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Inside information abuse in light of Market Abuse Regulation
Blažek, Václav ; Martiník, Pavel (advisor) ; Kotáb, Petr (referee)
Inside information abuse in light of Market Abuse Regulation Abstract The misuse of inside information is becoming an increasingly relevant topic with the progressive development of information technology and the growing popularity of investments by retail investors. There has been a continuous increase in issuers across the capital markets and at the same time, the total amount of funds invested in the capital markets by retail investors has also increased. There has been a corresponding increase in the amount of funds, whether managed through actively managed funds or by amateur investors. Naturally, however, this is accompanied by an increase in the demand for information and hence a greater number of efforts to outperform the average performance of the market as a whole and thus the relevance of the issue of insider trading. This thesis therefore aims to provide a more general insight into the economics and thus the theory behind the ban on insider trading. However, this topic needs to be linked, particularly for practical reasons, to the obligations placed on insiders, in particular issuers and other advisory firms that provide services to issuers. Because it is them, who have the greatest influence on whether this regulation will be effective in its merits. Therefore, this thesis also aims to...
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Duties of so-called quoted joint stock companies
Novotný, Marek ; Černá, Stanislava (advisor) ; Horáček, Tomáš (referee)
Duties of so-called quoted joint stock companies Thesis author: Mgr. Marek Novotný Thesis supervisor: prof. JUDr. Stanislava Černá, CSc. This thesis is concerned with the regulation of duties of quoted joint stock companies (especially the duty of information) and its various institutes. The purpose of this thesis is to describe the legislation in this area of law and its development, with emphasis on the transposition of European legislation, and subject them to critical evaluation. In the first chapter the theoretical framework is defined by describing key legal concepts (the term "quoted joint stock company", "regulated markets") and the development of the most important legal regulation in this area - Act No. 256/2004 Coll., on Business Activities on the Capital Market. The second chapter is devoted to regulated markets and subject information duty. The third chapter deals with the admission of a security to trading on a regulated market and associated initial information duty of joint stock company, which is willing to become quoted. I describe mainly the prospectus and its essential elements. In the fourth chapter I analyze in detail the different types of regular (periodic) information duties, which are the annual report, semi-annual report and interim report. The following fifth chapter is...
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Insider dealing and market manipulation
Crha, Jiří ; Hnilica, Jiří (advisor) ; Horník, Tomáš (referee)
The issue of capital market protection, especially from manipulation with financial instruments' prices and abuse of inside information, forms the content of this diploma thesis. After the legal introduction of market manipulation in EU directives and regulations, which gives manipulation relevant context, there follows the analysis of particular forms of manipulation, which can be used to influence prices of investment instruments. Then, analysis of impact of investment recommendation to selected stock prices (i.e. NWR, ERSTE and Telefónica O2), which are traded on Czech stock market RM-System, is performed. Final chapter of the thesis handles the analysis of some market manipulation and insider trading cases from the past, together with the discussion of impacts of stricter regulation of financial markets to their efficient functioning.
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