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Groups as value added tax payers
Kořínková, Zuzana ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
This thesis is devoted to groups as value added tax payers. This concept was introduced into Czech law on 1st January 2008. A VAT group enables persons that meet the criteria required by the VAT Act to be considered a single taxable person, i.e. a single tax payer. The Czech VAT group legislation is based on article 11 of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax. The aim of this thesis is to present and thoroughly analyze VAT group legislation in Czech law, and to point out certain pitfalls of this legislation, including its interaction with EU law, and the law of some of the other EU member states. A secondary goal is to assess the rate at which VAT groups are being used in the Czech Republic. The first chapter describes VAT group in EU law, and its introduction into the Czech legal order. The second chapter discusses the requirements that the law puts on members of a VAT group, with extra emphasis on the requirement of close binding of persons, including the membership of physical persons and non-taxable persons in a VAT group. The third chapter deals with VAT group as a subject of legal relations, describing in more detail the concept of a representative member and the responsibilities of a VAT group member. The next chapter takes a more practical...
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Legal regulation of activities of financial advisor
Stupka, Martin ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Title: Legal regulation of activities of financial advisor The master's thesis Legal regulation of activities of financial advisor explains the term of financial advisory in the Czech Republic and other relative terms from perspective of a man who actually has experience with this field. The goals of the thesis are to define terms of financial advisory and financial advisor, and then to analyze individual fields of financial market from legal perspective. The most described field in master's thesis is the field of insurance.
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A comparison of the organization of supervision over the financial market in individual EU member states
Bízek, Tomáš ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
In my diploma thesis, I aim to define and compare models of financial market supervision used in the European Union member states. Furthermore, I try to analyze the development of these states between 2001 and 2015. Lastly, I attempt to predict their future development. The thesis contains a theoretical and a practical part. The theoretical part consists of three chapters and the last two chapters are practical. In the first chapter, I attempt to describe the financial market and provide a theoretical definition of supervision. Next, I focus on regulation, supervisors and supervised entities. Finally, I also deal with the purpose and aims of financial supervision. A well-defined terminology is crucial to any study involving financial market supervision. In the second chapter, I discuss three basic models of financial market supervision I recognize in the European Union member states. In the third chapter, I focus on the role of the financial market supervisors, their responsibilities and independence. In the fourth chapter, I describe the structure of financial markets in each member state of the European Union from 2001 to 2015. Furthermore, the purpose of this chapter is to collect data for the next chapter. In the fifth chapter, I analyze and compare financial market supervision models of the European...
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Legal regulation of trading in financial derivatives
Freibergová, Tereza ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
1 Abstract This thesis is focused on the financial derivatives. The main goal of this paper is to analyse legal nature of financial derivatives and to present universal definition, general characteristics or utilization of financial derivatives. The other goal of this paper is to describe the development of supervision and regulation before and after The Global Financial Crisis. The thesis is composed of three main chapters. Chapter One is focused on a definition of the financial derivatives as well as the development of derivatives in the fields of history. Chapter Two is dedicated to brief description and explanation of important derivatives types such as forwards, futures, swaps, options and credit derivatives. Chapter Three of this thesis deals with the problems of supervision and regulation of financial derivatives based on American and European law. In response to the causes and effects of The Global Financial Crisis the regulation increased. There were introduced new regulatory legislations which require for example deep transparency of OTC derivatives or settlement of OTC trades through a central counterparty. Key words: financial derivatives, forwards, futures, swaps, options, regulation
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Measures against the legalisation of proceeds of crime committed within banking industry and loan institutions
Konovalova, Anna ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
For a better understanding of relevant issues, in the introduction of the thesis contains a brief historical excursus to that topic, and there are explained the general features of the process of legalization of proceeds from crime, including putting illustrative examples from the area of the criminal law, as well as in the area of financial law. As examples have been selected major bank cases which were related to AML/CFT, but also had much wider impact. The diploma thesis deals with measures against the legalization of proceeds from crime in area of banking and credit institutions and focuses primarily on the measures arising from major law Act no. 253/2008 Coll., on certain measures against the legalization of proceeds from crime and terrorist financing. Consequently, the thesis deals partly with law of the European Communities, which was reflected into national legislation by the Act no. 253/2008 Coll. Following this, the diploma thesis also mentions other sources that have been adopted not only at national level but also in the context of international law. In addition the diploma thesis also identified some selected authorities which are involved in AML/CFT, where attention is aimed to the Financial Analytical Unit, which holds a key position in this specific field. Money laundering is a...
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Information duty arising from providing investment services
Soural, Aleš ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Duty to inform the customer arising from providing investment services is one of the most important institutes of consumer protection in the capital market, especially in light of the recent financial crisis. The aim of this thesis is to comprehensively explain and summarize the issue of disclosure duties of securities trader to the customer. Questions that I ask in this context are: 1) whether the current legislation under the Directive on markets in financial instruments (MiFID I), respectively. Act no. 256/2004 Coll. Capital Market Undertakings Act (Capital Market Undertakings Act) is sufficient; and b) what changes will bring a new directive on markets in financial instruments (MiFID II), respectively amendment to Act no. 256/2004 Coll. Capital Market Undertakings Act (amendment Capital Market Undertakings Act )and whether it is a benefit for the capital market or not. In the introduction I introduce the situation on the capital market in Europe, respectively in the Czech Republic, history and present the information duty when providing investment services and content description of each charter. The first chapter is theoretical and I define in it term of general legal term: information duty, providing investment services, bearer of information duty, and the person entitled to the information....
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Comparison of legal instruments used in the fight against legalization of proceeds of crime in the Czech Republic and the Federal Republic of Germany
Šváchová, Lucie ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
The subject of my thesis is the identification and subsequent comparison of legal instruments which are intended to fight against legalization of proceeds of crime, which is also referred to as money laundering, in the Czech Republic and in the Federal Republic of Germany. The first chapter is to familiarize the reader with the issue of money laundering, therefore it provides the definition of the phenomenon of money laundering and also describes the typical phases of this process. The second chapter is devoted to international institutions that deal with money laundering on the supranational level and whose activities are then reflected in international standards. The third chapter deals with legislation related to the fight against legalization of proceeds of crime in the Czech Republic. First I focus on the history of the development of the struggle against money laundering in the country and subsequently describe particular laws designed to regulate the rights and obligations relating to the effective fight against this phenomenon. Further I describe particular obligations that fall on subjects, which may be confronted with efforts to launder money within its activities, and characterize individual institutions that are involved in the fight against money laundering. The fourth chapter is...
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Dispute resolution by a financial arbitrator
Jankových, Kristýna ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The aim of this diploma thesis was to identify and analyze the decision-making activities of the Financial Arbitrator as an out-of-court dispute resolution body for some of the consumer disputes in the area of financial services, both procedural and substantive points of view. The author discusses the importance and practical impacts of the decision-making activities of the Financial Arbitrator to the parties of the proceedings before the Financial Arbitrator taking into account recent legislative changes affecting this institution. At the same time, the author deals with some practical problems which the Financial Arbitrator faces by its decision making and discusses their solutions. Finally, the author examines and evaluates some of the decisions issued by the Financial Arbitrator in various areas of its competence. The actual text of this work is divided into five chapters, introduction and conclusion. In the first chapter the author briefly describes the origin and development of the institute of the Financial Arbitrator and its institutional framework as to emphasize the specifics of this institute, which is reflected in its decision-making and offers a view of foreign approaches in the creation of disputes dealing with an out-of-court resolution of disputes from financial services. In the...
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Distribution of financial instruments
Hobza, Martin ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
in English language Distribution of financial instruments This thesis deals with the issue of distribution of financial instruments and its legal regulation. The aim of the thesis is to theoretically define, within the financial law systematically classify and analyze the issue of legal framework for the distribution of financial instruments. The secondary objective is to highlight the partial incoherence of legislation regulating the various forms of distribution and propose possible solutions. The first two chapters of this thesis are devoted to general theoretical issues related to the present topic, among others to the concepts of distribution in the financial market and financial instrument. The third chapter deals with investors as addressees of distribution and with the various categories of distributors and analyzes the extent of their qualification in the area of distribution of financial instruments. The chapter four analyzes the different legal forms of distribution of financial instruments with a focus on marketing of investment funds. Within particular chapters, author's views on the issue are given, including proposals de lege ferenda. Finally, the draft of legislative amendments in the area of distribution of financial instruments, representing participation in the investment fund is...
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Constraints on Islamic Banking Within European and Czech Legal Framework
Mádl, Hynek ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Title Constraints on Islamic Banking Within European and Czech Legal Framework Author Hynek Mádl Keywords Islamic banking, credit, Sharī'ah board, Murabaha, Musharakah Summary Islamic banking is a sector of financial market which was formed in the 1970s and since then, it has spread outside Muslim countries too. The difference between Islamic banking and conventional banking is in the fact that all activities of Islamic banks shall be consistent with the principles of Islamic law. The submitted thesis aims to find and analyse obstacles of implementing Islamic banking, resulting from its singularities, in the European and Czech legal framework. In the introduction, the author shortly describes theoretical principles of Islamic banking and ways in which contemporary practices of Islamic banks have deviated from these principles. The next part of the thesis lays out individual characteristics of Islamic banking. Using the examples of specific finance models (especially Murabaha and Musharaka financing), these features are assessed from the viewpoint of their compliance with legal regulation of banks and their activities. The process in which a bank provides financing to its clients by acquiring and disposing assets, which such financing applies to, is considered to be the most disputable element of Islamic...
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