228/Sb.
LAW
of 20 December. June 2013,
amending the law No 377/2005 Coll., on the supplementary supervision of banks,
spořitelními and úvěrními associations, insurance companies and securities dealers
papers in financial conglomerates and amending some other acts
(the law on the financial conglomerates directive), as amended, and
Act No. 277/2009 Coll., on insurance, as amended
Parliament has passed the following Act of the United States:
PART THE FIRST
Amendment of the Act on the financial conglomerates directive
Article. (I)
Act No. 377/2005 Coll., on the supplementary supervision of banks, spořitelními and
úvěrními associations, insurance companies and securities dealers in
financial conglomerates directive and amending some other acts (the Act on
financial conglomerates directive), as amended by Act No. 57/2006 Coll., Act No.
137/2006 Coll., Act No. 230/2006 Coll., Act No. 278/2009 Coll., Act No.
281/2009 Coll., Act No. 139/2011 Coll., Act No. 37/2009 Coll., Act No.
513/91 Coll. and Act No. 91/2009 Coll., is amended as follows:
1. in article 1, the words ' European Communities ' ^ 1 ') "shall be replaced by
"The European Union" ^ 1 ")".
Footnote 1:
"1) directive of the European Parliament and of the Council 2002/87/EC of 16 December 2002.
December 2002 on the supplementary supervision of credit institutions,
insurance undertakings and investment firms in a financial conglomerate and the
the changing of Council Directive 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC,
93/6/EEC and 93/22/EEC and European Parliament and Council Directive 98/78/EC and
2000/12/EC.
European Parliament and Council directive 2010/78/EU of 24 October. November
2010, amending Directive 98/26/EC, 2002/87/EC, 2003/6/EC,
2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC,
2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the competence of the European
supervisory authority (European banking authority), the authority
supervision (European insurance and occupational pensions
insurance) and the European supervisory authority (European securities
Securities and markets).
Directive of the European Parliament and of the Council of 2011/89/EC of 16 December 2002. November
2011, amending Directive 98/78/EC, 2002/87/EC, 2006/48/EC and
2009/138/EC, with regard to the supplementary supervision of financial entities in the
financial conglomerate ".
2. In paragraph 1, the words "[section 2 (a). (d))] ' shall be deleted.
3. In paragraph 2 (a). a), the words "special legislation" shall be replaced by
the words "the law governing the activity of the bank".
Footnote No. 2, including the footnote references deleted.
4. In paragraph 2 (a). (b)), the words "[the letter n)]" be deleted and the words "special
legal regulation "are replaced by the words" the law governing
the insurance industry ".
Footnote # 3, including the footnote references deleted.
5. In paragraph 2, point (b)) the following new subparagraph (c)) to e) are added:
"(c)) the reinsurance undertaking, a non-local undertaking from another Member
the State reinsurance undertaking from a third State or retaining specific person referred to in
the law governing the insurance industry,
(d) the maturity of the standard Fund obhospodařovatel) standard
Fund or a comparable foreign investment fund under the law
governing investment companies and investment funds,
e) maturity of investment funds of great magnitude
obhospodařovatel Special Fund, a foreign investment fund
comparable Special Fund, a Fund of qualified investors
or to a foreign investment fund with the Fund
qualified investors, which is entitled to exceed the record limit
under the law governing investment companies and investment funds, ".
Subparagraph (c)) up with) shall become letters (f))).
6. In paragraph 2 (a). f), the words "special legislation" shall be replaced by
the words "the law governing the capital market".
Footnote # 4, including the footnote references deleted.
7. in paragraph 2 of the letter g) is added:
"g) controlled by a person
1. the Bank,
2. savings and credit cooperative,
3. the undertaking,
4. the reinsurance undertaking,
5. trading in securities,
6. obhospodařovatel standard pool, or
7. obhospodařovatel investment funds of great magnitude, ".
Footnote # 5, including the footnote references deleted.
8. In paragraph 2, point (g)) the following points (h)) and i) are added:
"h) controlling entity controlling person under the law governing
the insurance industry,
I) controlled the controlled entity under the law governing
the insurance industry, ".
Subparagraph (h))) shall become letters (j)) to w).
9. In paragraph 2 (a). (j)), the words "does not control," shall be deleted and the words "always
considered a significant influence, unless it is a control "shall be replaced by",
including control, is always considered a significant influence ".
10. In paragraph 2 (a). k), the words "(§ 4) ' shall be deleted.
11. in paragraph 2 of the letter l) and m) are added:
"l) group grouping, which consists of
1. controlling entity, controlled people, or other associated
people, or
2. controlling entity, controlled people, other associated persons,
people linked with any of these people by the relationship of a single control,
or persons, for which the majority of their statutory, regulatory or
supervisory bodies make up for most of the reporting period of the person that are in
statutory, management or supervisory bodies of any of the persons referred to
in paragraph 1, including any of its subgroups,
m) close links
1. the relationship between two or more persons, in which one of the people on the other
the person has significant influence, or
2. the relationship between two or more persons, which controls the same person ".
12. In paragraph 2 (a). about) the words "(§ 3) ' shall be deleted.
13. in paragraph 2 (a). p) after the word "insurance", the words "or
reinsurance undertakings ".
14. in paragraph 2 (a). q) point 3, the words "[§ 5 para. 5 (b). (b))] "be deleted and the
at the end of the text, the words "shall be added to point except where directly applicable
Regulation of the European Union; in the calculation of the market share for the purposes of
This law shall apply the sum of balance sum, people in the banking sector
or investment services sector and gross written premiums in the sector
the insurance industry, ".
15. In paragraph 2 (a). u), the words "(hereinafter referred to as" risk ") ' shall be deleted.
16. in paragraph 2, at the end of the letter v) is replaced by a dot and comma letter w)
repealed.
17. in section 3, paragraph 2 reads as follows:
"(2) the banking sector will include banks, savings and loan
cooperatives, financial institutions and ancillary banking services undertakings
under the law governing the activity of the bank, with the exception of traders in securities
the papers and the people that make up the insurance sector referred to in paragraph 3. '.
18. in section 3, paragraph 3. 3, the words "special legislation" shall be replaced by
the words "the law governing the insurance industry".
19. in section 3, paragraph 3. 4, the words "special legislation" shall be replaced by
the word "law".
20. section 4, including the title reads as follows:
"§ 4
The definition of a financial conglomerate
(1) the financial conglomerate is a group or subgroup if
and) a group or sub-group is
1. the regulated person who either controls the person in the financial sector, or
is a person who has significant influence in the person in the financial sector,
or is linked with another person in the financial sector by a relationship
single control, or is the person that most of the members
management or supervisory bodies make up most of the accounting period the same
persons that are statutory, managerial, or supervisory authorities or
their members other persons in the financial sector, or
2. a person who is not controlled by a person, with the activity of the group or
the subgroup is done mostly in the financial sector,
(b)), at least one person in a group or subgroup is part of the sector
the insurance sector and at least one person in a group or subgroup is
part of the banking sector or investment services sector and
(c)) the summary of activities of the insurance sector in a group or subgroup and
a summary of the activities of the banking sector and the investment services sector in
a group or subgroup are significant.
(2) the activities of a group or sub-group takes place predominantly in the financial
sector if its ratio of balance sum exceeds the value 0.4.
(3) the ratio of the balance sum means the proportion in which the numerator is the sum of the
the balance-sheet sum of persons in a group or subgroup that are part of
the financial sector, and the denominator the sum of the balance sum of all persons
in a group or subgroup of. ".
21. in section 5, paragraph 3, the following paragraph 4 is added:
"(4) for the purposes of calculating the scales of significance referred to in paragraph 2 shall
obhospodařovatel standard pool and obhospodařovatel investment
large scale funds added to the sector in which the Group
It belongs. If you do not belong exclusively to one sector, added to the
the least significant sector in the group. ".
Paragraphs 4 to 6 shall be renumbered as paragraphs 5 to 7.
22. in section 5, paragraphs 6 and 7 are added:
"(6) if the group does not meet one of the conditions referred to in paragraphs 1 and 5,
the competent supervisory authorities agree that this group will not be
be considered as a financial conglomerate, or that this group will not be subject to
requirements of this Act to the risk management system and the concentration of
the risks at the level of the financial conglomerate, in the context of operations of the Group and
the internal management and control system, or some of them, if by
the opinion of the competent supervisory authorities do not impose obligations
provided for in this law to the group necessary, suitable, or would be
misleading.
(7) the competent authorities shall notify the decision referred to in paragraph 6
other supervisory authorities and this decision shall be published; in cases of
lodging can be dispensed from the obligation of publication. ".
23. in section 6 (1). 2 the words "§ 5 para. 4 "shall be replaced by the words" § 5 para. 5. "
24. section 8 reads as follows:
"section 8
(1) the competent authorities may, in cases and on lodging
by mutual agreement, the balance sheet in the calculation of the ratio of the balance sum
pursuant to § 4 and 5 on significance of the relevant sector and replace or
to supplement the income structure, off-balance sheet operations, total value
value of assets under management, a combination of them, or all of these
indicators at the same time.
(2) in determining whether the activity of the group takes place predominantly in the financial
sector and that a summary of the activities of the insurance sector in the Group and
a summary of the activities of the banking sector and the investment services sector in
the group are significant, the competent supervisory authorities on a proposal by the Coordinator
(section 13) upon mutual agreement
and may not take into account persons), which according to the decision of the Coordinator (section
13) may not be included in the calculation of the supplementary capital
adequacy, with the exception of people, which moved its head office from the Member
State to a third State with the intent to circumvent the regulatory requirements for
their activities or demands supplementary supervision applicable in the territory of
The European Union,
b) may take into account the criteria referred to in section 4, paragraph 4. 2, and in section 5 of the
paragraph. 1 for the last 3 years; This procedure shall not apply where in this
period, there were significant changes in the structure of the group, or
(c) may not be taken into account) to one or more associated persons included within the
a smaller sector in a group, if the inclusion of crucial to the
to specify a group as a financial conglomerate and the associated person
or the associated persons together are not significant for the purposes of
the supplementary supervision.
(3) the competent supervisory authorities at least once a year, review the exceptions
the supplementary supervision, based on their mutual agreement under section
5 and quantitative measures under section 5, 6, and 8. ".
25. in § 9 para. 1 introductory part of the provisions for the word "group"
the words "and the Joint Committee of European supervisory authorities by directly
applicable European Union legislation ".
26. in section 9, paragraph 6 is added:
"(6) on the designation of the group as a financial conglomerate and of its provisions
the Coordinator the Coordinator shall inform the supervisory authorities that regulated
people in the group have granted the authorization, the supervisory authorities of the Member State in
which the seat of the mixed financial holding person, and the Joint Committee
European supervisory authorities ".
Footnote # 8, including the footnote references deleted.
27. in article 11, paragraph 3 before paragraph 4 becomes paragraph 4 and
the current paragraph 4 shall become paragraph 5.
28. in section 11 (1) 5, the words "to the Commission of the European communities" shall be replaced by
the words "European Commission".
29. in § 14 para. 2 at the end of the text of the first sentence, the words ",
that alone will take into account in their written agreements supervisors
under the laws governing the insurance and banks ".
30. in article 14, the following paragraphs 3 and 4 are added:
"(3) to carry out the tasks of the Coordinator and the cooperation of the supervisory authorities in the performance of
the supplementary supervision shall makes use of colleges of supervisors established by
laws governing insurance and banks.
(4) the Coordinator decides that other supervisors will participate in
the activities of the College referred to in paragraph 3. '.
31. in article 15, paragraph 2. 2 letter a) is added:
"a) managerial and organizational structure of the Group and property relations in the
the group, including all of the regulated and non-regulated persons and significant
offices, holders of qualifying holdings on the person at the head of the financial
the conglomerate and the authorities exercising supervision over the persons in the group ".
32. In article 15, paragraph 3 shall be added at the end of the sentence "the information referred to in
paragraph 2 (a). and coordinator of the Joint Committee) to provide European
supervisors. ".
33. In article 20 (2). 4 at the end of subparagraph (b)) the following the word "or", and
subparagraph (c)) shall be deleted.
Subparagraph (d)) shall become point (c)).
34. In section 20 (2). 4 (b). (c)), the words "to (c))" shall be replaced by "and (b))".
35. In § 24 para. 1 the words "experienced enough" shall be replaced by
"eligible".
36. In § 24 para. 2 the term "experience" is replaced by
"eligibility".
37. In section 24, the following paragraphs 3 and 4 are added:
"(3) for the purposes of this Act, shall include an assessment of the person's trust
assessment of honesty, moral and financial integrity on the basis of the
certifying, in particular its criminal law integrity, its behavior and
the negotiations in the course of trade in relation to business, employment or
performance features, the performance of obligations to the supervisory authorities and other
the facts relevant to the assessment.
(4) for the purposes of this Act, shall include an assessment of the eligibility of the person
in particular, the assessment of the professional skills, knowledge and experience
including experience with the performance of the management function and its existing professional
effects on the financial market. At the same time taking into account the specific tasks of this
person entrusted. ".
38. In article 25, paragraph 2, the following paragraphs 3 and 4 are added:
"(3) means the controlled person at the top management level of the financial conglomerate
provide at least annually to the competent supervisory authority for information about
their management and organizational structure and property relations between the
entities in the financial conglomerate, including all controlled and
non-regulated persons and major branches in the financial conglomerate.
(4) a regulated persons at the highest management level of the financial conglomerate
each year, publish a report on its management and organisational structure and
property relations between entities in a financial conglomerate. This
You can also meet the obligation by posting a link to another source referred to
information. ".
Paragraphs 3 and 4 shall become paragraphs 5 and 6.
39. In § 25 paragraph 5 is added:
"(5) the Coordinator, after consultation with the other supervisory authorities concerned and the
in agreement with the persons referred to in paragraphs 1 to 4, modifies the form in which
the information submitted, and how the information is to be transmitted. The structure of the
and the time limits for the transmission of information to the purposes of supplementary supervision under this
the law implementing legislation. ".
40. In paragraph 33, the "conglomerates", the words "of the European
the Commission ".
41. In paragraph 34, the number "3" is replaced by "5".
PART TWO
Amendment of the Act on insurance
Article. (II)
Act No. 277/2009 Coll., on insurance, as amended by Act No. 409/2010
Coll., Act No. 188/2007 Coll., Act No 420/2007 Coll., Act No. 428/2011
Coll., Act No. 458/2007 Coll. and Act No. 18/2009 Coll., is amended as follows:
1. In article 3, paragraph 3. 6 (a). (g)), after the word "reinsurance undertaking" shall be replaced
"the insurance or reinsurance undertaking from a third State".
2. In § 87 para. 1 at the end of the text of subparagraph (c)), the words "or
mixed financial holding of the person ".
3. In article 88 para. 4, after the word "activities", the words "mixed
financial holding to the person ".
4. In section 88 para. 5, after the words "non-member country reinsurance undertaking ' shall be
the words "mixed financial holding person."
5. the following section is inserted after section 88 88a, which including the title reads as follows:
"section 88a
Special provisions for the supervision of mixed financial holding person
(1) the Czech National Bank, the supervisory authority is in a group, may, after
consultations with the competent supervisory authorities may provide for the supervision of
mixed financial holding party controls only the relevant
the provisions of the law governing the supplementary supervision of financial
conglomerates, if this person mixed financial holding
subject to the provisions of this Act and comparable to that of the law governing
supplementary supervision of financial conglomerates, in particular as regards
risk-oriented supervision.
(2) the Czech National Bank, the supervisory authority is in a group, may, after
agreement with the supervisor on a consolidated basis in the
the banking sector and the investment services sector provide that
supervision of mixed financial holding party controls only the provisions of the
applicable to the most important sector under the law governing
supplementary supervision of financial conglomerates, this mixed
financial holding person comparable to the provisions of this
the law and the law governing the activity of the bank or the law governing
the capital market, especially in terms of risk-oriented
supervision.
(3) the Czech National Bank informs about the facts established pursuant to
paragraphs 1 and 2, the European supervisory authorities established by the directly applicable
regulations of the European Union. ".
PART THREE
The EFFECTIVENESS of the
Article. (III)
This law shall enter into force on 10 July 2004. June 2013, with the exception of
the provisions of article. I, section 21 which shall enter into force on 22 October 2005. July
2013.
Němcová in r.
Zeman in r.
Samantha r in r.
