|
|
Legal regulation of payment transactions
Roušarová, Kristýna ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This diploma thesis deals with the issue of legal regulation of cashless payment transactions in the Czech Republic, as well as on European and international level. Furthermore, it focuses on the legal regime of payment accounts in the light of the amended Payment System Act No. 284/2009 Coll. that was adopted as a transposition of the Directive 2014/92/EU of the European Parliament and of the Council on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features. The aim of this thesis is to analyze and describe the current legal regime, including its critical evaluation and to outline the possible future development in the regulation of cashless payment transactions. The thesis is divided into three chapters. In the introduction, the author lays down the topic and the aim of the thesis and explains her motivation for writing a thesis from this area of law. The first chapter contains a theoretical introduction to the topic. The author explains what is a payment transaction, what forms can it take and who are the parties. In the second chapter, the author introduces the legal regulation of cashless payment transactions. In the subchapter dedicated to international payment transaction, the author explains how do the...
|
|
|
Regulation of Trading in OTC Derivates
Matys, Tadeáš ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
This thesis addresses the current, ever-developing framework of rules governing trading in the most widespread financial instrument - OTC derivatives. The main objective of the thesis is to analyse the current state of the regulation of trading in OTC derivatives within the EU - namely, the EMIR Regulation. Subsequently, it examines whether the legal framework has been set up properly and effectively, and explores what steps should be taken in the near future in order to improve it. Given that the subject of this thesis is much more of an economic than a legal nature, its first part introduces OTC derivatives as a concept, and the specifics of trading in them. The second part examines the status of OTC derivatives within the financial market over time, starting from their modern-day beginnings in the 1990s, through their role in the global financial crisis of 2007 and 2008, to the current issues related to them. The main part of the thesis is devoted to the EMIR Regulation, its scope of application, and in particular the three main obligations which EMIR introduces in relation to OTC derivatives. These comprise, firstly, the obligation to perform a central clearing through central counterparties; secondly, the obligation to observe specific risk mitigation techniques for OTC derivative contracts...
|
|
|
Alternative financing of small and medium-sizes enterprises
Vacula, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Alternative financing of small and medium-sized enterprises This thesis analyses whether the legal framework, both present and envisaged, regulating securitisation and crowdfunding is likely to improve the access of small and medium-sized enterprises to financing. The first chapter focuses on securitisation, with a particular focus on securitisation of SME loans. In doing so it evaluates the costs and benefits associated with securitisation, as well as securitised assets and the products of securitisation. The following part describes the mechanism of both a true sale and a synthetic securitisation. The key part of the chapter, however, deals with the legal framework regulating securitisation as well as each individual step of a securitisation transaction, and analyses several issues that may arise under Czech law in relation to securitisation. Next, the proposal for the securitisation regulation, which proposes criteria for qualified securitisations, is introduced. This chapter concludes with an evaluation of the said proposal and presents a level of scepticism as to its intended positive impact on SME financing. The second chapter deals with crowdfunding. After a general introduction into crowdfunding and its various business models, the rest of the chapter focuses on financial crowdfunding, i.e....
|
|
|
Legal regulation of the activities of banks
Dudrová, Kateřina ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This diploma thesis deals with the regulation of the activities of banks, which has already been relatively extensive but as a result of the most recent financial crisis, it has been extended by new rules and requirements. The aim of this thesis is to clarify the essence of the basic obligations of the banks related to the entry into the banking sector and to working in the sector, and last but not least to leaving the sector and to the termination of the banking activity. All these obligations are then amended by new requirements for crisis management and the insurance of deposits, which are also based on prudential and precautionary principles and aim at maintaining the security and stability of the banking sector. This thesis is divided into six individual chapters but they are connected with each other. The initial chapter defines the key concept of this thesis, namely the concept of the bank from the legal perspective because the legal definition of the bank is slightly different than the economic definition. This thesis as well enumerates the forms of legal regulation that can be used in this area of law, whether it concerns directly applicable European legislation, primary or delegated legislation or non-binding statements and recommendations of regulators. Then the following chapters deal...
|
|
|
Comparison of the legal regulation of crypto-currency in Switzerland, the United States of America and Japan
Yakimenka, Aliaksandr ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Resume In my graduation thesis I concentrated on the comparative characteristics of the legal regulation of crypto-currency in three countries: Switzerland, the United States of America and Japan. Because it is a very crucial and challenging topic today and many governments are trying to find the solution for it. These countries and their legal regulations are considered to be the best in the world in many aspects, that other countries are trying to be equal to and they took leading position in the creation of the legal base for crypto-currency. The goal of my graduation thesis is to provide comparative analysis of the legal regulation of crypto-currency in the countries that I selected. This problem was solved by wide spread usage of laws and regulations of these countries, internet resources that are studying this question as well as the knowledge obtained during my studies at the faculty. Comparative, descriptive and synthetic-analytical methods were used to resolve the given problem of my thesis. My graduation work is divided into parts for easier comprehension of such complicated and specific topic. The thesis includes introduction, the first part which gives general knowledge about the crypto-currency, the second part which is dedicated to the principals of crypto-currency functioning, Bitcoin is...
|
|
|
Legal regulation of payment transactions
Martiník, Pavel ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Topic: Legal Regulation of Payment Transactions Author: Bc. Pavel Martiník Supervisor: JUDr. Petr Kotáb, Ph.D. Regulation of payment services plays a key role in this era driven by escalating digitalization. The aim of this Thesis is to depict current challenges that this area of financial law faces and to propose a basis for regulation that can be implemented in the Czech Republic. The main topic of this Thesis is virtual currencies, more specifically Bitcoins and their status within the system of payment services regulations. After a short introduction, the first chapter of this Thesis describes theoretical background of payment services regulation, especially general and specific aims of legislation in this area of financial law, by addressing it in full context of private and public law. Besides that, it also briefly illustrates the history of payment services and money. The next chapter deals with current regulation that has been adopted in the Czech Republic. Besides virtual currencies, electronic money is discussed in full detail due to its similar features with virtual currencies. Furthermore, foreign regulation of payment systems is briefly described in order to provide a comparison with the Czech Republic. Therefore, both Czech and foreign regulations dealing with virtual currencies that...
|
|
|
Forms of organisation of investment funds
Bátovská, Petra ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The aim of this diploma thesis is to present a systematical view on basic aspects of forms of organisation of investment funds in the light of the Act No. 240/2013 Sb, on Investment Companies and Investment Funds with main focus on those of them which are regulated within the legal system of the Czech Republic in the most comprehensive and specific manner and to simultaneously analyze advantages (eventually disadvantages) regarding application thereof. The first chapter deals with elementary issues of mutual funds, describes its assets and detriments and also offers brief historical overview of its development in Czech legal system from its beginnings until current regulation which mainly lies in harmonization with the legislature of European Union. The aim of the second chapter is to define the term of the investment fund according to current legal regulation in comparison to its definition pursuant to the previous one. Furthermore, it outlines basic classification of investment funds in accordance with their division based on the place of business, legal personality and number of investors. The third chapter focuses on basic characteristics of collective investment funds, distinguishes standard collective investment funds and special collective investment funds and above all it enumerates...
|
|
|
Legal regulation of the activities of banks
Robotková, Pavlína ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The subject matter of this thesis is to approach prudential requirements for banking activities in the Czech Republic. Taking into account the importance of the banking sector in the economy of each country, this area is widely regulated by directly applicable European legislation, for example by new regulation (EU) No. 757/2013 of the European parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms. National regulation is contained mainly in Act No. 21/1992 Coll., on Banks, as amended. Particular chapters of this thesis focus first on general introduction to banking, i.e. a description of the banking systems and institutions operating in them. One part is devoted to the Czech National Bank as the institution of the financial market supervision. The main part describes specific rules of banking activities, beginning with requirements for obtaining a banking license. Finally are mentioned financial safety net and the issue of the doctrine too- big-to-fail. Diploma thesis tries to connect the theory and the legislation with the practical functioning of supervision. For this purpose are used statistical data, certain decisions of the Czech National Bank and information from the Report on the performance of financial market supervision, the...
|
|
|
Law principles applied in Islamic banking
Vojtěch, Jakub ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
TITLE: Law principles applied in Islamic banking AUTHOR: Jakub Vojtěch DEPARTMENT: Department of financial law and financial science THESIS SUPERVISOR: JUDr. Michael Kohajda, Ph.D. ABSTRACT: This paper aims at starting a deeper academic discussion of the most fundamental principles of Islamic banking and their application. Ther term "Islamic banking" denotes the banking services in compliance with Islamic law and is nowadays a rapidly expanding, global industry based on a traditional fourteen centuries old legal system. The text explains the basic special requirements (Halal, Riba, Gharar, Majsir, Shiraka, Shari'ah Board) for Islamic banks both in terms of defining and describing these principles as well as giving examples and considering acceptability of conventional products from the Islamic point of view. The study serves as a contribution to debate on the new academic and business field of Islamic banking where I am trying to depict the key and distinguishing features of this banking model, provide a comparison of functioning with the conventional counterpart and give some examples of various types of Islamic banking products. Effort has been made also to offer an overview of the Islamic ethical economy which is the philosophical basis for the Islamic banking model and to describe development and...
|
|
|
Bitcoin - Legal Aspects and Regulation
Moravec, Jiří ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
in English The motivation for this thesis is to analyze Bitcoin as Bitcoin is still a new phenomenon and requires an economical, legal, and legislative evaluation. In this thesis we seek an answer to the question what is Bitcoin. This thesis is divided into three main blocks, within them we use analytical, descriptive, and comparative methods. In the first part, we aim mostly on the economic side of Bitcoin, comparing Bitcoin to money in general sense. In the second part, we argue whether Bitcoin shall be considered a thing in a legal sense under the Czech law. In the third part, we describe the current Bitcoin's regulatory situation and suggest a drafting of Bitcoin specific regulation. The conclusion of this thesis is that Bitcoin is a digital medium of exchange that cannot be considered money or currency. To the extent, Bitcoin might be interpreted in ways where it does not satisfy the legal definition of a thing in legal sense, but for regulatory purposes it shall be, at least for now, considered a thing in legal sense. We also suggest that Bitcoin shall be systematically regulated by imposing various duties on persons who's scope of business is relating to the Bitcoin.
|
guest ::
