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The Markets in Financial Instruments Directive and its application to the capital market of the Czech Republic
 Janeček, Petr ; Seknička, Pavel (advisor) ; Tomažič, Ivan (referee)
Application of MiFID on the czech capital market In this work we describe and analyze evolution of Czech capital market and crucial changes which are caused by implementation of Markets in Financial Instruments Directive (MiFID) to the Czech legal system. We use the interdisciplinary (legal and economic) approach when studying this subject. Firstly, we discuss the relation and difference between definitions "capital market" and "financial market". The interest is also focused on use of this terms in legal system. Then we describe basic changes in the historical evolution of the Czech capital market. In this section, we focuse our interest on the institutions which represent supervisory authority of the capital market. This historical chapter is structured on three basic periods: evolution of the capital market from its beginnig to the restauration in 1993, period of coupon privatization and the period of creation of diferent institutions which supervisored the Czech capital market. Further, the development of Czech legal system concerning the capital market is described. This section is divided in two separate parts - evolution of Czech and EC law. Lastly, we target our interest on the implementation of the Direction in the Czech legal system which constitute the base of this work. This chapter contains the...
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