Legal
New EU Prospectus Regulation: more obligations for issuers or less strict rules?
What major changes in disclosing information about securities are to be introduced by Regulation (EU) 2017/1129 of the European Parliament and the Council? The regulation will be directly applicable from 21 July of this year. Will issuers of…
Outsourcing in financial services – new and stricter guidelines
The European Banking Authority (EBA) has issued new and stricter guidelines on outsourcing arrangements, affecting all entities subject to its supervision, including payment and electronic money institutions. EBA’s guidelines have been prepared in…
New EU regulation on public documents - the end of apostilles in EU
In mid-February, a new regulation on public documents in the European Union (No. 2016/1191) entered into effect, aimed to promote the free movement of persons within the EU by simplifying the requirements for presenting certain public documents,…
Partial termination notices for employees performing several types of work
In a case before the Supreme Court of the Czech Republic, an employee did not meet the legal pre-requisites for performing direct pedagogical activities, and was therefore given a notice of termination by the employer. However, other types of work…
Transfer of garage parking place without pre-emptive right again?
The government approved and submitted to the parliament another amendment to the Civil Code, which prescribes, among other things, an exception from the pre-emptive right to a co-owner’s share in real property in certain cases of residential co…
What expenses are reasonably incurred when mortgage loans are repaid prematurely?
In early March, the Czech National Bank published its opinion on expenses that can be regarded as reasonably incurred in connection with the early repayment of a consumer loan for residential purposes. What are the CNB’s views on this? Shall we…
Financial market about to change
In mid-February, an amendment that may bring significant changes to several financial market segments was submitted to the Chamber of Deputies. What are the amendment’s major points? What should entities operating in the financial market prepare…
Personal Data Protection Office on when to perform a DPIA
When does it become necessary to carry out a data protection impact assessment? The Personal Data Protection Office attempts to answer this question with its List of Types of Personal Data Processing Operations Subject to Data Protection Impact…
Concerns about new whistleblowing regulation
A bill on the protection of whistle-blowers is another attempt currently discussed by the government to regulate whistle-blowing (i.e. exposing any kind of information or activity deemed illegal, unethical, or not correct within a private or public…
Hard Brexit’s effect on UK citizens’ employment and residence in the CR
At the end of March, two years will have elapsed from the moment the United Kingdom announced its intention to withdraw from the EU. If the British parliament does not approve the agreement on the conditions of the withdrawal by that time, the…
Revolution in providing information to investors?
In February, the European Supervisory Authorities (ESAs) disclosed the results of a public consultation regarding the essential elements of key information documents (KIDs). These are obligatorily provided to retail investors in compliance with the…
New rules and duties for real property intermediaries
To protect consumers and enhance the quality of real property services, the government approved a new bill on real property intermediation and on changes to the Trade Licensing Act. Persons interested in the purchase/sale/lease/acquisition of the…