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650
Financial Market Supervision Department II

Ladislav Kročák

Ladislav Kročák, Executive Director

  • 651
    Consumer Credit Supervision Division
  • 653
    Capital Market Supervision Division
  • 654
    Payment Services and Currency Exchange Supervision Division
  • 655
    Retail Distribution Supervision Division
  • 656
    Retail Distribution On-Site Supervision Division

Outside the CNB’s headquarters in Prague, selected supervisory activities are performed at regional offices in Plzeň, České Budějovice, Ústí nad Labem, Hradec Králové, Brno and Ostrava

Responsible for

  • conducting off-site and on-site supervision of:
    • electronic money institutions and foreign electronic money institutions operating in the Czech Republic through a branch
    • payment institutions and foreign payment institutions operating in the Czech Republic through a branch
    • small-scale electronic money issuers
    • small-scale payment service providers
    • investment intermediaries and their tied agents
    • insurance intermediaries and independent loss adjusters
    • bureaux de change
    • non-bank investment firms and their tied agents
    • management companies
    • autonomous investment funds
    • depositories and administrators of investment funds unless they are banks,
    • entities authorised to provide and intermediate consumer credit where they are subject to CNB supervision (hereinafter “supervised entities”)
    • such supervision to be focused on monitoring supervised entities’ compliance with the obligations stipulated by law and in the directly applicable legal rules of the European Union, and in particular on:
    • prudent behaviour of supervised entities
    • checking compliance with rules of conduct and professional care
    • preventing money laundering and the financing of terrorism by supervised entities
    • assessing the level of risk of supervised entities
    • checking certificates of completion of the course on the identification of suspected counterfeit or altered banknotes and coins at bureaux de change, payment institutions, small-scale payment service providers, electronic money institutions and small-scale electronic money issuers pursuant to the Act on the Circulation of Banknotes and Coins
    • checking the provision of services without relevant authorisation in supervised entities where such checks lie within the competence of the CNB
    • checking compliance with regulatory limits and
    • checking compliance with reporting duties
  • supervising compliance by entities supervised by the department with the rules of consumer protection on the financial market
  • supervising compliance by entities supervised by the CNB with the prohibition of discrimination against consumers and with the obligations applying to the remote conclusion of financial services agreements
  • checking compliance with the obligations applying to persons conducting asset maintenance comparable to asset management that are registered with the CNB pursuant to Article 15(1) of the Act on Management Companies and Investment Funds within the scope of powers entrusted to the CNB under this law
  • receiving, examining and dealing with submissions from the public in the defined areas of competence
  • cooperating with the Statistics and Data Support Department in conducting statistical surveys in the non-financial sector of the economy
  • informing supervised financial market entities about general findings arising from supervision of the above areas by publishing generalised replies to enquiries or official information documents where they concern supervisory procedures in the defined areas of competence
  • approving, outside administrative proceedings, the inclusion of subordinated debt and assessing the competence of persons in managerial positions in payment institutions and electronic money institutions
  • imposing obligations in ex-officio proceedings in the form of on-site orders during inspections of bureaux de change, in the area of inspection of insurance intermediation activities and in the area of inspection of compliance with the obligations in the Consumer Credit Act
  • assessing bureau-de-change licence applications, deciding whether to grant or refuse licences, deciding on the withdrawal of licences at the request of bureaux de change, and accepting notices from bureaux de change regarding the location of business premises
  • cooperating and exchanging information with foreign supervisory authorities and international institutions in the conduct of financial market supervision in the defined areas of competence
  • providing a contact point for consumer protection on the financial market and communicating with the public and potential counterparties in this area
  • working with the Ministry of Industry and Trade and the Ministry of Finance on consumer protection, working with consumer organisations and associations, and ensuring cross-border cooperation in the area of consumer protection on the financial market

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