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The legal and economic aspects of the supervision of the credit union sector in the Czech Republic by the Czech National Bank
Valenta, Pavel ; Seknička, Pavel (advisor) ; Dupáková, Lenka (referee)
This thesis focuses on the legal and economic aspects of the supervision of the credit union sector in the Czech Republic by the Czech National Bank (CNB). The central point of interest is the case study of the credit union WPB Capital, which in 2014 had its operating licence revoked for illegal operations, namely the acquisition of prohibited securities and the provision of financial assistance to acquire additional member deposits, contrary to the CNB's interpretation. The work is based on the author's involvement in the case and uses authentic documents from the administrative proceedings and judicial review, as well as other relevant materials. The first part is devoted to the theoretical background of the financial market and credit unions. This is followed by an analysis of CNB supervision and a historical overview of the development of credit unions in the Czech Republic. The legal framework and instruments are then discussed in the context of the WPB Capital case study. The aim of the paper is to assess the compliance of the activities of the examined entity with the law and European legislation and to evaluate the justification of the CNB's action. The thesis emphasises theoretical analysis and practical applications, including comparison with other credit unions and current case law....
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Financial Innovation
Davydova, Uljana ; Dupáková, Lenka (advisor) ; Seknička, Pavel (referee)
This is a vast and highly abstract topic, therefore this thesis is based on an effort to firstly approach the issue of innovation in financial markets by describing them and giving examples of Fintech companies in the first part of this thesis, with the intention of highlighting the importance and relevance of this topic, followed by their technological, economic and legal analysis, which from my point of view cannot be completely separated. In the second part, I focus on some of the technologies enabling the current development. In the third part, using the information presented in the second part, cryptocurrencies are described and analyzed from a technological and economic perspective, which is followed by the analysis of their legal regulation at national and supranational levels. In the future, the MiCa regulation will certainly be a topic of interest for the professional community, but it will not come into full effect until the beginning of 2025. Crowdfunding, which is the subject of the fourth part, is quite common in the United States, but in the Czech Republic, from my point of view, it is not widely known to the general public, although many successful fundraisers have already taken place. Its legal regulation at the level of the European Union, and therefore also the Czech Republic, is...
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Formal and informal regulation of advertising in the Czech Republic
Kutáková, Petra ; Seknička, Pavel (advisor) ; Hraba, Zdeněk (referee)
Focusing on the Czech Republic's current reality, the paper describes basic relations between legal (formal) and other (informal) ways of regulation of advertising. Having covered basic marketing and advertising terminology and legal definitions of essential advertising terms, it further generally describes the principles of both formal and informal regulation of advertising. Formal regulation is represented by European Union rules focusing on general advertising regulation and consumer protection. The description of the Czech Republic's current legal regulation consists in a list of most recent laws in the area of public (constitutional and speficic laws) and private (civil and business) law. Moreover, areas such as business ethics, ethics in management, its principles, methods and tools are presented, ethical codices being the focal point here and basis for further analyses in the following parts of the paper. Informal regulation is based on business and professional ethics and further develops the idea of ethical codices when describing the principles of self-regulation as the most important informal regulatory system. The principles of self-regulation of advertising are divided into two groups: theoretical and applied. The latter are based on the rules declared by international self-regulation...
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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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Legal and economic aspects of capital market regulation
Maczvalda, Ladislav Josef August ; Seknička, Pavel (advisor) ; Bažantová, Ilona (referee)
The diploma thesis deals with the issues related to capital market regulation from a more complex point of view. The capital markets represent a significant part of market mechanisms in the developed market-economy countries. They act as a significant means of transfer as well as material artifacts re-allocation. Understanding of capital market in the quality of an interdisciplinary phenomenon is the point of departure. The individual approaches that we have chosen in order to grasp the subject of capital market regulation are the following: law, economics, ethics, and on a limited basis, psychology. The intention is to catch legal regulation (reactive) on the one hand - executed institutionally (provided by the authority of state), and on the other hand a form of regulation represented by the proactive self-regulation approach based on ethical values - the approach of psychology representing a transitional mechanism - with this all set in the context of economic reality and its specific approaches to regulation. The diploma thesis reflects the recent years developments - partly the financial crisis, then the financial market globalisation and internationalisation as well as the Czech Republic integration into European structures. The analytical and descriptive focus prevails in the diploma thesis....
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Economic and legal aspects of a certified auditor's activities
Karban, Vojtěch ; Pokorný, Jan (advisor) ; Seknička, Pavel (referee)
Diplomová práce Ekonomické a právní aspekty auditorské činnosti se zabývá činností auditora. První kapitola se věnuje právní regulaci auditorské činnosti, tj. zákonu č. 93/2009 Sb. Jelikož zákon nabyl účinnosti dne 14.4.2009, jedná se o téma navýsost aktuální. Práce detailně popisuje jednotlivé instituty nového zákona jako je Rada pro veřejný dohled nad auditem, subjekty veřejného zájmu, zabývá se podmínkami pro výkon auditorské činnosti. Pozornost je věnována i zvýšeným nárokům na chování auditora jako jsou etika, nezávislost a mlčenlivost. Významný prostor je věnován i Komoře auditorů ČR jako jediné samosprávné organizaci zastřešující všechny auditory či auditorské společnosti. Závěr právní části je věnován zhodnocení současného právního stavu a nástinu možného dalšího vývoje, kde autor zaujímá stanovisko k této úpravě. Druhá kapitola, nazvaná Ekonomické aspekty auditorské činnosti, se zabývá popisem auditorské činnosti doprovázený mnoha praktickými příklady, tj. popisem práce auditora na jednotlivých zakázkách. V této práci nejsou popsány všechny aspekty auditorské činnosti. Pozornost je zaměřena na nejdůležitější z nich. Struktura této kapitoly kopíruje sled auditorských prací. Postupně popisuje obecné cíle auditora, plánování auditu, identifikace a vyhodnocení rizik při auditních zakázkách,...
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