Finance and Capital Markets
New Reporting Duty for Stock Brokers
In accordance with the amendment to Act no. 256/2004 Coll. (the “Capital Markets Act”), which came into force on 1 May 2020, a new reporting duty arose for stock brokers enshrined in Section 129b of the Capital Markets Act. Pursuant to this provision, stock brokers are obliged to report to the Guarantee Fund information on the amount of customer assets always by 31 January of the given year for the previous calendar year.
Innovation in a Person’s Electronic Identification – BankID
An innovative method for a person’s electronic identification is coming to the digital market with effective from 1 January 2021.
Alternative Fund in accordance with Section 15 of the Act on Investment Companies and Investment Funds (ZISIF)
An “alternative fund” or “mini-fund” is a form of asset management that is comparable to the management of investment funds. This is a simplified regime that allows the management of funds that are not offered to the public and contain a smaller amount of assets.
Crowdfunding
Stuchlíková & Partners has prepared for its client a business plan analysis relating to equity crowdfunding. By way of equity crowdfunding, most of the public is offered investment in companies or specific property intended for investment. With equity crowdfunding, the investor becomes the owner of shares or interest, and the amount of the co-ownership should be based on the resources invested. Among other things, the analysis takes up the functioning of equity crowdfunding in the Czech Republic under the Capital Markets Act, the Act on Investment Companies and Investment Funds, and the Act on the Provision of Payment Services.
Membership in the Czech Capital Market Association
Stuchlíková & Partners, which specialises in financial law, became an associate member of the Czech Capital Market Association.
Pension companies, pension funds, and supplementary pension savings
Stuchlíková & Partners prepared a legal and tax analysis for foreign investors relating to the regulation of pension companies, pension funds, and supplementary pension savings in the Czech Republic and licensing procedures for a pension company at the Czech National Bank.