Czech National Bank
Crowdfunding and Participation Agreements
In February 2024, the Czech National Bank issued an opinion on the regulation of “crowdfunding” internet platforms, which operate on the principle of participation agreements.
Commentary for the Magazine Bankovnictví
In the November issue of magazine Bankovnictví, Zuzana Stuchlíková was given the opportunity to comment on the licensing process at the Czech National Bank.
Crowdfunding provider licence
Crowdfunding provider licence - in our article you can find out whether you are required to obtain a crowdfunding provider licence from the CNB and how we can help you with the licensing process.
AML inspections by the FAU or the CNB
The most common deficiencies in AML inspections by the FAU or the CNB.
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.
Participation in the Conference “Trends in Payment Systems 2021”
Stuchlíková & Partners spoke together with representatives of the Czech Banking Association, the Ministry of Finance, Mastercard, Komerční banka, and Česká spořitelna at the conference “TRENDS IN PAYMENT SYSTEM 2021”, organized by conforum s.r.o. on 16 February 2021, with a contribution entitled Experience with Obtaining a Payment Licence. In our presentation, we focused mainly on the biggest pitfalls of the licensing process at the CNB and lessons learned from them.
New Reporting Duty for Financial Services Intermediaries
The Czech National Bank (the “CNB”), in accordance with Section 41(3) of Act no. 6/1993 Coll. on the Czech National Bank, as amended, has issued, with effect from 1 January 2021, Decree no. 518/2020 Coll., on the Submission of Information on Financial Services Intermediaries to the Czech National Bank, details for fulfilling the reporting duty at the CNB for financial services intermediaries.
CNB Licence for an Exchange Office
The law firm Stuchlíková & Partners has successfully represented a client in obtaining a licence for an exchange office with the Czech National Bank. The services of our law firm included company formation, preparation of all licensing documentation for obtaining an exchange office licence, and representation in the licencing procedure with the CNB.
Cooperation Settings in the Field of Card Acquiring with Leading Czech Banks
Stuchlíková & Partners provided comprehensive legal advice to the sales representative of a major foreign payment institution operating throughout the entire EU and a leader in innovative payment solutions in connection with the set-up of cooperation in the field of card acquiring with leading Czech banks. Legal advice included consultation with the Czech National Bank, including the submission of a qualified inquiry, the assessment of compliance with the new PSD2 legislation, and the preparation of comprehensive contractual documentation.