Finance and Capital Markets
AML inspections by the FAU or the CNB
The most common deficiencies in AML inspections by the FAU or the CNB.
Have you taken a loan and do not like paying interest?
If the loan provider has incorrectly assessed your creditworthiness, it is obliged to reimburse the interest paid, even several years after the loan has been repaid without any problems.
Payment frauds are more and more frequent
A classic scenario - you are selling an item in an online bazaar for CZK 200, you end up in a minus of CZK 1 000 000.
Who Can Be an Investor in an Alternative Fund?
Only a limited number of people can be investors in an alternative fund, pursuant to Section 15 of Act no. 240/2013 Coll., on Investment Companies and Investment Funds, as amended (the “ZISIF”).
Obligations of Alternative Funds (Mini-funds) after Registration on the Czech National Bank’s List
After successful registration of the alternative fund (mini-fund) in accordance with Section 15 of Act no. 240/2013 Coll., on Investment Companies and Investment Funds, as amended (the “ZISIF”) on the list of Alternative Fund Managers maintained by the Czech National Bank (the “CNB”), a new obligation arises, and each Alternative Fund Manager should be prepare for this in advance.
Quick Registration of an Alternative Fund (Mini-fund) on the Czech National Bank’s List
Stuchlíková & Partners successfully represented the applicant “ALGO EQUITIES s.r.o.” with respect to registering on the list of alternative funds (mini-funds), i.e. legal persons authorized to manage assets comparable to investment funds (the “Alternative Fund Manager“) in accordance with Section 15 of Act no. 240/2013 Coll., on Investment Companies and Investment Funds, as amended (the “ZISIF”). Stuchlíková & Partners prepared the turnkey documents necessary for the Alternative Fund Manager to submit an application for registration on the list and provided the necessary consultation and information.
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.