesecev.
Your rapporteur wants to increase the validity for base prospectuses to 36 months.
Dopolnjevanje prospekta
Supplement the prospectus
Obveza glede ažuriranja prospekta se konča bodisi z zaključkom javne ponudbe ali s sprejemom v trgovanje na organiziranem trgu, kar od tega je prej.
The obligation to keep the prospectus up to date ends either with the closing of the public offer or the admission to trading on a regulated market, whichever occurs earlier.
Pravica do umika v primeru dopolnitve prospekta je usklajena na obdobje dveh delovnih dni, izdajatelj pa ima možnost to obdobje podaljšati.
Furthermore, the right of withdrawal in the case of a supplement to the prospectus is harmonised to two working days with the possibility for the issuer to extend this period.
Poročevalec se strinja s predlogom Komisije, vendar je uvedel dodatno pojasnilo, da je mogoče v primeru, če se javna ponudba dokončno zaključi, preden so isti vrednostni papirji sprejeti v trgovanje na organiziranem trgu, uporabiti obstoječi prospekt.
Your rapporteur agrees with the Commission proposal but he introduces a further clarification that the existing prospectus may be used in the case of the final offer to the public closing before the same security is admitted to trading on a regulated market.
Režimi civilnopravne odgovornosti
Civil liability regimes
Poročevalec poziva novi evropski nadzorni organ, naj pripravi primerjalno tabelo, v kateri bodo prikazane razlike med nacionalnimi režimi odgovornosti.
Your rapporteur asks the new European Supervisory Authority to compile a comparative table exhibiting the differences in national liability regimes.
Pri razgovorih o odgovornosti niso upoštevane dejanske razlike v nacionalnem pravu, ki imajo bistven vpliv.
As we discuss liability, the real life differences in national civil law that have an essential impact are disregarded.
Primerjava primarnih in sekundarnih trgov
Primary versus Secondary markets
Poročevalec meni, da se je treba nujno posvetiti pereči težavi opredelitve primarnih in sekundarnih trgov.
Your rapporteur is of the opinion that the underlying problem of a definition of primary and secondary markets needs to urgently be addressed.
V ta namen je vpeljal klavzulo o pregledu, ki vključuje dodatno delo na področju opredelitve primarnih trgov, sekundarnih trgov in izraza javna ponudba, da bo mogoče bolje utemeljiti nerešeno težavo in poiskati rešitve za nejasnosti.
For this purpose, he has introduced a review clause that includes further work on defining primary markets, secondary markets and the term public offer in order to account better for unsolved problem and to find solutions to this lack of clarity.
Dokument s ključnimi podatki za vlagatelje
Key investor document
Zasnova, ki jo je vpeljala Komisija s pobudo paketnih naložbenih produktov za male vlagatelje
The concept introduced by the Commission in the Packaged Retail Investment Products (PRIPs)
Sporočilo Komisije z dne 29. aprila 2009. , s katero se malim vlagateljem zagotovijo ključne informacije o vseh naložbenih produktih zanje in ki je bila vsebovana v dokumentih s ključnimi podatki v direktivi KNPVP, je pomembna zamisel.
Commission Communication from 29 April 2009 initiative on providing key information to retail investors for all retail investment products, which was introduced in the Key information document (KID) in the UCITs Directive
Komisija je v tej direktivi povečala zahteve za povzetek prospekta.
The Commission introduces increased requirements to the prospect summary in this Directive.
V povzetku so ključne informacije, s pomočjo katerih lahko vlagatelji primerjajo vrednostne papirje z drugimi produkti in dobro obveščeni sprejmejo odločitev glede naložbe.
The summary is to give key information in order to allow the investor to compare the security with other products and make an informed investment decision.
Komisija je prav tako razširila režim odgovornosti na zagotavljanje tovrstnih ključnih informacij.
The Commission also extends the liability regime to the provision of such key information.
Poročevalec meni, da bi bilo namesto vpeljave nekaterih elementov s ključnimi informacijami v povzetek bolj smiselno povzetek zamenjati z dokumentom s ključnimi podatki.
Your rapporteur is of the opinion that instead of introducing some key information elements in the summary, the summary should be replaced by a key information document.
Podrobna vsebina in oblika bosta sicer določeni na drugi ravni, vendar morata v veliki meri vključevati informacije iz sedanje sklepne beležke.
The detailed content and format shall be determined at level two, but shall incorporate to a large part the information in the current summary note.
Nasveti Evropskega organa za vrednostne papirje in trge v zvezi z ukrepi na drugi ravni bi morali dosledno upoštevati razvoj razprave o paketnih naložbenih produktih za male vlagatelje.
Advice by the new European Securities and Markets Authority on the level two measures should duly consider the developments in the PRIPs debate.
Zasnovo primerljivosti naložbenih produktov je najbolje obravnavati kot horizontalni ukrep v okviru pobude paketnih naložbenih produktov za male vlagatelje, vendar se je treba temu posvetiti pravočasno.
The concept of comparability across investment products is best dealt with during the course of the PRIPs initiative as a horizontal measure and this should hence be addressed in such a manner in due course.
Delegirani in izvedbeni akti
Delegating and Implementing Acts
Z začetkom veljave Lizbonske pogodbe se je odprla tudi možnost, da zakonodajalec Komisiji dodeli pooblastilo za sprejemanje nezakonodajnih aktov, z namenom dopolnitve ali spremembe nekaterih nebistvenih elementov zakonodajnih aktov.
Due to the Lisbon Treaty coming into force, the possibility for the legislator to delegate the power to adopt non-legislative acts to the Commission to supplement or amend certain non-essential elements of the legislative acts is introduced.
Vendar pa bo člen 291 lahko začel veljati šele po sprejetju uredbe, zato bo za določbe v zvezi z izvedbenimi akti še vedno veljal postopek komitologije, uskladitev pa je preložena na poznejši pregled direktiv.
However Article 291 will require the adoption of a Regulation to enter into force.
Evropski organ za vrednostne papirje in trge
Consequently, the provisions concerned with the implementing acts will remain in comitology and the alignment is postponed to a further revision of the directives.
o predlogu Direktive Evropskega parlamenta in Sveta o spremembah direktiv 2003/71/ES o prospektu, ki se objavi ob javni ponudbi ali sprejemu vrednostnih papirjev v trgovanje in 2004/109/ES o uskladitvi zahtev v zvezi s preglednostjo informacij o izdajateljih, katerih vrednostni papirji so sprejeti v trgovanje na reguliranem trgu
on the proposal for a European Parliament and Council directive amending Directives 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market
OZADJE PREDLOGA
BACKGROUND TO THE PROPOSAL
Glavni namen akcijskega programa za zmanjšanje upravnih obremenitev sedanje pravne ureditve v Evropski uniji, ki ga je Komisija začela izvajati januarja 2007, je bil zagotoviti boljšo pravno ureditev kot del strategije za rast in delovna mesta.
The main aim of the Action Programme to reduce administrative burdens of existing regulation in the European Union, launched in 2007 by the Commission, was to provide better regulation as part of the 'Growth and Jobs' strategy.
Poleg tega je Svet leta 2007 sprejel cilj, naj se upravne obremenitve do leta 2012 zmanjšajo za 25 %, da bi se povečala konkurenčnost podjetij v Skupnosti.
Furthermore, in 2007 the Council adopted a target to reduce administrative burdens by 25 % by 2012 in order to enhance the competitiveness of various companies in the Community.
Da bi izboljšali varstvo vlagateljev in se učinkovito odzvali na sedanjo finančno krizo, bi bilo treba poenostaviti izvleček prospekta.
Taking into account the need to improve investor protection, the summary of the prospectus should be simplified in order to respond effectively to the current financial crisis.
Upoštevane so tudi ugotovitve iz študije, ki jo je izvedel Center za strategije in ocenjevanje ter javno spletno posvetovanje.
It also takes into consideration the findings of a study conducted by the Centre for Strategy & Evaluation Services and of a public online consultation.
Splošni namen predloga je poenostaviti in izboljšati uporabo direktive, povečati njeno učinkovitost, pri tem pa upoštevati pomen boljše ravni varstva vlagateljev, ki je predvidena v direktivi, in zagotoviti, da bodo dane informacije ustrezne in zadostne za izpolnitev potreb vlagateljev, da se bodo lahko spoprijeli s pretresi na finančnih trgih.
The overall aim of this proposal is to simplify and improve the implementation of the directive, given the importance of improving the level of investor protection provided for in the directive and ensuring that the information given is adequate and sufficient to meet the needs of investors to cope with turbulence on the financial markets.
Pričakuje in načrtuje se, da bi poenostavitev obenem prinesla tudi znatne koristi:
It is expected and intended that this simplification should also implicitly result in significant benefits such as:
– zaradi zmanjšanja zahtev po razkritju za družbe z manjšo tržno kapitalizacijo, bo skupni prihranek vsaki dve leti 173 milijonov EUR;
– reducing the disclosure requirements for companies with reduced market capitalisation, which will generate overall savings of €173 million every two years;
– zaradi ukinitve pravil, ki podvajajo obveznosti glede preglednosti, bodo za družbe odpravljeni nepotrebni stroški v višini 30 milijonov EUR;
– abolishing the rules which entail double transparency obligations, thereby eliminating unnecessary costs to companies to the tune of €30 million;
– zaradi oprostitve delniških shem za zaposlene od obveznosti objave prospekta se bo prihranilo več kot 18 milijonov EUR;
– exempting Employee Shares Schemes from the obligation to publish the prospectus, which will save some €18 million;
– zaradi zmanjšanja zahtev po razkritju za zbiranje kapitala prek izdaj delniških pravic bo prihranjenih skoraj 80 milijonov EUR;
– reducing disclosure requirements for raising capital through rights issues, which will save almost €80 million;
– poleg tega bo zaradi izvzetja podrobnih informacij o finančnem stanju garanta v primeru vladnih jamstvenih shem prihranjenih okoli 800.000 EUR.
– in addition to all these figures, some €800 000 will be saved by excluding detailed information on the financial situation of the guarantor in case of government guarantee schemes.
Skupni prihranek je bil ocenjen na 302 milijonov EUR letno.
All these savings have been estimated at €302 million per year.
Septembra 2008 je skupina visokih predstavnikov neodvisnih zainteresiranih strani za upravne obremenitve svetovala Evropski komisiji, naj ukine:
In September 2008, the High Level Group of Independent Stakeholders on Administrative Burdens advised the European Commission to consider abolishing:
1. obveznost, da se zagotovi papirna kopija prospekta in
1. the obligation to deliver a paper copy of the prospectus;
2. obveznost, da se pri čezmejnih ponudbah zagotovi prevod izvlečka.
2. the obligation to provide the translation of the summary in case of cross-border offers.
Odprava prve obveznosti bi negativno vplivala na zaupanje potrošnikov, ker bi ustvarjala diskriminacijo med vlagatelji glede na to, ali imajo dostop do interneta ali ne, čeprav bi se zmanjšala upravna obremenitev za subjekt, ki je vlagatelju dolžan predložiti prospekt.
The abolition of the first obligation would have a negative impact on consumer confidence because it would create discrimination between investors depending on whether they have internet access or not, although it would reduce the administrative burden for the person obliged to hand the prospectus to the investor.
Čeprav bi ukinitev obveznosti za prevod prospekta odpravila stroške prevajanja, bi škodovala varstvu vlagateljev, saj je bistveno, da je vsaj izvleček prospekta v jeziku, ki ga vlagatelji razumejo.
With regard to the abolition of the obligation to translate the summary of the prospectus, even though this would save on translation costs, this too would be detrimental for investor protection because it is vital that investors receive at least the summary of the prospectus in a language they can understand.
Predlog temelji na členih 44 in 95 Pogodbe ES (zdaj člena 50 in 114 PDEU).
The proposal is based on Articles 44 and 95 of the EC Treaty (currently Articles 50 and 114 of the TFEU).
Skladen je z načeloma subsidiarnosti in sorazmernosti, kakor je določeno v členu 5 PDEU.
The proposal complies with the principles of subsidiarity and proportionality, as set out in Article 5 of the TFEU.
Osebno stališče pripravljavca mnenja je, da zadeva politika spreminjanja teh direktiv izredno pomembno tematiko prospektov in preglednosti; pripombe o manj pomembnih vprašanjih zato niso skladne z namenom predloga.
As a personal observation, I would say that the amendment policy concerns issues of great importance with regard to prospectuses and transparency; any comments on matters of minor importance are therefore not consistent with the aim of the proposal.
V predlog Komisije bi lahko vnesli več predlogov sprememb, s katerimi bi spremenili Direktivo 2003/71/ES o prospektu in odpravili nekaj manjših pomanjkljivosti.
Several amendments might be made to the Commission proposal to amend Directive 71/2003/EC concerning the prospectus, to eliminate some minor flaws.
K Direktivi 2004/119/ES o preglednosti se zaenkrat še ne zahtevajo pripombe ali spremembe.
As regards Directive 109/2004/EC concerning transparency, no comments or amendments are as yet required.
2 Vlagatelji, ki so se sporazumeli, da kupijo ali vpišejo vrednostne papirje pred objavo dodatka, imajo pravico, ki jo lahko uresničijo v dveh delovnih dneh po objavi dodatka, umakniti sprejetje.
Investors who have already agreed to purchase or subscribe for the securities before the supplement is published shall have the right, exercisable within two working days after the publication of the supplement, to withdraw their acceptances.
Ta rok lahko podaljša izdajatelj, ponudnik ali oseba, ki prosi za sprejem v trgovanje na organiziranem trgu.
This period may be extended by the issuer, the offeror or the person asking for the admission to trading on a regulated market.
Ta rok lahko podaljša izdajatelj, ponudnik ali oseba, ki prosi za sprejem v trgovanje na organiziranem trgu , vendar ne sme biti daljši kot 10 delovnih dni po datumu izdaje dodatka.
This period may be extended by the issuer, the offeror or the person asking for the admission to trading on a regulated market , but shall not exceed 10 working days from the date of publication of the supplement .
o sporočilu Komisije: Akcijski načrt o darovanju in presajanju organov (2009–2015): krepitev sodelovanja med državami članicami
on the Commission Communication: Action plan on Organ Donation and Transplantation (2009-2015): Strengthened Cooperation between Member States
Poročevalec: Andres Perello Rodriguez
Rapporteur: Andres Perello Rodriguez
o sporočilu Komisije: Akcijski načrt o darovanju in presajanju organov (2009–2015): krepitev sodelovanja med državami članicami
on the Commission communication: Action plan on Organ Donation and Transplantation (2009-2015): Strengthened Cooperation between Member States
– ob upoštevanju člena 184 Pogodbe o delovanju Evropske unije,
– having regard to Article 184 of the Treaty on the Functioning of the European Union,
– ob upoštevanju Listine Evropske unije o temeljnih pravicah,
– having regard to the Charter on Fundamental Rights of the European Union,
– ob upoštevanju predloga direktive Evropskega parlamenta in Sveta o standardih kakovosti in varnosti človeških organov, namenjenih za presaditev ( KOM(2008)0818 ),
– having regard to the Proposal for a Directive of the European Parliament and of the Council on standards of quality and safety of human organs intended for transplantation ( COM(2008)0818 ),
– ob upoštevanju sporočila Komisije z naslovom Akcijski načrt o darovanju in presajanju organov (2009–2015): krepitev sodelovanja med državami članicami ( KOM(2008)0819 ),
– having regard to the Commission Communication entitled ‘Action plan on Organ Donation and Transplantation (2009-2015): Strengthened Cooperation between Member States’ ( COM(2008)0819 ),
– ob upoštevanju Direktive 2004/23/ES Evropskega parlamenta in Sveta o določitvi standardov kakovosti in varnosti, darovanja, pridobivanja, testiranja, predelave, konzerviranja, shranjevanja in razdeljevanja človeških tkiv in celic
– having regard to Directive 2004/23/EC of the European Parliament and of the Council on setting standards of quality and safety for the donation, procurement, testing, processing, preservation, storage and distribution of human tissues and cells
UL L 102, 7.4.2004, str.
OJ L 102, 7.4.2004, p.48. ,
– ob upoštevanju Konvencije Sveta Evrope o človekovih pravicah v zvezi z biomedicino in njenega dodatnega protokola o presaditvi človeških organov in tkiv,
– having regard to the Council of Europe Convention on Human Rights and Biomedicine, and its Additional Protocol concerning Transplantation of Organs and Tissues of Human Origin,
– ob upoštevanju konference o varnosti in kakovosti darovanja ter presajanja organov v Evropski uniji v Benetkah 17. in 18. septembra 2003,
– having regard to the Conference on Safety and Quality in Organ Donation and Transplantation in the European Union held in Venice on 17-18 September 2003,
– ob upoštevanju poročila Odbora za okolje, javno zdravje in varnost hrane in mnenja Odbora za pravne zadeve ( A7–0103/2010 ),
– having regard to the report of the Committee on the Environment, Public Health and Food Safety and the opinion of the Committee on Legal Affairs ( A7‑0103/2010 ),
A. ker sedaj 56.000 bolnikov v EU čaka na ustreznega darovalca, po ocenah pa med čakanjem na presaditev solidnega organa dnevno umre 12 ljudi,
A. whereas there are currently 56 000 patients waiting for a suitable organ donor in the EU, and it is estimated that every day 12 people die while waiting for a solid organ transplant,
B. ker potrebe bolnikov po presajanju organov v Evropi niso izpolnjene zaradi omejenega števila razpoložljivih organov tako umrlih kot nesebičnih živih darovalcev,
B. whereas the needs of patients for transplantation in Europe are not being met owing to the limited number of organs available from both deceased and altruistic living donors,
C. ker obstajajo velike razlike med državami članicami glede deleža organov, pridobljenih od umrlih darovalcev: od 34,2 darovalca na milijon prebivalcev v Španiji do 1,1 darovalca na milijon prebivalcev v Bolgariji, pomanjkanje organov pa je glavni dejavnik, ki vpliva na programe presajanja organov,
C. whereas there are wide variations between Member States in deceased organ donation rates, ranging from 34.2 donors per million population (pmp) in Spain to 1.1 pmp in Bulgaria, and the shortage of organs is a major factor affecting transplantation programmes,
D. ker se nacionalne politike in regulativni okvirji za darovanje in presajanje organov med državami članicami bistveno razlikujejo v skladu z različnimi pravnimi, kulturnimi, upravnimi in organizacijskimi dejavniki,
D. whereas national policies and the regulatory framework for donations and transplantation vary substantially between Member States according to different legal, cultural, administrative and organisational factors,
E. ker sta darovanje in presajanje organov občutljivi in zapleteni vprašanji s pomembno etično razsežnostjo, pri razvoju katere mora sodelovati celotna družba, udeležene pa morajo biti vse zainteresirane strani,
E. whereas organ donation and transplantation are sensitive and complex issues, with an important ethical dimension, which require the full participation of society for their development and the involvement of all relevant stakeholders,
F. ker se s presajanjem organov omogoča reševanje življenj, boljša kakovost življenja ter (v primeru presaditve ledvice) boljše razmerje med stroški in koristmi kot druge oblike nadomestnega zdravljenja, hkrati pa se bolnikom zagotavljajo boljše možnosti za udeležbo v socialnem in delovnem življenju,
F. whereas organ transplantation provides the possibility of saving lives, offers a better quality of life and (in the case of kidney transplantation) has the best cost/benefit ratio when compared with other replacement therapies as well as increasing the possibilities for patients to participate in social and working life,