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Legal Aspects of the Creation of the Insurance Product
Kult, Alexander ; Vybíral, Roman (advisor) ; Karfíková, Marie (referee) ; Dřevínek, Karel (referee)
4 Legal Aspects of the Creation of the Insurance Product Abstract This dissertation deals with the legal aspects of creation of insurance products, including the rules of their distribution and fulfilment of information duties. The author's aim was to interconnect the public and private law regulation of insurance and its distribution, with a focus on the creation of valid contractual documentation and the proper fulfilment of information duties, for the purpose of a practical understanding. Specific attention is focused on the area of personal insurance, both in the scope of life and non-life insurance sectors. Special emphasis is placed on the explanation of insurance-based investment products, whose nature and fragmented regulation pose the most significant practical and theoretical problems. Apart from the theoretical introduction, the thesis is divided into six parts. The first part is devoted to the essence of individual insurance products and their specifics. The second part deals with the theoretical definitions in the field of insurance law. In the third part, the author analyses the rules of creation of insurance products not only regarding the POG regulation, but also in the light of the Insurance Act and the Solvency II Directive. The fourth part discusses the rules of insurance distribution,...
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Securities and Financial Derivatives Income Taxation in SelectedCountries of the European Union
Ondrušek, Dávid ; Karfíková, Marie (advisor) ; Kohajda, Michael (referee) ; Dřevínek, Karel (referee)
Securities and Financial Derivatives Income Taxation in Selected Countries of the European Union Abstract The aim of the dissertation, dealing with the topic of taxation of income from securities and financial derivatives, is to summarize the theoretical basis of this topic and compare the methods and possibilities of taxation of income from securities and financial derivatives in selected countries of the European Union and outline development trends in this area. The author's intention is to search for, identify and describe similar and different components of the financial and legal framework for taxation of income from securities and financial derivatives. In the first chapter of the dissertation I will state the objectives of the dissertation, methods of scientific work and methodology of the dissertation, I will specify the objectives and methodology of the dissertation, the main objective of the dissertation and partial objectives of the dissertation and methodology of the dissertation together with a description of scientific methods used in the dissertation. . The second chapter of the dissertation will focus on the financial and legal context of the financial market, capital market and derivatives market of the European Union and selected member states of the European Union. In it I describe the...
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Transaction with securities and their legal regulation
Reiterman, Dávid ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Resume: The aim of my thesis is to define the area of investment banking and point out its specifics in terms of Czech life and institutions in carrying out securities transactions by way of analyzing relevant legislation, its doctrinal interpretation, supplemented by some practical conclusions drawn from relevant case law and opinions of regulatory bodies. The thesis is divided into three separate parts. The first part tries to grasp theoretical concepts used in the title of this work. The definition and nature of security is essential for its later usage in terms of operations which are performed with such securities by investment banks. Types of such operations are defined by various investment services which determine the extent of investment banks' scope of business. In addition to those investment services, the Czech regulatory environment also addresses the status of investment banks whose different models (in terms of their functioning) can lead to terminological questions of why some investment banks are not a bank in a legal sense. The above provides a basis for the second part of my thesis, which is concerned with an analysis of respective securities operations that are usually carried out by investment banks operating in the Czech Republic. These operations are linked together and are often...
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Funds for qualified investors
Řeháčková, Hana ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Funds of qualified investors Recent events in the financial world emphasize the need to understand institutions and instruments of capital market. From that reason I have chosen the area of funds of qualified investors. The aim of my thesis is to examine the treatment of funds of qualified investors, to characterize the main changes the funds have come through and to carry out a comparative analysis of similar funds which are intended for professional investors abroad and to focus on strict European legislation in this area which has an effect on the Czech funds of qualified investors and assess influence of the legislation on them. The thesis is structured into six chapters, each of them dealing with different aspects of the funds of qualified investors. The first chapter is introductory and introduces basic terminology of the subjects of collective investment; the chapter is divided into three subchapters. Subchapter one describes collective investment in the context of financial market, the second subchapter concerns the main principles of collective investment and in the third subchapter there are explained advantages and disadvantages of collective investment. The second chapter introduces the legislation of collective investment in the Czech Republic; it is also divided into three...
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Financial market supervision
Balvínová, Helena ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Dřevínek, Karel (referee)
This thesis deals with supervision over the financial market and its legal framework. I chose the topic because I have always been interested in the issue concerning the financial market. This thesis enables readers to get familiarized with the current situation of the financial market supervision in the Czech Republic, European Union and three member states of European Union, i.e. United Kingdom, France and Slovakia. The Chapter One is an introduction to the theme. The second chapter deals with the basic terms used in the thesis as financial market, supervision, inspection etc. It is a theoretical part of the thesis. The third chapter examines relevant legislation of the European Union and it is dedicated to the EU financial supervision. A new structure for EU financial supervision was agreed in 2010 following the adoption of the de Larosière report in November 2008. At the beginning of 2011 the European Systemic Risk Board (ESRB) and three European Supervisory Authorities (ESAs) were established. The purpose of the new structure is to ensure effective surveilance of the EU financial market. The ESRB is responsible for monitoring and assessing potential threats to the stability of the financial system. It can issue risk warnings when necessary, and can make recommendations for remedial action,...
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Supervision over the financial market
Škapa, Václav ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Financial Market Supervision Significance of financial market as a part of modern economy is undisputable. Financial market serves as mediator of important economic procedures. Its specific character constitutes a need of unusual approach in its regulation and supervision. In general, regulation is goal-directed effort to construct consistent framework of rules, which moderates behavior of regulated entities. Supervision is continuous inspection of such behavior and penalizing infringements of defined rules. This paper's intention is to contribute to debate on purposes, means and extend of execution of financial market's regulation in Czech Republic. Nature of financial market, especially its progress dynamic, makes this intention difficult to fill. Every specific financial market requires unique solution of regulation framework's construction. Nevertheless similar trends can be recognized on them. This partial conformity enable to create several types of regulatory framework, which can be applied to number of markets. Law is a basic instrument of financial market's regulation. Economic nature of financial market necessitates consistent comparison of legal acts' interpretation with market's true needs. Flexibility of regulation framework is crucial factor of its efficiency. Its system should be able to...
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Providers of investment services in the Czech capital market
Kropíková, Jana ; Kotáb, Petr (advisor) ; Dřevínek, Karel (referee)
Providers of investment services are investment firms, investment firms providing investment services in a different member state than in the Czech republic, investment firms providing investment services in the Czech republic, investment intermediaries and tied agent. These subjects are entitled to provide investment services at the czech capital market. In order to ensure high level of protection of investors and transparency and safety of dealing at capital market, there are plenty of requirements set for such providers. they should secure that investment services are provided by persons with sufficient skills and financial and technical background. Furthermore a supervisory authority, Czech national bank in the Czech republic, supervises over their activities. For this reason Czech national bank grants a permition for investment firms, registers investment intermediaries and enlist tied agents into a list of tied agents. Providers of investment firms are obligated to perform wide information obligation towards Czech national bank. The Markets in Financial Instruments Directive (MiFID) brought significant changes to czech capital market. Transposition of MiFID into czech law influences majority of rules dedicated to capital market regulation. The key category which affects investment firms first...
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