- Public offering of securities
- Admission of securities to the regulated market
- Prospectus approval procedure
- License to provide investment services
- Licence to acquire a qualifying holding in a brokerage company
- License for a board member in a brokerage company
- License for a member of the supervisory board
- Broker license
- Tied agent licence
- Authorization to access auction systems
License for a member of the supervisory board
A brokerage company can choose a two-tier management system with a management and a supervisory board or a one-tier management system with a board of directors, whereby the members of the supervisory board in the two-tier management system or the non-executive directors in the one-tier management system (supervisory body) must obtain ATVP’s license.
The brokerage company is responsible for ensuring that its management body (management body and supervisory body) is composed in such a way that, as a whole, it has the appropriate knowledge, skills and experience to be able to thoroughly understand the activities of the brokerage company and the risks to which it is exposed. Bodies of the brokerage company, who are responsible for the selection and appointment of members of the management body must establish and implement an appropriate policy for the selection of suitable candidates.
Only persons, having the following, can be appointed to the position of supervisory board member in a brokerage company:
- knowledge, skills and experience for managing the operations of a brokerage company or a company of comparable size and activity as a brokerage company or other comparable operations,
- reputation and qualities for supervising the business of the brokerage company and his conduct does not raise doubts about its ability to ensure the safe and sound management of the business of the brokerage company in accordance with the rules on risk management, professional diligence and the highest ethical standards and the prevention of conflicts of interest,
- does not violate the provision regarding the incompatibility of the performance of other directorial functions or assurances have been given that the candidate will comply with these requirements within the therefore prescribed period.
A member of the supervisory body of a brokerage company must fulfil the conditions for appointment to such a position during the entire period, and in addition:
- act in accordance with professional care and in particular ensure that the management body of the brokerage company establishes and implements such an internal management arrangement that enables effective and careful management of the brokerage company based on a clear definition of responsibilities and responsibilities in the brokerage company and policies and measures to prevent conflicts of interest,
- to act openly, honestly and independently in order to be able to effectively evaluate and judge the decisions of the senior management regarding the management of the brokerage company and to effectively control and monitor the decision-making regarding the management of the brokerage company,
- act in accordance with the highest ethical management standards, taking into account the prevention of conflicts of interest,
- devote enough time to performing the function of the supervisory body so that this function can be performed effectively.
The function of a brokerage company’s member of the supervisory body can only be performed after a person obtains ATVP’s license for such function as a member in accordance with ZTFI-1.