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On Supervision of Financial Markets by Czech National Bank
Skácelík, David ; Marková, Hana (advisor) ; Kohajda, Michael (referee) ; Švarc, Zbyněk (referee)
1 Abstract This work deals with the performance of supervision over the financial market and the entities operating in the financial market. Part of the work is devoted to consumer protection in the financial market and compensation systems. Because of the fact that the Czech Republic became a member of the European Union in 2004, this work includes also legislation of regulation and supervision of this level, as this treatment significantly predetermines Czech adjustment. Following questions were examined as an example of protecting the interests of clients of supervised entities: - whether there are any tools to protect the client's interests at the level of supervised entities, - what kind of role the supervisory authority has or may have in relation between a supervised entity and its client, - how are the client's financial interests protected in the event of failure of the supervised entity and whether this protection is de lege lata sufficient. The theoretical part of the work briefly describes the institute of supervision, its assorting and forms. The authority of supervisor is discussed in the next part together with the regulations under which the supervision is conducted. Owing to the fact that the scope of supervisory activity of the Czech National Bank is quite extensive, and the objective of...
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On Supervision of Financial Markets by Czech National Bank : (focused on Consumer Protection in the Financial Markets)
Skácelík, David ; Marková, Hana (advisor) ; Kohajda, Michael (referee) ; Švarc, Zbyněk (referee)
1 On Supervision of Financial Markets by Czech National Bank (focused on Consumer Protection in the Financial Markets) This work deals with the consumer protection in the financial markets in the Czech Republic. The opening part of this thesis briefly describes the situation in Czech(oslovak) legislation before 1989. The governing system was not at that time conducive to significant economic activity and the scope of financial markets was limited. As a consequence, legislated protection of market participants had not to be extensive. Need for consumer protection increased after the then-prevailing economic model had been changed into the current market-oriented model. The expansion of economic activities, including the development in the financial markets, necessitated simultaneous passing of updated law more suited for the new social circumstances. Owing to the preparation of the Czech Republic's entry into the European Economic Community at that time, it was necessary to harmonize the new Czech law with the laws of the Community. Besides the change of the "Code civil" as a basic regulation of private law, new specific regulations have been passed - for example the Consumer Protection Act or the Consumer Credit Act. In connection with the formation of capital markets, it become necessary to issue entirely...
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On Supervision of Financial Markets by Czech National Bank
Skácelík, David ; Marková, Hana (advisor) ; Kohajda, Michael (referee) ; Švarc, Zbyněk (referee)
1 Abstract This work deals with the performance of supervision over the financial market and the entities operating in the financial market. Part of the work is devoted to consumer protection in the financial market and compensation systems. Because of the fact that the Czech Republic became a member of the European Union in 2004, this work includes also legislation of regulation and supervision of this level, as this treatment significantly predetermines Czech adjustment. Following questions were examined as an example of protecting the interests of clients of supervised entities: - whether there are any tools to protect the client's interests at the level of supervised entities, - what kind of role the supervisory authority has or may have in relation between a supervised entity and its client, - how are the client's financial interests protected in the event of failure of the supervised entity and whether this protection is de lege lata sufficient. The theoretical part of the work briefly describes the institute of supervision, its assorting and forms. The authority of supervisor is discussed in the next part together with the regulations under which the supervision is conducted. Owing to the fact that the scope of supervisory activity of the Czech National Bank is quite extensive, and the objective of...
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On Supervision of Financial Markets by Czech National Bank : (focused on Consumer Protection in the Financial Markets)
Skácelík, David ; Marková, Hana (advisor) ; Kohajda, Michael (referee) ; Švarc, Zbyněk (referee)
1 On Supervision of Financial Markets by Czech National Bank (focused on Consumer Protection in the Financial Markets) This work deals with the consumer protection in the financial markets in the Czech Republic. The opening part of this thesis briefly describes the situation in Czech(oslovak) legislation before 1989. The governing system was not at that time conducive to significant economic activity and the scope of financial markets was limited. As a consequence, legislated protection of market participants had not to be extensive. Need for consumer protection increased after the then-prevailing economic model had been changed into the current market-oriented model. The expansion of economic activities, including the development in the financial markets, necessitated simultaneous passing of updated law more suited for the new social circumstances. Owing to the preparation of the Czech Republic's entry into the European Economic Community at that time, it was necessary to harmonize the new Czech law with the laws of the Community. Besides the change of the "Code civil" as a basic regulation of private law, new specific regulations have been passed - for example the Consumer Protection Act or the Consumer Credit Act. In connection with the formation of capital markets, it become necessary to issue entirely...
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