natgillin/translations-raw huggingface dataset:
Kljub njihovemu ključnemu pomenu za delovanje finančnih trgov je poslovanje bonitetnih agencij le v omejenem obsegu urejeno z zakonodajo Skupnosti, zlasti z Direktivo 2003/6/ES Evropskega parlamenta in Sveta z dne 28. januarja 2003 o trgovanju z notranjimi informacijami in tržni manipulaciji.
Despite their significant importance for the functioning of the financial markets, credit rating agencies are only to a limited extent subject to Community legislation, notably Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation.
Poleg tega se na bonitetne agencije nanašata Direktiva 2006/48/ES Evropskega parlamenta in Sveta z dne 14. junija 2006 o začetku opravljanja in opravljanju dejavnosti kreditnih institucij ter Direktiva 2006/49/ES Evropskega parlamenta in Sveta z dne 14. junija 2006 o kapitalski ustreznosti investicijskih podjetij in kreditnih institucij.
Moreover, Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions and Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions refer to credit rating agencies.
Zato je pomembno določiti pravila za zagotovitev, da so vse bonitetne ocene, ki jih uporabljajo finančne institucije, na katere se nanaša zakonodaja Skupnosti, visoko kakovostne in da jih izdajajo bonitetne agencije, ki poslujejo v skladu s strogimi zahtevami.
It is therefore important to lay down rules ensuring that all ratings used by financial institutions governed by Community legislation are of high quality and issued by credit rating agencies subject to stringent requirements.
Komisija bo še naprej sodelovala s svojimi mednarodnimi partnerji, da zagotovi konvergenco pravil, ki se nanašajo na bonitetne agencije.
The Commission will continue to work with its international partners to ensure convergence of the rules applying to credit rating agencies.
Kljub njihovemu ključnemu pomenu za delovanje finančnih trgov je poslovanje bonitetnih agencij urejeno z zakonodajo Skupnosti le na omejenih področjih , zlasti z Direktivo 2003/6/ES Evropskega parlamenta in Sveta z dne 28. januarja 2003 o trgovanju z notranjimi informacijami in tržni manipulaciji.
Despite their significant importance for the functioning of the financial markets, credit rating agencies are subject to Community legislation only in limited areas , notably Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation.
Zato je pomembno določiti pravila za zagotovitev, da so vse bonitetne ocene, ki jih uporabljajo finančne institucije, na katere se nanaša zakonodaja Skupnosti, visoko kakovostne in da jih izdajajo bonitetne agencije, ki poslujejo v skladu s strogimi zahtevami.
It is therefore important to lay down rules ensuring that all credit ratings used by financial institutions governed by Community legislation are of high quality and issued by credit rating agencies subject to stringent requirements.
To pojasni, da za bonitetne agencije velja le omejena zakonodaja Skupnosti.
This clarifies that credit rating agencies are only subject to a very small number of Community legislation.
(3) Bonitetne agencije lahko prostovoljno upoštevajo Kodeks osnovnih načel ravnanja za bonitetne agencije, ki ga je izdalo Mednarodno združenje nadzornikov trga vrednostnih papirjev, v nadaljevanju „Kodeks IOSCO“.
(3) Credit rating agencies may apply on a voluntary basis the Code of Conduct Fundamentals for credit rating agencies issued by the International Organisation of Securities Commissions, hereinafter the "IOSCO code".
Komisija je leta 2006 v Sporočilu o bonitetnih agencijah pozvala Odbor evropskih zakonodajalcev za vrednostne papirje, v nadaljevanju „CESR“, naj spremlja upoštevanje Kodeksa IOSCO in Komisiji o tem letno poroča.
In 2006 a Communication from the Commission on Credit Rating Agencies invited the Committee of European Securities Regulators, hereinafter "CESR", to monitor compliance with the IOSCO Code and report back to the Commission on an annual basis.
(3) Bonitetne agencije upoštevajo Kodeks osnovnih načel ravnanja za bonitetne agencije, ki ga je izdalo Mednarodno združenje nadzornikov trga vrednostnih papirjev, v nadaljevanju „Kodeks IOSCO“.
(3) Credit rating agencies sh ould apply the Code of Conduct Fundamentals for credit rating agencies issued by the International Organisation of Securities Commissions, hereinafter the "IOSCO code".
(5) Ocenjuje se, da bonitetnim agencijam v njihovih bonitetnih ocenah ni uspelo dovolj zgodaj pokazati poslabšanja tržnih pogojev.
(5) Credit rating agencies are considered to have failed to reflect early enough in their credit ratings the worsening market conditions.
Ta neuspeh je mogoče najbolje popraviti z ukrepi, povezanimi z nasprotji interesov, kakovostjo bonitetnih ocen, preglednostjo bonitetnih agencij, njihovo notranjo ureditvijo in nadzorom njihovih dejavnosti.
This failure can be best corrected by measures related to conflicts of interest, the quality of the credit ratings, the transparency of the credit rating agencies, their internal governance and surveillance of the activities of the credit rating agencies.
Uporabniki bonitetnih ocen se ne bi smeli slepo zanašati le na bonitetne ocene.
The users of credit ratings should not rely blindly on credit ratings.
Zelo skrbno bi morali opravljati tudi lastne analize in ravnati s skrbnostjo dobrega gospodarja, kadar se opirajo na take bonitetne ocene.
They should take utmost care to perform own analysis and conduct due diligence regarding their reliance on such credit ratings.
(5) Ocenjuje se, da na eni strani bonitetnim agencijam v njihovih bonitetnih ocenah ni uspelo dovolj zgodaj pokazati poslabšanja tržnih pogojev in na drugi strani, da niso pravočasno prilagodile svojih bonitetnih ocen po poslabšanju gospodarske krize .
(5) Credit rating agencies are considered to have failed , on the one hand, to reflect early enough in their credit ratings the worsening market conditions and , on the other , to adjust their ratings in time following the deepening market crisis .
Uporabniki bonitetnih ocen bi se morali zanašati na bonitetne ocene , vendar jim ne bi smeli slepo zaupati .
The users of credit ratings should be able to rely to a reasonable extent, though not blindly , on credit ratings.
Zelo skrbno bi morali opravljati tudi lastne analize in vedno ravnati s skrbnostjo dobrega gospodarja, kadar se opirajo na take bonitetne ocene.
They should take utmost care to perform own analysis and conduct due diligence at all times regarding their reliance on such credit ratings.
(5a) Ocena državnega dolga bi morala biti obravnavana kot javni interes in bi jo zato morali vzporedno pripraviti ločeni akterji, kot so nacionalna računska sodišča in Evropsko računsko sodišče.
(5a) The rating of sovereign debt should be considered to be a public good and should therefore be undertaken by separate actors in parallel, such as the national courts of auditors and the European Court of Auditors .
Sedanja kriza je pri državnem dolgu odkrila dejavnosti, povezane s špekulacijami in tveganjem.
The current crisis has unveiled speculation and hedging activities on sovereign debt.
Ti pojavi so zelo škodljivi in jih je treba prepovedati.
These phenomena are highly detrimental and should be banned.
Rešitev bi lahko bila, da se pristojnost za ocenjevanje državnega dolga prenese na druge akterje.
Giving the responsibility of rating the sovereign debt to another actor might be a solution.
(5b) Treba je razmisliti o možnosti ustanovitve evropske javne bonitetne agencije.
(5b) The possibility of establishing a European public rating agency should be considered .
Sedanja kriza je pokazala, da je bonitetnim agencijam spodletelo, in poziva k novim akterjem na tem področju.
The current crisis has shown that credit rating agencies have failed and calls for new actors in this field.
To stališče je Parlament sprejel že pri glasovanju o poročilu s priporočili Komisiji v zvezi s skladi hedge in skladi zasebnega kapitala, ki ga je pripravil Poul Nyrup Rasmussen 11. septembra 2008.
This is the position the EP has already adopted when voting the “report with recommendations to the Commission on Hedge funds and private equity” by Poul Nyrup Rasmussen on 11 September 2008.
Uvodna izjava 5 c
Recital 5 c
(5c) Primerno je izvesti reformo CESR, in sicer tako, da se razširijo pristojnosti CESR in ta postane neodvisna evropska agencija ali pa se ustanovi nova neodvisna osrednja evropska agencija za izdajo bonitetnih ocen.
(5c) It is appropriate to carry out a reform of the CESR, either by expanding the CESR itself into an independent European agency, or by establishing a centralised European agency which issues credit ratings.
(6) Določiti je treba skupni okvir pravil v zvezi s kakovostjo bonitetnih ocen, ki jih uporabljajo finančne institucije, na katere se nanašajo usklajena pravila v Skupnosti.
(6) It is necessary to lay down a common framework of rules regarding the quality of credit ratings to be used by financial institutions regulated by harmonised rules in the Community.
V nasprotnem primeru bi obstajalo tveganje, da bi države članice sprejemale različne ukrepe na nacionalni ravni.
Otherwise, there would be a risk that Member States would take diverging measures at national level.
To bi imelo neposreden negativni učinek na dobro delovanje notranjega trga in ga oviralo, saj bi za bonitetne agencije, ki izdajajo bonitetne ocene, namenjene, da jih uporabljajo finančne institucije v Skupnosti, v različnih državah članicah veljala različna pravila.
This would have a direct negative impact on and create obstacles to the good functioning of the internal market, since the credit rating agencies issuing credit ratings for the use of financial institutions in the Community, would be subject to different rules in different Member States.
Poleg tega bi lahko različne zahteve glede kakovosti bonitetnih ocen vodile k različnim ravnem zaščite vlagateljev in potrošnikov.
Moreover, diverging quality requirements on credit ratings could lead to different levels of investor and consumer protection.
(6) Določiti je treba skupni okvir za izboljšanje kakovosti bonitetnih ocen, ki jih uporabljajo finančne institucije, na katere se nanašajo usklajena pravila v Skupnosti.
(6) It is necessary to lay down a common framework improving the quality of credit ratings to be used by financial institutions regulated by harmonised rules in the Community.
Uvodna izjava 6 a, 6 b in 6 c (novo)
Recitals 6 a, 6 b and 6 c (new)
(6a) Zaželeno je, da se bonitetne ocene subjektov ali proizvodov iz tretjih držav, ki jih pripravijo ali izdajo bonitetne agencije, ustanovljene in odobrene v tretji državi, lahko uporabljajo v Skupnosti, če izpolnjujejo zahteve, ki so enako stroge kot zahteve iz te uredbe.
(6a) It is desirable that credit ratings of entities or products located in a third countr y , prepared or issued by credit rating agencies established and authorised in a third-country, can be used in the Community provided that they comply with requirements that are as stringent as those provided for in this Regulation.
(6b) Ta uredba bi morala uvesti sistem odobravanja, ki omogoča bonitetnim agencijam, ustanovljenim v Skupnosti in registriranim v skladu s to uredbo, da odobrijo bonitetne ocene, izdane v tretjih državah, če je Komisija ugotovila, da je pravni in nadzorni okvir, ki ureja izvajanje dejavnosti bonitetnega ocenjevanja v tretjih državah, v okviru katerega se izdajo bonitetne ocene, enakovreden zahtevam iz te uredbe.
(6b) This Regulation should introduce an endorsement regime allowing credit rating agencies established in the Community and registered in accordance with this Regulation to endorse credit ratings issued in third countries provided that the Commission has recognised the legal and supervisory framework regulating the third-country credit rating activities resulting in the issuance of credit ratings to be endorsed as equivalent to this Regulation.
Zaradi zagotavljanja zaščite vlagateljev in lažjega odpravljanja kršitev te uredbe so zahteve iz te uvodne izjave bistvene za vzpostavitev referenčne točke v Evropski uniji, in sicer bonitetne agencije, ustanovljene v Skupnosti in registrirane v skladu s to uredbo.
In order to ensure investor protection and facilitate the remedying of any breach of this Regulation, the requirements set out in this Recital are essential for providing a point of reference in the European Union, namely a credit rating agency established in the Community and registered in accordance with this Regulation.
(6c) Bonitetna agencija, ki je odobrila bonitetne ocene, izdane v tretji državi, je v celoti in brezpogojno odgovorna za odobrene bonitetne ocene.
(6c) A credit rating agency that has endorsed credit ratings issued in a third country should be fully and unconditionally responsible for the endorsed credit ratings.
(8) Bonitetne agencije morajo oblikovati ustrezne notranje politike in postopke glede zaposlenih, ki so vključeni v bonitetni postopek, da preprečijo nasprotja interesov in v vsakem trenutku zagotovijo kakovost, neoporečnost in temeljitost bonitetnega postopka in postopka revizije.
(8) Credit rating agencies should establish appropriate internal policies and procedures in relation to employees involved in the credit rating process in order to prevent conflicts of interest and ensure at all times the quality, integrity and thoroughness of the rating and review process.
(8) Bonitetne agencije morajo oblikovati ustrezne notranje politike in postopke glede zaposlenih in drugih oseb , ki so vključeni v bonitetni postopek, da opredelijo, odpravijo ali obravnavajo in razkrijejo nasprotja interesov in v vsakem trenutku zagotovijo kakovost, neoporečnost in temeljitost bonitetnega postopka in postopka revizije.
(8) Credit rating agencies should establish appropriate internal policies and procedures in relation to employees and other persons involved in the credit rating process in order to identify, eliminate or manage and disclose conflicts of interest and ensure at all times the quality, integrity and thoroughness of the credit rating and review process.
V sklopu teh politik in postopkov bi zlasti morali uvesti sistem notranjega nadzora in dejavnost za spremljanje skladnosti.
An internal control system and a compliance function should, in particular, feature among such policies and procedures.
Odraža novo besedilo zadevnega člena glede odprave ali opredelitve, obravnave in razkritja nasprotja interesov.
It reflects the new wording of the respective article in terms of elimination or identification, management and disclosure of conflict of interests.
(10) Da se zagotovi neodvisnost bonitetnega postopka od poslovnega interesa bonitetne agencije kot podjetja, morajo bonitetne agencije poskrbeti, da ima upravni odbor oziroma nadzorni svet vsaj tri neizvršne člane, ki morajo biti neodvisni v smislu točke 13 oddelka III Priporočila Komisije 2005/162/ES o vlogi neizvršnih direktorjev ali članov nadzornega sveta javnih družb in o komisijah upravnega odbora ali nadzornega sveta .
(10) In order to ensure the independence of the credit rating process from the business interest of the credit rating agency as a company, the credit rating agencies should ensure that the administrative or supervisory board shall include at least three nonexecutive members, who should be independent along the lines of point 13 in Section III of Commission Recommendation 2005/162/EC on the role of non-executive or supervisory directors of listed companies and on the committees of the (supervisory) board .
Poleg tega mora imeti večina članov upravnega odbora ali nadzornega sveta , vključno z vsemi neodvisnimi člani, dovolj strokovnega znanja na področju finančnih storitev.
Moreover, it is necessary that the majority of members of the administrative or supervisory board , including all independent members have sufficient expertise in financial services.
(10) Da se zagotovi neodvisnost bonitetnega postopka od poslovnega interesa bonitetne agencije kot podjetja, morajo bonitetne agencije poskrbeti, da ima upravni odbor oziroma nadzorni svet neodvisnost pri spremljanju in poročanju o ustrezni skladnosti s to uredbo glede ohranjanja neodvisnosti in kakovosti bonitetnih ocen.
(10) In order to ensure the independence of the credit rating process from the business interest of the credit rating agency as a company, the credit rating agencies should ensure that the administrative or supervisory board is independent when monitoring and reporting on proper compliance with this Regulation with regard to the maintenance of the independence and quality of credit ratings .
Poleg tega morajo imeti člani upravnega odbora ali nadzornega sveta dovolj strokovnega znanja na primernih področjih finančnih storitev
Moreover, members of the administrative or supervisory board should have sufficient expertise in appropriate areas of financial services.
Ni potrebno, da nadzorne dejavnosti izvajajo neizvršni direktorji; v nekaterih državah članicah takih direktorjev ni, oziroma ne obstajajo v primerni obliki.
There is no need for the monitoring function to be by non-executive directors, and in some Member States such directorships do not exist or do not exist in an appropriate form.
Prav tako lahko pride do nasprotja interesov pri odgovornosti delničarjev.
Also there may be conflict of interest with shareholder responsibilities.
Poleg tega besedilo omogoča izbiro najboljše možnosti.
This ‘function’ formulation allows the best option to be selected .
(11) Da se preprečijo nasprotja interesov, plačilo za neodvisne člane upravnega odbora ali nadzornega sveta ne sme biti odvisno od poslovnih rezultatov agencije.
(11) In order to avoid conflicts of interest the remuneration of independent members of the administrative or supervisory board should not depend on the business performance of the agency.
(11) Da se preprečijo nasprotja interesov, plačilo za člane upravnega odbora ali nadzornega sveta ne sme biti odvisno od poslovnih rezultatov agencije.
(11) In order to avoid conflicts of interest the remuneration of the members of the administrative or supervisory board should not depend on the business performance of the agency.
(13) Dolgotrajna razmerja z istimi ocenjevanimi subjekti ali njihovimi povezanimi tretjimi stranmi bi lahko ogrozila neodvisnost analitikov in oseb, odgovornih za odobritev bonitetnih ocen .
(13) Long lasting relationships with the same rated entities or its related third parties could compromise independence of analysts and persons approving credit ratings .
Zato je treba za te analitike in osebe uporabljati sistem izmenjavanja.
Therefore those analysts and persons should be subject to a rotation mechanism.
(13) Dolgotrajna razmerja z istimi ocenjevanimi subjekti ali njihovimi povezanimi tretjimi stranmi bi lahko ogrozila neodvisnost analitikov , ki so v neposrednem stiku z izdajatelji .
(13) Long lasting relationships with the same rated entities or its related third parties could compromise independence of analysts that are in direct contact with issuers .
Zato je treba za te analitike uporabljati obvezni sistem izmenjavanja.
Therefore those analysts should be subject to a mandatory rotation mechanism.
(14) Bonitetne agencije morajo uporabljati ocenjevalne metodologije, ki so stroge, sistematične in ustaljene ter iz katerih izhajajo bonitetne ocene, ki jih je mogoče ovrednotiti na podlagi preteklih izkušenj .
(14) Credit rating agencies should use rating methodologies that are rigorous, systematic, and continuous and result in ratings that may be subject to validation based on historical experience.
Bonitetne agencije morajo poskrbeti, da se metodologije, modeli in ključne ocenjevalne predpostavke, ki se uporabljajo za določanje bonitetnih ocen, primerno vzdržujejo, posodabljajo in celovito revidirajo v rednih časovnih presledkih.
Credit rating agencies should ensure that methodologies, models and key rating assumptions used for determining credit ratings are properly maintained, up-to-date and subject to a comprehensive review on a periodic basis.
Kadar se zaradi pomanjkanja zanesljivih podatkov ali zapletenosti nove vrste strukture, zlasti strukturiranih finančnih instrumentov, postavljajo resna vprašanja glede tega, ali lahko bonitetna agencija izdela verodostojno bonitetno oceno, bonitetna agencija ne sme izdati bonitetne ocene oziroma mora preklicati bonitetno oceno, ki je že izdana .
In cases where the lack of reliable data or the complexity of the structure of a new type, in particular structured finance instruments, raises serious questions as to whether the credit rating agency can produce a credible credit rating, the credit rating agency should refrain from issuing a credit rating or withdraw an existing credit rating .
(14) Bonitetne agencije morajo uporabljati ocenjevalne metodologije, ki so stroge, sistematične in ustaljene ter iz katerih izhajajo dobro utemeljene in tehtno potrjene bonitetne ocene, ki jih je mogoče ovrednotiti tudi z ustreznimi preteklimi izkušnjami .
(14) Credit rating agencies should use rating methodologies that are rigorous, systematic, and continuous , and should result in well-founded and solidly substantiated ratings that may be subject to validation including by appropriate historical experience.
Bonitetne agencije morajo poskrbeti, da se metodologije, modeli in ključne matematične, korelacijske in druge predpostavke, ki se uporabljajo za določanje bonitetnih ocen, primerno vzdržujejo, posodabljajo in celovito revidirajo v rednih časovnih presledkih , opisi pa objavljajo, na tak način, ki omogoča akademsko revizijo .
Credit rating agencies should ensure that methodologies, models and key mathematical, correlation and other assumptions used for determining credit ratings are properly maintained, up-to-date and subject to a comprehensive review on a periodic basis and descriptions are published in a manner so as to permit academic review .
Kadar se zaradi pomanjkanja zanesljivih podatkov ali zapletenosti nove vrste strukture, zlasti strukturiranih finančnih instrumentov, postavljajo resna vprašanja glede tega, ali lahko bonitetna agencija izdela verodostojno bonitetno oceno, bonitetna agencija ne sme izdati bonitetne ocene.
In cases where the lack of reliable data or the complexity of the structure of a new type, in particular structured finance instruments, raises serious questions as to whether the credit rating agency can produce a credible credit rating, the credit rating agency should not issue a credit rating.
Spremembe kakovosti razpoložljivih informacij za spremljanje bonitetne ocene, ki je že izdana, se objavijo skupaj s to revizijo in po potrebi se opravi revizija bonitetne ocene.
Changes in the quality of information available for monitoring an existing rating sh ould be publicised with that review and, if appropriate, a revision of th at rating should be made.
(14a) Izdajatelji bi morali dati na razpolago informacije, ki jih zagotavljajo bonitetnim agencijam, tistim, ki to zahtevajo za namene neodvisne analize.
(14a) Issuers sh ould make available information provided to credit rating agencies to those who request it for the purpose of independent analysis.
Prejemniki takšnih informacij bi se morali predhodno strinjati, da jih ne bodo razkrili javnosti, oziroma ne bodo trgovali z zadevnimi vrednostnimi papirji.
Recipients of such information sh ould agree in advance neither to relay it to the public nor to trade in the relevant securities.
Uredba mora od izdajateljev zahtevati, da se drugim omogoči dostop do istih informacij, ki jih uporabljajo bonitetne agencije pri podajanju svoje presoje.
The regulation should require issuers to make available to others the same information as is used by the credit rating agencies in reaching their judgement.
Omogočanje dostopa do informacij bi ustvarilo priložnost za razvoj trga z dejansko neodvisnimi ocenami, ki jih niso plačali vlagatelji.
Making the information available would create the opportunity for a market to develop in truly independent ratings not paid for by the issuer.