natgillin/translations-raw huggingface dataset:
Člen 103 – odstavek 3
Article 103 – paragraph 3
(17a) Člen 103(3) se nadomesti z naslednjim:
(1 7 a) Article 103 (3) is replaced by the following :
Države članice sporočijo Evropskemu organu za vrednostne papirje in trge , Komisiji in drugim državam članicam imena organov, ki smejo prejemati podatke na podlagi odstavka 1."
Member States shall communicate to the European Securities and Markets Authority , to the Commission and to the other Member States the names of the authorities which may receive information pursuant to paragraph 1."
Člen 11 – točka 17 b (novo)
Article 11 – point 17 b (new)
Člen 103 – odstavek 7
Article 103 – paragraph 7
(17b) Člen 103(7) se nadomesti z:
( 17 b) Article 103(7) is replaced by the following:
Države članice sporočijo Evropskemu organu za vrednostne papirje in trge , Komisiji in drugim državam članicam imena organov, ki smejo prejemati podatke na podlagi odstavka 4."
Member States shall communicate to the European Securities and Markets Authority , to the Commission and to the other Member States the names of the authorities or bodies which may receive information pursuant to paragraph 4."
Člen 11 – točka 19
Article 11 – point 19
Člen 105 – prvi odstavek
Article 105 – first paragraph
Za zagotovitev enotne uporabe določb iz te direktive v zvezi z izmenjavo podatkov lahko Evropski organ za vrednostne papirje in trge pripravi osnutke tehničnih standardov, da se določijo pogoji uporabe v zvezi s postopki izmenjave podatkov med pristojnimi organi ter med pristojnimi organi in Evropskim organom za vrednostne papirje in trge.
In order to ensure uniform application of the provisions in this Directive concerning the exchange of information, the European Securities and Markets Authority may develop draft technical standards to determine the conditions of application with regard to the procedures for exchange of information between competent authorities and between the competent authorities and the European Securities and Markets Authority.
Za zagotovitev dosledne usklajenosti in enotne uporabe določb iz te direktive v zvezi z izmenjavo podatkov Evropski organ za vrednostne papirje in trge pripravi osnutke tehničnih standardov, da se določijo postopki izmenjave podatkov med pristojnimi organi ter med pristojnimi organi in Evropskim organom za vrednostne papirje in trge.
In order to ensure consistent harmonisation and uniform application of the provisions in this Directive concerning the exchange of information, the European Securities and Markets Authority shall develop draft technical standards to determine the procedures for exchange of information between competent authorities and between the competent authorities and the European Securities and Markets Authority.
Člen 11 – točka 20 a (novo)
Article 11 – point 20 a (new)
Poglavje XIII – naslov (pred členom 111)
Chapter XIII – title (before Article 111)
(20a) Naslov poglavja XIII se nadomesti z naslednjim:
(20a) The title of chapter XIII is replaced by the following:
„DELEGIRANI AKTI IN IZVRŠILNA PRISTOJNOST“
"DELEGATED ACTS AND POWERS OF EXECUTION"
Člen 11 – točka 20 b (novo)
Article 11 – point 20 b (new)
(20b) Člen 111 se nadomesti z naslednjim:
(20b) Article 111 is replaced by the following:
„Člen 111
" Article 111
Komisija sprejme tehnične spremembe te direktive na naslednjih področjih:
The Commission shall adopt technical amendments to this Directive in the following areas:
(a) razjasnitev opredelitev, da se zagotovi dosledna usklajenost in enotna uporaba te direktive v vsej Uniji ; ali
(a) clarification of the definitions in order to ensure consistent harmonisation and uniform application of this Directive throughout the Union ; or
(b) prilagoditev terminologije in oblikovanje okvira opredelitev v skladu s poznejšimi pravnimi akti o KNPVP in z njimi povezanimi zadevami.
(b) alignment of terminology and the framing of definitions in accordance with subsequent acts on UCITS and related matters.
Navedeni ukrepi [...] se sprejmejo z delegiranimi akti v skladu s členi 112, 112a in 112b .
Those measures [...] shall be adopted by means of delegated acts in accordance with Articles 112, 112a and 112b.
Osnutke delegiranih aktov pripravi Evropski organ za vrednostne papirje in trge.“
The draft of the delegated acts shall be drawn up by the European Securities and Markets Authority."
Člen 11 – točka (20 c) (novo)
Article 11 – point 20 c (new)
(20c) Člen 112 se nadomesti z naslednjim:
(20c) Article 112 is replaced by the following:
„Člen 112
"Article 112
Komisiji pomaga Evropski odbor za vrednostne papirje, ustanovljen s Sklepom Komisije 2001/528/ES.
The Commission shall be assisted by the European Securities Committee established by Commission Decision 2001/528/EC.
Pooblastila za sprejemanje delegiranih aktov iz členov 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 in 111 se na Komisijo prenesejo za nedoločen čas.
The power to adopt delegated acts referred to in Articles 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 and 111 shall be conferred on the Commission for an indeterminate period of time.
Pooblastilo za sprejemanje delegiranih aktov se Komisiji dodeli pod pogoji iz členov 112a in 112b.
The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 112a and 112b.
Rok iz člena 5(6) Sklepa 1999/468/ES je tri mesece.“
The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months."
Člen 11 – točka (20 d) (novo)
Article 11 – point 20 d (new)
(20d) Po členu 112 se vstavi naslednji člen:
(20d) The following article is inserted after Article 112:
„Člen 112a
"Article 112a
Prenos pooblastila iz členov 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 in 111 lahko prekličeta Evropski parlament ali Svet.
The delegation of power referred to in Articles 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 and 111 may be revoked by the European Parliament or by the Council.
Člen 11 – točka 20 e (novo)
Article 11 – point 20 e (new)
Člen 112 b (novo)
Article 112 b (new)
(20e) Za členom 112a se vstavi naslednji člen:
(20e) The following article is inserted after Article 112a:
„Člen 112b
"Article 112b
Sestavni deli ozadja
Elements of context
Finančna kriza je pokazala na pomanjkljivosti finančnih trgov na svetovni ravni.
The financial crisis has pointed out the shortcomings of the financial markets at a global level.
Kljub akcijskemu načrtu za finančne storitve, ki se je začel izvajati leta 2001 za oblikovanje resničnih enakih pogojev za finančne produkte v Evropski uniji, je kriza pokazala na razlike med finančno globalizacijo, finančnim povezovanjem EU in nacionalnim nadzorom.
In spite of the Financial Service Action Plan (FSAP), launched in 2001 in order to build a true level playing field for financial products in the European Union, the crisis has revealed that there is an asymmetry among financial globalisation, EU financial integration and national supervision.
Evropski finančni trgi se niso mogli izogniti okužbi in se spoprijemajo s tveganji, ki so jih povzročili moralni hazard, preobilni balon in, bolj na splošno, splošna prenapihnjenost, nepreglednost in zapletenost celotnega sistema.
European financial markets have not been able to avoid contagion and cope with risks induced by moral hazard, redundant bubbles as well as, more broadly, the general hypertrophy, opacity and complexity of the whole system.
Od začetka akcijskega načrta za finančne storitve je bil Evropski parlament osrednji akter pri izgradnji enotnega trga za finančne storitve, in je aktivno spodbujal skladnost, preglednost in pošteno konkurenco, pri čemer je zagotavljal varstvo investitorjev in potrošnikov.
Since the launching of the FSAP, the European Parliament has been a central actor in the construction of a single market for financial services, actively promoting harmonisation, transparency and fair competition, while ensuring investors and consumer protection.
Že dolgo pred nastopom finančne krize je Evropski parlament redno pozival h krepitvi resnično enakih pogojev za vse udeležence na evropski ravni in obenem opozarjal na pomembne pomanjkljivosti pri evropskem nadzoru nad vedno bolj integriranimi finančnimi trgi.
Already long before the financial crisis, the European Parliament has been calling regularly for the reinforcement of the true level playing field for all actors at the European level while pointing out important failures in Europe's supervision of ever more integrated financial.
Pri vseh poročilih Evropskega parlamenta je bila Evropska komisija pozvana, da analizira, na kakšen način se lahko doseže napredek na poti k bolj integrirani nadzorni strukturi, ob istočasnem prizadevanju za integriran enotni trg za finančne storitve.
In all European Parliament reports the European Commission was called upon to analyse how progress towards a more integrated supervisory structure could be achieved in parallel to striving for an integrated single market for financial services.
Ugotavlja se tudi potreba za učinkovit nadzor sistemskih in bonitetnih tveganj glavnih akterjev na trgu.
It also noted the need for effective oversight of the systemic and prudential risks of the top market players.
Predlog Evropske komisije za nov integriran nadzorni okvir
European Commission proposals for a new integrated supervisory framework
Na višku finančne krize je Evropska komisija sklenila, da skliče skupino strokovnjakov na visoki ravni, ki naj oblikuje predloge za okrepitev evropske nadzorne ureditve.
In the height of the financial crisis, the European Commission decided to convene a group of high level experts to make proposals to strengthen European supervisory arrangements.
De Larosièrova skupina je predstavila svoje poročilo februarja 2009, Komisija pa je 23. septembra 2009 predstavila konkretne zakonodajne predloge za:
The De Larosière group presented its report in February 2009 and on 23 September 2009 the Commission came forward with concrete legislative proposals which should have the aim to:
– oblikovanje mreže nacionalnih finančnih nadzornikov, ki bi sodelovala z novimi evropskimi nadzornimi organi,
– Establish a network of national financial supervisors working in tandem with a new European Supervisory Authorities (ESA),
– ustanovitev Evropskega odbora za sistemska tveganja (ESRB) za spremljanje in ocenjevanje morebitnih groženj finančni stabilnosti, ki jih povzročata makroekonomski razvoj in razvoj v celotnem finančnem sistemu.
– Establish a European Systemic Risk Board (ESRB), to monitor and assess potential threats to financial stability that arise from macro-economic developments and from developments within the financial system as a whole.
Vzporedno s predlogi za oblikovanje integrirane ravni nadzora tako na mikro ravni (z evropskimi nadzornimi organi) kot na makro ravni (skupaj s centralnimi bankami v Evropskem odboru za sistemska tveganja), je Evropska komisija predlagala prvi sveženj pregleda sektorskih direktiv, predvsem na področju bančništva in vrednostnih papirjev, da se jih prilagodi novi strukturi finančnega nadzora.
Parallel to the proposals to create an integrated level of supervision both at micro level with the ESAs and at macro level, involving central banks in the ESRB, the European Commission proposed a first package of revision of the sectoral directives, mainly in the field of banking and securities, in order to adapt them to the new financial supervisory architecture.
V nadaljevanju je naštetih enajst sektorskih direktiv, ki jih spreminja Omnibus I:
The eleven sectoral directives amended by Omnibus I are the following:
· 1998/26/ES: Direktiva o dokončnosti poravnave,
· 1998/26/EC: Settlement Finality Directive
· 2002/87/ES: Direktiva o finančnih konglomeratih,
· 2002/87/EC: Financial Conglomerates Directive
· 2003/6/ES: Direktiva o zlorabi trga,
· 2003/6/EC: Market Abuse Directive
· 2003/41/ES: Direktiva o institucijah za poklicno pokojninsko zavarovanje,
· 2003/41/EC: Institutions for Occupational Retirement Provisions Directive
· 2003/71/ES: Direktiva o prospektu,
· 2003/71/EC: Prospectus Directive
· 2004/39/ES: Direktiva o trgih finančnih instrumentov,
· 2004/39/EC: Markets in Financial Instruments Directive
· 2004/109/ES: Direktiva o preglednosti
· 2004/109/EC: Transparency Directive
· 2005/60/ES: Direktiva o preprečevanju pranja denarja,
· 2005/60/EC: Anti Money-Laundering Directive
· 2006/48/ES in 2006/49/ES: Direktiva o kapitalskih zahtevah,
· 2006/48/EC and 2006/49/EC: Capital Requirements Directive
· 2009/65/ES: direktiva o kolektivnih naložbenih podjemih za vlaganja v prenosljive vrednostne papirje.
· 2009/65/EC: Undertakings for Collective Investments in Transferable Securities Directive, UCITS
Dodatni Omnibus II se ukvarja predvsem s Solventnostjo II.
A further Omnibus II will deal mostly with Solvency II.
Oblikovanje nove strukture nadzora
Establishing the new supervisory architecture
Do teh predlogov je prišlo v svetovnih razmerah, ki so naklonjene novemu finančnemu sistemu na globalni ravni.
These proposals take place in a global context favourable to a new financial system at global level.
Skupina G20 se je tako zavezala, da bo „ukrepala za vzpostavitev močnejšega, globalno bolj usklajenega nadzornega in regulativnega okvira za finančni sektor prihodnosti, ki bo podpiral trajnostno svetovno rast ter služil potrebam podjetij in državljanov“
The G 20 thus took the engagement to "take action to build a stronger, more globally consistent, supervisory and regulatory framework for the future financial sector, which will support sustainable global growth and serve the needs of business and citizens"
Vrhunsko srečanje držav skupine G20 2. aprila 2009 v Londonu. .
G 20, London Summit, 2 April 2009 .
Odgovor Evropske unije na krizo mora biti ambiciozen.
The answer of the European Union to the crisis has to be ambitious.
Slabo delovanje finančnih storitev in njihov močan in nepravičen vpliv na realno gospodarstvo in javne finance nista vzdržna.
Financial services dysfunctions and its strong and unfair impact on real economy and public finance are not sustainable.
Evropska unija mora zagotoviti odgovore glede nadzora na mikro- in makrogospodarski ravni ter obravnavati tako posamezne primere kot globalno ureditev.
The European Union has to provide answers both on macro and micro supervisions and to deal with particular cases as well as with global regulation.
Novi okvir bi moral temeljiti na previdnostnem načelu, kot ga je opredelil Baselski odbor za bančni nadzor, urejati pa ne bi smel le spoštovanja zakonov, temveč tudi vidike varnosti in solventnosti.
The new framework should be based on the precautionary principle as defined by the Basel Committee on Banking Supervision, addressing not only compliance with laws but also safety and soundness concerns.
Presegati bi moral tveganja posamičnih finančnih institucij, s katerimi se spoprijemajo nacionalni nadzorniki, in obravnavati čezmejna in sistemska tveganja na evropski ravni ter sodelovati pri sistemskih tveganjih na mednarodni ravni.
It should go beyond individual financial institutions risks tackled by national supervisors and address cross border and systemic risks at European level and cooperate on systemic risks at international level.
Odločen nadzor mora postati jedro evropskega pristopa do finančnih trgov, takšen neodvisen in odgovoren nadzor pa mora biti bolj dosleden.
A strong supervision has to become the core of the European approach towards financial markets, but this independent and accountable supervision needs better consistency.
Lizbonska pogodba je medtem zagotovila nova orodja za oblikovanje bolj povezanega, prožnega in stalnega pristopa pri regulaciji.
In the meantime, the Lisbon Treaty has provided with new tools to create a more integrated, flexible and continuous approach of regulation.
Da bi prilagodil svoj način regulacije novim izzivom finančnega nadzora bi moral zakonodajalec v celoti uporabljati zlasti člen 290 Pogodbe, ki omogoča prenos pristojnosti na Evropsko komisijo, in člen 291 Pogodbe, ki je namenjen izvedbenim aktom.
In particular, article 290 of the Treaty, allowing for delegation of power to the European Commission, and article 291 of the Treaty for implementing acts, should be fully used by the legislator to adapt its way to regulate to the new challenges of financial supervision.
To pa ne bi smelo pomeniti, da zakonodajalca opuščata svojo politično odgovornost.
However it should not mean that legislators will abandon their political responsibility.
Poročevalec bo predlagal spremembe omenjenih enajstih direktiv, da bi se te uskladile z Lizbonsko pogodbo, ki je začela veljati pred kratkim.
Your rapporteur will propose amendments to the eleven directives mentioned above in order to put them in line with the newly entered into force Lisbon Treaty.
Po njegovem mnenju bi bilo treba regulativni postopek s pregledom vključiti v prenos pooblastil na Evropsko komisijo v skladu s členom 290 Pogodbe.
In his view, the regulatory procedure with scrutiny should be transposed into delegation of powers to the European Commission pursuant Article 290 of the Treaty.
Da bi se kar najbolje izkoristile možnosti, ki jih ponuja Lizbonska pogodba, poročevalec predlaga, da se vsak prenos pooblastil prilagodi zahtevam direktiv, in sicer tako, da se vsakič izbere primerno obdobje za nadzor, predvidi preklic ali klavzula o časovni omejitvi veljavnosti, glede na rezultate, ki se jih želi doseči.
In order to use at best the new possibility offered by the Lisbon Treaty, your rapporteur propose to adapt each delegation of power to the requirements of the directives by choosing each time the appropriate length of time for scrutiny, foreseeing revocation or sunset clause depending of the results to be achieved.
Tehnični standardi
Technical standards
Predlog Komisije Omnibus I predlaga uporabo tehničnih standardov kot dopolnilnih orodij, ki so jih razvili organi in jih je potrdila Evropska komisija.
The Commission proposal Omnibus I propose to use technical standards, developed by the authorities and endorsed by the European Commission, as supplementary tools.
Iz osnutka predloga Evropske komisije je razvidno, naj bi vprašanja tehničnih standardov sledila štirim načelom na visoki ravni:
In the draft proposal of the European Commission, the matters for technical standards are said to follow four high level principles:
- Tehnična vprašanja: na tehničnih področjih, kjer bi standarde morali razviti nadzorni strokovnjaki;
- Technical issues: in technical areas were standards should be developed by supervisory experts;
- praktična vprašanja/postopki sodelovanja: za praktične vidike nadzora, kot je izmenjava informacij;
- -Practical issues / cooperation procedures: for practical aspects of supervision such as exchange of information;
- Prožnost: kjer je pomembno, da se omogoči prilagodljiv odziv na razvoj trga;
- Flexibility: where it is important to allow for a flexible answer to market developments;
- potrebnost, kadar so potrebna podrobna, tehnična in usklajena pravila za zagotavljanje učinkovitosti in celovitosti trga.
- Necessity when detailed, technical and consistent rules are needed in order to ensure market efficiency and integrity.
Področje uporabe in obseg tehničnih standardov sta posebej zapletena in raznolika.
The scope and extent of technical standards are particularly complex and heterogeneous.
Načeli potrebnosti in prilagodljivosti sta zelo odprti in bi lahko privedli do ostrih političnih odločitev.
The necessity and flexibility principles are very open and could lead to drastic political choices.
Zato vaš poročevalec obžaluje, da Evropska komisija ni predvidela opredelitve ali klasifikacije tehničnih standardov v uredbah, s katerimi so bili organi ustanovljeni, saj bi to olajšalo odločitev v sektorskih direktivah.
Your rapporteur therefore regrets that the European Commission did not foresee a definition or a classification of technical standards in the regulations setting up the authorities as it would have eased the choice in the sectoral directives.
Vaš poročevalec meni, da sta glavna cilja tehničnih standardov dosledna uskladitev finančne ureditve in njena dosledna uporaba prek nadzornih pristopov in praks.
Your rapporteur is of the opinion that technical standards main objectives are a consistent harmonisation of financial regulation and its consistent application through supervisory approaches and practices.
Predpisi o tehničnem nadzoru so potrebna orodja za doseganje usklajenega evropskega nadzora.
Technical supervisory rules are necessary tools to reach harmonisation of European supervision.
Uskladitev in skupno izvajanje sta dokončna cilja, uporaba pa ostaja pot za dosego tega skupnega cilja.
Harmonisation and common implementation shall be the ultimate objectives, application remaining the way to reach this common objective.
Vaš poročevalec zato podpira dvojno uporabo in kontrolo tehničnih standardov in se ne osredotoča na tehnične vidike standardov, ampak raje na njihov namen in uporabo.
Your rapporteur therefore favours a twofold use and control of technical standards not focusing on technical aspects of standards but rather on their aim and use.
Če je namen teh standardov uskladiti ustanovne vidike skupnega pravilnika za nadzornika, meni, da je glavna vloga evropskega nadzornega organa zagotoviti strokovno znanje, potrebno za zagotovitev:
When these standards aim to harmonise constituting aspects of a common rule book for supervisor, he considers that the main role of ESAs is to provide expertise needed to grant:
- metodoloških, kvantitativnih ali specializiranih meril za dopolnitev, posodobitev in zagotavljanje usklajene opredelitve nekaterih pravil, kakor so opredeljena v zakonodajnih besedilih,
- methodological, quantitative or specialised criteria in order to complement, update and ensure harmonised definition of certain rules as defined in legislative texts,
- natančnih skupnih elementov za usklajeno poročanje in razkritje na drugi stopnji,
- detailed common elements for harmonised reporting and disclosure at level 2,
- skupnega in skladnega nadzornega pristopa za podporo, posodobitev in zagotovitev učinkovitih postopkov sodelovanja, vključno z oceno tveganja, ki jo izdelajo nadzorni organi, in izmenjavo informacij na drugi stopnji.
- a common and consistent supervisory approach to support, update and ensure effective cooperation processes, including supervisory risk assessment and information sharing at level 2.
Tovrstni tehnični standardi morajo dodatno razvijati in natančno opredeljevati pogoje za dosledno uskladitev in enotno uporabo pravil, vključenih v osnovne instrumente, ki sta jih sprejela Evropski parlament in Svet, in dopolnjujejo ali spreminjajo nekatere nebistvene elemente zakonodajnega akta.
This kind of technical standards should further develop, specify and determine the conditions for consistent harmonisation and uniform application of the rules included in basic instruments adopted by the European Parliament and the Council, supplementing or amending certain non-essential elements of the legislative act.
Treba jih je sprejeti v skladu s členom 290 kot delegirane akte (druga stopnja v skladu z Lamfalussyjevo finančno strukturo), da bi zagotovili njihovo obvezujočo naravo.
They should be adopted, pursuant Article 290, as Delegated Acts (level 2 according to Lamfalussy financial architecture) to ensure their binding nature.
Postopek nadzora in kontrole tehničnih standardov bi zato bil močnejši ter vključeval Evropski parlament in Svet in dopuščal dovolj časa za ustrezno izvajanje kontrole nad prenosom pooblastil.
The procedure of scrutiny and control of technical standards would consequently be stronger and involve the European Parliament and the Council, leaving sufficient time to properly exercise control over the delegation of powers.
Evropska komisija ne bi mogla oblikovati in predlagati političnih odločitev, ampak bi lahko sozakonodajalcem predstavila nekaj možnosti.
The European Commission would not be in position to make and propose policy choices, but would be in position to present some options to the colegislators.
Komisiji bi seveda bilo omogočeno, da sprejme osnutke predlogov o evropskem nadzornem organu v celoti, deloma (z izbiro nekaterih tehničnih možnosti) ali sploh ne.
The Commission would indeed be allowed to take the draft proposals of the ESAs either in its entirety, partially (selecting some technical options) or not at all.