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  1. #313442

    (d) arbatráiste rialála a sheachaint agus coinníollacha comhionanna iomaíochta a chur chun cinn,

    (d) preventing regulatory arbitrage and promoting equal conditions of competition;

    Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC

  2. #314560

    (d) arbatráiste rialála a sheachaint agus coinníollacha comhionanna iomaíochta a chur chun cinn,

    (d) preventing regulatory arbitrage and promoting equal conditions of competition,

    Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC

  3. #315669

    (d) arbatráiste rialála a sheachaint agus coinníollacha comhionanna iomaíochta a chur chun cinn,

    (d) preventing regulatory arbitrage and promoting equal conditions of competition,

    Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC

  4. #1650686

    gan riosca arbatráiste rialála a chruthú;

    does not create a risk of regulatory arbitrage;

    Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps Text with EEA relevance

  5. #1657707

    nach gcruthóidh sí riosca arbatráiste rialála; agus

    does not create a risk of regulatory arbitrage, and

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  6. #1657733

    nach í an ghníomhaíocht faoi deara riosca arbatráiste rialála.

    does not create a risk of regulatory arbitrage.

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  7. #1661168

    ní chruthófar riosca arbatráiste rialála léi.

    create a risk of regulatory arbitrage.

    Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (Text with EEA relevance)

  8. #1775370

    cé acu a fhéadfadh nó nach bhféadfadh an chaoi a gcaitear le brainsí tríú tír faoin dlí náisiúnta a bheith ina shiocair le harbatráiste rialála;

    whether a different treatment of third-country branches under national law could result in regulatory arbitrage;

    Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures (Text with EEA relevance.)

  9. #1813819

    ní chruthófar riosca arbatráiste rialála léi.

    create a risk of regulatory arbitrage.

    Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) (Text with EEA relevance)

  10. #1822865

    nach gcruthóidh an fhionraí arbatráiste rialála.

    the suspension does not create any regulatory arbitrage.

    Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No?1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No?1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No?1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No?600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance)

  11. #1889463

    Ba cheart don údarás inniúil a áirithiú nach ndéanfar freaschur den sórt sin mar gheall ar bhreithnithe arbatráiste rialála.

    The competent authority should ensure that such reversals are not motivated by considerations of regulatory arbitrage.

    Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic

  12. #1925238

    Is é is aidhm don chéimniú isteach sin comhsheasmhacht idirnáisiúnta a áirithiú agus, ar an gcaoi sin, féidearthachtaí arbatráiste rialála a íoslaghdú.

    That phase-in aims at ensuring international consistency and thus at minimising possibilities for regulatory arbitrage.

    Commission Delegated Regulation (EU) 2021/236 of 21 December 2020 amending technical standards laid down in Delegated Regulation (EU) 2016/2251 as regards to the timing of when certain risk management procedures will start to apply for the purpose of the exchange of collateral (Text with EEA relevance)

  13. #2838513

    ní chruthófar riosca arbatráiste rialála leis.

    create a risk of regulatory arbitrage.

    Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (Text with EEA relevance)

  14. #583059

    D'fhonn saobhadh ar an margadh agus arbatráiste rialála a sheachaint, ba cheart go n-áiritheofaí le leis na híoscheanglais stuamachta, dá bhrí sin, comhchuibhiú uasta.

    In order to avoid market distortions and regulatory arbitrage, prudential minimum requirements should therefore ensure maximum harmonisation.

    Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

  15. #583070

    Áirithítear creat rialála stóinseach agus aonfhoirmeach leis an leabhar rialacha aonair lena n-éascaítear an feidhmiú an mhargaidh inmheánaigh agus lena gcuirtear cosc ar dheiseanna arbatráiste rialála.

    The single rulebook ensures a robust and uniform regulatory framework facilitating the functioning of the internal market and prevents regulatory arbitrage opportunities.

    Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

  16. #586578

    Ní úsáidfidh institiúidí an eisceacht seo go roghnaitheach ar mhaithe le ceanglais cistí dílse a bhaint amach nó ar mhaithe le arbatráiste rialála a stiúradh.

    Institutions shall not use this exception selectively with the purpose of achieving reduced own funds requirements or with the purpose of conducting regulatory arbitrage.

    Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

  17. #1657801

    nach gcruthófar leis an mbeart an baol d’arbatráiste rialála mar a dhéanfar é a thomhas i gcomhréir le mír 10(c) den Airteagal seo;

    does not create a risk of regulatory arbitrage as measured in accordance with paragraph 10(c) of this Article;

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  18. #1657820

    na cásanna ina bhféadfadh riosca arbatráiste rialála dá dtagraítear i mír 3(b) den Airteagal sin teacht chun cinn.

    the situations where a risk of regulatory arbitrage as referred to in paragraph 3(b) of this Article could arise.

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  19. #1908890

    Mar gheall ar an lánpháirtiú sin, is lú éifeachtúlacht a bheadh ag roinnt le hidirghabháil náisiúnta ar leithlis agus dhéanfaí margaí a ilroinnt dá bharr, agus tharlódh arbatráiste rialála agus saobhadh ar iomaíocht mar thoradh air sin.

    Because of that integration, isolated national intervention would be far less efficient and would lead to the fragmentation of markets, resulting in regulatory arbitrage and distortion of competition.

    Directive (EU) 2021/338 of the European Parliament and of the Council of 16 February 2021 amending Directive 2014/65/EU as regards information requirements, product governance and position limits, and Directives 2013/36/EU and (EU) 2019/878 as regards their application to investment firms, to help the recovery from the COVID-19 crisis (Text with EEA relevance)

  20. #2012015

    Ba cheart láimhseáil thiomnaithe ar SES a leagan amach chun cosc a chur ar úsáid a bheith á baint as SES chun críoch arbatráiste rialála.

    A dedicated prudential treatment of SES should be set out to prevent SES from being used for regulatory arbitrage purposes.

    Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021 amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis (Text with EEA relevance)

  21. #2305408

    Is féidir cosc a chur ar arbatráiste rialála trí shrian a chur le minicíocht na n-athruithe ar shuíomhanna idir úsáid K-NPR agus K-CMG.

    It is possible to prevent regulatory arbitrage by constraining the frequency of switching positions between the use of K-NPR and K-CMG.

    Commission Delegated Regulation (EU) 2022/244 of 24 September 2021 supplementing Regulation (EU) 2019/2033 of the European Parliament and of the Council with regard to regulatory technical standards specifying the amount of total margin for the calculation of the K-factor ‘clear margin given’ (K-CMG) (Text with EEA relevance)

  22. #2305409

    Bheadh ceanglas chun úsáid leanúnach a bhaint as ceann den dá mhodh le haghaidh deasc thrádála ar feadh 2 bhliain ar a laghad comhréireach chun aghaidh a thabhairt ar riosca an arbatráiste rialála.

    A requirement to make continuous use of one of the two methods for a trading desk for at least 2 years would be proportionate to address the risk of regulatory arbitrage.

    Commission Delegated Regulation (EU) 2022/244 of 24 September 2021 supplementing Regulation (EU) 2019/2033 of the European Parliament and of the Council with regard to regulatory technical standards specifying the amount of total margin for the calculation of the K-factor ‘clear margin given’ (K-CMG) (Text with EEA relevance)

  23. #3187601

    Mar sin féin, mar thoradh ar chineálacha éagsúla cur chuige rialála náisiúnta, is féidir arbatráiste rialála agus leibhéil éagsúla cosanta infheisteoirí a bheith ann, rud a chuireann bac ar bhunú margaidh inmheánaigh éifeachtúil le haghaidh tionscnamh iasachta ag CIManna.

    However, diverging national regulatory approaches can give rise to regulatory arbitrage and varying levels of investor protection, thereby hindering the establishment of an efficient internal market for loan origination by AIFs.

    Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024 amending Directives 2011/61/EU and 2009/65/EC as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depositary and custody services and loan origination by alternative investment funds

  24. #313245

    Chomh maith leis sin, ba cheart go ndéanfadh an tÚdarás arbatráiste rialála a chosc, cothromaíocht a ráthú agus comhordú maoirseachta idirnáisiúnta a neartú, ar mhaithe leis an ngeilleagar i gcoitinne, lena n-áirítear institiúidí airgeadais agus geallsealbhóirí, tomhaltóirí agus fostaithe eile.

    The Authority should also prevent regulatory arbitrage and guarantee a level playing field, and strengthen international supervisory coordination, for the benefit of the economy at large, including financial institutions and other stakeholders, consumers and employees.

    Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC

  25. #313311

    De réir mar a luaitear i dTuarascáil de Laroisière, "ní mór saobhadh san iomaíocht agus arbatráiste rialála a eascraíonn as cleachtais mhaoirseachta éagsúla a sheachaint, mar go bhféadfaidís an bonn a bhaint de chobhsaíocht airgeadais – inter alia trí spreagadh a thabhairt i leith gníomhaíochtaí airgeadais a aistriú go dtí tíortha ina bhfuil an mhaoirseacht lag.

    As the de Larosière Report states, "competition distortions and regulatory arbitrage stemming from different supervisory practices must be avoided, because they have the potential of undermining financial stability – inter alia by encouraging a shift of financial activity to countries with lax supervision.

    Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC

  26. #313496

    (b) rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, trína áirithiú go gcuirtear na gníomhartha de chuid an Aontais dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, trí arbatráiste rialála a chosc, idirghabháil a dhéanamh agus easaontais idir údaráis inniúla a réiteach, trí mhaoirseacht éifeachtach chomhsheasmhach na n-institiúidí airgeadais a áirithiú, trí fheidhmiú comhleanúnach coláistí maoirseoirí a áirithiú agus trí ghníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;

    (b) to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the acts referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial institutions, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;

    Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC

  27. #314342

    Chomh maith leis sin, ba cheart go ndéanfadh an tÚdarás arbatráiste rialála a chosc, cothromaíocht a ráthú agus comhordú maoirseachta idirnáisiúnta a neartú, ar mhaithe leis an ngeilleagar i gcoitinne, lena n-áirítear institiúidí airgeadais agus geallsealbhóirí, tomhaltóirí agus fostaithe eile.

    The Authority should also prevent regulatory arbitrage, guarantee a level playing field, and strengthen international supervisory coordination, for the benefit of the economy at large, including financial institutions and other stakeholders, consumers and employees.

    Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC

  28. #314423

    De réir mar a luaitear i dTuarascáil de Laroisière: "ní mór saobhadh san iomaíocht agus arbatráiste rialála a eascraíonn as cleachtais mhaoirseachta éagsúla a sheachaint, mar go bhféadfaidís an bonn a bhaint de chobhsaíocht airgeadais – inter alia trí spreagadh a thabhairt i leith gníomhaíochtaí airgeadais a aistriú go dtí tíortha ina bhfuil an mhaoirseacht lag.

    As the de Larosière Report states, "competition distortions and regulatory arbitrage stemming from different supervisory practices must be avoided, because they have the potential of undermining financial stability – inter alia by encouraging a shift of financial activity to countries with lax supervision.

    Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC

  29. #314614

    (b) rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, trína áirithiú go gcuirtear na gníomhartha dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, trí arbatráiste rialála a chosc, idirghabháil a dhéanamh agus easaontais idir údaráis inniúla a réiteach, trí mhaoirseacht éifeachtach chomhsheasmhach na n-institiúidí airgeadais a áirithiú, trí fheidhmiú comhleanúnach coláistí maoirseoirí a áirithiú agus trí ghníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;

    (b) to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the acts referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial institutions, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;

    Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC

  30. #315476

    Chomh maith leis sin, ba cheart go ndéanfadh an tÚdarás arbatráiste rialála a chosc agus ba cheart dó cothromaíocht a ráthú, agus comhordú maoirseachta idirnáisiúnta a neartú, ar mhaithe leis an ngeilleagar i gcoitinne, lena n-áirítear institiúidí airgeadais agus geallsealbhóirí, tomhaltóirí agus fostaithe eile.

    The Authority should also prevent regulatory arbitrage and guarantee a level playing field, and strengthen international supervisory coordination, for the benefit of the economy at large, including financial institutions and other stakeholders, consumers and employees.

    Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC

  31. #315544

    De réir mar a luaitear i dTuarascáil de Laroisière, "ní mór saobhadh san iomaíocht agus arbatráiste rialála a eascraíonn as cleachtais mhaoirseachta éagsúla a sheachaint, mar go bhféadfaidís an bonn a bhaint de chobhsaíocht airgeadais – inter alia trí spreagadh a thabhairt i leith gníomhaíochtaí airgeadais a aistriú go dtí tíortha ina bhfuil an mhaoirseacht lag.

    As the de Larosière Report states, "competition distortions and regulatory arbitrage stemming from different supervisory practices must be avoided, because they have the potential of undermining financial stability – inter alia by encouraging a shift of financial activity to countries with lax supervision.

    Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC

  32. #315724

    (b) rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, trína áirithiú go gcuirtear na gníomhartha de chuid an Aontais dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, trí arbatráiste rialála a chosc, idirghabháil a dhéanamh agus easaontais idir údaráis inniúla a réiteach, trí mhaoirseacht éifeachtach chomhsheasmhach na rannpháirtithe margaidh airgeadais a áirithiú, trí fheidhmiú comhleanúnach coláistí maoirseoirí a áirithiú agus trí ghníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;

    (b) to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the acts referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial market participants, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;

    Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC

  33. #518705

    Ba cheart díolúintí ón oibleagáid imréitigh a chur in oiriúint go sonrach, toisc go laghdóidís éifeachtacht na hoibleagáide agus tairbhí an imréitigh ó thaobh an chontrapháirtí lárnaigh de, agus d'fhéadfadh arbatráiste rialaitheach idir ghrúpaí de rannpháirtithe sa mhargadh a bheith mar thoradh orthu.

    Exemptions to the clearing obligation should be narrowly tailored as they would reduce the effectiveness of the obligation and the benefits of CCP clearing and may lead to regulatory arbitrage between groups of market participants.

    Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories Text with EEA relevance

  34. #519200

    13. Déanfaidh ÚEUM faireachán go tréimhsiúil ar an ngníomhaíocht i ndíorthaigh nach bhfuil incháilithe lena n-imréiteach chun cásanna a shainaithint ina bhféadfadh aicme díorthach ar leith a bheith ina riosca sistéimeach agus chun arbatráiste rialála idir idirbhearta díorthach imréitithe agus neamh-imréitithe a chosc.

    13. ESMA shall regularly monitor the activity in derivatives not eligible for clearing in order to identify cases where a particular class of derivatives may pose systemic risk and to prevent regulatory arbitrage between cleared and non-cleared derivative transactions.

    Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories Text with EEA relevance

  35. #585484

    I gcás ina n-úsáideann institiúid cineálacha éagsúla cur chuige, déanfar an rogha maidir le cur chuige PD/LGD nó cur chuige samhlacha inmheánacha go comhsheasmhach, lena n-áirítear le himeacht ama agus leis an gcur chuige a mbaintear úsáid as le haghaidh bainistithe priacal inmheánach na risíochtaí ábhartha ar chothromas, agus ní chinnfear é trí chomaoineacha arbatráiste rialála.

    Where an institution uses different approaches, the choice of the PD / LGD approach or the internal models approach shall be made consistently, including over time and with the approach used for the internal risk management of the relevant equity exposure, and shall not be determined by regulatory arbitrage considerations.

    Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

  36. #676363

    Tá gá le creat níos aonfhoirmí agus níos láidre a bhunú chun sláine an mhargaidh a chaomhnú agus chun arbatráiste ionchasach rialála a sheachaint agus cuntasacht a áirithiú i gcás iarrachta ar chúbláil chomh maith le breis cinnteachta dlíthiúla, agus níos lú castachta rialála, a sholáthar do rannpháirtithe sa mhargadh.

    There is a need to establish a more uniform and stronger framework in order to preserve market integrity, to avoid potential regulatory arbitrage, to ensure accountability in the event of attempted manipulation, and to provide more legal certainty and less regulatory complexity for market participants.

    Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC Text with EEA relevance

  37. #1656866

    Toisc gur gá tacar aonair de rialacha a bhunú le haghaidh gach institiúide i leith ceanglas áirithe agus toisc gur gá aon arbatráiste rialála a d’fhéadfadh a bheith ann a sheachaint agus toisc gur gá deimhneacht dhlíthiúil a mhéadú agus castacht rialála a laghdú do rannpháirtithe margaidh, tá údar maith le bunús dlí a úsáid a fhágfaidh go bhféadfar Rialachán a chruthú.

    The need to establish a single set of rules for all institutions in respect of certain requirements and to avoid potential regulatory arbitrage as well as to provide more legal certainty and less regulatory complexity for market participants warrants the use of a legal basis allowing for the creation of a Regulation.

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  38. #1657519

    Déanfaidh ÚEUM faireachán rialta ar an ngníomhaíocht i ndíorthaigh nach mbeidh dearbhaithe faoi réir na hoibleagáide trádála arna tuairisciú i mír 1 chun cásanna sonracha a shainaithint ina bhféadfaidh aicme conarthaí a bheith ina riosca sistéamach agus chun arbatráiste rialála a chosc idir idirbhearta díorthach a bheidh faoi réir na hoibleagáide trádála agus idirbhearta díorthach nach mbeidh faoi réir na hoibleagáide trádála.

    ESMA shall regularly monitor the activity in derivatives which have not been declared subject to the trading obligation as described in paragraph 1 in order to identify cases where a particular class of contracts may pose systemic risk and to prevent regulatory arbitrage between derivative transactions subject to the trading obligation and derivative transactions which are not subject to the trading obligation.

    Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 Text with EEA relevance

  39. #1668744

    Ba cheart a chaomhnú leis sin dreasachtaí chun infheistiú sna líonraí ar ar tugadh cuairt agus ba cheart a sheachaint leis sin aon saobhadh ar iomaíocht baile sna margaí ar ar tugadh cuairt, ar saobhadh é a tharlaíonn mar gheall ar arbatráiste rialála ag oibreoirí a úsáideann réitigh i dtaca le rochtain fánaíochta mórdhíóla chun dul san iomaíocht i margaí baile ar ar tugadh cuairt.

    This should preserve incentives to invest in visited networks and avoid any distortion of domestic competition in the visited markets caused by regulatory arbitrage by operators using wholesale roaming access remedies to compete in domestic visited markets.

    Regulation (EU) 2017/920 of the European Parliament and of the Council of 17 May 2017 amending Regulation (EU) No 531/2012 as regards rules for wholesale roaming marketsText with EEA relevance.

  40. #1676153

    Ba cheart deis a bheith ag institiúid le linn na hidirthréimhse a céad chinneadh a chur ar ceal uair amháin, ach cead a bheith faighte aici roimh ré ón údarás inniúil, ar cheart dó a áirithiú nach ndéanfar cinneadh mar sin mar gheall ar bhreithnithe arbatráiste rialála.

    During the transitional period, an institution should have the possibility to reverse once its initial decision, subject to the prior permission of the competent authority which should ensure that such decision is not motivated by considerations of regulatory arbitrage.

    Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017 amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State (Text with EEA relevance)

  41. #1677361

    Bheadh deis iomaíochta mhíchothrom agus arbatráiste rialála mar thoradh air sin ach tá sé tábhachtach a áirithiú go bhfeidhmíonn an tAontas mar mhargadh aonair le haghaidh urrúsuithe STC agus go n-éascaíonn sé idirbhearta trasteorann.

    This would lead to an unlevel playing field and to regulatory arbitrage, whereas it is important to ensure that the Union functions as a single market for STS securitisations and that it facilitates cross-border transactions.

    Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

  42. #1678180

    Chun cur i bhfeidhm comhsheasmhach an Airteagail seo a áirithiú, agus an riachtanas atá ann arbatráiste rialála a chosc á chur san áireamh, forbróidh na ÚEManna dréachtchaighdeáin theicniúla rialála ina sonrófar critéir chun a chinneadh céard iad na socruithe faoi bhannaí faoi chumhdach nó urrúsuithe a mhaolaíonn go riosca creidmheasa contrapháirte go leordhóthanach, de réir bhrí mhír 5.

    In order to ensure consistent application of this Article, and taking into account the need to prevent regulatory arbitrage, the ESAs shall develop draft regulatory technical standards specifying criteria for establishing which arrangements under covered bonds or securitisations adequately mitigate counterparty credit risk, within the meaning of paragraph 5.

    Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

  43. #1709613

    Ba cheart don údarás rialála náisiúnta an fhíorfhéidearthacht a chur san áireamh go mbainfeadh rannpháirtithe sa mhargadh leas as aon rochtain mhórdhíola tráchtála nó aon tairiscintí comhinfheistíochta is féidir a bheith sa mhargadh agus an gá atá le harbatráiste féideartha rialála ar feadh tréimhse fhadaithe a sheachaint.

    The national regulatory authority should also take into account the effective possibility for market participants to take up any commercial wholesale access or co-investment offers which can be present in the market and the need to avoid an extended period of possible regulatory arbitrage.

    Directive (EU) 2018/1972 of the European Parliament and of the Council of 11 December 2018 establishing the European Electronic Communications Code (Recast)Text with EEA relevance.

  44. #1770707

    Ba cheart díolúintí ón oibleagáid imréitigh a chur in oiriúint go sonrach, toisc go laghdóidís éifeachtacht na hoibleagáide agus tairbhí an imréitigh ó thaobh an chontrapháirtí lárnaigh de, agus d'fhéadfadh arbatráiste rialaitheach idir ghrúpaí de rannpháirtithe sa mhargadh a bheith mar thoradh orthu.

    Exemptions to the clearing obligation should be narrowly tailored as they would reduce the effectiveness of the obligation and the benefits of CCP clearing and may lead to regulatory arbitrage between groups of market participants.

    NoDG-2012-02012R0648_EN-GA-DWN

  45. #1771173

    Déanfaidh ÚEUM faireachán go tréimhsiúil ar an ngníomhaíocht i ndíorthaigh nach bhfuil incháilithe lena n-imréiteach chun cásanna a shainaithint ina bhféadfadh aicme díorthach ar leith a bheith ina riosca sistéimeach agus chun arbatráiste rialála idir idirbhearta díorthach imréitithe agus neamh-imréitithe a chosc.

    ESMA shall regularly monitor the activity in derivatives not eligible for clearing in order to identify cases where a particular class of derivatives may pose systemic risk and to prevent regulatory arbitrage between cleared and non-cleared derivative transactions.

    NoDG-2012-02012R0648_EN-GA-DWN

  46. #1795656

    Mar gheall ar an easpa soiléireachta ó thaobh na teorann idir na leabhair thrádála agus na leabhair bhaincéireachta, bhí deiseanna ann arbatráiste rialála a dhéanamh, ach, mar gheall ar easpa íogaireachta sna ceanglais cistí dílse maidir le priacal margaidh, níorbh fhéidir raon iomlán na priacail ar a bhfuil institiúidí risíochta a ghabháil.

    The lack of clarity about the boundary between the trading and banking books gave opportunities for regulatory arbitrage while the lack of risk sensitivity of the own funds requirements for market risk did not allow to capture the full range of risks to which institutions were exposed.

    Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (Text with EEA relevance.)

  47. #1821633

    Sa Teachtaireacht uaidh 8 Meitheamh 2017 maidir le hAthbhreithniú Lár an Téarma ar an bPlean Gníomhaíochta de chuid Aontas na Margaí Caipitil, chuir an Coimisiún béim air go raibh córas maoirseachta atá níos éifeachtaí agus níos comhleanúnaí ríthábhachtach chun deireadh a chur le harbatráiste rialála idir na Ballstáit, agus iad i mbun a gcúraimí maoirseachta a fheidhmiú, chun dlús a chur le comhtháthú margaidh agus chun deiseanna a chruthú d’eintitis agus infheisteoirí airgeadais sa mhargadh inmheánach.

    In its Communication of 8 June 2017 on the mid-term review of the Capital Markets Union Action Plan, the Commission emphasised that more effective and consistent supervision of financial markets and services is pivotal for the elimination of regulatory arbitrage between Member States in the exercise of their supervisory tasks, in order to accelerate market integration and to create internal market opportunities for financial entities and investors.

    Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No?1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No?1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No?1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No?600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance)

  48. #1821856

    Rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, lena n-áirithítear go gcuirtear na gníomhartha reachtacha dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, arbatráiste rialála a chosc, idirghabháil mhaoirseachta a chothú agus faireachán a dhéanamh orthu, idirghabháil a dhéanamh agus faireachán a dhéanamh ar neamhspleáchas na n-údarás inniúil, maoirseacht éifeachtach agus chomhsheasmhach institiúidí margaidh airgeadais a áirithiú, feidhmiú comhleanúnach coláistí maoirseoirí a áirithiú agus gníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;”;

    to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislative acts referred to in Article 1(2), preventing regulatory arbitrage, fostering and monitoring supervisory independence, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial institutions, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;’;

    Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No?1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No?1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No?1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No?600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance)

  49. #1822562

    Rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, lena n-áirithítear go gcuirtear na gníomhartha reachtacha dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, arbatráiste rialála a chosc, idirghabháil mhaoirseachta a chothú agus faireachán a dhéanamh orthu, idirghabháil a dhéanamh agus faireachán a dhéanamh ar neamhspleáchas na n-údarás inniúil, maoirseacht éifeachtach agus chomhsheasmhach institiúidí margaidh airgeadais a áirithiú, feidhmiú comhleanúnach coláistí maoirseoirí a áirithiú, agus gníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;’;

    to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislative acts referred to in Article 1(2), preventing regulatory arbitrage, fostering and monitoring supervisory independence, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial institutions, ensuring a coherent functioning of colleges of supervisors, and taking actions, inter alia, in emergency situations;’;

    Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No?1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No?1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No?1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No?600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance)

  50. #1822708

    Rannchuidiú a thabhairt maidir le gníomhartha an Aontais atá ceangailteach le dlí a chur i bhfeidhm go comhsheasmhach, go háirithe trí rannchuidiú le cultúr coiteann maoirseachta, lena n-áirithítear go gcuirtear na gníomhartha reachtacha dá dtagraítear in Airteagal 1(2) i bhfeidhm go comhsheasmhach, go héifeachtúil agus go héifeachtach, arbatráiste rialála a chosc, neamhspleáchas maoirseachta a chothú agus faireachán a dhéanamh air, eadráin a dhéanamh ar easaontuithe idir údaráis inniúla agus iad a réiteach, maoirseacht éifeachtach agus chomhsheasmhach rannpháirtithe margaidh airgeadais a áirithiú, feidhmiú comhleanúnach coláistí maoirseoirí a áirithiú agus gníomhaíochtaí a dhéanamh, inter alia, i staideanna éigeandála;”;

    to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislative acts referred to in Article 1(2), preventing regulatory arbitrage, fostering and monitoring supervisory independence, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial market participants, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;’;

    Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019 amending Regulation (EU) No?1093/2010 establishing a European Supervisory Authority (European Banking Authority), Regulation (EU) No?1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), Regulation (EU) No?1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority), Regulation (EU) No?600/2014 on markets in financial instruments, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and Regulation (EU) 2015/847 on information accompanying transfers of funds (Text with EEA relevance) (Text with EEA relevance)