Regulatory Alerts2012-01-01
Decree No. 117/2012 Coll. on Detailed Regulation of the Activities of Pension Companies, Pension Funds, and Participatory Funds
The Czech National Bank issued Decree No. 117/2012 Coll. to establish detailed operational, prudential, and reporting requirements for pension companies, pension funds, and participatory funds in the Czech Republic. The decree mandates strict governance standards, including robust risk management strategies, independent internal audit and compliance functions, and rigorous conflict of interest controls. It further regulates outsourcing practices, information system security, communication record-keeping, and the specific methodologies for asset valuation and capital adequacy calculations.
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