Legal
Access to workplace with fingerprint or face recognition? Office for Personal Data…
Technologies processing the biometric data of employees are spreading. The use of fingerprints or face recognition to check workplace attendance is becoming increasingly frequent. The GDPR, however, only allows for very limited processing of…
AML regulation: risk of penalties of up to CZK 130 million
Obliged persons under the AML Act will be subject to new duties whose violation may result in severe penalties that could be potentially destructive for smaller companies. The legal regulation of sanctions relating to anti-money laundering measures…
E-vignettes coming into force in the Czech Republic
Mid-August, the Senate passed a bill introducing e-vignettes in the Czech Republic from 2021. Drivers will thus be able to pay for the use of some roads online or via a mobile application. Payments linked to a car’s registration number will be…
Personal Data Protection Office imposes first fines for GDPR breaches
With the adoption of the General Data Protection Regulation (GDPR) has come considerable uncertainty among personal data controllers and processors as to the amount of penalties to be imposed by the Personal Data Protection Office for its breaches.…
Draft amendment introducing changes to assignment of workers
In June, the Ministry of Labour and Social Affairs submitted to the government a draft amendment to the Labour Code and the Employment Act in connection with the transposition of an amended EU directive concerning the posting of workers in the…
New regulation of beneficial ownership
The Ministry of Justice has recently prepared a bill on the register of beneficial owners, which should replace and enhance the transparency of the existing beneficial ownership regulation contained in the Act on Public Registers and the AML Act …
Simpler liquidation of corporations?
The government approved a draft decree aiming to simplify the liquidation process for legal entities from an administrative and financial viewpoint. Some entities will be entirely released from their duty to publish the date of their entering into…
Parliament passes extensive amendment to Foreign Nationals’ Residence Act
The amendment underwent significant changes in the course of the legislative process. The approved wording includes the government’s authorisation to set economic migration quotas and to activate extraordinary work visas. The amendment will also…
Amendment to Asset Valuation Act to define market value
Draft amendment to the Asset Valuation Act submitted by the government to parliament aims to introduce a definition of market value as an alternative valuation method into Czech law. If passed, the new law should enter into effect on 1 January 2021.
Revolution in AML to affect all legal entities
With the implementation deadline for the fifth AML Directive approaching, preparations of legislative proposals transposing it into Czech laws are underway, including, among others, an amendment to the Czech AML Act (No. 253/2008 Coll. – Act on…
Class action lawsuits are coming to the Czech Republic. Retail better get ready!
A separate bill drafted by the justice ministry is to introduce the class action to Czech law, allowing holders (or purported holders) of identical or similar claims to assert these in court jointly, in single proceedings. This could mainly affect…
CNB to crack down on sales of bonds to non-professional clients
The Czech National Bank (CNB) issued Supervisory Benchmark No. 2/2019 on acquisitions of investment instruments by clients or investment funds, tightening the rules of acquiring complex investment instruments (namely corporate bonds) by so-called…