Implementation of Directive 2011/61/Eu of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers Into Czech Legal System

Zuzana  Šiková

Implementation of Directive 2011/61/Eu of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers Into Czech Legal System

Publication date: 31.03.2021

Financial Law Review, 2021, Issue 21 (1)/ 2021, pp. 47-61

https://doi.org/10.4467/22996834FLR.21.004.13287

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Implementation of Directive 2011/61/Eu of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers Into Czech Legal System

Abstract

This contribution deals with the implementation of Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 into Czech legal system. The main aim of the contribution is to confirm or disprove the hypothesis that entity in Section 15 of Act no. 240/2013 Coll, on Investment Companies and Investment Funds, as amended, is an alternative fund according to the Directive 2011/61/EU and that Directive 2011/61/EU was not transposed in Czech Republic properly. Author used to confirm or disprove above mentioned hypothesis scientific methods, especially comparison, induction and deduction. This contribution also looks at the Directive 2011/61/EU evaluation of its effectiveness and possible development of regulation in this area.

Keywords

Investment fund, Underhand Retail Investment Fund, Implementation, Management of assets comparable to the management of Investment Funds, Alternative Investment Fund

References

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Doležalová D.: On the Proposal for a New Directive of the European Parliament and of the Council on Alternative Investment Fund Managers, Commercial and Legal Review 7/2010.

Doležalová D.: Some aspects of the delegation of depositary functions from the perspective of the AIFMD and the Implementing Regulation, Commercial and Legal Review 9/2013.

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Legal Acts

Act No. 189/2004 Coll, on collective investment.

Act No. 240/2013 Coll., on Investment Companies and Investment Funds, as amended.

Act No. 240/2013 Coll., on Investment Companies and Investment Funds, effective from 19 August 2013 to 31 December 2014.

Other Official Documents

Commission Implementing Regulation (EU) No. 447/2013 of 15 May 2013 establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU of the European Parliament and of the Council. Available at: https://www.beck-online.cz/bo/document-view.seam?documentId=mv2tgxzsgaytgx3sga2diny&groupIndex=0&rowIndex=0,accessed: 31st August 2020.

Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010. Available at: https://www.beck-online.cz/bo/document-view.seam?documentId=mv2tgxzsgaytcx3mgaydmmi, accessed: 31st August 2020.

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Guidelines on key concepts of the AIFMD. ESMA/2013/611 of 13 August 2011. European Securities and Markets Authority. Available at: https://www.esma.europa.eu/sites/default/files/library/2015/11/esma_2013_00600000_cs_tra.pdf, accessed: 31st August 2020

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Information

Information: Financial Law Review, 2021, Issue 21 (1)/ 2021, pp. 47-61

DOI: https://doi.org/10.4467/22996834FLR.21.004.13287

Article type: Original scientific article

Authors

Zuzana Šiková

https://orcid.org/0000-0002-6808-0196

Department of Financial Law and Economics, Faculty of Law, Masaryk University in Brno, Czech Republic

Published at: 31.03.2021

Article status: Open

Licence: CC BY-NC-ND 3.0 Unported

Percentage share of authors:

Zuzana Šiková (Author) - 100%

Classification number:

JEL Classification System:

International Law (K33)

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Publication languages:

English

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<p>Implementation of Directive 2011/61/Eu of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers Into Czech Legal System</p>

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