natgillin/translations-raw huggingface dataset:
„Med pregledom (poročil iz leta 1991) je bilo ministrstvu svetovano glede povabila na delovno kosilo, ki ga je prejelo od družbe ELAS.
"While the scrutiny (of the 1991 returns) was in progress, advice was submitted ... to the Secretary of State regarding an invitation to lunch received from the Society.
Iz dokumentov ni razvidno, da je vladni oddelek za zavarovalniško statistiko Ministrstvu za trgovino in industrijo v pismu Ransona z dne 15. junija poslalo revidirane številke in da je bilo pismo oblikovano na podlagi preteklih številk“ (pogl.
It does not appear from the files that GAD had passed to the DTI the revised figures as per Ranson's 15 June letter and the brief was probably prepared on the basis of the earlier figures."
„Sestanek, ki je potekal 19. maja 1992, je bil ... pomembna priložnost, da bi ugotovili, katere dodatne informacije so na voljo, in da bi obravnavali težave družbe ELAS.
"The meeting on 19 May 1992 was ... an important opportunity to get what further information was available and to face the Society's problems head on.
Žal se zdi, da je bilo malo težav razrešenih, čeprav je bilo družbi zastavljenih veliko vprašanj“ (pogl.
Regrettably it seems that although some issues were raised with the company, little if anything was resolved."
„Po poročilu o pregledu iz leta 1991 je najverjetneje zaradi zamenjave osebja v vladnem oddelku za zavarovalniško statistiko in na Ministrstvu za trgovino in industrijo izginila splošna zaskrbljenost glede družbe ELAS, zamrla pa so tudi posebna vprašanja, ki so se pojavila.
" Possibly due to the changes of staff at GAD and the DTI after the 1991 scrutiny report, it appears that the general concern about the Society and the specific questions raised ... were allowed to evaporate .
Postopek je bil dolg.
The process was lengthy.
Kakovost odgovorov vladnega oddelka za zavarovalniško statistiko je bila slaba, pisma pa so bila neinformativna.
The quality of GAD's response to queries was poor, and the letters uninformative .
Odločitev, da se novih vprašanj ne zastavlja več, ampak se prihodnost usmeri v naslednje leto, je izražala prejšnjo prakso.
The decision to ask no further questions but instead to look ahead to the next year, reflected previous practice.
Rezultat tega je bilo neuspešno pridobivanje celotnega pregleda nad položajem družbe ELAS“ (pogl.
But it resulted in failure to obtain a full account of the Society's position."
„Označevanje družbe ELAS kot edinstvene se v regulativnih dokumentih redno pojavlja, manjka pa analiza obsega, v katerem bi se to lahko izkazalo kot ovira za učinkovito ureditev, in če to drži, kakšne spremembe regulativnega sistema so potrebne ...
" The labelling of the Society as unique appears frequently within the regulatory papers , but what is absent is any analysis of the extent to which this might prove a barrier to effective regulation and, if so, what changes to the current regulatory system might be needed ...
Vladni oddelek za zavarovalniško statistiko ter Ministrstvo za trgovino in industrijo kljub terminalnim bonusom, osnovi vrednotenja in novim pritiskom za posel teh vprašanj nista učinkovito obravnavala ali razrešila.
Despite terminal bonuses, the valuation basis and new business strain, none of these issues was effectively dealt with or resolved by GAD or DTI.
Postopek pregleda poročil iz leta 1991 navaja, da brez izrecnega vodenja vladnega oddelka za zavarovalniško statistiko zakonodajalci niso imeli zadostnih informacij o družbi ELAS, ki bi omogočile natančnejšo oceno finančnega položaja družbe ELAS.
The scrutiny process for the 1991 returns indicates that, without explicit guidance from GAD, the regulators did not have the depth of knowledge about the Society that would have enabled them to make a more accurate assessment of the Society's financial strength.
Vladni oddelek za zavarovalniško statistiko ni predložil natančne razlage več zastavljenih vprašanj“ (pogl.
GAD did not provide detailed explanations of many of the issues raised ."
„Takojšnjega regulativnega odgovora na poročilo družbe ELAS o preiskavi vladnega oddelka za zavarovalniško statistiko (o razdeljevanju bonusov) ni bilo.
"There was no immediate regulatory response to the Society's return to the GAD survey (on bonus distribution) .
Nemogoče je ugotoviti, kaj je nastalo iz enigmatične prve točke, da je bila pozornost namenjena ... predvidenim trendom glede deležev sredstev“ (pogl.
It is not possible to say what was made of the enigmatic first point, that "regard was had ... to projected trends in asset shares."
„Leta 1993 je družba prejela oceno imenovanega aktuarja od družbe Standard & Poor's za odlično sposobnost izplačevanja zahtevkov“ (pogl.
"In late 1993, the company received an AA rating from Standard & Poor's for its excellent claims paying ability.”
„Poročilo družbe ELAS glede preiskave o bonusih je sprožilo analitično revizijo.
"The Society's return to the bonus survey called for analytical review.
Poročilo ni bilo razumljivo, sklicevanje na prihodnje trende glede deležev sredstev pa je jasno zahtevalo preiskavo.
It was not self-explanatory and the reference to future trends in asset shares clearly required investigation.
Predloženih informacij ... ni bilo mogoče urediti z odgovori na metodologijo o deležih sredstev in ciklom izravnave, razen na podlagi dejstva, da obdobje ni bilo običajno.
The information provided ... could not be reconciled with the replies on asset share methodology and the smoothing cycle, except on the basis that the period had not been normal.
„Pomanjkanje odziva na predložene informacije o zajamčenih rentah in rešitev sta bili veliki napaki.
"The failure to respond to the information tendered about annuity guarantees and the proposed solution was a serious error.
Odgovori na preiskavo o bonusih so pokazali, da zavarovanci niso dobili nobenih posebnih informacij o mogočih pogostih spremembah ravni končnih bonusov. ...
The bonus survey replies showed that no specific information was given to policyholders on the likely frequency of changes to final bonus rates. ...
Pomanjkanje obveščanja o težavi nizkih obrestnih mer in povečanju končnega bonusa na tej stopnji ter preiskovanja Ransonovega opisa pristopa družbe ELAS, ki je bil popačen in nejasen, je povzročilo, da zakonodajalci niso imeli vpogleda v vprašanje zajamčene rente, dokler se ni leta 1998 pojavila v javnosti“ (pogl.
Failure to relate the problem of low interest rates and the increase in final bonus at this stage and to explore Ranson's description of the Society's approach, however garbled and obscure, resulted in regulators having no insight into the annuity guarantee issue until it was disclosed publicly in 1998."
„Zdi se, da Ministrstvo za trgovino in industrijo ni imelo zadostnih notranjih ali zunanjih virov informacij o družbi ELAS, da bi se odzvalo na informacije o obstoju in pomembnosti takšnih zajamčenih rent.
"It appears that DTI did not have sufficient sources of information, internal or external to the Society, to respond to the information that such annuity guarantees existed and were becoming valuable.
Ministrstvo za trgovino in industrijo kopije dokumenta izvršnega odbora iz decembra ni prejelo do leta 1998, tj. malo po tem, ko se je pojavilo vprašanje zajamčenih rent ...
DTI did not receive a copy of the December Board paper until late 1998 well after the GAR issue had emerged ...
Splošno sprejetje stališča družbe ELAS o zajamčenih rentah kot prodajnem vprašanju, ki bi moralo postavljati bonitetna vprašanja, izraža premajhno odločnost, za katero ni moglo biti upravičenosti pri informacijah, dostopnih zakonodajalcu za bonitetne zadeve in vladnemu oddelku za zavarovalniško statistiko“ (pogl.
Casual acceptance of the Society's position on guarantees as a selling issue, and not one raising prudential issues, reflects complacency for which there could be no justification on information available to the prudential regulator and GAD."
16–134 in 135).
(Ch.16-134 and135)
„Če vladni oddelek za zavarovalniško statistiko ne opozori na težave, Ministrstvo za trgovino in industrijo ne ukrepa “ (pogl.
" If GAD did not raise it as an area of concern, DTI would not be concerned " (Ch.16-166)
O teh vprašanjih se ni razpravljalo v celoti, prav tako pa se niso razrešila.
The issues had not been debated fully or resolved.
Določitev obrestne mere na 10 % pri negativnem donosu naložb 4,2 % skupaj s pomanjkljivostmi pri vrednotenju bi morala zakonodajalce spodbuditi, da preverijo finančni položaj družbe ELAS.
The declaration of a growth rate of 10% as against a negative investment return of 4.2% combined with the weakness of the valuation should have caused the regulators to dig deeper into the Society's financial health .
Zakonodajalci so bili spet zadovoljni s položajem družbe (ki se je kazal v tem, da ... je bila ocena zmanjšana na 4, kar pomeni, da ni bilo zahteve po koncu pregleda prej kot v devetih mesecih) in ugotovili le, da je občutljiva“ (pogl.
Once again, other than to note that the Society was vulnerable, the regulators seemed complacent about its position (reflected in ... being reduced to a rating of 4, which meant that there would be no requirement for scrutiny to be completed earlier than within 9 months)".
16–191 in 192).
(Ch.16-191 and192)
„Izvršilni organ nacionalne zdravstvene službe je 17. novembra 1997 pisal Ministrstvu za trgovino in industrijo glede tega, ali je družba ELAS primerna, da postane ponudnica dodatnih prostovoljnih prispevkov.
" On 17 November 1997, the National Health Service executive wrote to DTI asking about the suitability of the Society to be their AVC provider .
Notranji dopis o zahtevi navaja, da je bilo kritje zahtevane najnižje stopnje družbe ELAS za donos iz leta 1996 2,53x in 2,07x brez implicitne postavke.
An internal memo about the request noted that the Society's RMM cover for the 1996 returns was 2.53x and 2.07x without the implicit item.
V ročno napisanem sporočilu ... je nadzornik ugotovil, da so se sklicevali na močno kritje minimalnega kapitala druge dobro poznane družbe v odgovor na podobno nedavno zahtevo, vendar kritje družbe ELAS ni bilo dobro.
In a handwritten note ... the line supervisor noted that they had referred to the strong solvency cover of another well-known company in reply to a similar recent request but that the Society's cover “isn't that hot”.
Pri obravnavi ustreznega odziva odgovor nacionalne zdravstvene službe z dne 26. novembra 1997 navaja, da je bila na podlagi donosa iz leta 1996 družba finančno trdna.
Having considered the appropriate response , the reply to the NHS, dated 26 November 1997, stated that, based upon the 1996 returns: “we would say that the company is financially sound.
Pomembnih zadev materialne narave, ki se nanašajo na ureditev družbe ELAS ali njenih podružnic s strani Ministrstva za trgovino in industrijo, ni.
There are no outstanding issues of a material nature pertaining to the DTI's regulation of [the Society or its subsidiaries].”
Ni razloga, da ta izjava ne bi bila iskrena, jasno pa je, da se je odgovor obravnaval v manjši meri, vendar je kot iskrena ocena izražal slabo razumevanje dejanskega finančnega položaja družbe ELAS s strani Ministrstva za trgovino in industrijo novembra 1997“ (pogl.
There is no reason to view this statement as other than honest and it is clear that some consideration was given to the reply but as an honest assessment it reflected the poor understanding of the realistic financial position of the Society that DTI had at November 1997 ."
„Poročilo o pregledu iz leta 1996 je prvo poročilo o pregledu, ki navaja, da je zaželeno, da družba ELAS zadrži več nastalega presežka z določanjem nižjih zajamčenih bonusov in ohrani znatna izplačila končnih bonusov, če niso bila izražena pričakovanja zavarovancev.
"The 1996 scrutiny report suggested, for the first time in a scrutiny report, that it would be “desirable” for the Society to hold back more of its emerging surplus by declaring lower guaranteed bonuses, while keeping up generous final bonus payouts, as long as expectations were not raised.
Tu se je izkazalo, da je razumevanje zakonskih zahtev nepopolno in da je pristop k oceni razumnih pričakovanj zavarovancev zelo ozek.
The picture that emerges is of a very incomplete understanding of the statutory requirement and a narrow approach to the assessment of PRE.
To je bilo prvo poročilo o pregledu s posebnih poglavjem, naslovljenim Razumna pričakovanja zavarovancev (v oddelku o bonusih).
This was the first scrutiny report to have a specific heading entitled PRE (within the bonus section).
Kljub temu se še vedno zdi, da sistema, s katerim bi se lahko dejansko ocenila razumna pričakovanja zavarovancev, ni bilo (niti ni bil v načrtu).
Despite this, there seems still to have been no system in place (nor any in contemplation) by which PRE might have been actively assessed.
Korespondenca, ki je sledila pregledu ..., kaže, da se je med tem, ko je vladni oddelek za zavarovalniško statistiko postajal vse bolj zaskrbljen zaradi občutljivosti, obvestil o bonusu in razumnih pričakovanj zavarovancev družbe ELAS ..., njegova pristojnost na tem področju omejila na pristojnost, na podlagi katere je poiskal in prejel zagotovilo družbe ELAS, da se zaveda težav“ (pogl.
The correspondence which followed the scrutiny ... appears ... to show that whilst GAD were becoming increasingly concerned about the Society's vulnerability, bonus notices and PRE ... they viewed their remit in this area as limited to one in which they sought and received reassurance from the Society that they were alive to the problems ."
16–247 in 248).
(Ch.16-247 and 248)
Januarja leta 1999 „je bilo premalo interesa za pozitivno ukrepanje in pripravljenosti na svetovanje ter opozarjanje o možnosti ukrepanja družbe ELAS, ki ne bi temeljila na pravnih sredstvih.
In January 1999 "there appears to have been a lack of enthusiasm for positive intervention, and preference for advice and warning of the possibility of action failing remedial steps by the Society.
V informativnem obvestilu za sestanek dne 15. decembra 1998 je bilo navedeno, da družba ne more določiti bonusa, na sestanku pa je bilo ugotovljeno, da se lahko v skladu z dobrim in bonitetnim upravljanjem takšna določitev prepreči.
The briefing note for the 15 December 1998 meeting had painted a picture of a company that could not afford to declare a bonus and it had been concluded at the meeting itself that there was power under the sound and prudent management umbrella to prevent such a declaration.
„Popustljive razlage Headdona o nekaj odstotnih točkah ni upošteval nihče razen najmlajši aktuar.
"(EL) Headdon's self-indulgent interpretation of “a few % points” was disregarded by all but the more junior of the actuaries involved.
Vladni oddelek za zavarovalniško statistiko je ugotovil, da ni mogoče sprejeti učinkovitih ukrepov“ (pogl.
GAD considered that no effective action could be taken."
„Zaradi velike pozornosti vprašanju o zajamčeni renti ni bilo poročila o pregledu donosa leta 1997, zato zakonodajalci decembra 1997 niso imeli novih informacij že od poročila iz leta 1996.
"Due to the explosion of the annuity guarantee issue there had been no scrutiny report on the 1997 returns and therefore the regulators had not had the benefit of such a report since the 1996 scrutiny report in December 1997.
Vladni oddelek za zavarovalniško statistiko je začetni pregled donosa iz leta 1998 končal 9. aprila 1999.
GAD completed the initial scrutiny of the 1998 return on 9 April 1999 ...
Organ za finančne storitve 1. februarja 1999 še vedno ni imel dodatnih informacij o zahtevani napovedi solventnosti in načrtih ukrepov ob nepredvidljivih dogodkih.
The FSA still lacked the further information about solvency projections and contingency plans requested ... on 1 February 1999.
Družba je bila 15. aprila pozvana, da jih predloži (ter kopijo končne pogodbe o pozavarovanju).
They chased the Society for these (and a copy of the finalised reinsurance treaty) on 15 April.
Popolno poročilo o pregledu z dne 20. maja 1999 zajema 23 strani, zadeva družbe ELAS pa je bila v njem ocenjena kot prednostna naloga 2.
The full scrutiny report, dated 20 May 1999, ran to some 23 pages and headlined the Society's priority rating as 2.
„Sorazmerno slaba odločnost poročila iz leta 1998 izraža obseg zaupanja v pogodbo o zavarovanju s strani vladnega oddelka za zavarovalniško statistiko in Organa za finančne storitve ter obseg pozornosti, namenjene solventnosti in ne dejanskemu stališču o dolgoročnem položaju družbe ELAS“ (pogl.
" The relative complacency of the1998 report reflects the extent of the reliance being placed upon the reinsurance treaty by both GAD and FSA, and the concentration of attention on regulatory solvency rather than any realistic view of the Society's long-term position ."
„Organ za finančne storitve je avgusta 1999 med čakanjem na sodbo višjega sodišča o zadevi pripravil oceno začetnega tveganja v družbi ELAS kot del pilotnega projekta za nov pristop k nadzoru, ki temelji na tveganju.
"In August 1999, while the outcome of the (High Court) case was awaited, FSA prepared an “initial risk assessment” of the Society as part of a pilot project for a new risk-based approached to supervision.
V njem je bila družba ELAS opredeljena kot visoko finančno tveganje zaradi stopnje zajamčenih prejemkov, nizkega kritja prostih sredstev in težav pri pridobivanju zunanjih finančnih sredstev.
In it the Society was classified as a “high financial risk” because of the level of guaranteed benefits, low free asset position and the difficulty of raising external finance.
c) Malomarnost zakonodajalcev
c) Negligence by Regulators
Toda ta informacija se ni zahtevala kot del poročil, družba ELAS pa ni bila pozvana, da informacije na tej stopnji predloži na drugačen način“ (leta 1990 – pogl.
But this information was not required as part of the returns, nor was the Society asked to provide it otherwise at this stage ." ( in 1990 - Ch.16-21 and 28)
Pickford (vladni oddelek za zavarovalniško statistiko) je dobil sporne informacije, ki so razkrile negotov položaj družbe ELAS in skrajne ukrepe, ki so se izvajali za ohranjanje dodeljevanja bonusov v letih, ko je imela družba velike izgube“.
Pickford (GAD) had been put in possession of critical information that disclosed the Society's precarious position and the extreme nature of the steps taken to maintain bonus allocation in a year of severe losses."
Toda „izkazalo se je, da je Pickford upošteval zahtevo Ransona, da dokumenta ne predloži Ministrstvu za trgovino in industrijo.
But "i t would appear that Pickford respected Ranson's request not to pass the papers to DTI.
V sporočilu brez datuma, namenjenemu Burtu, o pismu in njegovi vsebini Pickford ugotavlja: ‚ Menim, da dokumenta ni treba predložiti Ministrstvu za trgovino in industrijo, razen če ga pravočasno upravičuje položaj. ‘“ (pogl.
In an undated note to Burt about the letter and its contents, Pickford concluded that: “I don't think we need to show these to the DTI unless the situation in due course warrants it. ”
16–40 in 43).
(Ch.16-40 and 43)
Malomarno ravnanje je postalo očitno, ko „se je 26. julija, nedolgo po prejetju poročil iz leta 1990, Pickford (vladni oddelek za zavarovalniško statistiko) v pismu zahvalil Ransonu za dokumente, ki so zadevali razpravo na naslednjem sestanku o vprašanjih s tega splošnega področja, in zagotovil, da bodo na voljo ‚zelo omejenemu krogu ljudi‘. ...
Negligent behaviour appears evident when "o n 26 July, not long after the receipt by DTI of the 1990 returns, Pickford (GAD) wrote to Ranson thanking him for the papers, referring to discussions at the upcoming meeting about issues “in this general area” and assuring him that they would get "an extremely restricted circulation". ...
Pozneje je Pickford ugotovil, da je storil napako, ko je z Ransonom sklenil zasebni dogovor, saj je pri tem zanemaril svoje dolžnosti zakonodajalca“ (pogl.
Later Pickford acknowledged he was in error in allowing a private understanding with Ranson to cloud his duties to regulators .”
16–43 in 44).
(Ch.16-43 and 44)
Glede tega vprašanja lord Penrose meni, da „je vladni oddelek za zavarovalniško statistiko preiskovalcem povedal, da rutinska predložitev informacij, ki so ‚predvsem tehnične in aktuarske ter predložene vladnemu oddelku za zavarovalniško statistiko, Ministrstvu za trgovino in industrijo ni uveljavljena praksa in da zadevni dokumenti niso razkrili ničesar, kar bi povzročilo takojšnjo zaskrbljenost glede položaja solventnosti družbe ELAS.
On this issue Lord Penrose concludes saying that " GAD have told the inquiry that it was established practice for information that was “primarily technical and actuarial in nature and had been provided to GAD” not to be routinely passed to DTI, and that the papers in question revealed nothing of immediate concern as regards the Society's solvency position.
Vladni oddelek za zavarovalniško statistiko je tudi zavrnil njegovo stališče, da so dokumenti razkrili pomembne spremembe sistema bonusov družbe ELAS ...
GAD also appears to reject my view that the papers disclosed important changes to the Society's bonus system ...
Penrose ne sprejema stališča vladnega oddelka za zavarovalniško statistiko o vsebini ali pomenu dokumentov ali o razlogih, da jih niso predložili zakonodajalcem.
I do not accept GAD's view of the papers' contents or their significance, or the basis upon which they were withheld from the regulators .
Poročilo o pregledu iz leta 1999 je bilo Ministrstvu za trgovino in industrijo poslano 20. novembra 1991.
The 1990 scrutiny report was sent to DTI on 20 November 1991.
Zajema stran in pol, kar je bilo tipično v tem obdobju, vendar se zaradi zaskrbljenosti glede družbe ELAS zdi popolnoma neprimerno ...
At a page and a half it was typical of the period, but given the concerns existing at the time, it appears totally inadequate ...
Dokumenti, ki jih je Ranson predložil Pickfordu, so razkrili pristop k dodelitvi bonusov leta 1990, ki bi moral sprožiti resna vprašanja med zakonodajalci.
The papers which Ranson passed to Pickford disclosed an approach to the 1990 bonus allotment that should have raised serious questions amongst the regulators.
16–46, 47 in 52).
(Ch.16-46, 47 and 52)
„Roberts ( Ministrstvo za trgovino in industrijo) je 4. novembra 1992 dejal: „ To je skrb zbujajoče.
"Roberts (DTI) commented on 4 November 1992: “ This paints a worrying picture.
Prevelika razdelitev s strani družbe z (namerno) premajhnim kritjem zahtevanega najnižjega kapitala in (nadaljevanje) politike visoke izpostavljenosti zaradi lastniških instrumentov.
Over-distribution by a company with a (deliberately) short coverage of its RMM and a (continuing) policy of high equity exposure.
Menim, da moramo vladni oddelek za zavarovalniško statistiko zaprositi za boljšo oceno položaja in možnosti, ki so na voljo družbi v primeru nadaljevanja velikega padca na trgu ...
I think we should ask GAD for a better assessment of the position and of the options available to the company in the event of a significant further downturn in the market ...
„Prednostna ocena za regulativni donos družbe za leto 1992 se je ponovno dvignila na 3.
"The priority rating for the Society' regulatory returns for 1992 had again been 3.
Poročilo o pregledu za leto 1992 je bilo končano šele 28. marca 1994, zajemalo pa je le dve strani.
The scrutiny report for 1992 was not completed until 28 March 1994 and ran to only two pages.
Na splošno so bile točke ugodne“ (pogl.
In general the points were favourable."
„Zakonodajalci se niso odzvali na obstoj zajamčenih rent in na predlagano rešitev družbe ELAS, kar je bilo razkrito (čeprav omejeno) v poročilih in na sestanku, ki je potekal novembra 1993.
"The regulators failed to respond to the existence of the guaranteed annuity rates and the Society's proposed solution, as revealed (albeit opaquely) in the returns and at the November 1993 meeting.
V poročilu o pregledu za leto 1993 zadeva zajamčenih rent ni bila omenjena ...
Nowhere in the scrutiny report for 1993 was anything said about the annuity guarantee issue ...
Udeleženci niso pojasnili, zakaj niso opazili pomembnosti te zadeve.
There has been no explanation of the failure of those involved to note the importance of this issue ...