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European insurance regulation
Bodiš, Michal ; Kunertová, Tereza (advisor) ; Exner, Jan (referee)
The topic of the submitted work is consumer protection in European insurance regulation. In particular, it examines product governance and oversight. The first part is devoted to the definition of the term consumer, as it is the key concept of this thesis. It also includes a definition of consumer protection. The second part of the thesis deals with the historical development of consumer protection in the European Union. In particular, attention is paid to the shift from a virtual absence to the inclusion of consumer protection in the Charter of Fundamental Rights of the European Union. It also examines current consumer protection policy. This part is followed by the development of insurance regulation in European legislation. It shows the gradual trend towards convergence and the creation of a genuine internal market that does not impose unnecessary barriers on its competitors. This section is followed by an analysis of the consequences of the 2008 financial crisis for the insurance sector in terms of institutional arrangements for the supervision of the sector. This section concludes with an analysis of the Solvency II Directive and its impact on consumer protection. The thesis also focuses on consumer protection in insurance distribution. It compares the two most recent directives that have...
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Information obligations of financial market entities towards the Czech National Bank
Havlovicová, Jaroslava ; Vybíral, Roman (advisor) ; Kotáb, Petr (referee)
Information obligations of financial market entities towards the Czech National Bank Abstract The information obligations imposed on financial market participants are one of the most important mechanisms for supervisors to properly exercise their powers. In the absence of information obligations on financial market participants, regulation of their activities would be 'blind'. The thesis aims to provide a thorough presentation of the theoretical foundations on which the information obligation is based. It characterises the supervisory authorities at national and EU level, defines their powers and the tools used by obliged entities to provide information. On the other hand, the characteristics of each group of obliged entities and the legal framework of their activities are defined. At the same time, the work does not neglect the closely related issue of consumer protection, which is a significantly weaker party in the environment of financial markets in the legal relations arising here. The rigorous thesis focuses in detail on the legal regulations embedding the information obligation into the Czech legal system, in particular the laws regulating specific sectors of the financial market and the sub-legal regulations of the Czech National Bank, on the basis of which the obliged entities fulfil their...
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Consumer Protection in the area of Online Payments made by Payment Cards
Mikulka, Tomáš ; Švestka, Jiří (advisor) ; Pohl, Tomáš (referee)
This thesis analyses the legal frameworks governing consumer protection in the area of online payments made by debit and credit cards in the Czech Republic, the United Kingdom and the United States. The relevant legal provisions of the European Union are analysed as well. The thesis is divided into three chapters. The first chapter deals with consumer protection in the area of online payments made by debit cards. This chapter focuses on the liability for any unauthorized payment transactions made by debit cards and the cases of no consumer's liability, limited consumer's liability and unlimited consumer's liability are discussed there. It is also concerned with the issues of authorization of payment transactions made by debit cards, the limitations on the use of debit cards, specific obligations of both the consumer and the payment provider concerning the use of debit cards, the burden of proof and notification of unauthorized payment transactions made by debit cards. Finally, the legal frameworks of countries mentioned above dealing with consumer protection in the area of online payments made by debit cards are compared. The second chapter deals with the same topics as the first chapter, however, it is from the perspective of consumer protection in the area of online payments made by credit cards....
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Regulation of consumer credit
Janeček, Miroslav ; Kohajda, Michael (advisor) ; Vybíral, Roman (referee)
Regulation of consumer credit Abstract (English) Consumer credit is a legal institute and an economic instrument that allows consumer to pay funds that he does not currently have, when purchasing goods or services. Its importance is significant in the consumer society, so its provision and distribution must be regulated. Paragraph 2 of the current Consumer Credit Act No. 257/2016 Coll. defines consumer credit as a deferred payment, a cash loan, credit or similar financial service provided or intermediated to the consumer. The subject of this rigorous work is the analysis of the current regulation of consumer credit in relation to the adoption of the new Act No. 257/2016 Coll., On Consumer Credit, which implements the Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property. The legislator decided to consolidate the regulation of consumer credit into one rule, so the new act also implements the Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers. The new act thus represents a complex regulation covering both the provision and intermediation of consumer credit and the rights and obligations arising from mortgage credit agreement and...
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Financial arbitrator
Jendrulková, Anna ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
Financial Arbitrator The legislative introduction of the institute of Financial Arbitrator as the relevant authority for settling out-of-court disputes into Czech law is a relatively new phenomenon, and is related to the interests of consumer protection within the European Union. In particular, the interests of the European Union in this area are to reinforce consumer confidence in the financial market. Given the fact that the majority of consumer disputes are so-called petty disputes, and resolving these disputes before the national courts is too lengthy and costly for consumers, the European Union has placed a duty upon its Member States to introduce the option for consumers, in case of any possible disputes, to be able to turn to the out-of-court dispute settlement authority for assistance in selected areas of the financial market. Any proceedings heard before such authority are free-of-charge and less formalized, thus enabling consumers greater accessibility in protecting their rights against institutions operating in the financial market. The first chapter describes the reasons for the institution of Financial Arbitrator, i.e. it is exactly for the purpose of consumer protection, which should result in increased consumer confidence in the financial market, and the possibility to enforce one's...
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Consumer contracts
Švihelová, Zuzana ; Švestka, Jiří (advisor) ; Salač, Josef (referee)
The purpose of my thesis is to analyse issue of Consumer Contract Law in the Czech Republic in the context of European Law. The thesis is composed of six chapters, each of them dealing with different aspects of Consumer law. Chapter One is introductory and offers the general point of view on discussed topic, my personal motivation for choosing it. Chapter Two is divided into two parts. Part One sums up very short history of Consumer law, Part Two focuses on European consumer law and on direct influence on the Czech legislation. Chapter Three is the principal chapter in my thesis, because it defines basic terminology of Consumer Law: consumer contract, consumer and supplier. The chapter is subdivided into three parts- one part for one term. In Part One the question of creating the contract, e-shops and special contractual types according the Civil Code are also discussed. Subject is treated in the context of both Czech and European Law with relevant case law. Chapter Four is subdivided into two parts and provides an outline of relevant Czech law in the branch of Consumer protection. Part One illustrates the Consumer protection based on the Czech public law (mainly Administrative and Criminal Law). Part Two is more important for my thesis and looks at Consumer protection with respect of private law...
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Development of financial literacy
Stárková, Zuzana ; Krahulcová, Beáta (advisor) ; Zelinková, Olga (referee)
STÁRKOVÁ, Zuzana, Development of financial literacy, Prague, 2012. Zuzana Stárková - Charles University in Prague - Husitská teologická fakulta. Supervisor, Prof. PhDr. Beáta Krahulcová, CSc. Main topic of the diploma thesis is financial literacy, more specifically the risk of its consequences. First part of the thesis deals with definition of financial literacy, its causes and consequences. Next chapters are devoted to monetary literacy, ignorance of which causes many problems in the area of credits, loans and subsequently may lead to indebtedness. This part of the text defines important key words, whose knowledge in essential for using of banking services and products Last chapters of the theoretical part introduce the Consumer Protection Act and the issues of seizures and insolvency. Main objective of the practical part of the thesis is to carry out a research among university students in order to summarize the level of their awareness, knowledge and experience in the financial area.
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Current issues of consumer protection in electronic communication
Černá, Milena ; Svoboda, Pavel (advisor) ; Šmejkal, Václav (referee)
Consumer protection is an issue affecting a very broad group of citizens of the European Union. EU reflects customer protection in all its policies. I have focused on electronic communication because of my work experience in that field. In my thesis I am trying to compare my experience with valid legislation. In addition, electronic communication services are used by European consumers every day widespread through society. I have tried to follow the development of EU legislation in electronic communication sector focusing on consumer protection. This topic is very closely connected with price regulation and the whole situation on the electronic communication market. My goal is to define main problems of legislation by using case law and my knowledge from practice. In the first chapter of my thesis, I focus on general consumer protection in EU, which is applicable to all contracts concluded by consumers (unfair terms, contracts negotiated away from business premises etc.). I am pointing out issues I encountered in practice. I also compare implementation of EU legislation by EU member states. Second chapter of my work is concerned with EU regulatory framework of electronic communication valid from 2003 to 2009. I aimed at legislation related to consumer protection. I focused on main problems of the...
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Consumer protection in arbitration
Šimeček, Jan ; Zoulík, František (referee) ; Pohl, Tomáš (referee)
Arbitration is generally accepted as extremely fast and efficient way for alternative dispute resolution. But many experts did not consider it an appropriate or even legal instrument for resolution of disputes arising from consumer obligations. Therefore, in my rigorous thesis I analyze existing legal regulation of arbitration in consumer cases in the Czech Republic. I work primarily with the most discussed issues of regulation and their answer of professional public or interpretative judgment of the Supreme Court. Then I provide comparison often very different approaches to different aspects of regulation of arbitration that are included in foreign jurisdictions. Based on these established facts, then I critically assess the proposed legislative changes impacting on the investigated area. This rigorous thesis should include a balanced view of the current legal and factual situation of a Czech arbitration of disputes in consumer contracts. Description of the legislation would not be complete without the considerations de lege ferenda and evaluation of major trends, which would consumer protection in arbitration, could evolve in the future.
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Over-indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives
Řezáčová, Lucie ; Veselý, Arnošt (advisor) ; Čabanová, Bohumila (referee)
The thesis "Over-Indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives" deals with the issue of over-indebtedness of households with regards to consumer loans, specifically in the Czech Republic. Over-indebtedness is currently a very real and serious issue. The author attempts to tackle what is a relatively complex issue. The objective of the thesis is to demonstrate that over-indebtedness is a significant problem and analyse the myriad factors that contribute to it. Finally, possible solutions to the problem are explored. The author exhibits a variety of data to measure over-indebtedness in addition to determining the various causes, namely individual economic factors, such as sudden unemployment, and financial imprudence, which can be attributed to individual psychology or low financial literacy. Additionally, the unfair and even loan-sharking practices adopted by some loan providers and brokers along with the problematic process of debt enforcement, which contribute to over-indebtedness are described in detail. Based on the identified drivers, the thesis proposes specific tools to address the problem, with particular emphasis on regulating providers, and analyses their advantages and disadvantages. Further to the regulatory instruments, the thesis also stresses the need to...
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