Regulatory Alerts2004-10-29
Czech National Bank Official Information on Money Broking and Permitted Banking Activities
The Czech National Bank issued this official information to clarify the regulatory scope of money broking and permissible non-core banking activities under Article 1(3)(i) and Article 1(4) of the Banking Act. It defines money broking as financial intermediation that remains subject to separate administrative registrations, while mandating that banks immediately cease any operations falling outside their licensed scope. Banks may perform ancillary services for controlled entities only when primarily meeting their own operational needs, and must ensure all licensed activities are promptly reflected in the Companies Register and Articles of Association.
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