Decree No. 197/2025 Coll. on Reducing the Regulatory Burden in the Financial Market

Non-binding translation for informative purposes only 1 197 DECREE of 16 June 2025, reducing the regulatory burden in the financial market The Czech National Bank stipulates, pursuant to Article 5(5), Article 8b(9), Article 11a(4), Article 11b(7), Article 13(2), Article 15(2), Article 20(4), Article 22(2), Article 24(1) and (2), Article 26g(3), and Article 36(7) of Act No. 21/1992 Coll., on Banks, as amended by Act No. 126/2002 Coll., Act No. 254/2012 Coll., Act No. 135/2014 Coll., Act No. 338/2020 Coll. and Act No. 353/2021 Coll., pursuant to Article 2b(4), Article 7a(5), Article 7b(7), Article 13(9) and Article 27(1) of Act No. 87/1995 Coll., on Credit Unions and Certain Related Measures and on the Amendment of Czech National Council Act No. 586/1992 Coll., on Income Taxes, as amended, as amended by Act No. 280/2004 Coll., Act No. 230/2009 Coll., Act No. 135/2014 Coll., Act No. 338/2020 Coll. and Act No. 353/2021 Coll., pursuant to Article 199(2) of Act No. 256/2004 Coll., on Capital Market Undertakings, as amended by Act No. 296/2007 Coll., Act No. 230/2008 Coll., Act No. 139/2011 Coll., Act No. 188/2011 Coll., Act No. 241/2013 Coll., Act No. 204/2017 Coll., Act No. 119/2020 Coll., Act No. 353/2021 Coll., Act No. 96/2022 Coll., Act No. 462/2023 Coll., pursuant to Article 136 (1) and (2) of Act No. 277/2009 Coll., on Insurance, as amended by Act No. 304/2016 Coll., pursuant to Article 33(3), Article 39(4), Article 44(1), Article 65(1) and Article 77b(1) of Act No. 427/2011 Coll., on Supplementary Pension Savings, as amended by Act No. 119/2020 Coll., pursuant to Article 220(3), Article 478 and Article 532(3) of Act No. 240/2013 Coll., on Management Companies and Investment Funds, as amended by Act No. 336/2014 Coll., Act No. 119/2020 Coll. and Act No. 163/2024 Coll., pursuant to Article 26 of Act No. 277/2013 Coll., on Bureau-de-Change Activities, pursuant to Article 160 of Act No. 257/2016 Coll., on Consumer Credit, as amended by Act No. 462/2023 Coll., pursuant to Article 263 of Act No. 370/2017 Coll., on the Payment System, as amended by Act No. 129/2022 Coll., and Act No. 32/2025 Coll., pursuant to Article 8(3), Article 63(4) and Article 64(4) of Act No. 170/2018 Coll., on Insurance and Reinsurance Distribution, pursuant to Article 4(2) and Article 13(2) of Act No. 91/2022 Coll., on the Pan-European Personal Pension Product and on Amendments of Related Acts, and pursuant to Article 45 of Act No. 84/2024 Coll., on the Market for Non-Performing Loans, the following: PART ONE Amendment to Decree on more detailed regulation of some rules set out by the Act on Management Companies and Investment Funds Article I Decree No. 244/2013 Coll., on more detailed regulation of some rules set out by the Act on Management Companies and Investment Funds, as amended by Decree No. 52/2016 Coll. and Decree No. 184/2022 Coll., shall be amended as follows:

Non-binding translation for informative purposes only 2

1. In Article 11, paragraph 3 shall read: “(3) The manager of a standard fund or of a foreign standard fund shall ensure that its management body is informed without undue delay of all facts that might significantly adversely affect the financial standing of the standard fund or of the foreign standard fund, including the effects of any changes in the internal and external environment.”.
2. In article 11(4), the text of subparagraph b) shall be replaced by the text: “the degree of the risks being taken and any actual or anticipated breach of their limits; and”.
3. Article 42g including the heading shall be repealed. PART TWO Amendment to Decree on the statute of a collective investment fund Article II In Article 19(4) of Decree No. 246/2013 Coll., on the statute of a collective investment fund, as amended by Decree No. 185/2022 Coll., subparagraph f) shall be repealed. The existing subparagraphs g) to i) shall be designated as subparagraphs f) to h). PART THREE Amendment to Decree on applications pursuant to the Act on Management Companies and Investment Funds Article III Decree No. 247/2013 Coll., on applications pursuant to the Act on Management Companies and Investment Funds, as amended by Decree No. 344/2014 Coll., Decree No. 201/2020 Coll. and Decree No. 178/2024, shall be amended as follows:
4. In Article 2(c)(1), the text “where the natural person” shall be replaced by “where this natural person”.
5. In Article 2(c), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a Czech national (has) resided continuously for a period of more than 6 consecutive months during the last 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
6. In Article 3(3)(b), point 4 shall read: “4. an affidavit by the applicant of legal capacity of this person, unless this person is a data subject registered in the basic population register;”.
7. In Article 15(2), subparagraph d) shall read: “d) an affidavit by the applicant of legal capacity of this person, unless this person is a data subject registered in the basic population register;".

Non-binding translation for informative purposes only 3 5. In Article 31(2), subparagraph c) shall read: “c) an affidavit by the applicant of legal capacity, unless the applicant is a data subject registered in the basic population register; and”. 6. In Article 51, paragraphs (2) and (3) shall read: “(2) A document on having no criminal record issued by a foreign country pursuant to Article 2(c)(1) may be replaced by an extract from the Criminal Register together with an annex containing the information entered in the criminal records of that foreign country. (3) If a foreign country does not issue documents on having no criminal record and it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register, the application or notification form shall be accompanied by an annex containing a confirmation by the person concerned of having no criminal record, verified by a court, an authority authorised for that purpose or a notary of the given foreign country.”. 7. In article 51, the following sentence shall be added at the end of paragraph 4: “The applicant shall provide reasons for the failure to submit these data or documents.”. PART FOUR Amendment to Decree on bureau-de-change activity Article IV Decree No. 315/2013 Coll., on bureau-de-change activity, shall be amended as follows:

1. In Article 2(a)(1), the text “in which the natural person” shall be replaced by “in which this natural person”.
2. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a citizen of the Czech Republic has resided continuously for more than six months in the last three years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
3. In Article 9, paragraphs 2 and 3 shall read: “(2) A certificate of integrity issued by the foreign state pursuant to Article 2(a)(1) may be replaced by an extract from the Criminal Register together with an annex containing the information entered in the criminal records of that foreign state. (3) If the foreign country does not issue documents on having no criminal record and it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register, the application or notification form shall be accompanied by an annex containing a confirmation by the person concerned of having no criminal record, verified by a court, an authority authorised for that purpose or a notary of the given foreign country.”.
4. In Article 9, paragraph 4 shall be added, reading as follows: “(4) The applicant or notifier is not required to submit the data or documents required by this Decree, provided that they are publicly available in their current form in public administration information systems or if the Czech National Bank has them in their current form at its disposal. The applicant or notifier shall provide reasons for the failure to submit these data or documents.”.

Non-binding translation for informative purposes only 4 PART FIVE Amendment to Decree on the submitting of statements by banks and foreign bank branches to the Czech National Bank Article V Decree No. 346/2013 Coll., on the submitting of statements by banks and foreign bank branches to the Czech National Bank, as amended by Decree No. 216/2014 Coll., Decree No. 300/2015 Coll., Decree No. 325/2019 Coll., Decree No. 246/2021 Coll., Decree No. 230/2022 Coll. and Decree No. 55/2023 Coll., shall be amended as follows:

1. In Article 4(1)(d), the words “loan and” shall be repealed.
2. In Article 5, a comma at the end of subparagraph a) shall be replaced by the word “and”.
3. In Article 5, the word “and” at the end of subparagraph b) shall be replaced by a full stop and subparagraph c) shall be repealed.
4. In Annex 1, point 2 shall be repealed. The existing points 3 to 36 shall be designated as points 2 to 35.
5. In Annex 1, point 22 shall read: “22. BD (ČNB) 25-04 “Report of a bank/foreign bank branch on deposit concentration” Contains data on total payables for 15 credit institutions and 15 other entities (general government and other clients) with the largest volumes of payables.”. PART SIX Amendment to Decree on the performance of the activities of banks, credit unions and investment firms Article VI Decree No. 163/2014 Coll., on the performance of the activities of banks, credit unions and investment firms, as amended by Decree No. 392/2017 Coll. and Decree No. 354/2021 Coll., shall be amended as follows:
6. In Article 1, subparagraph b) shall be repealed. The existing subparagraphs c) to e) shall be designated as subparagraphs b) to d).
7. In Article 1, subparagraph c) shall be repealed. The existing subparagraph d) shall be designated as subparagraphs c).
8. In Articles 3(1) and 3(4), the words “Titles I and V” shall be replaced by the words “Title I”.
9. In Article 5(1), the words “Articles 8–51, Articles 63–70, Articles 97, 99 and 101” shall be replaced by the words “Articles 8–51 and Articles 63–70”.
10. In Article 6, the words “Articles 52–62, Articles 70a–74, Articles 76, 78, 91, 92, 95, 98, 100 and 101,” shall be replaced by the words “Articles 54–62, Articles 70a–74, Articles 76, 78 and 92,”.
11. Article 45 shall be repealed.
12. In Article 49, paragraph 6 shall be repealed.
13. In Part Two, Title II, including the heading, shall be repealed.
14. In Part Four, Title IV, including the heading, shall be repealed.

Non-binding translation for informative purposes only 5 10. Part Five, including the headings, shall be repealed. 11. Annexes 3 to 10 and 13 shall be repealed. PART SEVEN Amendment to Decree on the submission of statements by insurance and reinsurance undertakings to the Czech National Bank Article VII Decree No. 305/2016 Coll., on the submission of statements by insurance and reinsurance undertakings to the Czech National Bank, as amended by Decree No. 289/2021 Coll. and Decree No. 352/2024 Coll., shall be amended as follows:

1. In Article 3(2)(b), the comma at the end of point 1 shall be replaced by the word “and” and point 2 shall be repealed. The existing point 3 shall be designated as point 2.
2. Point 7 in the Annex shall be repealed. The existing points 8 to 16 shall be designated as points 7 to 15. PART EIGHT Amendment to Decree implementing certain provisions of the Insurance Act Article VIII Decree No. 306/2016 Coll., implementing certain provisions of the Insurance Act shall be amended as follows:
3. In Article 1, subparagraph e) shall be repealed. The existing subparagraphs f) to h) shall be designated as subparagraphs e) to g).
4. In Article 1(f), the words “the report on the verification of the system of governance and” shall be repealed.
5. Part Four, including the heading, shall be repealed.
6. Article 33, including the heading, shall be repealed.
7. Annexes 3 and 4 shall be repealed. PART NINE Amendment to Decree on applications under the Insurance Act Article IX In Article 15 of Decree No. 307/2016 Coll., on applications under the Insurance Act, the existing text shall be designated as paragraph 1 and paragraph 2 shall be added, reading as follows:

Non-binding translation for informative purposes only 6 “(2) The applicant is not required to submit the data or documents required by this Decree, provided that they are publicly available in their current form in public administration information systems or if the Czech National Bank has them in their current form at its disposal. The applicant shall provide reasons for the failure to submit these data or documents.”. PART TEN Amendment to Decree on applications, notifications and the submitting of statements pursuant to the Consumer Credit Act Article X Decree No. 381/2016 Coll., on applications, notifications and the submitting of statements pursuant to the Consumer Credit Act shall be amended as follows:

1. In Article 2(a), in the introductory part of the provision, the words “a statement of legal capacity of a natural person” shall be replaced by the words “a statement by the applicant of legal capacity of a natural person, unless that person is a data subject registered in the basic population register”.
2. In Article 12, paragraph 3 shall be added, reading as follows: “(3) The applicant or notifier is not required to submit the data or documents required by this Decree, provided that they are publicly available in their current form in public administration information systems or if the Czech National Bank has them in their current form at its disposal. The applicant or notifier shall provide reasons for the failure to submit these data or documents.”. PART ELEVEN Amendment to Decree on applications and notifications under the Capital Market Undertakings Act Article XI Decree No. 309/2017 Coll., on applications and notifications under the Capital Market Undertakings Act shall be amended as follows:
3. In Article 2(a)(1), the words “or a natural person who is a citizen of the Czech Republic” shall be repealed.
4. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a citizen of the Czech Republic was continuously resident for over 6 months in the past 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
5. In Article 4(2), at the end of the text of subparagraph b), the words “, unless the applicant is a data subject registered in the basic population register” shall be added.
6. In Article 10(1), at the end of the text of subparagraph c), the words “, unless the applicant is a data subject registered in the basic population register” shall be added.

Non-binding translation for informative purposes only 7 5. In Article 13, at the end of the text of subparagraph a), the words “, unless the applicant is a data subject registered in the basic population register” shall be added. 6. In Article 15, the existing text shall be designated as paragraph 1 and paragraphs 2 to 4 shall be added, reading as follows: “(2) A certificate of integrity issued by a foreign state pursuant to Article 2(a)(1) may be replaced by an extract from the criminal records together with an annex containing the information entered in the criminal records of that foreign state. (3) If the foreign state does not issue a certificate of integrity and it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the criminal records, the application or notification form shall be accompanied by an annex containing a confirmation by the person concerned of their integrity, verified by a court, an authority authorised for that purpose or a notary of the relevant foreign state. (4) The applicant or notifier is not required to submit the data or documents required by this Decree, provided that they are publicly available in their current form in public administration information systems or if the Czech National Bank has them in their current form at its disposal. The applicant or notifier shall provide reasons for the failure to submit these data or documents.”. PART TWELVE Amendment to Decree on applications and notifications under the Insurance and Reinsurance Distribution Act Article XII Decree No. 196/2018 Coll., on applications and notifications under the Insurance and Reinsurance Distribution Act shall be amended as follows:

1. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a citizen of the Czech Republic was continuously resident for over 6 months in the past 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
2. In Article 2(b), in the introductory part of the provision, the words “a statement of full legal capacity of a natural person” shall be replaced by the words “a statement by the applicant of legal capacity of a natural person, unless that person is a data subject registered in the basic population register”.
3. In Article 3(3) and Article 4(3), the words “and it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register” shall be inserted after the words “pursuant to Article 2(a)”.
4. In Article 6, new paragraph 2 shall be inserted after paragraph 1, reading as follows: “(2) A certificate of integrity issued by a foreign state pursuant to Article 2(a)(1) may be replaced by an extract from the Criminal Register together with an annex containing the information entered in the criminal records of that foreign state.”. The existing paragraph 2 shall be designated as paragraph 3.
5. In Article 6, the following words shall be added at the end of the text of paragraph 3: “or if the Czech National Bank has them in their current form at its disposal. The applicant shall provide

Non-binding translation for informative purposes only 8 reasons for the failure to submit these data or documents”. PART THIRTEEN Amendment to Decree on applications pursuant to the Act on Supplementary Pension Savings Article XIII Decree No. 199/2020 Coll., on applications pursuant to the Act on Supplementary Pension Savings, shall be amended as follows:

1. In Article 2(a)(1), the words “, or a natural person who is a Czech national,” shall be repealed.
2. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a Czech national (has) resided continuously for a period of more than 6 consecutive months in the last 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
3. In Article 2(b), in the introductory part of the provision, the words “an affidavit of the legal capacity of the natural person,” shall be replaced by the words “an affidavit by the applicant of the legal capacity of the natural person, unless that person is a data subject registered in the basic population register”.
4. In Article 3(6), Article 4(3), Article 6(3), Article 7(2) and Article 14(3), the words “and it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register” shall be inserted after the words “pursuant to Article 2(a)”.
5. In Article 16, new paragraph 2 shall be inserted after paragraph 1, reading as follows: “(2) A document on having no criminal record issued by a foreign country pursuant to Article 2(a)(1) may be replaced by an extract from the Criminal Register together with an annex containing the information entered in the criminal records of that foreign state.”. The existing point 2 shall be designated as point 3.
6. In Article 16, the following words shall be added at the end of the text of paragraph 3: “or if the Czech National Bank has them in their current form at its disposal. The applicant shall provide reasons for the failure to submit these data or documents.”. PART FOURTEEN Amendment to Decree on reporting by a manager and an administrator of an investment fund or foreign fund to the Czech National Bank Article XIV Decree No. 267/2020 Coll., on reporting by a manager and an administrator of an investment fund or foreign fund to the Czech National Bank, as amended by Decree No. 351/2024 Coll., shall be amended as follows:
7. In Article 4(1), subparagraph c) shall read: “c) within 40 days after the end of the first, second and third calendar quarter and within 55 days after the end of the calendar year to which it relates, statement OFZ (ČNB)

Non-binding translation for informative purposes only 9 31-04 “Breakdown of investment instruments owned by a managed fund” using data as of the last day of the calendar quarter.”. 2. Point 5 in the Annex shall be repealed. The existing points 6 to 15 shall be designated as points 5 to 14. PART FIFTEEN Amendment to Decree on applications and certain information pursuant to the Act on Banks and the Act on Credit Unions Article XV Decree No. 355/2020 Coll., on applications and certain information pursuant to the Act on Banks and the Act on Credit Unions, as amended by Decree No. 56/2023 Coll., shall be amended as follows:

1. In Article 2(1)(a), point 1, the words “, or a natural person who is a Czech national,” shall be repealed.
2. In Article 2(1)(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a Czech national was resident continuously for a period of more than 6 consecutive months in the last 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
3. In Article 2(1)(b), in the introductory part of the provision, the words “an affidavit of the legal capacity of the natural person” shall be replaced by the words “an affidavit by the applicant of the legal capacity of the natural person, unless that person is a data subject registered in the basic population register and the applicant submits a report on the results of an assessment of suitability for that person”.
4. In Article 11(1)(b) and Article 12(4)(a)(1), the words “and if it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register” shall be inserted after the words “pursuant to Article 2(1)(b)”.
5. In Article 14(3), the words “and if it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register” shall be inserted after the words “by a foreign country”.
6. In Article 15, new paragraph 3 shall be inserted after paragraph 2, reading as follows: “(3) A document on having no criminal record issued by a foreign country pursuant to Article 2(a)(1) may be replaced by an extract from the Criminal Register together with an annex containing the information entered in the criminal records of that foreign country.” The existing paragraph 3 shall be designated as paragraph 4.
7. In the last sentence of Article 15(4), the words “of such information or documents” shall be inserted after the word “non-submission”.

Non-binding translation for informative purposes only 10 PART SIXTEEN Amendment to Decree on the remuneration and reimbursement of cash expenditures of liquidators of banks and credit unions Article XVI In Article 2 of Decree No. 209/2021 Coll., on the remuneration and reimbursement of cash expenditures of liquidators of banks and credit unions, as amended by Decree No. 118/2022 Coll., subparagraph b) shall read as follows: “b) “value of assets” shall mean the total assets of a credit institution as determined from the credit institution’s latest balance sheet on an individual basis submitted to the Czech National Bank for supervisory purposes before the credit institution goes into liquidation,”. Footnote 1 shall be repealed. PART SEVENTEEN Amendment to Decree on applications and notifications to perform activities pursuant to the Payment System Act Article XVII Decree No. 1/2022 Coll., on applications and notifications to perform activities pursuant to the Payment System Act, as amended by Decree No. 151/2022 Coll. and Decree No. 394/2024 Coll., shall be amended as follows:

1. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a citizen of the Czech Republic was continuously resident for over 6 months in the past 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
2. In Article 23(2), the words “and if it is not possible to provide the information necessary for an assessment of integrity in the form of an annex containing an extract from the Criminal Register” shall be inserted after the word “integrity”.
3. In Article 23(3), the words “pursuant to Article 2(a)(1)” shall be inserted after the word “State”.
4. In Article 23(3), the words “, pursuant to the conditions laid down by the law governing the Criminal Register2),” shall be repealed.
5. In Article 23(5), the word “them” shall be replaced by the words “these data or documents”. PART EIGHTEEN Amendment to Decree implementing some provisions of the Act on Pan-European Personal Pension Product and amending related decrees on professional qualifications

Non-binding translation for informative purposes only 11 Article XVIII Decree No. 115/2022 Coll., implementing some provisions of the Act on Pan-European Personal Pension Product and amending related decrees on professional qualifications, shall be amended as follows:

1. Article 1(2) shall read: “(2) This Decree further regulates the format and other technical requirements of an application for the cancellation of the registration of a pan-European personal pension product pursuant to Article 6(2) of the Act.”.
2. Article 5, including the heading, shall be repealed.
3. In Article 8(2), the words “of these data or documents” shall be inserted after the word “non￾submission”.
4. In Article 9, paragraphs 1 and 2 shall be repealed, and the designation of paragraph 3 shall also be repealed.
5. In Article 9, the word “also” shall be repealed.
6. Article 10, including the heading, shall be repealed.
7. In the heading of Article 11, the words “report for supervision and” shall be repealed.
8. In Article 11(1), the words “reporting entity” shall be replaced by the words “provider of a pan￾European personal pension product”, and the words “a Supervisory Report and” and the words “and 10” shall be repealed.
9. In Article 11(3), the words “reporting entity” shall be replaced by the words “provider of a pan￾European personal pension product”.
10. In Article 11(4), the words “reporting entity” shall be replaced by the words “provider of a pan￾European personal pension product”.
11. Annexes 1 and 2 shall be repealed. PART NINETEEN Amendment to Decree on the Implementation of the Act on the Market in Non-Performing Credits Article XIX Decree No. 86/2024 Coll., on the Implementation of the Act on the Market in Non-Performing Credits, shall be amended as follows:
12. In Article 2(a), a new point 2 shall be inserted after point 1, reading as follows: “2. in which a natural person who is a citizen of the Czech Republic has resided continuously for more than 6 months in the last 3 years, unless the information necessary for an assessment of integrity is included in an annex containing an extract from the Criminal Register, or”. The existing point 2 shall be designated as point 3.
13. In Article 12(2), the words “and if it is not possible to provide the information necessary for an assessment of integrity as an annex containing an extract from the Criminal Register” shall be inserted after the words “pursuant to Section 2(a)”.
14. In Article 12(3), the words “pursuant to Section 2(a)(1)” shall be inserted after the word “country”.
15. In Article 12(3), the words “under the conditions laid down in the Act on Criminal Records Office” shall be repealed.

Non-binding translation for informative purposes only 12 PART TWENTY EFFECT Article XX This Decree shall take effect on 1 July 2025. Governor Ing. Michl, Ph.D., duly signed