Traduction de «Iniziale » (Italien → Anglais) :

When a Central Securities Depository (CSD), as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014 of the European Parliament and of the Council , or a third-country CSD provides the services of operating a securities settlement system as well as at least either the initial recording of securities in a book-entry system through initial crediting or providing and maintaining securities accounts at the top tier level, as specified in Section A of the Annex to that Regulation, the provision of those services by that CSD with respect to the securities of the UCITS that are initially recorded in a book-entry system through ini ...[+++]tial crediting by that CSD should not be considered to be a delegation of custody functions.

(21) When a Central Securities Depositary (CSD), as defined in Article 2 (1)(1) of Regulation (EU) No ./2014 of the European Parliament and of the Council , or a third-country CSD provides the services of: (i) operating a securities settlement system; as well as at least (ii) initial recording of securities in a book-entry system through initial crediting; or (iii) providing and maintaining securities accounts at the top tier level; as specified in Section A of the Annex to Regulation (EU) No ./2014 *, the provision of those services by this CSD with respect to the securities of the UCITS that are initially recorded in a book-entry sy ...[+++]stem through initial crediting by this CSD should not be considered a delegation of custody functions.

38. Stresses that the time spent on evaluation of incoming information has doubled since 2004, from 3.5 to 7.1 months; is of the opinion that the initial assessment phase should be limited to proving or rejecting the reality of the allegations contained in the initial information; is of the opinion that carrying out investigative activities during the initial assessment phase, which as a consequence not only causes legal uncertainty but also distorts the statistics concerning the different aspects of investigations, should be avoided; suggests that an investigation be initiated using the available investigative possibilities in case t ...[+++]he information, gathered during the initial assessment and using the legal instruments available during that initial assessment, does not enable OLAF to decide whether or not to open a case;

However, where the AIFM changes its marketing strategy within 2 years of its initial authorisation, and that change would have affected the determination of the Member State of reference if the modified marketing strategy had been the initial marketing strategy, the AIFM shall notify the competent authorities of the original Member State of reference of the change before implementing it and indicate its Member State of reference in accordance with the criteria set out in paragraph 4 and based on the new strategy.

Calculation method: updated sub-region ceiling = initial sub-region ceiling + [ (initial sub-region ceiling / initial number of countries in sub-region) * (number of countries added to sub-region) * (number of years remaining in mandate / total number of years in mandate) ]

The consequence of this rule change is that the common position is no longer concerned with full basic training but with a 'basic qualification'; the minimum basic training, which still includes course attendance, becomes the 'accelerated basic qualification'.