Regulatory Alerts2022-02-10
Official information of 10 February 2022
The Czech National Bank issued this official notice on 10 February 2022 to repeal specific regulatory communications related to prudential business rules for banks, securities dealers, and other financial entities. The repealed documents include Official Notice No. 11/2010 concerning the assessment of fit and proper persons and Official Notice No. 15/2014 regarding remuneration policies. This repeal was necessitated by recent amendments to national laws and the adoption of new general guidelines from European supervisory authorities.
Bulletin of the Czech National Bank, Issue 3/2022 dated 16 February 2022 1 Sorting code 2 0 4 2 2 5 6 0 OFFICIAL NOTICE OF THE CZECH NATIONAL BANK dated 10 February 2022 on the repeal of certain Official Notices of the Czech National Bank related to prudential business rules for banks, branches of third-country banks, savings and loan cooperatives, securities dealers, financial holding companies, and e-money institutions
In connection with changes in legislation, 1 new general guidelines adopted by European supervisory authorities2, and the new supervisory notice of the Czech National Bank3, the following Official Notices cease to be valid:
- Official Notice of the Czech National Bank No. 11/2010 Bull. ČNB, on the assessment of fit and proper persons for banks, branches of third-country banks, financial holding companies, and e-money institutions,
- Official Notice of the Czech National Bank No. 15/2014 Bull. ČNB, on the conduct of business by banks, savings and loan cooperatives, and securities dealers – remuneration.
This Official Notice enters into force on the day of its publication in the Bulletin of the Czech National Bank.
Deputy Governor: Ing. Marek Mora, M. E. in r.
Regulation and International Cooperation Section
1 In particular with regard to Act No. 353/2021 Coll., which amends Act No. 21/1992 Coll., on Banks, as amended by subsequent regulations, and certain other laws, and Decree No. 354/2021 Coll., which amends Decree No. 163/2014 Coll., on the conduct of business by banks, savings and loan cooperatives, and securities dealers, as amended by Decree No. 392/2017 Coll. 2 In particular with regard to the EBA and ESMA Guidelines on the assessment of the suitability of members of the management body and key function holders (EBA/GL/2021/06) (ESMA35-36-2319) and the EBA Guidelines on sound remuneration policies under Directive 2013/36/EU (EBA/GL/2021/04). 3 Supervisory Notice No. 1/2021 – Ensuring the suitability of persons in the sectors of credit institutions, insurance undertakings, reinsurance undertakings, and pension companies.