Czech Securities Commission

As of 1 April 2006, the activities of the Czech Securities Commission were taken over by the
Czech National Bank

The Czech Securities Commission ceased to exist from 1 April 2006

faq

• Are there regulatory or other restrictions on confidential information abuse?
  
  

  There are only restrictions for employees and executives of brokerage houses and management companies, especially strict prohibition of confidential information abuse and organisation barriers restricting the risk of confidential information abuse. A person who, due to his employment or profession, acquires confidential information is not allowed to make use of such information for his personal benefit or for the benefit of another person, namely to acquire or dispose of the capital market instrument which the information concerns. The particular restricitons are defined by employer´s internal rules that are approved by the Commission within the licensing procedure.

• Are there regulatory or other restrictions on the activities of brokerage houses employees to prevent conflict of interest?
  
  

  The Securities Act stipulates that the brokerage house is obliged to introduce in its operations such procedures and information and organisation barriers to restrict the possibility of any conflict of interests between it and its client or among its clients. The obligation is in detail regulated by Commission´s “Decree on Detailed Organisation Rules for the Internal Operations of Brokerage Houses and Detailed Rules for the Conduct of Brokerage Houses in Relation to Customers”.

• How is information on the activity of public company which may impact the market price of its shares disclosed to the market?
  
  

  Pursuant to §80 clause 2 of the Act on Securities, issuer is obliged to publish significant changes in financial situation or other facts wich can significantly infuence the price of securities or deteriotate his ability to fulfil obligations connected with securities. Pursuant to §80 of the Act on Securities, the issuer is also obliged to provide the public market organizer with all information necassary for investor protection or creation of functioning market.
  The information are published in a newspaper which is distributed all over the country, company website, reports of agencies. If the Stock Exchange accepts the securities for trading on the public market, than the information is also dislosed by Stock Exchange.

• When are public companies required to send annual report to shareholders?
  
  Issuers of listed shares have no legal duty to send annual reports to shareholders, only on request. The annual report is published pursuant to §77 of Securities Act, in the form of advertisement (in one or more newspapers wich must be distributed all over the country) or in the form of a brochure provided free at the company headquarters or at the office of Public market organizer. The annual report is provided to all participants of annual general meeting.

• Home
• Publications
  • Brochures - Archive as of 31 March 2006
  • Media releases - Archive as of 31 March 2006
  • Other information - Archive as of 31 March 2006
• Lists
  • List of Licensed Entities
  A list of financial instruments according to Article 11 of Commission Regulation (EC) No 1287/2006 Annual reports of issuers of listed securities
  • List of Auction Decrees
  • List of Take-over Bids
• Investor Assistance
  • Investor Guide to the Czech Capital Market
  • Opinions
  • Guidelines
• Investor Alert
  • General Information
  • Alert of Foreign Regulatory Authorities
• Useful Links
  • Governmental Links
  • Local Links
  • International Cooperation Links
  • Other
• About the Commission
  • Mission - Archive as of 31 March 2006
  • Functions and Objectives - Archive as of 31 March 2006
  • Organisational Structure - Archive as of 31 March 2006
  • Cooperation - Archive as of 31 March 2006
  • Annual Reports - Archive as of 31 March 2006
  • Work Plans - Archive as of 31 March 2006