Regulatory Alerts2013-01-01
Decree No. 244/2013 Coll. on More Detailed Regulation of Some Rules Set Out by the Act on Management Companies and Investment Funds
The Czech National Bank issued Decree No. 244/2013 Coll. to implement European Union regulations and detail requirements for the management and control systems of investment fund managers and administrators. The decree establishes specific qualitative criteria for internal procedures, fair value determination, capital adequacy, and the prevention of conflicts of interest. It further mandates strict organizational standards, including the independence of risk management and internal audit functions, to ensure prudent conduct of business and effective supervision.
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