Regulatory ShakeUp 2025 in the Czech Republic and the EU
We offer you an overview of the key topics that are shaping the future of investing, startups, and the legal framework for technology.
Each of these areas, which we continuously monitor for you, brings changes to the rules and has an impact on businesses, investors, and everyday citizens alike.
Amendment to ZISIF – Funds on the Move
The Act on Investment Companies and Investment Funds is expected to be submitted to the government around the turn of July and August. Our law firm, AK Greats, is working with external colleagues on a commentary on the amendment.
What to watch: New opportunities for investment funds, impact on qualified investors.
Opportunity: Suitable for interviews with lawyers, funds, and investment advisors.
Retail Investment Strategy – A “Silent Revolution” in Investing
The European legislative package, which has been in the trialogue phase for a year, aims to simplify and increase transparency for retail investors.
Media angle: Fewer commissions, greater information obligations, stronger role of the regulator.
Why it matters: The topic of protecting small investors and managing distributor conflicts of interest has high social and political relevance.
The “28th Regime” – Universal Legal Framework for EU States
A unified European legal and tax framework designed to open doors to investors, talent, and innovation. It includes potentially controversial aspects – particularly where and how much tax should be paid within this regime.
Savings and Investments Union
The EU is preparing the so-called Savings and Investment Account (SIA), similar to pension investment savings.
Interesting angle: A gateway for the broader population to enter the world of investing.
Outlook: A timely topic for summer discussions on the future of pension systems.
Czech Startup Law
The Ministry of Industry and Trade is preparing legislation to simplify the establishment and financing of startups.
Media focus: Business environment, brain drain, and comparisons with the U.S. or Estonia.
Accounting Act – Redefining Czech Accounting
After more than a year of public consultation, the law is expected to be approved by the end of 2025, likely effective from January 1, 2027. Accountants will face a new regulatory standard.
Highlight: A new accounting culture in the Czech Republic after 30 years.
Impact: Training for thousands of accountants, potential confusion during the transition.
European Single Access Point (ESAP) – Capital Market Data in One Place
A unified EU interface for access to capital market data.
Media angle: The creation of a “European EDGAR” – a digital system for collecting, analyzing, and accessing data – a key tool for journalists and analysts.
Storyline: A breakthrough in capital market transparency.
ESOP 2024 – Parliament Approves More Favorable Conditions for Employee Shares
If also passed by the Senate, startups may have reason to celebrate.
Until now, both employers and employees had reservations about ESOP legislation.
Summer topic: Why has a tool widely used in the West struggled to take off in the Czech Republic?
Current development: A new law is on the table, easing the rules and making employee ownership more attractive.
ELTIF 2.0 – Europe’s Answer to Private Equity
Effective since January 2024, the first ELTIF funds may soon emerge in the Czech market.
Notable detail: Some applicants seek licenses in the Czech Republic, others prefer Luxembourg.
Media focus: Why is the Czech market still catching up with the West?
First Class Action Lawsuit in the Czech Republic – The “Postýlkov Effect”
A consumer lawsuit in the e-commerce sector marks a legal precedent.
Storyline: How does collective redress work (or not) in the Czech Republic? How far could this case go?
AML and AMLR – The End of National Rules?
The new EU regulation will replace national AML frameworks. Companies will need to update their compliance processes.
Media relevance: Compliance issues, risks for banks and advisors, pressure on technology.
AI Act – Czech Republic Seeks More Time
The EU Artificial Intelligence Act is heading into Czech law. The government is requesting a delay in implementation.
Media perspective: AI ethics, regulatory pressure on companies, Czech Republic’s role in EU tech policy.
FIDA – An Investment Revolution via App?
The EU wants a single app to manage all client investments – similar to the PSD2 model.
Highlight: Could completely reshape advisory services and digital client relationships.
Media question: Who will be the disruptor and who the defender? Is this the start of the investment app race?
DORA – Implementation and Audits
From January 17, 2025, financial institutions must comply with new digital operational resilience rules.
Impact: Mandatory audits, oversight of design, implementation, and effectiveness of ICT measures.
BONUS – Long-Term Focus Areas:
Corporate Bonds
Long-Term Investment Product (DIP)
IPOs
