Cross-border management of investment funds

Cross-Border Management of Investment Funds Abstract The thesis focuses on the legal framework governing the cross-border management of investment funds under the law of the European Union and the Czech Republic. The primary aim is to describe and analyse the extent to which the Czech legal framework complies with the principle of the home Member State and the minimum harmonisation standard established by the UCITS and AIFMD Directives, which regulate collective investment regimes within the EU. The thesis also addresses the phenomenon of so-called gold-plating, i.e. the expansion of regulatory requirements beyond the scope of EU legislation and evaluates its impact on the effective functioning of the single market for collective investment. The first chapter outlines the legal framework for the management of investment funds from both the European and Czech law perspectives. The second chapter focuses on the mechanism of the European passport for management, which enables fund managers to operate across borders without the need to obtain additional authorisations in host Member States. It describes the functioning of the passport, the notification procedure, and the division of supervisory powers between home and host competent authorities. The third chapter analyses the Czech regulation of cross-border...