что-то я не пойму...

больше подезного контекста нету, ранее речь идёт о коммюнике Комиссии с предложением подготовки a framework Directive on Clearing and Settlement.

...или я неправильно предложение делю?...

а вот такое название пункта - **Review qualifying shareholdings**
не могу взять в толк, как его перевести.

он небольшой, привожу его текст целиком. вдруг кто-то подскажет мысль :)

In September 2004, the Council of Economic and Financial Affairs, meeting informally in Scheveningen, discussed the issue of lagging cross-border consolidation in the banking area. Following this discussion, Finance Ministers asked the Commission to examine possible changes to the supervisory approval process laid down in EC legislation, i.e. article 16 of the Banking Directive and articles 15 of the Insurance Directives20.
After consultation with Member States, supervisory authorities and the industry, it appears there is a clear call for more clarity, transparency and disclosure in the supervisory approval process. Option 1 would therefore not be appropriate. Repealing the existing provisions would undoubtedly add to the identified problems, by potentially creating more divergence, which rules out option 2. As there is a need to make rather limited amendments to the existing legislation, option 4 is more appropriate than option 3 (implementation only has proven not be sufficient) and option 5 (there is not a case for wide-ranging changes).

спасибо!

только это доля участия здесь ... уместна?
может, стоит заменить на "заинтересованные стороны" или ещё как?

может, авторы этого опуса shareholdings со stakeholdings перепутали?...
или это мои домыслы?

в принципе, речь об интерграции в финансовом секторе ЕС, рассматриваются разные варианты политики в этой сфере и возможности их сочетания.

есть вот такие *policy orientations*, о каждой из которых более-менее подробно рассказывается - все они входят в статью "A differentiated policy mix to better address the challenges ahead "
вот они:
Implementation of agreed measures
Consistency between general consumer and sectoral legislation
Policy synergies
Supervisory convergence
Retail financial services
Solvency II
Review qualifying shareholdings
Clearing and Settlement
Elimination of unjustified barriers to cross-border consolidation
The Hague Convention
Financial analysts
Rating agencies
Asset management
External dimension - кстати, что за зверь, тоже не ясно пока.

в конце дока делается их summary - такой chart для выбора 1-2 из 5 options для каждой из вышеперечисленных *policy orientations*.

А options мы имеем такие:
1. No action
2. Repealing existing legislation
3. Follow-up of past actions
4. Dynamic consolidation
5. New initiatives

вот...
надеюсь, это что-то проясняет :)

A company has a ' qualifying shareholding' in a joint venture company
- if it is not a member of a group, when it holds 10% or more of the ordinary share capital of the joint venture company, or
- if it is a member of a group, when it holds any of the ordinary share capital of the joint venture company and members of its group together hold more than 10% of that ordinary share capital. (TCGA92/SCH7AC/PARA23 & TCGA92/SCH7AC/PARA24)

это же у Вас из Гугла? это, как я понимаю, текст самой WHITE PAPER, а у меня Annex II to the White Paper on Financial Services Policy.

в моём доке сказано только
After consultation with Member States, supervisory authorities and the industry, it appears there is a clear call for more clarity, transparency and disclosure in the supervisory approval process.

текты похожи, но полностью не совпадают.
мой док:
http://ec.europa.eu/internal_market/finances/docs/white_paper/annex_2_en.pdf

The Hague Convention
The Commission is currently conducting a legal assessment on the proposal for signature of The Hague Convention. Depending on the result of this assessment, the Commission might decide to effectively withdraw the proposal (i.e. possibly option 2).
(это весь пункт)

привожу весь текст пункта, содержание дока вкратце + ссылка на полный текст приведены выше...

External dimension
Recent experience (notably with the adoption of the Financial Conglomerates Directive in the EU or the enactment of the Sarbanes-Oxley Act in the US) has shown the possible, and sometimes unintended, spillover effects of regulation in increasingly global financial markets.
Regulation that does not take into account the global dimension may prove ineffective, counter-productive or damaging to the global competitiveness of the EU financial marketplace. Proper consideration should be given to global standards, when they exist and are appropriate (cf. the cases of financial analysts and credit rating agencies in sections 6.2.11 and 6.2.12).
In addition, a shared understanding and comparable regulatory responses in the main financial marketplaces are appropriate in face of some new global challenges and risks.
Against this background, although the policy options described in section 4 are not fully applicable, the most relevant option as regards the external dimension is option 4. Indeed, even though taking the external dimension should not result in extensive new legislative actions, there might be some cases where coordinated legislative adjustments are required, as was the case in the field of audit after the Parmalat and Enron debacles.

может. найдутся сердобольные люди, не дадут зашиться окончательно...
завтра сдавать, и ещё 4 страницы...

Redni - уже привычное большое спасибо! :)