CNB financial market supervision to be reorganised in July

Financial market supervision at the Czech National Bank is to be divided into two main departments. A new Supervision Department II will be established with effect from 1 July 2016. Ladislav Kročák (53) will become its Executive Director.

Supervision Department II will comprise previously stand-alone departments – the Consumer Protection Department and the Retail Distribution Supervision Department – and the Financial Market Supervision Division (LSIIs).

The Financial Market Supervision Department will comprise five divisions – the Prudential Supervision Division, the Conduct of Business Supervision Division and Financial Market On-Site Inspection Divisions I, II and III. David Rozumek will remain Executive Director of this Department.

Ladislav Kročák graduated from the University of Economics, Prague and the College of Banking, Prague. After graduating he worked for more than 20 years in managerial positions in various financial institutions, including Citibank, GE Money Bank and AXA Bank. He is currently director of the Client Services Department at Všeobecná zdravotní pojišťovna.

Marek Zeman
Director, Communications Division