Informace o publikaci
The Financial Arbitrator in the Czech Republic
| Název česky | Finanční arbitr v České republice |
|---|---|
| Autoři | |
| Rok publikování | 2023 |
| Druh | Kapitola v knize |
| Fakulta / Pracoviště MU | |
| Citace | |
| Přiložené soubory | |
| Popis | The Financial Arbitrator has been part of the Czech legal system since 2003. He is a state-established authority for out-of-court settlements of consumer disputes within the financial market. His jurisdiction is constantly expanding and currently covers disputes between consumers and financial institutions providing or intermediating payment services, electronic money, credit, collective investment, life insurance, building savings and currency exchange. The position of the Financial Arbitrator, which innovatively combines elements of administrative and judicial bodies, has been and is a major challenge to Czech law. The Financial Arbitrator has a specific position among the executive authorities, which is reflected especially in the rules on proceedings before him. Although the Czech Financial Arbitrator was established in response to the requirements of European law, the procedural rules are not unified at the Community level and are therefore purely national in nature. Proceedings before the Financial Arbitrator are a very interesting and still debated way of compensating for the imbalance in the relationship between consumers and financial institutions, as it significantly strengthens the position of the consumer at the expense of the financial institution. As with other administrative bodies, the decision of the Financial Arbitrator is subject to judicial review. |