natgillin/translations-raw huggingface dataset:
– ob upoštevanju poročila Odbora evropskih regulativnih organov (CESR) s področja vrednostnih papirjev o „nadzornih orodjih za trge vrednostnih papirjev v EU“ (poročilo „Himalaja“), ki je bilo objavljeno 25. oktobra 2004,
– having regard to the Committee of European Securities Regulators (CESR) report on "which supervisory tools for the EU securities markets", (Himalaya Report), published on 25 October 2004,
– ob upoštevanju resolucij z dne 15. januarja 2004 o prihodnosti hedge skladov in o izvedenih finančnih instrumentih
– having regard to its resolutions of 15 January 2004 on the future of hedge funds and derivatives
204. , 28. aprila 2005 o trenutnem stanju povezovanja finančnih trgov EU
204. , of 28 April 2005 on the current state of integration of EU financial markets
140. in z dne 4. julija 2006 o konsolidaciji na področju industrije finančnih storitev
140. , and of 4 July 2006 on consolidation in the financial services industry
Sprejeta besedila , P6_TA(2006)0294 . ,
Texts Adopted , P6_TA(2006)0294 . ,
– ob upoštevanju poročila Odbora za ekonomske in monetarne zadeve in mnenja Odbora za pravne zadeve ( A6-0248/2007 ),
– having regard to the report of the Committee on Economic and Monetary Affairs and the opinion of the Committee on Legal Affairs ( A6‑0248/2007 ),
1. čestita Komisiji za prispevek akcijskega načrta za finančne storitve (FSAP) k oblikovanju evropskega kapitalskega trga, ki je vodilni v svetu zlasti zaradi kakovosti in stabilnosti finančne ureditve; pozdravlja gospodarske prednostne naloge, ki jih vsebuje bela knjiga Komisije, in sicer: utrditev evropskega finančnega trga, odstranjevanje ovir prostega pretoka kapitala, izboljšanje nadzora nad finančnimi storitvami;
1. c ongratulates the Commission on the contribution of the FSAP towards the creation of a European capital market that is leading in the world not least because of the quality and solidity of its financial regulation; welcomes the economic priorities set out in the Commission White Paper, namely to consolidate the European financial market, remove barriers to the free movement of capital and improve the supervision of financial services;
3. je zaskrbljen, ker je stopnja prenosa zakonodaje Skupnosti v državah članicah v določenem roku še vedno nizka, in poziva k večjemu sodelovanju med nadzorniki in državami članicami;
Is concerned that the rate of transposition of Community law by the Member States within the prescribed deadline is still low and calls for increased cooperation between supervisory bodies in the Member States;
5. želi pozdraviti poglobljeno raziskavo o ekonomskih učinkih ukrepov FSAP v smislu lizbonske strategije in potreb po financiranju v dejanskem gospodarstvu; poziva Komisijo, da takšne študije naroča skupaj s svojimi letnimi poročili o napredku in spremljanjem izvajanja ter priporoča, da se posveti posebno pozornost vplivu izvajanja ukrepov FSAP s posebnim ozirom na države, ki koristijo izvajanje FSAP in obsegu dobička, ki ga države prejemnice dobijo iz konsolidacije finančnega trga;
5. w ould welcome a more in-depth examination of the economic effects of the FSAP measures in the light of the Lisbon Strategy and the financing needs of the real economy; asks the Commission to commission such studies together with its annual progress reports and implementation monitors and recommends that special attention be given to the effects of the implementation of the FSAP measures with special reference to the countries benefiting from the FSAP implementation and the magnitude of beneficiary countries' profits earned from the consolidation of the financial market;
Koncentracija na trgu
Market concentration
6. ugotavlja veliko konsolidacijo trga na vrhu trga finančnih storitev za velike javne družbe, in sicer s strani revizijskih podjetij, bonitetnih agencij in investicijskih bank; poziva Komisijo in pristojne nacionalne organe, naj za te akterje pravila Skupnosti o konkurenci uporabljajo previdno, naj pri opravljanju finančnih storitev za velike javne družbe spremljajo vsako nevarnost nezakonite koncentracije na trgu; poudarja potrebo po dostopnem pritožbenem postopku in postopku sodnega varstva; in poziva Komisijo, naj upošteva vidik uporabnika; poudarja potrebo po odpravi tržnih ovir za nove udeležence in tudi potrebo po odpravi zakonodaje, ki daje prednost prvotnim udeležencem in sedanjim tržnim strukturam, kjer je konkurenca omejena;
6. n otes a high market consolidation in the top segment of financial services provided to large listed companies, notably by audit firms, credit rating agencies (CRAs) and investment banks; urges the Commission and national competition authorities carefully to apply the Community competition rules to those market players, to be vigilant to any risk of unlawful market concentration in the provision of services to large listed companies; emphasises the need for accessible complaint and redress procedures; and asks the Commission to take due account of the users’ perspective; underlines the need to remove barriers for new entrants as well as the need to remove legislation favouring incumbents and current market structures where competition is limited;
COD 2006/0166. ter poziva Komisijo, naj nadaljuje svojo dejavnost za odpravljanja ovir za čezmejno združitev in prevzemov, kot je opredeljeno v delovnem dokumentu Komisije o čezmejni konsolidaciji finančnega sektorja EU ( SEC(2005)1398 ) in resoluciji Parlamenta z dne 4. julija 2006 o nadaljnji konsolidaciji na področju industrije finančnih storitev
COD 2006/0166. and urges the Commission to continue its action towards the removal of the obstacles to cross-border mergers and acquisition, as identified in the Commission Staff Working Document on Cross-border consolidation in the EU financial sector ( SEC(2005)1398 ) and Parliament's resolution of 4 July 2006 on further consolidation in the financial services industry
Sprejeta besedila , P6_TA(2006)0294 . ter spodbuja širšo uporabo sodobnih programskih rešitev in s tem spodbujanje neposrednega dostopa končnega vlagatelja do trga in brez posrednika;
Texts Adopted , P6_TA(2006)0294 . and encourages the wider use of modern software solutions, thereby promoting disintermediated and direct market access by the end investor;
9. pričakuje po izvajanju Direktive 2004/39/ES
Following the implementation of Directive 2004/39/EC
1. o trgih finančnih instrumentov (MiFID) večjo konkurenco med platformami za trgovanje in finančnimi posredniki, vendar tudi večje združevanje velikih borz; meni, da je potrebno okrepljeno čezatlantsko zbliževanje pravil finančnega trga in nadzornih praks brez ogrožanja pristopa, ki temelji na načelih, in izogibanje določanju eksteritorialnih pravil; poudarja, da je dobro upravljanje bistvenega pomena in spreminjanje lastništva ne sme ogrožati vpliva uporabnikov;
1. on markets in financial instruments (MiFID), anticipates increased competition among trading platforms and financial intermediaries, but also increased consolidation of the stock exchanges; believes that stronger cross-Atlantic convergence of financial market rules and supervisory practices is needed without undermining the principles-based approach and avoiding the imposition of extraterritorial rules; emphasises that good governance is imperative and that the influence of users should not be eroded with changing ownership;
11. ponovno poudarja potrebo po izboljšanju storitev po trgovanju ob upoštevanju preglednosti cen in konkurence ter javnega interesa pri obračunu in poravnavi vrednostnih papirjev, medtem ko poziva k napredku pri odpravljanju drugih ovir iz poročila Giovanninijeve skupine o čezmejnem obračunu in poravnavi v Evropski uniji z novembra 2001; pozdravlja napredek, dosežen pri izvajanju kodeksa ravnanja, ki si bo zadal te cilje in tudi podprl člen 34 o trgih finančnih instrumentov, ki zahtevajo borze, da vsem uporabnikom zagotovijo možnost določanja sistema poravnave, s katerim želijo poravnati svoje transakcije pri čezmejnih transakcijah z delnicami; namerava v tem smislu natančno pregledati razvoj kodeksa ravnanja in projekta za vrednostne papirje, tj. sistema TARGET2, s poudarjanjem upravljanja in nadzora, ki sta potrebna za obvladovanje navzkrižja interesov; poziva Svet in Komisijo, naj nemudoma začneta s pobudami, ki so potrebne za popolno odpravo ovir v nadzoru javnega sektorja in so povezane s pravnimi in davčnimi ovirami, ki so navedene v poročilu Giovanninijeve skupine in na področjih, ki jih kodeks ravnanja ne zajema;
11. w hile calling for progress in removing the other barriers identified in the Giovannini Group's report on Cross-Border Clearing and Settlement Arrangements in the European Union of November 2001, strongly reiterates the need to improve the post-trading infrastructure both with a view to price transparency and competition as to the public interest of clearing and settlement security; welcomes the progress being made in implementing the Code of Conduct which will deliver those aims and which will also support Article 34 of MiFID, requiring stock exchanges to provide all their users with the option of designating the settlement system in which they want to settle their transactions in the event of cross-border share transactions; intends closely to scrutinise the developments surrounding the Code of Conduct as well as the TARGET2 Securities project in this context, emphasising the governance and supervision needed to cope with conflicts of interest; and calls the Council and the Commission to launch, without further delay, the initiatives required to remove completely the obstacles under the control of the public sector relating to the legal and fiscal barriers identified in the Giovannini Group's report and in the areas not covered by the Code of Conduct.;
12. poudarja vedno večji vpliv posrednikov za glasovanje in finančnih posrednikov, ki imajo opredmetena osnovna sredstva potrošnikov preko posrednega sistema delnic; poziva Komisijo, naj oceni morebitno nevarnost prevlade trga, zlorabe trga in navzkrižja interesov takih posrednikov ter natančno spremlja učinke pričakovane direktive o uveljavljanju glasovalnih pravic delničarjev družb;
12. p oints to the increasing influence of proxy voting intermediaries and financial intermediaries holding consumers' tangible assets through indirect holding systems; asks the Commission to assess the potential risks of market dominance, market abuse and conflicts of interest by such intermediaries and to closely monitor the effects of the prospective directive on the exercise of voting rights by shareholders of companies;
15. poudarja pomen zagotavljanja neodvisnosti finančnih analitikov in posredovalcev podatkov o finančnih trgih s preglednimi strukturami financiranja; poziva Komisijo, naj obravnava nerešena vprašanja Direktive Komisije 2004/72/ES
Underlines the importance of ensuring the independence of financial analysts and financial market data providers through transparent funding structures; urges the Commission to address the issues unresolved by Commission Directive 2004/72/EC
UL L 162, 30.4.2004, str.
OJ L 162, 30.4.2004, p.
Nadomestni naložbeni nosilci
Alternative investment vehicles
16. se popolnoma zaveda hitrega pojavljanja nadomestnih naložbenih nosilcev (hedge skladi in zasebna kapitalska podjetja); priznava, da zagotavljajo likvidnost in diverzifikacijo na trgu, vendar tudi deli skrb nekaterih centralnih bank in nadzornikov, da lahko povzročijo sistemsko tveganje in visoko stopnjo izpostavljenosti drugih finančnih institucij;
16. i s fully aware of the rapid rise of alternative investment vehicles (hedge funds and private equity); recognises that they provide liquidity and diversification in the market and create an opportunity to improve efficiency of corporate management, but also shares the concerns of some central banks and supervisors that they may give rise to systemic risk and to high levels of exposure of other financial institutions;
19. poziva Komisijo, naj oceni kakovost nadzora na lokacijah v tujini in spodbudi sodelovanje z nadzorniki v teh sodnih pristojnostih; pri pregledu, med drugim davčnih ukrepov, ki bodo odgovarjali nezaželenemu begu kapitala v davčne raje, namerava združiti moči z odborom kongresa ZDA za finančne storitve predstavniškega doma;
19. u rges the Commission to assess the quality of supervision in off-shore locations and to step up cooperation with the supervisors in these jurisdictions; intends to join forces with the US Congress Financial Services Committee of the House of Representatives in investigating, inter alia, tax measures to respond to the undesired flight of capital to tax havens;
Dostop do maloprodajnih finančnih storitev
Access to finance in the retail segment
21. ugotavlja, da je čezmejno povezovanje maloprodajnih finančnih trgov EU manj razvito kot na veleprodajnem področju; ugotavlja, da potrošniki še vedno bolj uporabljajo fizično prisotne ustanove kot virtualne ustanove in ugotavlja tudi pretežno domače usmerjeno finančno strukturo; opozarja pred preprostim spreminjanjem nacionalnih tradicij varstva potrošnikov in pravnih sistemov z usklajevanjem, ki bi ustrezalo vsem; meni, da se nacionalnih tradicij varstva potrošnikov ne more tolmačiti tako, da bi bili novi konkurenti ovirani na domačem trgu; poudarja potrebo po dobro delujočem notranjem trgu za finančne storitve; ugotavlja pomen posrednikov, da bi vnesli konkurenco v domače trge držav članic; poudarja koristi odprtih in pluralističnih struktur evropskega bančnega trga, da bi izpolnili različne in nastajajoče potrebe potrošnikov;
21. n otes that cross-border integration of EU retail financial markets is less developed than in the wholesale area; notes that consumers still use physically present institutions more than virtual ones, and notes a predominantly domestic-oriented financing structure; but warns against simply overhauling the national consumer protection traditions and legal systems by one-size-fits-all harmonisation; takes the view that national consumer protection traditions must not be interpreted in such a way that new competitors are hindered on the domestic market; underlines the need for a well-functioning internal market for financial services; notes the importance of intermediaries in order to bring competition to Member States' domestic markets; stresses the benefits of open and pluralistic structures in the European banking market to meet the different and evolving needs of consumers;
23. poudarja potrebo po primerjavi enakih tveganj z enako varnostjo na skupnem evropskem trgu finančnih produktov ter temu primerno vodenje kapitalskih zahtev; meni, da je treba za ustvarjanje preglednosti in varstvo potrošnikov državam članicam preprečiti njihovo udeležbo v konkurenci, ki temelji na najmanjšem nadzoru in najnižjih varnostnih standardih;
Points to the need for the same risks to be matched by the same security on a common European market in financial products and for capital requirements to be couched accordingly; maintains that in order to make for transparency and protect consumers, Member States must be prevented from engaging in competition based on the lowest supervision and security standards;
26. poziva Komisijo, naj poleg vidika sedanjega položaja SWIFT preuči, če bi Evropska unija lahko vzpostavila lastni sistem bančnih kartic;
Calls on the Commission to consider, not least in the light of the current position regarding SWIFT, whether the European Union might be able to set up its own banking card system;
29. poziva Komisijo, naj v smislu navedenega ponovno poda pobudo z namenom zagotoviti evropski statut za vzajemne družbe, kot je zahtevano v resoluciji Parlamenta z dne 16. maja 2006 o izidu pregleda zakonodajnih predlogov, ki se bodo obravnavali pred zakonodajalcem
Urges the Commission, in the light of the foregoing, to reactivate the initiative aimed at providing mutual societies with a European statute, as called for in Parliament’s resolution of 16 May 2006 on the outcome of the screening of legislative proposals pending before the Legislator
30. potrjuje izziv staranja prebivalstva; poudarja pomen skupne poklicne pokojnine iz drugega stebra poleg ustreznega sistema pokojninskega zavarovanja iz prvega stebra, ki temelji na solidarnosti, ter potrjuje Direktivo 2003/41/ES
30. a cknowledges the challenge of ageing; emphasises the importance of collective second pillar occupational pensions in addition to proper solidarity-based first-pillar pension schemes, and endorses Directive 2003/41/EC
10. o dejavnostih in nadzoru institucij za poklicno pokojninsko zavarovanje kot poseben regulativni okvir za pokojninske sklade; poziva Komisijo, naj preuči možnosti v okviru boljše zakonodaje z namenom v Evropski uniji spodbujati približevanje pri nadzoru in preprečevati neenako obravnavo tržnih akterjev in izkrivljanje konkurence, dopolniti to direktivo z usklajenim solventnim okvirom za pokojninske sklade v skladu s pristopom Solventnost II, z namenom omogočiti obvladovanje tveganja ter zavirati regulatorno arbitražo z vzpostavljanjem enakih zahtev nadzora iz kvalitativnega vidika v smislu standardov obvladovanja tveganja, kot tudi kvantitativnega glede kapitalskih zahtev ('enako tveganje, enak kapital'), ob upoštevanju posebnih značilnosti pokojninskega zavarovanja; poudarja, da mora tak zakonodajni okvir podpreti uskladitev obdavčenja, zlasti s poudarkom na davčni osnovi;
10. on the activities and supervision of institutions for occupational retirement provision as the specific regulatory framework for pension funds; urges the Commission to explore the possibility, within the framework of better regulation, in order to promote supervisory convergence across the European Union and to prevent unequal treatment of market players and distortions of competition, to supplement that Directive with a harmonised solvency framework for pension funds in line with the Solvency II approach, in order to provide for advanced risk management techniques as well as disincentives for regulatory arbitrage by establishing equal supervision requirements both from the qualitative point of view, in terms of risk management standards, and quantitatively, as regards capital requirements (‘same risk, same capital’), taking into account the specific features of occupational retirement provision; and reiterates that such a legislative framework must be supported by the coordination of taxation, especially concentrating on the tax base;
31. ugotavlja, da je preveč državljanov EU, ki nimajo dostopa do osnovnih finančnih storitev; ugotavlja, da morajo biti dobro delujoče finančne storitve na voljo in dosegljive vsem državljanom; poziva Komisijo, da izvede študijo o dostopnosti storitev, kot so bančni računi, bankomati, plačilne kartice in posojila z nizkimi obrestmi; spodbujati je treba najboljšo prakso in izkušnje, ki so jih pridobile finančne institucije za zagotavljanje osnovnih storitev;
31. n otes that too many EU citizens are excluded from basic financial services; concludes that well-functioning basic financial services should remain available and affordable to every EU citizen; asks the Commission to conduct a study into the accessibility of services such as bank accounts, cash machines, payment cards, and loans at low cost; and to promote best practices and experiences developed by financial institutions to provide such basic services;
33. opozarja na povečevanje števila ponudnikov posebnih finančnih storitev za skupine migrantov, ki prenašajo nakazila in razvijajo bančni sistem, vključno z islamskim bančništvom; opozarja, da morajo biti zahteve za te nove akterje na področju tržne niše trdne, vendar take, da se prepreči pojav sivega območja, v katerem pregled nad delovanjem ni mogoč; poziva Evropsko unijo, zlasti pri njenih odnosih z matičnimi državami delavcev migrantov, naj sodeluje z ustreznimi lokalnimi gospodarskimi in monetarnimi organi;
Signals the growth of specific financial service providers for migrant groups, which transfer remittances and develop the banking system, including Islamic banking; warns that requirements for those new niche players should be solid but also such as to prevent them from disappearing into a grey zone, where no oversight at all is possible; calls on the European Union, especially when pursuing its relations with home countries of migrant workers, to cooperate with the appropriate local economic and monetary authorities ;
Finančna pismenost in prispevek uporabnikov k oblikovanju politike
Financial literacy and users´ input in policymaking
36. izrecno podpira pobude Komisije za izboljšanje finančnih zmožnosti ter poziva Komisijo in države članice, da bolj prispevajo k oblikovanju posebnih programov in spletnih strani, v katera morajo biti prav tako vključena zadevna podjetja ter tudi, da jih vključijo v osnovnošolsko izobraževanje;
Strongly supports the Commission’s initiatives to upgrade financial capability and invites the Commission and the Member States to increase their efforts to create specific programmes and websites, in which the firms concerned should likewise be involved, but also urges them to make it an integral part of basic school education;
37. pozdravlja ustanovitev skupine potrošnikov finančnih storitev ter prizadevanje za vključitev predstavnikov uporabnikov v strokovne skupine in posvetovanja; ugotavlja, da vloga potrošnikov in končnih uporabnikov, kot so mala in srednje velika podjetja, kljub vsemu zelo zaostaja za finančno industrijo; priporoča uvedbo evropske proračunske vrstice za financiranje strokovnega znanja in izkušenj organizacij potrošnikov ter malih in srednjih podjetij v zvezi s finančnim trgom, da se spodbudijo postopki posvetovanja iz FSAP;
37. w elcomes the establishment of the Financial Services Consumer Group and the attempts to involve user representatives in expert groups and consultations; notes that, nevertheless, the voice of consumers and end users such as SMEs lags far behind that of the financial industry; recommends the creation of a European budget line to finance financial market expertise in consumer and SME organisations in order to feed into the FSAP consultation processes;
Boljša zakonodaja
Better regulation
40. ugotavlja, da ena prednostnih nalog boljše zakonodaje zadeva pravni vidik, in sicer izvajanje, uveljavljanje in neprestano ocenjevanje obstoječe zakonodaje ter dosledno uporabo načela boljše zakonodaje v vseh prihodnjih pobudah;
Notes that one of the priorities of better regulation concerns the legal aspect, namely to implement, enforce and continuously evaluate the existing legislation and to apply rigorously the better regulation agenda to future initiatives;
45. zavzema se po možnosti za hitre zakonodajne postopke, če so se izkazali za uspešne v praksi, vendar opozarja, da sprejetje sporazumov na prvi obravnavi ne sme zmanjšati kakovosti sprejemanja odločitev ali negativno vplivati na demokratični proces; predlaga oceno teh postopkov in pripravo postopkovnih pravil, da se zagotovita kolektivna odgovornost, preglednost in demokratičen nadzor;
Is committed to fast-track legislative procedures where possible, if they have proved their worth in practice, but warns that aiming for first reading agreements should not hamper the quality of decision-making or impinge on the democratic process; suggests an evaluation of these processes and an elaboration of rules of procedure to guarantee collective responsibility, transparency and democratic control;
Sistemska tveganja
Systemic risks
48. seznanja se z vrsto novih dogajanj, ki predstavljajo morebitne prednosti in skrbi, vključno z inovativnimi tehnikami za zmanjšanje tveganja, znatnim povečanjem trga kreditnih izvedenih finančnih instrumentov, vse večjim sistemskim pomenom velikih vseevropskih finančnih skupin in povečano vlogo nebančnih finančnih ustanov, kot so hedge skladi ter zasebna kapitalska podjetja;
48. t akes note of a range of new developments, which present both potential strengths and possible concerns including innovative risk mitigation techniques, the substantial growth of credit derivatives markets, the increased systemic importance of large pan-European financial groups, and the growing role of non-bank financial institutions such as hedge funds and private equity;