143/2009 Sb.
The DECREE
from day 4. May 2009
on the skill of the persons which carries out securities dealer
its activities
The Czech National Bank provides under section 199, paragraph. 2 Act No. 256/2004 Coll.,
about business on the capital market, as amended by Act No. 230/2008 Coll., to
the implementation of § 14 paragraph. 3 of this Act:
§ 1
The subject of the edit
This Decree lays down the scope of the necessary knowledge and experience of ^ 1),
through which the securities dealer performs its activities, and
the requirements for proof of such knowledge and experience.
Definition of terms
§ 2
(1) For the purposes of this Ordinance means
and a person acting with customers) a person who receives and transmits instructions
concerning investment instruments from customers,
(b)), investment broker, a person who carries out the instructions of the customer's account
or business on their own account relating to the investment
tools or subscription or placement of investment instruments with
obligation or no obligation to their subscription,
(c) the maturity of the portfolio), the person who manages the assets of the
the customer, if it is a part of the investment instrument, on the basis of the free
considerations in the framework of contractual arrangements,
(d)) investment advisor person who provides investment advice
concerning investment instruments,
(e) a person performing risk management) who, for a brokerage house
the papers provides risk management ^ 2)
(f) the person conducting the activity of compliance) a person who, at the merchant's
securities or investment provider secures the
activity compliance ^ 3), and
(g) the person carrying out the internal audit) who, for a brokerage house
the papers provides internal audit activities ^ 4).
(2) a person acting with the customers with limited activities for the purposes of this
the Decree means the person that carries out at least one of these activities
and) reception and transmission of instructions from the customer, if
1. the instruction involves securities for collective investment,
2. the instruction applies to investment instruments which carry a right to
repayment of at least the amount invested, issued or guaranteed by a Member
State of the European Union or Central Bank of a Member State of the Organization
for economic cooperation and development, local government total
the Member State of the European Union, the European Central Bank, European
communities, the European Investment Bank, or international
organizations, of which at least one is a Member State of the European Union,
or by a person with the permission of the Member State of the European Union or of a Member
the State of the Organisation for economic cooperation and development, subject to the
in the area of supervision of the capital adequacy rules,
3. the person receiving instruction relating to investment instruments from
the customer does not affect the contents of the instruction or it affects only in the context of a fully
standardized procedure for the modified internal regulation, which is to
bound, or
4. instruction relating to investment instruments filed by the customer, which
is a professional customer under section 2a paragraph. 1 and 2 or § 2b, paragraph. 1
Act No. 256/2004 Coll., on business on the capital market, as amended by
amended, (hereinafter the "law"), unless the customer
considered a customer who is not a professional customer,
(b)) in connection with receiving and forwarding instructions from customers
relating to securities, collective investment schemes, these guidelines also
performed, or
(c)) in connection with receiving and forwarding instructions from customers by
paragraph 2 (a). and) points 2 to 4 of these instructions be carried out by purchasing or selling
to or from the assets of a securities dealer or a foreign person
referred to in section 28, paragraph. 1 of the Act, arguing that the conditions of purchase or sale
the securities dealer or this foreign person
laid down in writing in advance, and the person performing the instruction is the
bound by the terms and conditions.
§ 3
(1) the professional practice on the financial market (hereinafter referred to as "professional practice") for
the purposes of this Ordinance, means the activity within the statutory authority
and) persons referred to in section 2a paragraph. 1 (a). and) to l) and section 2a paragraph. 2 (a). and)
the law,
(b)) of the investment intermediary
(c)) of the bound representative,
(d)), the organizer of the regulated market,
(e) settlement system operator),
(f)) of the Central Depositary, or
(g)) of the issuer of the investment facility listed factually related
the financial market.
(2) the professional practice is on the performance of the activities carried out in the length of the specified
weekly working time ^ 5) or to the full normal weekly working time
for the activity and actually consisting of professional work factually
associated with the financial market
and persons performing their jobs), the profession or function to a person
referred to in paragraph 1,
(b) the auditor or tax advisor) a person referred to in paragraph 1,
(c) the person conducting the legal practice) or carrying out scientific or
academic activity
(d)) staff of the Czech National Bank, Finance Ministry or authority
supervision of financial market and the professional association or
(e)), the World Bank the International Monetary Fund, the European
Investment Bank or other international financial institutions.
(3) the professional practice is also the performance of the activities of the person referred to in paragraph 1,
If the person is a natural person.
(4) the professional practice is also considered the performance of the activities of the foreign
persons or foreign natural persons, if their performance activities
similar to the performance of the activities of the persons referred to in paragraph 1 or paragraph 2
(a). and (d))) up to, and if it is carried out on the territory of a Member State of the European
the Union or a Member State of the Organisation for economic cooperation and
the development of.
§ 4
The scope of necessary knowledge on behalf of customers, the investment
brokers, portfolio managers and investment consultant
(1) a person acting with the customers has the required expertise in particular in the
area
and) legislation in the field of the financial market, if factually related to
its activities,
(b)) investment instruments and their emissions,
(c)) the provision of investment services and
(d) the principles and the functioning of the) collective investment undertakings.
(2) investment broker has the required expertise in particular in the area of
and) referred to in paragraph 1 (b). and (c)))
(b) the regulation and functioning of the relevant) world financial markets,
(c)), including financial market theory principles of finance
(d) Organization and rules) of regulated markets and other transfer points,
e) trading in the financial market, including the settlement and
(f)) financial analysis, if underwriting or placement of investment
instruments with or without obligation, the obligation of their subscription.
(3) Obhospodařovatel the portfolio has the required expertise in particular in the
area
and) referred to in paragraph 1 (b). and (d)),)
(b) the regulation and functioning of the relevant) world financial markets,
(c)), including financial market theory principles of finance
(d)), investment, investment strategy and portfolio and related risks and
(e)) financial analysis.
(4) the investment adviser has the required expertise in particular in the area of
and) referred to in paragraph 1 (b). and (d)),)
(b) the regulation and functioning of the relevant) world financial markets,
(c)), including financial market principles, theory of finance and the
(d)), investment, investment strategy and portfolio and associated risks.
(5) the scope of the required knowledge in accordance with paragraphs 1 to 4 shall conform to the
the substantive contents of the activities of a person acting with the customers, the investment
brokers, portfolio managers and investment advisers, so that
ensure their qualified performance.
§ 5
The scope of necessary knowledge persons carrying out risk management
(1) the person performing risk management has the required expertise in particular
in the area of
and risk management)
b) legislation in the field of the financial market, if factually related to
its activities,
(c) the regulation and functioning of the relevant) world financial markets,
(d) the principles of the financial market, including) the theory of finance,
e) investment instruments and their emissions,
(f) Organization and rules) of regulated markets and other transfer points,
g) trading in the financial market, including the settlement,
h) provision of investment services,
and the principles and the functioning of the) collective investment undertakings,
j) investment, investment strategy and portfolio and related risks and
k) financial analysis.
(2) the scope of the required knowledge referred to in paragraph 1 must comply with the substantive
activities of persons conducting risk management so as to ensure
the qualified performance; takes into account, in particular, whether the person
performing risk management controls the credit risk ^ 6), market risk ^ 7),
^ 8) operational risk, liquidity risk, ^ 9), concentration risk ^ 10) or
other risks.
§ 6
The scope of necessary knowledge of the person carrying out the activities of the compliance
(1) the person carrying out the activities of the compliance officer has the required expertise
in particular in the area of
and) referred to in section 5 (3). 1 (a). (b)) to)
(b) the procedures for the exercise of activities) compliance.
(2) the scope of the required knowledge referred to in paragraph 1 must comply with the substantive
activities of persons conducting compliance activities so that the
secure her qualifying performance.
section 7 of the
The extent of the necessary knowledge of the persons carrying out the internal audit
(1) the person carrying out the internal audit has the required expertise
in particular in the area of
and) referred to in section 5 (3). 1 (a). (b)) to)
(b) the procedures for the exercise of) internal audit.
(2) the scope of the required knowledge referred to in paragraph 1 must comply with the substantive
activities of persons carrying out the internal audit to ensure
her skilled performance.
§ 8
The mode of proof of knowledge
The person that carries out securities dealer of its activities,
demonstrate your knowledge of the securities trader confirms
the composition of the professional examination recognized by the Czech National Bank in accordance with § 14a paragraph.
2 and 3 of the Act (hereinafter referred to as the "exam"), certificate of completion
vocational course, confirmation of completed studies or other evidence,
demonstrating compliance with the requirements under section 9 to 15.
§ 9
Proof of knowledge of a person acting with the customers
(1) the person acting with customers with limited activities must have at least
completed secondary education ^ 11) or secondary education with an apprenticeship
worksheet ^ 12) and complete the appropriate professional training. Vocational
the course is not required if the person acting with customers with limited
activities has the professional experience of at least 2 years.
(2) a person acting with the customers, whose activity does not include investment
the instruments listed in section 3, paragraph 3. 1 (a). (d)) to) Act (hereinafter referred to as
"derivative"), must have completed at least a Bachelor's degree program ^ 13)
or completed higher professional education ^ 14) and complete the appropriate professional
course. Compliance with these requirements shall not be required, if this person
and has passed the appropriate professional exam),
(b)) has completed secondary education with GCSE ^ 15) and professional
the practice of not less than 1 year, or
(c)) has completed secondary education or secondary education with re-training
and the professional experience of at least 2 years.
(3) a person acting with the customers, whose activity includes derivatives, must
have completed at least a Bachelor's degree program or completed higher
professional education in the field of economics or mathematics and
the professional course. Compliance with these requirements shall not be required if the
This person
and has passed the appropriate professional exam),
(b)) has completed the Bachelor's degree program or completed higher professional
education in another field than economics or mathematics, and professional practice
at least 1 year,
(c)) has completed secondary education to GCSE and professional practice
at least 2 years, or
(d)) has completed secondary education or secondary education with re-training
and the professional experience of at least 3 years.
(4) The professional practice referred to in paragraph 2 (a). (b)), and (c)) is not counted
professional practice referred to in section 16. 1. The training referred to in paragraph 3
(a). (b) to (d))) not professional practice under section 16(1). 2.
§ 10
Demonstrating knowledge of the investment broker
(1) investment broker whose business does not include derivatives, must pass a
appropriate professional exam. Compliance with this requirement shall not be required,
If the investment broker
and completed at least) has a master's degree program ^ 16),
(b)) has completed the Bachelor's degree program or completed higher professional
education and professional experience of at least one year, or
(c)) has completed secondary education to GCSE and professional practice
at least 2 years.
(2) investment broker whose business includes derivatives, must pass a
appropriate professional exam. Compliance with this requirement shall not be required,
If the investment broker
and completed at least) has a master's degree program in economics
or mathematics,
(b)) has completed the master's degree program in another discipline than economics
or mathematics and the professional experience of at least 1 year,
(c)) has completed the Bachelor's degree program or completed higher professional
education in the field of economics or mathematics, and professional experience of at least 1
year,
(d)) has completed the Bachelor's degree program or completed higher professional
education in another field than economics or mathematics, and professional practice
at least 2 years, or
(e)) has completed secondary education to GCSE and professional practice
at least 3 years.
(3) The professional practice referred to in paragraph 1 (b). (b)), and (c)) is not counted
the relevant professional practice referred to in section 16. 3. The training referred to in
paragraph 2 (a). (b) to (e))) not relevant professional practice referred to in
§ 16. 4.
§ 11
Demonstrating knowledge of the maturity of the portfolio
(1) the Obhospodařovatel portfolio, which does not include derivatives, must
fold appropriate professional exam. Compliance with this requirement is
not required if obhospodařovatel portfolio
and completed at least) has a master's degree program
(b)) has completed the Bachelor's degree program or completed higher professional
education and professional experience of at least one year, or
(c)) has completed secondary education to GCSE and professional practice
at least 2 years.
(2) Obhospodařovatel the portfolio, which includes derivatives, must
fold appropriate professional exam. Compliance with this requirement is
not required if obhospodařovatel portfolio
and completed at least) has a master's degree program in economics
or mathematics,
(b)) has completed the master's degree program in another discipline than economics
or mathematics and the professional experience of at least 1 year,
(c)) has completed the Bachelor's degree program or completed higher professional
education in the field of economics or mathematics, and professional experience of at least 1
year,
(d)) has completed the Bachelor's degree program or completed higher professional
education in another field than economics or mathematics, and professional practice
at least 2 years, or
(e)) has completed secondary education to GCSE and professional practice
at least 3 years.
(3) The professional practice referred to in paragraph 1 (b). (b)), and (c)) is not counted
the relevant professional practice referred to in section 16. 3. The training referred to in
paragraph 2 (a). (b) to (e))) not relevant professional practice referred to in
§ 16. 4.
§ 12
Demonstrating knowledge of the investment advisor
(1) the investment adviser, whose activity does not include derivatives, must pass a
appropriate professional exam. Compliance with this requirement shall not be required,
If the investment adviser
and completed at least) has a Bachelor's degree program or completed higher
vocational training,
(b)) has completed secondary education to GCSE and professional practice
at least 1 year, or
(c)) has completed secondary education or secondary education with re-training
and the professional experience of at least 2 years.
(2) the investment adviser, which includes derivatives, must pass a
appropriate professional exam. Compliance with this requirement shall not be required,
If the investment adviser
and completed at least) has a Bachelor's degree program or completed higher
professional education in the field of economics or mathematics,
(b)) has completed the Bachelor's degree program or completed higher professional
education in another field than economics or mathematics, and professional practice
at least 1 year,
(c)) has completed secondary education to GCSE and professional practice
at least 2 years, or (d)) has completed secondary education or high
education with re-training and professional experience of at least 3 years.
(3) The professional practice referred to in paragraph 1 (b). (b)), and (c)) is not counted
the relevant professional practice referred to in section 16. 3. The training referred to in
paragraph 2 (a). b) to (d)) shall be the competent professional practice referred to in
§ 16. 4.
section 13
Proof of knowledge of the person performing risk management
(1) the person performing risk management must pass appropriate professional
exam. Compliance with this requirement shall not be required, if the person
performing risk management
and completed at least) has a master's degree program in economics
or mathematics,
(b)) has completed the master's degree program in another discipline than economics
or mathematics and the professional experience of at least 1 year,
(c)) has completed the Bachelor's degree program or completed higher professional
education in the field of economics or mathematics, and professional experience of at least 1
year,
(d)) has completed the Bachelor's degree program or completed higher professional
education in another field than economics or mathematics, and professional practice
at least 2 years, or
(e)) has completed secondary education to GCSE and professional practice
at least 3 years.
(2) The professional practice referred to in paragraph 1 (b). b) to (e)) is not counted
the relevant professional practice referred to in section 17.
§ 14
Proof of knowledge of the person carrying out the activities of the compliance
(1) the person conducting the activity compliance must pass the appropriate
Professional exam. Compliance with this requirement shall not be required, if the person
conducting compliance
and completed at least) has a master's degree program in the field of law or
Economics,
(b)) has completed the master's degree program in a different scope than the right
or economics, and professional experience of at least 1 year,
(c)) has completed the Bachelor's degree program or completed higher professional
education in the field of law or economics and professional experience of at least 1 year,
(d)) has completed the Bachelor's degree program or completed higher professional
education in another field than law or economics and professional experience of at least
2 years, or
(e)) has completed secondary education to GCSE and professional practice
at least 3 years.
(2) if the person conducting the activity in compliance with the investment
provider completed secondary education or secondary education with
Re-training and professional experience in the financial market of at least 4 years,
may not meet the requirements referred to in paragraph 1.
(3) The professional practice referred to in paragraph 1 (b). b) to (e)) and paragraph 2, the
not appropriate professional practice referred to in section 17.
§ 15
Proof of knowledge of the person carrying out the internal audit
(1) the person carrying out the internal audit must pass appropriate professional
exam. Compliance with this requirement shall not be required, if the person
conducting the internal audit
and completed at least) has a master's degree program in the field of law,
Economics or mathematics,
(b)) has completed the master's degree program in a different scope than the right,
Economics or mathematics, and professional experience of at least 1 year,
(c)) has completed the Bachelor's degree program or completed higher professional
degree in law, economics or mathematics, and professional practice
at least 1 year,
(d)) has completed the Bachelor's degree program or completed higher professional
education in another field than law, economics or mathematics and vocational
the practice of at least 2 years, or
(e)) has completed secondary education to GCSE and professional practice
at least 3 years.
(2) The professional practice referred to in paragraph 1 (b). b) to (e)) is not counted
the relevant professional practice referred to in section 17.
section 16 of the
Range of experience a person acting with the customers, the investment
brokers, portfolio managers and investment consultant
(1) a person acting with the customers, whose activity does not include derivatives,
may become just one who previously pursued an activity of a person acting with the
customers with limited activities for at least 6 months, or has the professional practice
at least 1 year.
(2) a person acting with the customers whose activity includes the derivatives,
may become just one who previously pursued an activity of a person acting with the
customers referred to in paragraph 1 for at least 1 year or has a professional experience of at least
3 years.
(3) the maturity of the Portfolio Investment broker, or an investment
Advisor, whose activity does not include derivatives, may become just that,
who has professional experience of at least 1 year.
(4) the investment broker, maturity of the portfolio or investment
Advisor, whose work includes derivatives, can become just the one who
previously the activities referred to in paragraph 3, at least 1 year or
He has professional experience of at least 3 years.
(5) the requirements referred to in paragraphs 1 to 4 shall not apply if the person referred to therein
and) operate under the supervision of the person, that the requirement
meets, or
(b)) exercise activity you wish to pursue, at least 1 year under
the supervision of a competent person, who meets the requirement.
(6) the requirements referred to in paragraph 1 the person acting with your customers with
limited activities do not apply.
§ 17
The extent of the necessary experience, persons carrying out risk management activities
compliance or internal audit
The person conducting the risk management, compliance or internal audit activity
can become the only one who has professional experience of at least 1 year. This does not apply,
If its activities under the supervision of the person who requests
It meets the.
section 18
The mode of proof of experience
The person that carries out securities dealer of its activities,
demonstrating his experience as a securities trader at least
and structured professional CV), which contains at least
1. the name of the person that performs your securities dealer
activities,
2. information about the nature of professional practice referred to in section 3,
3. the designation of the person, in which the training is carried out,
4. the name of the work,
5. Description of the activities,
6. the definition of the period during which the activity was carried out in accordance with point 5,
7. list of internships with relevance to the activities of the financial market, indicating the
the year of their graduation, the focus and duration and
8. the signature of the person that performs your securities dealer
activities,
(b) copies of the documents showing) if their nature does not preclude
the facts referred to in point (a)); copies of documents can be used in cases
worthy of special attention to replace the formal declaration of the person using the
carried out by the securities dealer on its activities.
§ 19
Counting training
Professional practice carried out before 10 and more years ago before the start of the performance
activities referred to in this order to the training required by this
the Decree shall not be counted.
section 20
Transitional provisions
(1) a securities dealer shall indicate their ratios in accordance with this
Decree no later than 12 months from the date of entry into force of this
the Decree. In the meantime, complies with the rules laid down by Decree.
(2) the professional practice referred to in section 16 is not required if the person acting on the
customers, investment broker, obhospodařovatel portfolio and investment
passed the Professional exam by the Adviser to Decree No. 59/2007 Coll.
types of professional trade activities as a securities trader
carried out through a broker, the broker about the types of specialisation and
the brokerage test.
(3) paragraph 2 shall not apply if the person acting with customers,
investment broker and practise outside the portfolio, obhospodařovatel
the scope of the category of composite vocational test according to Decree No. 59/2007 Coll.
or if the investment advisor exam test according to § 3 (2). 3
Decree No. 59/2007 Sb.
section 21
The effectiveness of the
This Decree shall take effect on 1 January 2005. June 2009.
Governor:
doc. Ing. Tůma, CSc., in r.
Article 14, paragraph 1). 2 Act No. 256/2004 Coll., on business in the capital
market, as amended by Act No. 230/2008 Sb.
2) section 12 of Decree No. 237/2008 Coll., on details of certain rules
in the provision of investment services.
3) section 19 of Decree No. 237/2008 Sb.
4) section 20 of the Decree No. 237/2008 Sb.
5) section 79 of the Act No. 262/2006 SB., labour code, as amended
regulations.
6) section 13 of the Decree No. 237/2008 Sb.
7) § 14 of Decree No. 237/2008 Sb.
8) section 15 of Decree No. 237/2008 Sb.
9) § 16 of Decree No. 237/2008 Sb.
10) section 17 of Decree No. 237/2008 Sb.
section 58, paragraph 11). 2 Act No. 561/2004 Coll. on pre-school, primary,
secondary, higher vocational and other education (the Education Act), as amended by
amended.
section 58, paragraph 12). 3 of Act No. 561/2004 Coll.
13) of section 45 of Act No. 111/1998 Coll., on universities and amending and
supplement other laws (the law on universities), as amended
regulations.
14) section 92, paragraph. 2 in conjunction with section 101 of the Act No. 561/2004 Coll.
section 58, paragraph 15). 4 Act No. 561/2004 Coll.
16) section 46 of Act No. 111/1998 Coll.
