natgillin/translations-raw huggingface dataset:
Smiselno je, da pristojni organi ostanejo odgovorni za vse vidike izdajanja dovoljenj CCP in nadzora CCP, vključno z odgovornostjo za preverjanje, ali CCP vlagateljica izpolnjuje zahteve iz te uredbe ter Direktive 98/26/ES Evropskega parlamenta in Sveta z dne 19. maja 1998 o dokončnosti poravnave pri plačilih in sistemih poravnave vrednostnih papirjev
It is appropriate that competent authoritiesretain the responsibility for all aspects of the authorisation and the supervision of CCPs, including the responsibility to verify that the applicant CCP is compliant with this Regulation and with Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems
45. , saj so najprimernejši za pregledovanje vsakodnevnega poslovanja CCP, izvajanje rednih pregledov in sprejemanje ustreznih ukrepov, če so potrebni.
45. , in view of the fact that those national competent authorities remain best placed to examine how the CCPs operate on a daily basis, to carry out regular reviews and to take appropriate action, where necessary.
(30) Če pri CCP obstaja tveganje nesolventnosti, lahko fiskalno odgovornost nosi predvsem država članica, kjer ima CCP sedež.
(30) Where a CCP risks insolvency, the fiscal responsibility may lie predominantly with the Member State in which it is established.
Iz tega sledi, da mora ustrezen pristojni organ te države članice CCP izdati dovoljenje in izvajati nadzor nad njo.
It follows that authorisation and supervision of that CCP should be exercised by the relevant competent authority of that Member State.
Ker pa imajo lahko klirinški člani CCP sedeže v različnih državah članicah in bo neizpolnitev finančnih obveznosti CCP nanje najprej vplivala, je nujno, da je v postopek izdaje dovoljenja in nadzora vključen organ ESMA .
However, since a CCP’s clearing members may be established in different Member States and they will be the first to be impacted by the CCP’s default, it is imperative that ESMA should be involved in the authorisation and supervisory process.
To bo preprečilo različne nacionalne ukrepe ali prakse ter ovire na notranjem trgu.
This will avoid divergent national measures or practices and obstacles to the internal market.
Organ ESMA bi moral pri pripravi priporočil in odločitev vključiti nadaljnje pristojne organe zadevnih držav članic.
ESMA should involve other competent authorities in the Member States concerned in the work of preparing recommendations and decisions.
(31) Treba je okrepiti določbe o izmenjavi podatkov med pristojnimi organi ter okrepiti njihove dolžnosti medsebojne pomoči in sodelovanja. ▐Pri izmenjavi informacij je potrebno strogo varovanje poslovnih skrivnosti.
(31) It is necessary to reinforce provisions on exchange of information between competent authorities and to strengthen the duties of assistance and cooperation between them. ▐ For the exchange of information, strict professional secrecy is needed.
Zaradi širokega vpliva pogodb o izvedenih finančnih instrumentih OTC je nujno, da imajo drugi regulativni organi ▐ dostop do informacij, ki so potrebne za izvajanje njihovih funkcij.
It is essential, due to the wide impact of OTC derivative contracts, that other regulatory authorities ▐ have access to information necessary to the exercise of their functions.
(31a) Nič v tej uredbi ne bi smelo omejevati ali ovirati, da CCP v eni jurisdikciji izvede kliring produkta, izraženega v valuti druge države članice EU ali valuti tretje države, ali od CCP zahtevati dovoljenje za opravljanje bančnih storitev, da dobi dostop do dnevne likvidnosti centralne banke.
(31 a) Nothing in this Regulation should attempt to restrict or impede a CCP in one jurisdiction from clearing a product denominated in the currency of another Member State or the currency of a third country, or to require a CCP to have a banking licence in order to have access to day-to-day central bank liquidity.
(32) Zaradi globalne narave finančnih trgov so potrebni dogovori za CCP s sedežem v tretjih državah o opravljanju klirinških storitev v Uniji.
(32) In view of the global nature of financial markets, agreements with CCPs established in third countries on the provision of clearing services within the Union are necessary .
Takšni dogovori bi morali vsebovati priznavanje CCP s sedežem v tretji državi v Uniji s strani organa ESMA in pristojnega organa države članice, v kateri namerava zadevni CCP opravljati klirinške storitve, ali pa odstopanja od pogojev in postopkov za izdajo dovoljenja, ki ga izda Komisija, pod pogojem, da je Komisija priznala pravni in nadzorni okvir te tretje države kot enakovreden okviru Unije in da so izpolnjeni za to potrebni pogoji.
Such agreements should cover the authorisation by ESMA and the competent authority of the Member State in which the CCP concerned intends to provide clearing services of authorisation of a CCP established in a third country or the granting by the Commission of an exemption from the authorisation conditions and procedure , provided that the Commission has recognised the legal and supervisory framework of that third country as equivalent to the Union framework and that the requisite conditions are met.
V tem okviru bodo imeli sporazumi z glavnimi mednarodnimi partnerji Unije pomembno vlogo pri zagotavljanju enakih konkurenčnih pogojev na globalni ravni in zagotavljanju finančne stabilnosti.
In this context, agreements with the Union's major international partners will be of particular importance in order to ensure a global level playing field and ensure financial stability.
(32a) Evropski svet je 16. septembra 2010 soglašal, da mora Unija v zunanjih odnosih Unije odločneje ter v duhu vzajemnosti in obojestranskih koristi spodbujati svoje interese in vrednote ter ukrepati, da bi med drugim evropskim podjetjem zagotovila večji dostop do trga in poglobila regulativno sodelovanje z glavnimi trgovinskimi partnerji.
(32a) On 16 September 2010, the European Council agreed on the need for the Union to promote its interest and values more assertively and in a spirit of reciprocity and mutual benefit in the context of the Union's external relations and to take steps, inter alia, to secure greater market access for European business and deepen regulatory cooperation with major trading partners.
(33) Ne glede na lastniško strukturo morajo CCP imeti zanesljivo ureditev upravljanja, višje vodstvo z dobrim ugledom in neodvisne člane upravnega odbora.
(33) CCPs should have robust governance arrangements, senior management of good repute and independent members on its board, irrespective of its ownership structure.
Vsaj tretjina članov in najmanj dva člana odbora bi morala biti neodvisna.
At least one third, and no less than two members of the board should be independent members.
Ti neodvisni člani ne bi smeli biti neodvisni člani v več kot enem drugem CCP.
Th o se independent members should not act as independent members in more than one other CCP.
Njihovo plačilo nikakor ne bi smelo biti povezano z uspešnostjo CCP.
Their remuneration sh ould not be linked in any way with the performance of the CCP.
Različne ureditve upravljanja in lastniške strukture CCP lahko vplivajo na pripravljenost ali zmožnost CCP za kliring določenih produktov.
However, different governance arrangements and ownership structures of a CCP may influence a CCP's willingness or ability to clear certain products.
Zato je primerno, da neodvisni člani upravnega odbora in odbor za tveganje, ki ga ustanovi CCP, obravnavajo vsa morebitna navzkrižja interesov znotraj CCP.
It is thus appropriate that the independent members of the board and the risk committee to be established by the CCP should address any potential conflict of interests within a CCP.
Klirinški člani in stranke morajo biti ustrezno zastopani, saj lahko nanje vplivajo odločitve, ki jih sprejme CCP.
Clearing members and clients need to be adequately represented as decisions taken by the CCP may have an impact on them.
(34) CCP lahko odda v zunanje izvajanje vse funkcije razen funkcij upravljanja tveganja, vendar le, če v zunanje izvajanje oddane funkcije ne vplivajo na pravilno poslovanje CCP in njeno zmožnost upravljanja tveganja.
(34) A CCP may outsource functions other than its risk management functions, but only where those outsourced functions do not impact on the proper operation of the CCP and on its ability to manage risks.
Zunanje izvajanje funkcij bi moral odobriti odbor za tveganja CCP.
Outsourcing of functions should be approved by the risk committee of the CCP.
(35) Zahteve glede sodelovanja za CCP morajo biti zato pregledne, sorazmerne in nediskriminatorne ter morajo omogočati oddaljeni dostop, če to CCP ne izpostavi dodatnim tveganjem.
(35) The participation requirements for a CCP should therefore be transparent, proportionate, and non-discriminatory and should allow for remote access to the extent that this does not expose the CCP to additional risks.
(36) Strankam klirinških članov, ki opravljajo kliring svojih izvedenih finančnih instrumentov OTC prek CCP, je treba zagotoviti visoko raven zaščite.
(36) Clients of clearing members that clear their OTC derivatives with CCPs should be granted a high level of protection.
Dejanska raven zaščite je odvisna od ravni ločevanja, ki jo stranke izberejo.
The actual level of protection depends on the level of segregation that those clients choose.
Posredniki morajo ločiti svoja sredstva od sredstev svojih strank.
Intermediaries should segregate their assets from those of their clients.
Zato morajo CCP voditi posodobljene in zlahka pregledne evidence.
For this reason, CCPs should keep updated and easily identifiable records.
Poleg tega bi morali biti računi članov, ki niso poravnali svoje obveznosti, prenosljivi na druge člane.
In addition, the accounts of members in default should be transferable to other members.
(36a) Vsaka pravna negotovost o učinkovitosti in možnosti uveljavljanja pravil in postopkov CCP glede razmejitve vrednosti premoženja in obveznosti klirinških članov in njihovih strank ter prenos postavk pri vstopu pred določenimi dogodki, bi spodkopalo stabilnost CCP.
(36a) Any form of legal uncertainty regarding the effectiveness and enforceability of a CCP’s rules and procedures governing the demarcation of the assets and obligations of the clearing members and their clients and the transfer of positions in response to pre-determined events would undermine the stability of a CCP.
Odločilne dogodke bi bilo treba predhodno opredeliti, da bi pridobili potrebno gotovost o daljnosežnosti zagotovljene zaščite.
The events whose nature is such as to trigger a transfer of positions should be specified in advance in order to safeguard the scope of the protection provided.
(37) CCP mora imeti zanesljiv okvir upravljanja tveganja za upravljanje kreditnih tveganj, likvidnostnih tveganj, operativnih in drugih tveganj, vključno s tveganji, ki jih nosi ali predstavlja za druge subjekte zaradi soodvisnosti.
(37) A CCP should have a sound risk management framework to manage credit risks, liquidity risks, operational and other risks, including the risks that it bears or poses to other entities as a result of interdependencies.
CCP mora imeti vzpostavljene postopke in mehanizme za obravnavanje neizpolnjevanja obveznosti klirinškega člana.
A CCP should have adequate procedures and mechanisms in place to deal with the default of a clearing member.
Za zmanjševanje tveganja negativnega vpliva takšnega neizpolnjevanja obveznosti mora imeti CCP vzpostavljene stroge zahteve glede sodelovanja, zbrati primerna začetna kritja, vzdrževati jamstveni sklad in razpolagati z drugimi finančnimi sredstvi za pokrivanje morebitnih izgub.
In order to minimise the contagion risk of such a default, the CCP should have in place stringent participation requirements, collect appropriate initial margins and maintain a default fund and other financial resources to cover potential losses.
Glavni cilj CCP bi moral ostati razvoj zelo trdnega upravljanja tveganja.
The development of a highly robust risk management should remain the primary objective of a CCP.
Vendar lahko po potrebi svoje lastnosti prilagodi posebnim dejavnostim in profilom tveganja strank klirinških članov ter lahko po potrebi v nabor visoko likvidnih sredstev, sprejetih kot zavarovanje, uvrsti vsaj denarna sredstva in državne obveznice ob ustreznih odbitkih.
However, it may adapt its features to the specific activities and risk profiles of the clients of the clearing members, and if deemed appropriate, may include in the scope of the highly liquid assets accepted as collateral at least cash and government bonds subject to adequate haircuts.
(37a) Upravljanje tveganj s strani CCP bi moralo biti zanesljivo in ne bi smelo prenašati tveganj na davkoplačevalca.
(37a) CCPs’ risk management strategies should be sound, and should not transfer risk to the taxpayer.
(37b) Odbor za finančno stabilnost opredeljuje CCP kot sistemsko pomembne institucije.
( 37b ) The F inancial S tability B oard has identified CCPs as systemically important institutions.
Na mednarodni ravni ali v Uniji ni skupne prakse o pogojih, po katerih ima CCP dostop do likvidnostnih posojil centralnih bank ali mora imeti dovoljenje kot kreditna institucija.
There is no common practice internationally or within the Union regarding conditions under which CCPs may access central bank liquidity facilities or may need to be licensed as credit institutions.
Izvajanje obveznosti kliringa, kot določa ta uredba, lahko poveča sistemski pomen CCP in potrebo po likvidnosti.
The implementation of the clearing obligation required by this Regulation may increase the systemic importance of CCPs and the need for liquidity.
Zato je treba Komisijo pozvati, naj upošteva rezultate tekočega dela med centralnimi bankami in naj v sodelovanju z Evropskim sistemom centralnih bank oceni potrebo po ukrepih, s katerimi bi omogočili dostop CCP do likvidnostnih posojil centralnih bank v eni ali več denarnih valutah, ter naj poroča Evropskemu parlamentu in Svetu.
The Commission should therefore be invited to take into account the results of any ongoing work between central banks, to assess, in cooperation with the ESCB, the possible need for measures to facilitate CCPs' access to central bank liquidity facilities in one or more currencies and to report to the European Parliament and the Council.
(38) Pozivi k doplačilu kritja in odbitki na zavarovanje s premoženjem imajo lahko prociklične učinke.
(38) Margin calls and haircuts on collateral may have procyclical effects.
CCP, pristojni organi in organ ESMA morajo zato sprejeti ukrepe za preprečevanje in nadzor morebitnih procikličnih učinkov v praksah upravljanja tveganja, ki so jih sprejele CCP, če to nima negativnega vpliva na zanesljivost in finančno varnost CCP.
CCPs, competent authorities and ESMA should therefore adopt measures to prevent and control possible procyclical effects in risk management practices adopted by CCPs, to the extent that a CCP's soundness and financial security is not negatively affected.
(39) Upravljanje izpostavljenosti je bistven del klirinškega procesa.
(39) Exposure management is an essential part of the clearing process.
Za zagotavljanje klirinških storitev na splošno je treba omogočiti dostop do ustreznih virov za oblikovanje cen in njihovo uporabo.
Access to, and use of, the relevant pricing sources should be granted to provide clearing services in general.
Takšni viri oblikovanja cen morajo vključevati vire, povezane z indeksi, ki se uporabljajo kot reference za izvedene finančne instrumente ali druge finančne instrumente.
Such pricing sources should include those related to indices that are used as references to derivatives or other financial instruments.
(40) Kritja so prva varovalka pri zaščiti CCP.
(40) Margins are the primary line of defence for a CCP.
Čeprav morajo CCP prejeta kritja vlagati varno in previdno, si morajo posebno prizadevati za zagotovitev ustrezne zaščite kritij, da jih lahko pravočasno vrnejo klirinškim članom, ki izpolnjujejo obveznosti, ali interoperabilni CCP, kadar CCP, ki pobira ta kritja, ne more izpolniti svojih obveznosti.
Although CCPs should invest the margins received in a safe and prudent manner, they should make particular efforts to ensure adequate protection of margins to guarantee that they are returned in a timely manner to the non-defaulting clearing members or to an interoperable CCP where the CCP collecting these margins defaults.
(40a) Dostop do ustreznih virov likvidnosti je za CCP bistven.
(40a) Access to adequate liquidity resources is essential for a CCP.
Taka likvidnost lahko izhaja iz dostopa do likvidnosti centralne banke ali posojilno sposobne in zanesljive poslovne banke ali kombinacije obojega.
It is possible for such liquidity to derive from access to central bank liquidity, creditworthy and reliable commercial bank liquidity, or a combination of both.
(41) Z „Evropskim kodeksom ravnanja za kliring in poravnavo“ z dne 7. novembra 2006
(41) The "European Code of Conduct for Clearing and Settlement" of 7 November 2006
http://ec.europa.eu/internal_market/financial-markets/docs/code/code_en.pdf. je bil vzpostavljen prostovoljni okvir za vzpostavitev povezav med CCP in repozitoriji sklenjenih poslov.
http://ec.europa.eu/internal_market/financial-markets/docs/code/code_en.pdf established a voluntary framework for setting up links between CCPs and trade repositories.
Vendar pa ostaja potrgovalni sektor razdrobljen glede na nacionalne meje, zaradi česar je čezmejno trgovanje dražje, usklajevanje pa ovirano.
However, the post-trade sector remains fragmented along national lines, making cross-border trades more costly and hindering harmonisation.
Zato je treba določiti pogoje za dogovore o interoperabilnosti med CCP, v kolikor ti zadevnih CCP ne bodo izpostavili neustrezno upravljanim tveganjem.
It is therefore necessary to lay down the conditions for the establishment of interoperable arrangements between CCPs to the extent these do not expose the relevant CCPs to risks that are not appropriately managed.
(42) Dogovori o interoperabilnosti so na splošno lahko pomembno orodje za večjo integracijo potrgovalnega trga v Uniji in morajo biti urejeni.
(42) Interoperability arrangements can , in general , be tools for greater integration of the post-trading market within the Union and regulation should be provided for.
Vendar pa dogovori o interoperabilnosti lahko izpostavijo CCP dodatnim tveganjem.
However, interoperability arrangements may expose CCPs to additional risks.
Glede na dodatno kompleksnost, povezano z dogovori o interoperabilnosti med CCP, ki opravljajo kliring pogodb o izvedenih finančnih instrumentih OTC, je na tej stopnji primerno zahtevati podaljšano obdobje treh let med prejetjem dovoljenja za kliring izvedenih finančnih instrumentov in preden se lahko zaprosi za dovoljenje za interoperabilnost, poleg tega pa tudi omejiti področje uporabe kasnejših dogovorov o interoperabilnosti na denarne instrumente.
Given the additional complexities involved in an interoperability arrangement between CCPs clearing OTC derivative contracts, it is appropriate at this stage to require a grace period of three years between receiving clearing authorisation for derivatives and eligibility to apply for authorisation for interoperability as well as to restrict the scope of subsequent interoperability arrangements to cash securities.
Vendar pa mora organ ESMA do 30. septembra 2014 Komisiji predložiti poročilo o tem, ali in kdaj bi bila razširitev področja uporabe na druge finančne instrumente primerna.
However, by 30 September 2014, ESMA should submit a report to the Commission on whether and when an extension of that scope to other financial instruments would be appropriate.
(43) Repozitoriji sklenjenih poslov zbirajo podatke za regulativne namene, pomembne za organe v vseh državah članicah.
(43) Trade repositories collect data for regulatory purposes that are relevant to authorities in all Member States.
Organ ESMA bi moral prevzeti odgovornost za registracijo repozitorijev sklenjenih poslov, razveljavitev njihove registracije in nadzor nad njimi.
ESMA should assume responsibility for the registration, withdrawal and surveillance of trade repositories.
(44) Glede na to, da se regulativni organi, CCP in drugi udeleženci na trgu zanašajo na podatke, ki jih vsebujejo repozitoriji sklenjenih poslov, je treba zagotoviti, da za te repozitorije sklenjenih poslov veljajo stroge zahteve glede vodenja evidenc in upravljanja podatkov.
(44) Given that regulators, CCPs and other market participants rely on the data maintained by trade repositories, it is necessary to ensure that those trade repositories are subject to strict record-keeping and data management requirements.
(45) Preglednost cen in pristojbin, povezanih s storitvami, ki jih zagotavljajo CCP, njegovi člani in repozitoriji sklenjenih poslov, je nujna, da bodo lahko udeleženci na trgu sprejemali utemeljene odločitve.
(45) Transparency of prices and fees associated with the services provided by CCPs , their members and trade repositories is necessary to enable market participants to make an informed choice.
(45a) Pri finančnih storitvah in trgovanju s pogodbami o izvedenih finančnih instrumentih so področja, kjer lahko obstajajo tudi trgovinske pravice in pravice intelektualne lastnine.
(45a) There are areas within financial services and trading of derivative contracts where commercial and intellectual property rights may also exist.
Kadar so te povezane s produkti ali storitvami, ki so postale industrijski standard ali nanje vplivajo, bi bilo treba zahtevati, da so dovoljenja na voljo pod sorazmernimi, sprejemljivimi in nediskriminacijskimi pogoji.
In instances where these relate to products or services which have become or impact upon industry standards there sh ould be a requirement for licences to be available on proportionate FRAND (Fair, Reasonable and Non-Discriminatory) terms.
(46) Organ ESMA lahko Komisiji predlaga nalaganje periodičnih denarnih kazni.
(46) ESMA should be able to propose to the Commission to impose periodic penalty payments.
Namen periodičnih denarnih kazni mora biti odprava kršitev, ki jih je ugotovil organ ESMA, zagotovitev popolnih in pravilnih informacij, ki jih zahteva organ ESMA, ali privolitev repozitorijev sklenjenih poslov , CCP, njihovih članov ali drugih oseb v preiskavo.
The purpose of those periodic penalty payments should be to achieve that an infringement established by ESMA is put to an end, that complete and correct information which ESMA has requested is supplied or that trade repositories , CCPs, their members or other persons submit to an investigation.
Poleg tega lahko Komisija za namene odvračanja in za zagotovitev, da repozitoriji sklenjenih poslov , CCP in njihovi člani spoštujejo zahteve iz te uredbe, naloži denarne kazni na zahtevo organa ESMA, kadar so namerno ali iz malomarnosti kršene nekatere določbe te uredbe.
Moreover, for deterrence purposes and to compel trade repositories , CCPs and their members to comply with this Regulation, the Commission should also be able to impose fines, following a request of ESMA, where intentionally or negligently, specific provisions of this Regulation have been breached.
Denarna kazen bi morala biti odvračilna in sorazmerna z naravo in resnostjo kršitve, trajanjem kršitve in ekonomsko močjo zadevnega repozitorija sklenjenih poslov , CCP ali člana .
The fine should be dissuasive and proportionate to the nature and seriousness of the breach, the duration of the breach and the economic capacity of the trade repository , CCP or member concerned.
(47) Organ ESMA mora imeti za učinkovito izvajanje nadzora nad repozitoriji sklenjenih poslov , CCP in njihovimi člani pravico, da opravlja preiskave in inšpekcijske preglede na kraju samem.
(47) In order to effectively survey trade repositories, CCPs and their members, ESMA should have the right to conduct investigations and on-site-inspections.