Legal
Brexit implications for Czech financial sector
The Czech Republic is preparing for a hard Brexit, as the deadline for the United Kingdom leaving the EU is approaching. Earlier this year, the government proposed a bill on Brexit designed to mitigate the impact on British citizens and corporations…
Uncertainty regarding electronic sick notes and waiting period (karenční doba)
Work on and approval of legislative changes to social security law have recently been reminiscent of Westerns. Whereas the cancellation of the waiting period (karenční doba) was passed by the Chamber of Deputies after years of discussion and…
No deregulation for investment funds
In 2019, we expect further regulatory changes in the investment fund sector, mainly concerning reporting and stress testing. The European Securities and Markets Authority (ESMA) is now finalising guidelines on stress test scenarios for money market…
What’s new in immigration law?
Discussions concerning immigration law have recently been fairly lively. While the Chamber of Deputies is currently deliberating an extensive amendment to the Act on Foreign Nationals’ Residence, in November, the Constitutional Court cancelled a…
Deputies pass GDPR-adapting act
In December of last year, the Chamber of Deputies passed a long-awaited bill on personal data processing, designed to replace the existing Act on Personal Data Protection. Its adoption follows the new rules set out in the EU General Data Protection…
Have you registered your beneficial owner yet?
From January 2018, entities recorded in Czech public registers have to register their beneficial owners in a new register maintained by the registration courts. The law set a one-year time limit to do so. The deadline is slowly drawing to an end,…
Deal or no-deal. Brexit from an intellectual property rights viewpoint
Brexit, probably next year’s most important international event, will significantly affect many areas: from EU citizens’ rights, through finance sector regulations to the enforcement of British court judgments in the EU (and vice versa, of course).…
Significant amendment to Labour Code returns
In August, the government began to discuss a document that will undoubtedly be familiar to some lawmakers and the professional public. A large amendment to the Labour Code, which the Chamber of Deputies in its previous structure did not have time to…
Uniform interpretation of crypto assets at hand?
An important voice has joined the pending discussions regarding the nature of crypto assets, i.e. virtual currencies, various tokens and initial coin offerings (ICO). In mid-October, a working group of the European Securities and Markets Authority …
Another step towards EU copyright reform
The media has recently been overflowing with news about the European Parliament approving a directive on copyright on the internet, including articles about a threat to freedom on the internet or the end of the internet in its current form. What…
Supreme Public Prosecutor’s Office updates methodology for corporate exoneration
Public prosecutors have so far lacked a tool to assess whether a corporate entity’s internal measures and efforts to prevent criminal activity are sufficient to avoid the entity’s criminal liability for their employees’ wrongdoings. An updated…
To what extent may the rights of members of limited liability companies be…
The Chamber of Deputies is currently discussing an amendment to the Act on Corporations. Below we present a summary of the amendment’s changes relating to the types of ownership interests in limited liability companies.