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    Czech Republic

    Act No. 15 and the Prague Stock Exchange Trading rules address the implementation of EU regulations in the capital market.

    Overview: The Czech National Bank supervises the capital market in the Czech Republic. This law amends certain laws governing the financial market, especially in connection with the implementation of EU regulations regarding the capital markets union.

    • Section 8, 1(b): Allows the Czech National Bank to request that issuers submit an updated list of insiders according to MAR Article 18, subsection 1(c)
    • Section 18, 8: The Czech National Bank shall implement appropriate procedures for transferring the personal data of the whistleblower and the person who is allegedly responsible for a violation or threatened violation of a directly applicable regulation of the European Union governing market abuse (hereinafter referred to as the "reported person") within the Czech National Bank and to other authorities or other persons.

    Overview: The exchange comprises a Prime Market, Standard Market, Free Market and the Start Market. The Weiner Börse AG/Vienna Stock Exchange, the Prague Stock Exchange’s largest shareholder, built the surveillance solution in use in Prague. The trading rules for the Automated Trading System XETRA Prague address market abuse:

    Article 61: Price manipulation and market abuse

    1. In response to the valid and effective legislation of the Czech Republic and the European Union, PSE analyzes and evaluates the behavior of PSE members, especially in terms of
      1. suspected market manipulation (especially regarding prices and trade volumes)
      2. suspected insider trading
      3. market transparency
    2. These procedures are related to the PSE members’ business activities with securities admitted to PSE markets.
    3. Specifications and detailed description are fixed by internal PSE rules.
    4. Concrete findings are reported to the competent PSE supervisory authority according to the legislation.

    Resources & Insights

    Nasdaq Crypto Regulation Guide: Europe

    Nasdaq Crypto Regulation Guide: Europe

    Regulation of cryptocurrency varies globally by region, jurisdiction, and regulatory body. Nasdaq’s comprehensive and updated Cryptocurrency Regulation Guide Europe provides a snapshot of recent recommendations from international regulatory and standards-setting bodies as well as key developments in Europe.

    Clearing the Path for Crypto-Asset Regulation: The EU’s MiCA Explained

    Clearing the Path for Crypto-Asset Regulation: The EU’s MiCA Explained

    The EU recently passed the Markets in Crypto-Assets (MiCA) regulation which will go into effect in 2024. The monumental vote will set global standards for the regulation of crypto-assets. Read our paper to learn more about the articles within MiCA pertaining to market abuse.

    Practical Guide: Markets in Crypto Assets (MiCA) Regulation

    Practical Guide: Markets in Crypto Assets (MiCA) Regulation

    With MiCA scheduled to go into effect in 2024, crypto-asset market participants should expect more stringent surveillance requirements once the regulation is implemented. Now is the time to implement technology and processes to monitor for market abuse, money laundering, and fraud – not only to ensure compliance, but also to protect investors, instill confidence, promote integrity, and attract clients.