Jun 21, 2014 08:22
9 yrs ago
1 viewer *
French term
Période de Surveillance
French to English
Bus/Financial
Finance (general)
Contrat de direction involving an increase of the share capital
"10. STABILISATION
(a) De la date de fixation du Prix de Souscription jusqu’au [quinzième] jour calendaire (inclus) suivant la date des présentes (la « Période de Surveillance »), le Chef de File et Teneur de Livre, agissant en qualité de gestionnaire de la stabilisation au nom et pour le compte des Banques (le « Gestionnaire de la Stabilisation »), aura la faculté (mais ne sera en aucun cas tenu) d’intervenir à l’achat et à la vente sur le marché afin de régulariser le cours des Actions (les « Opérations de Stabilisation »), conformément aux dispositions législatives et règlementaires applicables, y compris celles du Règlement CE n°2273/2003 de la Commission européenne du 22 décembre 2003 portant modalités d’application de la Directive n°2003/06/CE du 28 janvier 2003 relative aux opérations d’initiés et les manipulations de marché. Les Opérations de Stabilisation, si elles sont entreprises, pourront être arrêtées à tout moment. A compter de la date de fixation du Prix de Souscription et durant la Période de Surveillance, le Co-Chef de File s’engage à ne pas réaliser d’Opérations de Stabilisation."
[N.B. Yes, I took a good look CE No. 2273/2003 before submitting this question]
Thank you.
(a) De la date de fixation du Prix de Souscription jusqu’au [quinzième] jour calendaire (inclus) suivant la date des présentes (la « Période de Surveillance »), le Chef de File et Teneur de Livre, agissant en qualité de gestionnaire de la stabilisation au nom et pour le compte des Banques (le « Gestionnaire de la Stabilisation »), aura la faculté (mais ne sera en aucun cas tenu) d’intervenir à l’achat et à la vente sur le marché afin de régulariser le cours des Actions (les « Opérations de Stabilisation »), conformément aux dispositions législatives et règlementaires applicables, y compris celles du Règlement CE n°2273/2003 de la Commission européenne du 22 décembre 2003 portant modalités d’application de la Directive n°2003/06/CE du 28 janvier 2003 relative aux opérations d’initiés et les manipulations de marché. Les Opérations de Stabilisation, si elles sont entreprises, pourront être arrêtées à tout moment. A compter de la date de fixation du Prix de Souscription et durant la Période de Surveillance, le Co-Chef de File s’engage à ne pas réaliser d’Opérations de Stabilisation."
[N.B. Yes, I took a good look CE No. 2273/2003 before submitting this question]
Thank you.
Proposed translations
(English)
| 3 +3 | observation period |
rkillings
|
| 4 | Trial period/probationary period |
Chris Maddux
|
| 3 +1 | monitoring, surveillance |
Nikki Scott-Despaigne
|
Proposed translations
+3
6 hrs
Selected
observation period
Don't find it so named in the FCA's rules in English, but from the description it must at least overlap the subscription period and precede the stabilisation period (which are named).
Seems to be an operational concern between the contracting parties rather than a regulatory thing.
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Note added at 1 day9 hrs (2014-06-22 18:12:31 GMT) Post-grading
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Thanks, Swiss Bankers. It didn't occur to me that the drafters of this contract would invent a new term for what regulators (AMF in particular) have long called the 'période de stabilisation'! Duh.
But if the two periods are one and the same, the translator faces a dilemma. To revert to the standard term betrays whatever motive the drafters had in avoiding it -- which means something like "observation period" is *more* faithful to the text. OTOH, if it is not obvious from the rest of the text that the two are the same, the standard term will not mislead the reader and is better on that score.
Seems to be an operational concern between the contracting parties rather than a regulatory thing.
--------------------------------------------------
Note added at 1 day9 hrs (2014-06-22 18:12:31 GMT) Post-grading
--------------------------------------------------
Thanks, Swiss Bankers. It didn't occur to me that the drafters of this contract would invent a new term for what regulators (AMF in particular) have long called the 'période de stabilisation'! Duh.
But if the two periods are one and the same, the translator faces a dilemma. To revert to the standard term betrays whatever motive the drafters had in avoiding it -- which means something like "observation period" is *more* faithful to the text. OTOH, if it is not obvious from the rest of the text that the two are the same, the standard term will not mislead the reader and is better on that score.
Peer comment(s):
| agree |
nweatherdon
: I would use capital letters. I think monitoring has specific meaning for accounting, management accounting or other management tools which are not likely to be part of this observation.
2 hrs
|
|
Yes, with initial capitals as a defined term in this contract.
|
|
| agree |
writeaway
2 hrs
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| agree |
Nikki Scott-Despaigne
: "observation period" seems more accurate than" stabilisation period" as the "surveillance" occurs during part of the stablisation process. prefer your term RK to the one suggested by the client! ;-)
22 hrs
|
3 KudoZ points awarded for this answer.
Comment: "Thanks, RK. Client (magic circle law firm in Paris) says "stabilisation period""
2 hrs
Chris Maddux
United States
United States
Native in English
Works in field
United States
Translator
Native in: English (Variant: US)
Works in: Spanish to English, French to English, English Old (ca.450-1100) to English, and 1 more.
Trial period/probationary period
http://www.nyu.edu/about/policies-guidelines-compliance/poli...
http://www.thefreedictionary.com/trial period
http://www.thefreedictionary.com/trial period
Note from asker:
| thank you, Chris |
+1
7 hrs
Nikki Scott-Despaigne
Native in English
Psychologist, Court-certified legal
Native in: English 
Works in: French to English
Related KudoZ points
:
162
monitoring, surveillance
In this type of context the terms "monitoring" and "surveillance" are quite common in English too, particularly "monitoring". I've rooted around for the regulation and the directive too and can find no direct EN version for your term, which is odd, as I reckon it must be out there somewhere. How frustrating!
Peer comment(s):
| agree |
Daryo
: "monitoring" (which implies a more involved/proactive attitude than just "observation") should be the right nuance, but it is really frustrating that it seems impossible to get hold of the right references!
7 hrs
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A valid criticism. "Surveillance" or "observation" imply a little more distance.
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Discussion