On Oct. 15, CZC CB issued new draft decree on the reporting of data.
CZC CB published a draft decree amending Decree 267/2020 coll., on the reporting of data by managers and administrators of an investment fund and foreign investment fund, including justification and the valid wording indicating all the proposed changes.
Draft Decree Basis
The draft amendment to Decree 267/2020 Coll., on the reporting of data by the manager and administrator of investment funds and foreign investment funds to the CZC CB, was drawn up following various amendments to Act 240/2013 Coll. (ZISIF).
The Decree amendment responds to changes in for persons listed in § 15, paragraph 1 ZISIF, performing property management comparable to business (Property Manager).
In addition to the requirement arising from the ZISIF amendment, the decree also requires the removal of a technical deficiency in the case of reports made to ESMA.
The type of reports required by ESMA of over- and under-limit licensed entities all depend on type of license granted, not on an entity exceeding or not exceeding limits.
The changes introduce a national report for asset managers, specifically the auditor's confirmation of the number of investors, to be established directly in the decree as a national requirement in connection with provision of Section 15, para 6 and 7 of ZISIF.
Consultation Process
The draft decree is being consulted with the Capital Market Association, with detailed methodology made available with in the collection information system of the CZC CB.
In addition, the new draft decree is also being consulted with the Ministry of Finance.
The draft decree is not subject to consultation with the European Central Bank (ECB) according to EU CNCL Decision 98/415/EC of Jun. 29, 1998 on consultations of national authorities with the European Central Bank, on certain draft local legal regulations.
Effectiveness
Effective date of the introduction of the draft Decree is currently set as Jan. 1, 2025.
Dec. 2024 Final Decree Published
On Dec. 2, 2024, CZC PRL published final decree (Decree 351/2024 coll) on reporting data by manager and administrator of investment fund and foreign investment fund.
Decree establishes scope, structure, form, method and deadlines for submitting information to CZC CB, including requirements and auditing information.
