Meeting of the Committee on the Co-ordination of Supervision of the Financial Market

The Committee on the Co-ordination of Supervision of the Financial Market, which co-ordinates the financial market supervisory activities of the Czech National Bank, the Ministry of Finance and the Czech Securities Commission, held its last ever meeting on Monday, 27 March 2006.

The representatives of the three institutions started by discussing planned laws and decrees in the financial market area and the current tasks of the authorities supervising banks, insurance companies, pension funds and the capital market.

The Committee assessed the activities of its working groups. The members informed each other of topical issues concerning the practical exercise of supervision in each sector of the financial market in the past period and exchanged information about the work of European committees and working groups. Part of the discussion concerned co-operation between Czech and foreign supervisory authorities.

This was the Committee's 14th meeting. Throughout its existence, the Committee has focused on improving the quality of market supervision and increasing the effectiveness of exchange of information and co-operation between the supervisory authorities. A new form of co-operation between the Ministry of Finance and the Czech National Bank is currently being developed in the context of the merger of the supervisory authorities on 1 April 2006.

Pavel Hollmann, Chairman of the Presidium of the Czech Securities Commission
Tomáš Prouza, Deputy Minister of Finance of the Czech Republic
Leoš Pýtr, Executive Director of the CNB's Banking Supervision and Regulation Department