Publication details

Dohled ČNB nad subjekty finančního trhu

Title in English Czech National Bank supervision over the subjets of the financial market
Authors

JANOVEC Michal ZRŮST Lukáš

Year of publication 2015
Type Article in Proceedings
Conference COFOLA 2015 (sborník z konference)
MU Faculty or unit

Faculty of Law

Citation
Web Sborník z konference COFOLA 2015
Field Law sciences
Keywords Financial institutions; financial market; insolvency; liquidation; Czech Nation Bank
Attached files
Description This article focuses on the entities - institutions of the financial market, especially in terms of their cancellation and termination. Financial market institutions are specific entities, whether in terms of their origin (licenses, permissions, which grants Czech National Bank - CNB in administrative proceedings), as well as to their extinction. The bankruptcy of these institutions cannot use the general provisions of the Insolvency Act long as they are holder of the permit or license from the CNB and for this reason, the activities of these institutions end up entering into liquidation or the insolvency proceedings but after termination of license / authorization in a special mode. At all stages of operation, liquidation and bankruptcy plays a very distinct and specific role just the CNB, as a public authority. The aim of this paper is mainly to highlight the special status of financial institutions, among other things, is the answer to the question to deal with the liquidation mode if it is simultaneously submitted an insolvency petition because such a situation is possible and it is a certain collision of both institutes termination of institutions of the financial market. Furthermore, this article shall deal with issues of taxation in this termination process.
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