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10 December 2019

Goals

The aim and philosophy of Czech Capital Market Association of the Czech Republic is to endeavor development of the collective investment industry in the Czech Republic and its harmonization with standard conditions in developed countries, especially the European Union.
Following this aim, the Association participates in the creation of conditions and rules, which should contribute to promotion of fair commercial relation principles, protection of good manners and reinforcement of general trust in collective investment. In compliance with generally binding legal regulations, Association's By-Laws, Code of Ethics and Binding Instructions, the Union guides, regulates and controls activities of its members.

AKAT CR focuses its activities on several areas, the following four can be regarded as priorities: improvement of voluntary self-regulation of members, law, communication with investors and their education and international activities.

Self-regulation
Improvement of voluntary self-regulation of AKAT CR members means a gradual completion and further specification of the Binding Instructions and other documents binding for Association members, such as Code of Ethics, Code of Good Conduct of the Presentation of Performance Records of Open-end Mutual Funds and Methodology. Association’s aim is a gradual harmonization of rules contained in these documents with standards of the European Union, and in particular improvement of control in compliance, sanctions resulting from cases of non-compliance, and naturally active prevention of such cases.

Law
The Association attempts to actively influence the legislative environment in which collective investment entities operate. It primarily concerns preparation and amendment of the new Act on collective investment, and a change of the regime of taxation of funds. Within these activities of the Union, co-operation with the Securities Commission and the Ministry of Finance, as well as with deputies and senators, or with the appropriate committees of both Houses of Parliament is strongly emphasized. AKAT CR considers further strengthening of its position as a non-negligible expert partner in preparation of all legal and tax regulations affecting the capital market and the sector of collective investment and asset management of a key importance.

Communication
Co-operation with public and education of investors became and integral part of the Association's activity. AKAT CR members believe it is practical to implement a permanent and common effort to present the new situation in the funds sector and implement activities in education of investors. Through its activities, the Association tries to inform the investment public about collective investment, its advantages and risks, and how to assess them, how they relate to potential revenues, the differences between individual types of funds, to explain the investment horizon, etc. Association members believe such educational activity can help create trust in funds and significantly broaden the number of citizens who will decide to invest a part of their savings through the purchase of shares of open-end mutual funds.

International activities
Regarding international activities, the Union pursues them mainly in relation with membership to the European Funds and Asset Management Association (EFAMA). Activities within EFAMA help the Association in finding solutions to all issues of collective investment related to the accession to the European Union, in monitoring European and global trends in the field of collective investment and asset management. Besides EFAMA, the Association also co-operates with several national associations of collective investment both in EFAMA states and other countries.
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