natgillin/translations-raw huggingface dataset:
Pristojni organ bi moral biti tudi dolžan organ ESMA obvestiti o taki odločitvi, tako da lahko slednji nemudoma obvesti pristojne organe drugih držav članic z mesti trgovanja, na katerih se trguje z istim instrumentom, uskladi sprejemanje ukrepov v teh državah članicah in jim po potrebi pomaga pri doseganju sporazuma ali pa sam sprejme odločitev v skladu s členom 19 Uredbe (EU) št. 1095/2010.
The competent authority should also be required to notify ESMA of such a decision so that ESMA can immediately inform the competent authorities of other Member States with venues which trade the same instrument, coordinate the taking of measures by those other Member States and, if necessary, assist them in reaching an agreement, or take a decision itself, in accordance with Article 19 of Regulation (EU) No 1095/2010.
Če neugoden dogodek ali razvoj dogodkov zajema več kot eno državo članico ali ima druge čezmejne učinke, denimo v primeru, ko je finančni instrument uvrščen v trgovanje na različnih mestih trgovanja v več državah članicah, je tesno posvetovanje in sodelovanje med pristojnimi organi bistvenega pomena.
Where an adverse event or development extends beyond one Member State or has other cross-border implications, for example if a financial instrument is admitted to trading on different trading venues in a number of different Member States, close consultation and cooperation between competent authorities is essential.
Organ ESMA bi moral imeti v takšnih razmerah ključno usklajevalno vlogo in
ESMA should perform a key coordination role in such a situation and
zagotavljati dosledno delovanje pristojnih organov.
try to ensure consistency between competent authorities.
Poleg tega bi morali biti pristojni organi pooblaščeni za sprejemanje ukrepov, če imajo interes posredovati.
In addition, competent authorities should have powers to take measures when they have an interest to intervene.
Moral bi
ESMA should
mnenja glede uporabe pooblastil za posredovanje.
to give opinions to competent authorities on the use of ▌powers of intervention.
Čeprav so pristojni organi navadno najprimernejši za spremljanje razmer na trgu in hitro odzivanje na neugoden dogodek ali razvoj dogodkov, bi moral biti tudi
While competent authorities will often be best placed to monitor and to react quickly to an adverse event or development, ESMA
, ustanovljenim z Uredbo (EU) št. 1092/2010 Evropskega parlamenta in Sveta z dne 24. novembra 2010 o makrobonitetnem nadzoru nad finančnim sistemom Evropske unije in ustanovitvi Evropskega odbora za sistemska tveganja
established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board
UL 331, 15.12.2010, str.
OJ 331, 15.12.2010, p.
in drugimi zadevnimi organi.
whenever possible, and other relevant authorities when
Pooblastila organa ESMA v skladu s to uredbo, da v izjemnih razmerah omeji prodajo na kratko in druge povezane dejavnosti, so oblikovana v skladu s pooblastili
The powers of ESMA under this Regulation in exceptional situations to restrict short selling and other related activities are conceived in accordance with the powers contained in
iz člena 9(5)
Article 9(5)
Pooblastila organa ESMA v izjemnih razmerah ne smejo posegati v njegova pooblastila v izrednih razmerah v skladu
The powers conferred on ESMA in exceptional situations should be without prejudice to the powers of ESMA in an emergency situation under
s členom 18
Article 18
Pooblaščen mora biti zlasti za sprejemanje posameznih sklepov, v skladu s katerimi morajo pristojni organi sprejeti ukrepe, ali posameznih sklepov, naslovljenih na udeležence na finančnem trgu na podlagi
In particular, ESMA should be able to adopt individual decisions requiring competent authorities to take measures or individual decisions addressed to financial market participants under
tega člena
that article
Sklicevanje na člena 18 in 38 Uredbe (EU) št. 1095/2010 je pojasnjevalnega značaja.
References to Articles 18 and 38 of Regulation (EU) No 1095/2010 are of declaratory nature.
Določbe veljajo tudi brez takega sklicevanja v tej uredbi.
The provisions apply even without such a reference in this Regulation.
Zaradi posebnih tveganj, ki lahko nastanejo pri poslih kreditnih zamenjav, morajo pristojni organi te transakcije skrbno spremljati.
Because of the specific risks which can arise from the use of credit default swaps, such transactions require close monitoring by competent authorities.
Pristojni organi bi morali biti zlasti pooblaščeni, da v izjemnih primerih od fizičnih ali pravnih oseb, ki izvedejo take posle, zahtevajo informacijo o namenu takšnega posla.
In particular, competent authorities should have the power in exceptional cases to require information from natural or legal persons entering into such transactions about the purpose for which the transaction is entered into.
Organu ESMA bi moralo biti dodeljeno splošno pooblastilo, da izvede preiskavo v zvezi z zadevo ali prakso, povezano s prodajo na kratko ali posli kreditnih zamenjav, da presodi, ali ta zadeva oziroma praksa morebiti ogroža finančno stabilnost ali tržno zaupanje.
ESMA should be given a general power to conduct an inquiry into an issue or practice relating to short selling or the use of credit default swaps to assess whether that issue or practice poses any potential threat to financial stability or to market confidence.
Če organ ESMA izvede tako preiskavo, bi moral objaviti poročilo z ugotovitvami.
ESMA should publish a report setting out its findings when it conducts such an inquiry.
Ker lahko nekateri ukrepi veljajo za fizične ali pravne osebe in dejavnosti zunaj Unije, je v določenih primerih potrebno sodelovanje med pristojnimi organi
As some measures may apply to natural or legal persons and actions outside the Union, it is necessary in certain situations that competent authorities
in organi v tretjih državah.
and authorities in third countries cooperate.
bi zato morali skleniti
should therefore enter into
z organi v tretjih državah.
with authorities in third countries.
Organ ESMA bi moral usklajevati oblikovanje takšnih
ESMA should co-ordinate the development of such cooperation
o sodelovanju in izmenjavo informacij, ki jih predložijo tretje države, med pristojnimi organi.
and the exchange between competent authorities of information received from third countries.
Ta uredba spoštuje temeljne pravice in upošteva načela, ki jih priznavata zlasti Pogodba o delovanju Evropske unije
This Regulation respects the fundamental rights and observes the principles recognised in particular in the Treaty on the Functioning of the European Union
zlasti pravico do varstva osebnih podatkov, priznano v členu 16
the right to the protection of personal data recognised in Article 16
Preglednost v zvezi z znatnimi neto kratkimi pozicijami, vključno z javnim razkritjem
In particular, transparency regarding significant net short positions, including public disclosure
ob preseganju določene mejne vrednosti
above a certain threshold
Takšna preglednost bo regulativnim organom omogočila, da spremljajo uporabo prodaje na kratko v povezavi z nezakonitimi strategijami in njihovim učinkom na pravilno delovanje trgov.
Such transparency will enable regulators to monitor the use of short selling in connection with abusive strategies and the implications on the well functioning of the markets.
Poleg tega lahko takšna preglednost pomaga preprečevati asimetrijo informacij in hkrati zagotavlja, da so vsi udeleženci na trgu ustrezno obveščeni o tem, v kolikšnem obsegu prodaja na kratko vpliva na cene.
In addition, such transparency may help avoiding information asymmetries, ensuring that all market participants are adequately informed about the extent to which short selling is affecting prices.
Vsaka izmenjava ali prenos informacij med pristojnimi organi bi moral biti v skladu s pravili o prenosu osebnih podatkov iz Direktive 95/46/ES Evropskega parlamenta in Sveta z dne 24. oktobra 1995 o varstvu posameznikov pri obdelavi osebnih podatkov in o prostem pretoku takih podatkov UL L 281, 23.11.1995, str.
Any exchange or transmission of information by competent authorities should be in accordance with the rules on the transfer of personal data as laid down in Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data OJ L 281, 23.11.1995, p.
Vsaka izmenjava ali prenos informacij s strani organa ESMA bi moral biti v skladu s pravili o prenosu osebnih podatkov iz Uredbe (ES) št. 45/2001 Evropskega parlamenta in Sveta z dne 18. decembra 2000 o varstvu posameznikov pri obdelavi osebnih podatkov v institucijah in organih
Any exchange or transmission of information by ESMA should be in accordance with the rules on the transfer of personal data as laid down in Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the
; ta pravila bi se morala dosledno uporabljati za obdelavo osebnih podatkov za namene te uredbe.
, which should be fully applicable to the processing of personal data for the purposes of this Regulation.
določiti pravila glede
Member States should lay down rules on
in kazni
and penalties
Temeljiti bi morali na smernicah, ki jih je sprejel organ ESMA za spodbujanje konvergence in medsektorske usklajenosti sistemov sankcij v finančnem sektorju.
They should be based on guidelines adopted by ESMA to promote convergence and cross-sector consistency of sanctioning regimes in the financial sector.
Ukrepe, potrebne za izvajanje te uredbe, bi bilo treba sprejeti v skladu
The measures necessary for the implementation of this Regulation should be adopted in accordance with
v skladu s členom 290
to adopt ▌acts in accordance with Article 290
Zlasti pomembno je, da Komisija med svojim pripravljalnim delom izvede ustrezna posvetovanja, po potrebi tudi s strokovnjaki ustreznih institucij, organov in agencij.
It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at the level of experts of the relevant institutions, authorities and agencies, where appropriate.
Komisija bi morala Evropskemu parlamentu in Svetu predložiti poročilo o primernosti predvidenih pragov za priglasitev in javno razkritje, o izvajanju omejitev in zahtev v zvezi s preglednostjo neto kratkih pozicij ter o smotrnosti kakšnih drugih omejitev ali pogojev v zvezi s prodajo na kratko in posli kreditnih zamenjav.
The Commission should submit a report to the European Parliament and the Council assessing the appropriateness of the reporting and public disclosure thresholds provided for, the operation of the restrictions and requirements related to the transparency of net short positions and whether any other restrictions or conditions on short selling or credit default swaps are appropriate.
Ker države članice ne morejo zadovoljivo doseči ciljev te uredbe,
Since the objectives of this Regulation cannot be sufficiently achieved by the Member States, although
cilje te uredbe mogoče bolje doseči na ravni Unije, ki lahko sprejme ukrepe v skladu z načelom subsidiarnosti iz člena 5 Pogodbe o Evropski uniji.
be better achieved at ▌Union level the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union.
Ker so nekatere države članice že uvedle omejitve prodaje na kratko in ker bi bilo treba sprejeti delegirane akte in zavezujoče tehnične standarde, preden bo mogoče smiselno uporabljati okvir, ki bo uveden, bi bilo treba predvideti dovolj dolgo
Since some Member States have already put in place restrictions on short selling and since delegated acts and binding technical standards are provided for which should be adopted before the framework to be introduced can be usefully applied, it is necessary to provide for a sufficient period of time
SPLOŠNE DOLOČBE Člen 1 Področje uporabe
GENERAL PROVISIONS Article 1 Scope
iz točk
referred to
(4) do (10) oddelka C Priloge I k Direktivi 2004/39/ES ▌o trgih finančnih instrumentov, ki so povezani s finančnim instrumentom iz
in Annex I Section C points (4) to (10) of Directive 2004/39/EC ▌ that relate to a financial instrument referred to in
dolžniške instrumente, ki jih izda država članica ali Unija, in izvedene finančne instrumente,
debt instruments issued by a Member State or the Union and derivatives
(4) do (10) oddelka C Priloge I k Direktivi 2004/39/ES, ki so povezani z dolžniškimi instrumenti, ki jih izda država članica ali Unija, ali
in Annex I Section C points (4) to (10) of Directive 2004/39/EC that relate
se nanje sklicujejo
or are referenced
Za finančne instrumente, kakor so opredeljeni v členu 2(1)(d), se uporabljajo členi 18 in 20 ter 23 do 30.
Articles 18, 20 and 23 to 30 shall apply to financial instruments as defined in Article 2(1)(d).
ali ga je uradno priznal kot primarnega trgovca oziroma je v njegovem imenu pridobil uradno priznanje ali dogovor, v skladu
issuer or who has been formally recognised as a primary dealer by or on behalf of a sovereign issuer and who, in accordance with
„centralna nasprotna stranka“ pomeni
‘central counterparty’ means
subjekt, ki ▌posreduje med nasprotnimi strankami pogodb, s katerimi se trguje na enem ali več finančnih trgih, ter postane kupec za vsakega prodajalca in prodajalec za vsakega kupca in je odgovoren za delovanje sistema kliringa;
entity that ▌interposes itself between the counterparties to the contracts traded within one or more financial markets, becoming the buyer to every seller and the seller to every buyer and which is responsible for the operation of a clearing system;
v primeru kreditnega dogodka v zvezi z ▌referenčnim subjektom ▌ali
other benefit in the case of
v primeru druge neizpolnitve obveznosti, povezane s
a credit event relating to that reference entity, and
v zvezi s kreditnimi institucijami pomeni matično državo članico v smislu člena 4(7) Direktive 2006/48/ES Evropskega parlamenta in Sveta z dne 14. junija 2006 o začetku opravljanja in opravljanju dejavnosti kreditnih institucij
in relation to a credit institution, the home Member State within the meaning of Article 4(7) of Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions
v zvezi z drugimi pravnimi osebami pomeni državo članico, v kateri ima oseba statutarni sedež, ali državo članico, v kateri ima glavni sedež, če nima statutarnega sedeža,
in relation to any other legal person, the Member State in which its registered office is situated or, if it has no registered office, the Member State in which its head office is situated;
v zvezi s fizičnimi osebami pomeni državo članico, v kateri ima oseba glavni sedež, ali državo članico, v kateri ima stalno prebivališče, če nima glavnega sedeža;
in relation to a natural person, the Member State in which his or her head office is situated or if he or she has no head office the Member State in which his or her permanent residence is situated;
„državni dolžniški instrument“ pomeni dolžniški instrument, ki ga izda
‘sovereign debt’ means a debt instrument issued by
„instrument zamenjave kreditnega tveganja državnih obveznic“ pomeni posel kreditne zamenjave, pri katerem se v primeru kreditnega dogodka ali neizpolnitve obveznosti v zvezi z izdajateljem državnega dolžniškega instrumenta izvede plačilo ali druga korist;
‘sovereign credit default swap’ means a credit default swap where a payment or other benefit will be paid in the case of a credit event or default relating to a sovereign issuer;
„izdajatelj državnega dolžniškega instrumenta“ pomeni katerega od naslednjih subjektov, ki izdajo dolžniški instrument:
‘sovereign issuer’ means any of the following that issues debt instruments:
državo članico, vključno z vsemi njenimi ministrstvi, ▌agencijami ali
a Member State including any ministry, ▌agency or
v primeru države članice s federativno ureditvijo katero koli posamezno federativno enoto,
in the case of a Member State that is a federal state, one of the members making up the federation,
pravno osebo s posebnim namenom listinjenja za več držav članic,
a special purpose vehicle for several Member States,
mednarodno finančno institucijo, ki jo ustanovita dve ali več držav članic za zbiranje financiranja in zagotavljanje finančne pomoči njenim članom, ki jih prizadenejo ali jim grozijo hude finančne težave, ali
an international financial institution established by two or more Member States, which has the purpose to mobilise funding and provide financial assistance to the benefit of its members that are experiencing or threatened by severe financing problems, or
Evropsko investicijsko banko;
the European Investment Bank;
„emisijski osnovni kapital“ v zvezi z družbo pomeni celoto navadnih in prednostnih delnic, ki jih izda družba, ne vključuje pa zamenljivih dolžniških vrednostnih papirjev;
‘issued share capital’ in relation to a company, means the total of ordinary and any preference shares issued by the company but does not include convertible debt securities;
izdajatelj državnega dolžniškega instrumenta in
a sovereign issuer
ki niso odplačani;
that has not been redeemed;
„lokalna družba“ pomeni družbo v smislu člena 2(1)(a) Direktive 2004/39/ES ▌;
‘local firm’ means a firm referred to in Article 2(1)(l) of Directive 2004/39/EC ▌;
vzdrževanja trga“
the activities of
objavlja jasne, istočasne dvosmerne kotacije podobne velikosti po konkurenčnih cenah, tako da je trgu redno in stalno zagotovljena likvidnost;
by posting firm, simultaneous two-way quotes of comparable size and at competitive prices, with the result of providing liquidity on a regular and ongoing basis to the market,
kot del svojega rednega poslovanja izpolnjuje naročila strank ali naročila, ki izhajajo iz zahtev strank za trgovanje;
as part of its usual business, by fulfilling orders initiated by clients or in response to clients' requests to trade,
varuje pozicije, ki nastanejo zaradi opravljanja nalog iz točk (i) in (ii).
by hedging positions arising from the fulfilment of tasks under points (i) and (ii);
„večstranski sistem trgovanja ▌“ pomeni večstranski sistem v smislu člena 4(1)(15) Direktive 2004/39/ES;
‘multilateral trading facility ▌’ means a multilateral system within the meaning of Article 4(1)(15) of Directive 2004/39/EC;
v zvezi z državnim dolžniškim instrumentom države članice
in relation to sovereign debt of a Member State
ali državnim dolžniškim instrumentom ene od federativnih enot v državi članici s federativno ureditvijo
, or, in the case of a Member State that is a federal state, to sovereign debt of a member making up the federation,
ali federativno državo
or a federal state
pomeni pristojni organ te države članice,
, the competent authority of that Member State,
v zvezi z državnim dolžniškim instrumentom mednarodne finančne institucije, ki jo ustanovita dve ali več držav članic za zbiranje financiranja in zagotavljanje finančne pomoči njenim članom, ki jih prizadenejo ali jim grozijo hude finančne težave, pomeni pristojni organ jurisdikcije, pod katero je ta mednarodna finančna institucija ustanovljena,
in relation to sovereign debt of an international financial institution established by two or more Member States, which has the purpose to mobilise funding and provide financial assistance to the benefit of its members that are experiencing or threatened by severe financing problems, the competent authority of the jurisdiction in which the international financial institution is established,
v zvezi s finančnimi instrumenti, ki niso instrumenti iz
a financial instrument other than an instrument referred to in
, pomeni pristojni organ za ta finančni instrument, kakor je opredeljen v členu 2(7) Uredbe Komisije (ES) št. 1287/2006
, the competent authority for that financial instrument as defined in Article 2(7) of Commission Regulation (EC) No 1287/2006
Uredba Komisije št. 1287/2006 z dne 10. avgusta 2006 o izvajanju Direktive 2004/39/ES Evropskega parlamenta in Sveta v zvezi z obveznostmi vodenja evidenc za investicijske družbe, poročanjem o transakcijah, tržno preglednostjo, sprejemanjem finančnih instrumentov v trgovanje in pojmi, opredeljenimi v navedeni direktivi (UL L 241, 2.9.2006, str.
Commission Regulation No 1287/2006 of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market transparency, admission of financial instruments to trading, and defined terms for the purpose of that Directive (OJ L 241, 2.9.2006, p.
in določen v skladu s poglavjem III navedene uredbe,
and determined in accordance with Chapter III of that regulation,
v zvezi s finančnim instrumentom, ki ni zajet v
in relation to a financial instrument that is not covered under
, pomeni pristojni organ države članice, v kateri je bil instrument prvič uvrščen v trgovanje na mestu trgovanja,
, the competent authority of the Member State in which the financial instrument was first admitted to trading on a trading venue,
v zvezi z dolžniškim instrumentom, ki ga izda Evropska investicijska banka, pomeni pristojni organ države članice, v kateri je sedež Evropske investicijske banke;
in relation to a debt instrument issued by the European Investment Bank, the competent authority of the Member State in which the European Investment Bank is located;
Ta opredelitev ne vključuje:
This definition does not include:
prodaje s strani ene ali druge stranke v okviru posla začasne prodaje, pri katerem ena stranka privoli, da bo drugi prodala vrednostni papir po dogovorjeni ceni, druga pa se zaveže, da ji bo vrednostni papir pozneje prodala po drugačni dogovorjeni ceni,
a sale by either party under a repurchase agreement where one party has agreed to sell the other a security at a specified price with a commitment from the other party to sell the security back at a later date at another specified price,
prenosa vrednostnih papirjev na podlagi dogovora o posojanju vrednostnih papirjev niti
a transfer of securities under a securities lending agreement, or
sklenitve standardizirane terminske pogodbe ali druge pogodbe o izvedenem finančnem instrumentu, pri kateri je dogovorjeno, da bodo vrednostni papirji prodani po dogovorjeni ceni nekoč v prihodnosti;
entering into a futures contract or other derivatives contract where it is agreed to sell securities at a specified price at a future date;
„mesto trgovanja“ pomeni regulirani trg ali
‘trading venue’ means a regulated market or a
večstranski sistem trgovanja
multilateral trading facility
v Uniji;
in the Union;
„promet“ delnice pomeni promet, kakor je opredeljen v členu 2(9) Uredbe (ES) št. 1287/2006.
‘turnover’ of a share, means turnover as defined in Article 2(9) of Regulation (EC) No 1287/2006.
je pooblaščena, da sprejme
shall be empowered to
delegirane akte v skladu s členom 42 ▌za podrobnejšo opredelitev pojmov iz odstavka 1, zlasti natančno opredelitev, kdaj se šteje, da fizična ali pravna oseba poseduje finančni instrument za namene opredelitve prodaje na kratko iz člena 1(r).
adopt ▌ delegated acts in accordance with Article 42 ▌ specifying the definitions laid down in paragraph 1, in particular specifying when a natural or legal person is considered to own a financial instrument for the purposes of the definition of short sale in paragraph 1(r).
V tej uredbi se za kratko pozicijo v emisijskem osnovnem kapitalu družbe ali izdanem državnem dolžniškem instrumentu
For the purposes of this Regulation, a position resulting from either of the following shall be considered a short position relating to the issued share capital of a company or issued sovereign debt of a
finančna ali pravna oseba v primeru padca cene ali vrednosti delnice ali dolžniškega instrumenta doseže finančno korist.
natural or legal person in the event of a decrease in the price or value of the share or debt instrument.