natgillin/translations-raw huggingface dataset:
(15) Pravila o obveznosti kliringa in poročanja ter pravila o tehnikah zmanjševanja tveganja za pogodbe o izvedenih finančnih instrumentih OTC, za katere ni opravljen kliring prek CCP, morajo veljati za finančne nasprotne stranke, in sicer investicijska podjetja, ki imajo dovoljenje po Direktivi 2004/39/ES, kreditne institucije, ki imajo dovoljenje po Direktivi 2006/48/ES zavarovalnice, ki imajo dovoljenje po Direktivi 73/239/EGS zavarovalnice, ki imajo dovoljenje po Direktivi 2002/83/ES Evropskega parlamenta in Sveta z dne 5. novembra 2002 o življenjskem zavarovanju
(15) Rules on clearing and reporting obligations and rules on risk mitigation techniques for derivative contracts not cleared by a CCP should apply to financial counterparties, namely investment firms authorised under Directive 2004/39/EC, credit institutions authorised under Directive 2006/48/EC, insurance undertakings authorised under Directive 73/239/EEC, assurance undertakings authorised under Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 concerning life assurance
UL L , pozavarovalnice, ki imajo dovoljenje po Direktivi 2005/68/ES, kolektivne naložbene podjeme za vlaganja v prenosljive vrednostne papirje (KNPVP), ki imajo dovoljenje po Direktivi 2009/65/ES Evropskega parlamenta in Sveta z dne 13. julija 2009 o usklajevanju zakonov in drugih predpisov o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje (KNPVP)
OJ L , reinsurance undertakings authorised under Directive 2005/68/EC, undertakings for collective investments in transferable securities (UCITS) authorised under Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)
UL L , in alternativne investicijske sklade, ki jih upravljajo upravitelji alternativnih investicijskih skladov, ki imajo dovoljenje ali so registrirani po Direktivi 2011/61/EU
OJ L , and alternative investment funds managed by alternative investment fund managers authorised or registered under Directive 2011/61/EU
+ UL Prosimo, vstavite številko, datum in podrobnosti objave v UL. + Evropskega parlamenta in Sveta o upraviteljih alternativnih investicijskih skladov
+ OJ please insert number, date and OJ reference. + of the European Parliament and of the Council on Alternative Investment Fund Managers
UL L ... . .
OJ L .... .
(15a) Dejavnosti KNPVP, ki opravljajo le manjše transakcije z izvedenimi finančnimi instrumenti, bi bilo treba zato oceniti, da bi natančno določili podlago, na kateri bi morali biti razvrščeni kot finančne nasprotne stranke v smislu te uredbe.
(15a) The activities of UCITS which carry out only low-volume derivatives transactions should therefore be assessed in order to determine on what precise basis they should be classified as financial counterparties within the meaning of this Regulation.
V zvezi s tem bi bilo treba sprejeti ukrepe, s katerimi bi preprečili izkrivljanje konkurence in zmanjšali obseg zlorab.
In that connection, steps should be taken to prevent distortions of competition and reduce the scope for abuse.
V ta namen se prag kliringa za nefinančne nasprotne stranke ne bi smel samodejno uporabljati za KNPVP.
For that reason, the clearing threshold for non-financial counterparties should not automatically be applied to UCITS .
Namesto tega bi bilo treba upoštevati in uvesti ozko opredeljeno odstopanje.
I nstead, a narrowly defined derogation should be considered and introduced.
(15b) KNPVP bi morali biti vključeni v področje uporabe te uredbe, saj v raznolike naložbene politike KNPVP spadajo tudi transakcije v pogodbah o izvedenih finančnih instrumentih.
( 15b ) UCITS should be within the scope of this R egulation, as the diversified investment policies of UCITS also include transactions in derivative contracts.
V zadnjih letih je bila zabeležena znatna rast KNPVP, ki po ocenah predstavljajo 50 % BDP Unije, zaradi svoje znatne naložbene zmogljivosti pa imajo tudi svetovni sistemski pomen.
UCITS have in recent years considerably grown and represent an estimated 50 % of Union GDP, having also a global systemic importance considering their significant investment capacity.
(15c) Za pokojninske sklade, kakor so opredeljeni v Direktivi 2003/41/ES Evropskega parlamenta in Sveta z dne 3. junija 2003 o dejavnostih in nadzoru institucij za poklicno pokojninsko zavarovanje
( 15c ) Pension funds as defined in Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision
10. s profilom tveganja, ki je nenaklonjen tveganju, in za katere se izvedeni finančni instrumenti uporabljajo za zavarovanje pred tveganji pokojninske obveznosti, bi bilo treba uveljaviti obveznost poročanja in tehnike za zmanjševanje tveganja za pogodbe o izvedenih finančnih instrumentih OTC, za katere se ne opravlja kliring prek CCP, kakor določa ta uredba.
10 with a risk - averse risk-profile and that use derivates to hedge their pension liability risks should be made subject to the reporting obligations and the risk - mitigation techniques for OTC derivative contracts not cleared by a CCP as laid down in this R egulation.
Za te pokojnine pa ne bo veljala obveznost kliringa, da se preprečijo nesorazmerni stroški za upokojence.
Th o se pensions should not, however , be subject to the clearing obligation in order to avoid disproportionate costs for pensioners.
(16) Kjer je primerno, bi morala pravila, ki veljajo za finančne nasprotne stranke, veljati tudi za nefinančne nasprotne stranke.
(16) Where appropriate, rules applicable to financial counterparties should also apply to non-financial counterparties.
Znano je, da nefinančne nasprotne stranke uporabljajo pogodbe OTC, da se zavarujejo pred poslovnimi tveganji, ki so neposredno povezana z njihovimi poslovnimi dejavnostmi.
It is recognised that non-financial counterparties use OTC contracts in order to cover themselves against commercial risks directly linked to their commercial activities.
Posledično je treba pri ugotavljanju, ali naj za določeno nefinančno nasprotno stranko velja obveznost kliringa, upoštevati namen, s katerim nefinančna nasprotna stranka uporablja izvedene finančne instrumente OTC, in obseg izpostavljenosti pri teh instrumentih.
Consequently, in determining whether a non-financial counterparty should be subject to the clearing obligation, consideration should be given to the purpose for which that non - financial counterparty uses OTC derivatives and to the size of the exposures that it has in those instruments.
Nefinančne nasprotne stranke bi morale pojasniti uporabo izvedenih finančnih instrumentov v svojih letnih poročilih ali na drug primeren način.
Non-financial counterparties should explain the use of derivatives through their annual report or other appropriate means.
Pri določanju praga za obveznost kliringa bi se moral organ ESMA posvetovati z vsemi ustreznimi organi, kot so regulativni organi, odgovorni za blagovne trge, in nefinančnimi nasprotnimi strankami za zagotovitev, da so posebnosti teh sektorjev v celoti upoštevane.
When establishing the threshold for the clearing obligation, ESMA should consult all relevant authorities, such as regulators responsible for commodity markets, and the non-financial counterparties , in order to ensure that the particularities of those sectors are fully taken into account.
Poleg tega bi morala Komisija do 31. decembra 2013 oceniti sistemski pomen transakcij nefinančnih podjetij z izvedenimi finančnimi instrumenti OTC v različnih sektorjih, vključno z energetskim.
Moreover, by 31 December 2013, the Commission should assess the systemic importance of the transactions of non-financial firms in OTC derivatives in different sectors, including in the energy sector.
V primeru uveljavitve primerljive vrste pravil EU, prilagojenih posameznemu sektorju, bi morala Komisija takoj razmisliti o umiku tega sektorja iz področja uporabe te uredbe in predložiti ustrezne zakonodajne predloge.
Should a comparable set of EU rules tailored to individual sectors come into force, the Commission should immediately consider whether the sector should be removed from the scope of this Regulation and should put forward appropriate legislative proposals.
(16a) Prag kliringa za nefinančne nasprotne stranke je zelo pomemben podatek za vse udeležence na trgu.
(16a) The clearing threshold for non-financial counterparties is a very important figure for all market participants.
Pri njegovem določanju bi bilo treba oceniti tako kvalitativna kot kvantitativna merila in jih primerno upoštevati.
Both qualitative and quantitative criteria should be assessed and given a suitable weighting when the clearing threshold is set.
V zvezi s tem bi si bilo treba ustrezno prizadevati za standardizacijo pogodb OTC v precejšnji meri ter priznati pomen zmanjševanja tveganja za nefinančne nasprotne stranke v okviru njihovega običajnega poslovanja.
In that connection, appropriate efforts should be made to standardise OTC contracts to a considerable extent and to recognise the importance of risk mitigation for non-financial counterparties in the context of their normal business activity.
Uvedbo pragov na podlagi pomena podjetja za trg kot celoto ali za segment trga OTC bi lahko dopolnili z uporabo stopenj operativnega tveganja.
The introduction of thresholds based on the relevance of the undertaking for the market as a whole or for an OTC market segment could be supplemented by the use of operational risk ratios.
(16b) Da bi mala in srednja podjetja izvzeli iz obveznosti kliringa, bi bilo treba upoštevati tudi prage kliringa OTC, specifične za posamezni sektor, ki temeljijo na skupnem obsegu pogodb, ki jih sklene podjetje.
(16b) With a view to exempting small and medium-sized enterprises (SM E s) from the clearing obligation, consideration should also be given to sector-specific OTC clearing thresholds based on the total volume of contracts concluded by an undertaking.
Poleg tega bi moral organ ESMA preučiti, ali bi lahko v zvezi z obveznostjo poročanja za mala in srednja podjetja uvedli pravilo de minimis.
In addition, ESMA should examine whether a de minimis rule might be introduced for SM E s in connection with the reporting obligation.
(16c) Komisija bi morala zagotoviti, da cene in prihodnji zakonodajni predlogi ne bodo spodkopali nujne ustrezne uporabe izvedenih finančnih instrumentov OTC s strani nefinančnih nasprotnih strank za zavarovanje pred tržnimi tveganji, ki nastajajo pri poslovnih operacijah.
(16c ) The Commission sh ould ensure that the necessary and appropriate use of OTC derivatives by non-financial counterparties to hedge market risks arising from business operations is not undermined in terms of pricing or availability by future legislative proposals.
(17) Pogodbo, ki jo je sklenil sklad, ne glede na to, ali ima upravitelja ali ne, je treba obravnavati v okviru te uredbe.
(17) A contract entered into by a fund, whether managed by a fund manager or not, should be considered within the scope of this Regulation.
(18) Centralne banke in druge nacionalne organe, ki opravljajo podobne funkcije, druge javne organe, ki so zadolženi za upravljanje javnega dolga ali ki posredujejo pri upravljanju javnega dolga, in multilateralne razvojne banke, navedene v oddelku 4.2 dela 1 Priloge k VI Direktivi 2006/48/ES , Banko za mednarodne poravnave in nekatere osebe javnega sektorja, opredeljene v členu 4(18) Direktive 2006/48/ES , je treba izključiti s področja uporabe te uredbe, da ne bi prišlo do omejevanja njihove pristojnosti pri posegih za stabilizacijo trga, če in ko je to potrebno.
(18) Central banks and other national bodies performing similar functions, other public bodies charged with or intervening in the management of the public debt, and multilateral development banks listed in Section 4.2 of Part 1 of Annex VI to Directive 2006/48/EC , the Bank for International Settlements and certain of the public sector entities defined in Article 4 ( 18 ) of Directive 2006/48/EC should be excluded from the scope of this Regulation in order to avoid limiting their powers to intervene to stabilise the market, if and when required.
Vnaprej bi bilo treba obravnavati vprašanje, ali bi bilo odgovorno dovoliti odstopanje od kliringa za osebe javnega sektorja v smislu člena 4(18) Direktive 2006/48/ES, ki so v lasti enot centralne ravni držav in zajete v izrecnih sporazumih o jamstvu, ki jih sklenejo te enote centralne ravni držav, kar je enakovredno prevzemu odgovornosti.
Consideration should be given in advance to the issue of whether it would be responsible to grant a derogation from clearing to public sector entities within the meaning of Article 4(18) of Directive 2006/48/EC which are owned by central governments and are covered by an explicit guarantee arrangement entered into by that central government which is equivalent to assumption of liability.
(19) Ker vsi udeleženci na trgu, za katere velja obveznost kliringa, ne morejo postati klirinški člani CCP (ali stranke klirinških članov), morajo imeti možnost, da do CCP dostopajo kot stranke ali prek investicijskih podjetij ali kreditnih institucij, ki so same stranke.
(19) As not all market participants that are subject to the clearing obligation are able to become clearing members of the CCP (or clients of clearing members) , they should have the possibility to access CCPs as clients or through investment firms or credit institutions that are themselves clients .
(20) Uvedba obveznosti kliringa skupaj s postopkom določanja, katere CCP se lahko uporabljajo za namene te obveznosti, lahko privede do nenamernega izkrivljanja konkurence na trgu izvedenih finančnih instrumentov OTC.
(20) The introduction of a clearing obligation along with a process to establish which CCPs can be used for the purpose of that obligation may lead to unintended competitive distortions of the OTC derivatives market.
CCP lahko na primer zavrne kliring transakcij, izvedenih na določenih mestih trgovanja, ker je CCP v lasti konkurenčnega mesta trgovanja.
For example, a CCP could refuse to clear transactions executed on certain trading venues because the CCP is owned by a competing trading venue.
Da bi se izognili takšni diskriminatorni praksi, morajo CCP sprejeti kliring transakcij, ki se izvajajo na različnih mestih, če so ta mesta v skladu z operativnimi in tehničnimi zahtevami CCP , brez sklicevanja na pogodbene dokumente, na podlagi katerih so stranke sklenile zadevno transakcijo z izvedenimi finančnimi instrumenti OTC, pod pogojem, da so dokumenti v skladu s tržnimi standardi.
In order to avoid such discriminatory practices, CCPs should clear transactions executed in different venues to the extent that those venues comply with the operational and technical requirements established by the CCP , without reference to the contract documents on the basis of which the parties concluded the relevant OTC derivatives transaction, provided that the documents are consistent with market standards .
Na splošno bi morala Komisija še naprej natančno spremljati razvoj trga izvedenih finančnih instrumentov OTC in po potrebi posredovati, da se prepreči izkrivljanje konkurence na notranjem trgu.
Generally, the Commission should continue to monitor closely the evolution of the OTC derivatives market and should, where necessary, intervene in order to prevent such competitive distortions from occurring in the internal market.
(21) Za določitev ustreznih razredov izvedenih finančnih instrumentov OTC, za katere mora veljati obveznost kliringa, pragov in sistemsko pomembnih nefinančnih nasprotnih strank so potrebni zanesljivi podatki.
(21) In order to identify the relevant classes of OTC derivatives that should be subject to the clearing obligation, the thresholds and systemically relevant non-financial counterparties, reliable data is needed.
Zato je iz regulativnih razlogov pomembno, da se na ravni Unije vzpostavi enotna zahteva za sporočanje podatkov o izvedenih finančnih instrumentih OTC.
Therefore, for regulatory purposes, it is important that a uniform OTC derivatives data reporting requirement is established at Union level.
Poleg tega je potrebna obveznost naknadnega poročanja v čim večjem obsegu za finančne in nefinančne nasprotne stranke, ki presegajo prag, da bi organu ESMA zagotovili primerljive podatke.
Moreover, a retrospective reporting obligation is needed, to the largest possible extent, for both financial counterparties and non-financial counterparties over the threshold, in order to provide ESMA with comparative data.
Če tako naknadno poročanje ni uresničljivo za noben razred izvedenih finančnih instrumentov OTC, je treba zadevnemu repozitoriju sklenjenih poslov posredovati ustrezno utemeljitev.
If such retrospective reporting is not feasible for any classes of OTC derivatives , an appropriate justification should be provided to the respective trade repository.
(22) Pomembno je, da udeleženci na trgu o vseh podrobnostih v zvezi s pogodbami o izvedenih finančnih instrumentih OTC, ki so jih sklenili, poročajo v repozitorije sklenjenih poslov.
(22) It is important that market participants report all details regarding OTC derivative contracts they have entered into to trade repositories.
Posledično se informacije o inherentnih tveganjih trgov izvedenih finančnih instrumentov OTC centralno shranijo in so zlahka dostopne organu ESMA, ustreznim pristojnim organom in ustreznim centralnim bankam Evropskega sistema centralnih bank (ESCB).
As a result, information on the risks inherent in OTC derivatives markets will be centrally stored and easily accessible to ESMA, the relevant competent authorities and the relevant central banks of the European System of Central Banks (ESCB).
Komisija in organ ESMA morata pretehtati razširitev uporabe obveznosti poročanja na vstavljene izvedene finančne instrumente.
The Commission and ESMA should consider extending the applicability of the reporting obligation to embedded derivatives.
(22a) Za institucije za poklicno pokojninsko zavarovanje, kot so opredeljene v členu 6(a) Direktive 2003/41/ES, ali ureditve, ki ponujajo podobno raven zmanjševanja tveganja in jih nacionalna zakonodaja priznava za namene pokojninskega zavarovanja z uporabo pogodb o izvedenih finančnih instrumentih, ki objektivno merljivo zmanjšujejo tveganje, neposredno povezano s solventnostjo institucije, ki upravlja pokojninski načrt, bi morale veljati določbe za dvostransko zavarovanje, kot je določeno v tej uredbi, ki bo revidirana leta 2014.
(22a) Institutions for o ccupational r etirement p rovision as defined in Article 6(a) of Directive 2003/41/EC or arrangements offering similar level of risk mitigation and recognised under national law for the purpose of retirement provision using derivative contracts that are objectively measurable as reducing risks directly related to the solvency of the institution that operate a pension scheme should be subject to the provisions for bilateral collateralisation as set out in this Regulation to be reviewed in 2014 .
(23) Da bi omogočili celosten pregled trga in za ocenjevanje sistemskega tveganja , je treba v repozitorije sklenjenih poslov poročati o pogodbah, pri katerih je bil opravljen kliring, in o pogodbah, pri katerih kliring ni bil opravljen.
(23) In order to allow for a comprehensive overview of the market and for assessing systemic risk , both cleared and non-cleared contracts should be reported to trade repositories.
(23a) Organom ESMA, EIOPA in EBA bi bilo treba zagotoviti ustrezna sredstva, da lahko učinkovito opravljajo naloge, ki so jim dodeljene s to uredbo.
(23 a) ESMA, EIOPA and EBA should be provided with adequate resources in order to effectively perform the tasks they are given in this Regulation.
(24) Obveznost poročanja o vseh spremembah ali prenehanju pogodb mora veljati za prvotne nasprotne stranke teh pogodb in za vse druge subjekte, ki poročajo v imenu prvotnih nasprotnih strank.
(24) The obligation to report any amendment to or termination of a contract should apply to the original counterparties to that contract and to any other entities reporting on behalf of the original counterparties.
Nasprotna stranka ali njeni zaposleni, ki v skladu s to uredbo v imenu druge nasprotne stranke v repozitorij sklenjenih poslov poročajo o vseh podrobnostih pogodbe, ne sme kršiti nobene omejitve o razkritju.
A counterparty or its employees, who reports the full details of a contract to a trade repository on behalf of another counterparty in accordance with this Regulation should not be in breach of any restriction on disclosure.
(25) V zvezi z obveznostmi kliringa in poročanja morajo obstajati učinkovite, sorazmerne in odvračilne kazni.
(25) There should be effective, proportionate and dissuasive penalties with regard to the clearing and reporting obligations.
Države članice morajo te kazni izvrševati tako, da se ne zmanjša učinkovitost pravil.
Member States should enforce those penalties in a manner that does not reduce the effectiveness of those rules.
Države članice bi morale zagotoviti, da so naložene kazni javno razkrite ter da se redno objavljajo poročila o učinkovitosti veljavnih predpisov.
Member States should ensure that the penalties imposed are publicly disclosed and that assessment reports on the effectiveness of existing rules are published at regular intervals.
(26) Dovoljenje za CCP mora biti pogojeno z minimalnim začetnim kapitalom.
(26) Authorisation of a CCP should be conditional on a minimum amount of initial capital.
Kapital, zadržani dobiček in rezerve CCP morajo biti stalno sorazmerni z velikostjo in dejavnostjo CCP, da se zagotovi ustrezna kapitalizacija CCP za operativna ali preostala tveganja in da lahko CCP po potrebi urejeno preneha s poslovanjem ali ga prestrukturira.
Capital, together with retained earnings and reserves of a CCP, should be proportionate to the size and activity of the CCP at all times in order to ensure that it is adequately capitalised against operational or residual risks and that it is able to conduct an orderly winding down or restructuring of its operations if necessary.
(27) Ker se s to uredbo za regulativne namene uvaja zakonska obveznost kliringa prek določenih CCP, je bistveno, da se zagotovijo varnost in stabilnost teh CCP ter njihova stalna skladnost s strogimi organizacijskimi, poslovnimi in bonitetnimi zahtevami, ki jih določa ta uredba.
(27) As this Regulation introduces a legal obligation to clear through specific CCPs for regulatory purposes, it is essential to ensure that those CCPs are safe and sound and comply at all times with the stringent organisational, business conduct, and prudential requirements established by this Regulation.
Za zagotavljanje enotne uporabe morajo te zahteve veljati za kliring vseh finančnih instrumentov, ki jih obravnavajo CCP.
In order to ensure uniform application of this Regulation, those requirements should apply to the clearing of all financial instruments in which the CCPs deal.
(27a) Ustrezni pristojni organ bi se moral zadovoljiti s tem, da ima CCP dovolj finančnih sredstev na voljo (mednje je vključen tudi minimalni prispevek iz lastnih sredstev CCP) v skladu s smernicami, ki jih izda organ ESMA.
(27 a) The relevant competent authority should satisfy itself that a CCP maintains sufficient available financial resources (which should include a minimum contribution of own funds of the CCP), in accordance with guidelines issued by ESMA.
(28) V regulativne namene in zaradi uskladitve bi bilo zato treba zagotoviti, da finančne nasprotne stranke uporabljajo le CCP, ki izpolnjujejo zahteve iz te uredbe.
(28) It is therefore necessary, for regulatory and harmonisation purposes, to ensure that financial counterparties only use CCPs which comply with the requirements laid down in this Regulation.
(29) Neposredna pravila v zvezi z izdajo dovoljenja CCP in nadzorom CCP so bistven dodatek k obveznosti kliringa izvedenih finančnih instrumentov OTC.
(29) Direct rules regarding the authorisation and supervision of CCPs are an essential corollary to the obligation to clear OTC derivatives.