Investorgarantiordninger
http://www.europarl.europa.eu/

Investor compensation schemes
http://www.europarl.europa.eu/

Udtalelse om investorgarantiordninger( CON/ 1998/21)
http://www.ecb.int/

Opinion on investor compensation schemes( CON/ 1998/21)
http://www.ecb.int/

På denne baggrund får direktivet om investorgarantiordninger aktuelt mere betydning.

Against this backdrop, the directive on investor compensation schemes takes on further topical significance.

i en række medlemsstater anvendes investorgarantiordninger, som administreres af brancheorganisationer

Whereas some Member States have investor-compensation schemes under the responsibility of professional organizations;

EUROPA-PARLAMENTETS OG RÅDETS DIREKTIV 97/9/EF af 3. marts 1997 om investorgarantiordninger

DIRECTIVE 97/9/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 3 March 1997 on investor-compensation schemes

Medlemsstaterne påser, at der i alle investorgarantiordninger fastsættes objektive og generelle betingelser for sådanne filialers medlemskab.

Member States shall ensure that objective and generally applied conditions are established concerning branches' membership of all investor-compensation schemes.

Hver medlemsstat påser, at der på dens område indføres en eller flere investorgarantiordninger, som bliver officielt anerkendt.

Each Member State shall ensure that within its territory one or more investor-compensation schemes are introduced and officially recognized.

alle medlemsstater bør derfor have pligt til at oprette en eller flere investorgarantiordninger, som alle sådanne investeringsselsskaber skal være tilknyttet

Whereas, therefore, every Member State should be required to have an investor-compensation scheme or schemes to which every such investment firm would belong;

10 Betragtning 23 til Europa-Parlamentets og Rådets direktiv 97/9/ EF af 3. marts 1997 om investorgarantiordninger( EFT L 84 af 26.3.1997, s. 22).
http://www.ecb.int/

10 Recital 23 to Directive 97/9/ EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes( OJ L 84, 26.3.1997, p. 22).
http://www.ecb.int/

( 13) Det er hensigtsmæssigt, at myndigheden bidrager til at sikre en konsekvent fremgangsmåde inden for investorgarantiordninger for at sikre ens vilkår og rimelig behandling af investorer i hele Fællesskabet.
http://www.ecb.int/

( 13) It is desirable that the Authority promote a consistent approach in the area of investor compensation schemes to ensure a level playing field and the equitable treatment of investors across the Community.
http://www.ecb.int/

et bindende fællesskabsdirektiv er det eneste egnede middel til at nå det ønskede mål, da der generelt mangler investorgarantiordninger med en dækning, der svarer til direktiv 93/22/EØF

whereas a binding Community Directive is the only appropriate instrument for the achievement of the desired objective in the general absence of investor-compensation arrangements corresponding to the coverage of Directive 93/22/EEC;

-er for så vidt angår de tjenesteydelser, der er omhandlet i artikel 5, stk. 3, underlagt bestemmelserne i Europa-Parlamentets og Rådets direktiv 97/9/EF af 3. marts 1997 om investorgarantiordninger(12).

-shall be subject with regard to the services referred to in Article 5(3) to the provisions laid down in Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes(12).

(7) i de fleste medlemsstater findes der allerede forskellige former for investorgarantiordninger, men disse dækker ikke generelt alle investeringsselskaber med den EF-dækkende tilladelse, som er omhandlet i direktiv 93/22/EØF;

(7) Whereas although most Member States currently have some investor-compensation arrangements those arrangements do not in general cover all investment firms that hold the single authorization provided for in Directive 93/22/EEC;

1. Investorgarantiordninger, der indføres og officielt anerkendes i en medlemsstat i henhold til artikel 2, stk. 1, omfatter tillige investorer i filialer, som investeringsselskaber har etableret i andre medlemsstater.

1. Investor-compensation schemes introduced and officially recognized in a Member State in accordance with Article 2 (1) shall also cover investors at branches set up by investment firms in other Member States.

Derfor skal der i alle medlemsstater eksistere investorgarantiordninger, der i det mindste for småinvestorer sikrer en harmoniseret mindstebeskyttelse i tilfælde af, at et værdipapirfirma ikke er i stand til at opfylde sine forpligtelser over for investorkunderne.
http://www.europarl.europa.eu/

That is why investor compensation schemes must be in place in all the Member States, to ensure that small savers at least have a uniform minimum level of protection in the event of a securities firm being unable to meet its obligations to its investors.
http://www.europarl.europa.eu/

Næste punkt på dagsordenen er betænkning (A4-0047/97) af Janssen van Raay for EuropaParlamentets delegation til Forligsudvalget om Rådets fælles holdning fastlagt med henblik på vedtagelse af Europa-Parlamentets og Rådets direktiv om investorgarantiordninger (C4-0058/97-00/0471 (COD)) .

The next item is the report (A4-0047/97) by Mr Janssen van Raay, on behalf of the European Parliament delegation to the Conciliation Committee on the joint text (C4-0058/97-00/0471(COD)) , approved by the Conciliation Committee, for a European Parliament and Council Directive on investor compensation schemes.

b) om der findes en garantifond eller andre garantiordninger, der ikke er omfattet af Europa-Parlamentets og Rådets direktiv 94/19/EF af 30. maj 1994 om indskudsgarantiordninger(9) og Europa-Parlamentets og Rådets direktiv 97/9/EF af 3. marts 1997 om investorgarantiordninger(10).

(b) the existence of guarantee funds or other compensation arrangements, not covered by Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit guarantee schemes(9) and Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor compensation schemes(10).

Da investorgarantiordninger snarere er underkastet kontrol i medlemsstaterne end et lovmæssigt tilsyn, er det hensigtsmæssigt, at myndigheden kan udøve sine beføjelser i henhold til denne forordning for så vidt angår selve investorgarantiordningen og den institution, som administrerer ordningen, og som kan betragtes som svarende til en tilsynsmyndighed inden for dette område.
http://www.ecb.int/

As investor compensation schemes are subject to oversight in their Member States rather than regulatory supervision, it is appropriate that the Authority should be able to exercise its powers under this Regulation in relation to the investor compensation schemes itself and its operator who can be considered as being the equivalent of a supervisory authority in this area.
http://www.ecb.int/

endelig er en vis minimumsharmonisering af investorgarantiordningerne nødvendig, for at det indre marked kan gennemføres fuldt ud for investeringsselskaber, idet det herved bliver muligt at skabe et mere tillidsfuldt forhold mellem investorerne og investeringsselskaberne, især når der er tale om selskaber fra andre medlemsstater, og at undgå de vanskeligheder, som kan opstå, når et værtsland anvender nationale investorgarantiordninger, som ikke er samordnet på fællesskabsniveau

Whereas, in conclusion, a minimum degree of harmonization of investor-compensation arrangements is necessary for the completion of the internal market for investment firms since it will make it possible for investors to do business with such firms with greater confidence, especially firms from other Member States, and make it possible to avoid any difficulties caused by host Member States applying national investor-protection rules that are not coordinated at Community level;

(25) endelig er en vis minimumsharmonisering af investorgarantiordningerne nødvendig, for at det indre marked kan gennemføres fuldt ud for investeringsselskaber, idet det herved bliver muligt at skabe et mere tillidsfuldt forhold mellem investorerne og investeringsselskaberne, især når der er tale om selskaber fra andre medlemsstater, og at undgå de vanskeligheder, som kan opstå, når et værtsland anvender nationale investorgarantiordninger, som ikke er samordnet på fællesskabsniveau; et bindende fællesskabsdirektiv er det eneste egnede middel til at nå det ønskede mål, da der generelt mangler investorgarantiordninger med en dækning, der svarer til direktiv 93/22/EØF; med nærværende direktiv gennemføres kun det nødvendige minimum af harmonisering; direktivet giver medlemsstaterne mulighed for at kræve en bredere eller større dækning, hvis de ønsker det, og giver dem samtidig den fornødne frihed med hensyn til organisering og finansiering af investorgarantiordningerne -

(25) Whereas, in conclusion, a minimum degree of harmonization of investor-compensation arrangements is necessary for the completion of the internal market for investment firms since it will make it possible for investors to do business with such firms with greater confidence, especially firms from other Member States, and make it possible to avoid any difficulties caused by host Member States applying national investor-protection rules that are not coordinated at Community level; whereas a binding Community Directive is the only appropriate instrument for the achievement of the desired objective in the general absence of investor-compensation arrangements corresponding to the coverage of Directive 93/22/EEC; whereas this Directive effects only the minimum harmonization required, allows Member States to prescribe wider or higher coverage if they desire and gives Member States the necessary latitude as regards the organization and financing of investor-compensation schemes,