By: Martin Rypl
May 5, 2026 3 min read
An amendment to Act No. 256/2004 Coll., on Capital Market Undertakings (hereinafter "ZPKT"), effective from June 6, 2026, introduces new thresholds for the obligation to prepare a prospectus during a public offering of securities. The Czech Republic has exercised the option granted to EU Member States to set the general threshold at EUR 5 million (compared to the newly established EU-wide ceiling of up to EUR 12 million), representing a significant increase from the previous EUR 1 million limit.
For public offerings ranging between EUR 1 million and EUR 5 million, a special information regime will be introduced. This requires the publication of an offering document containing key information about the issuer, the securities, and the risks, similar to a so-called "mini-prospectus."
All offerings exceeding EUR 5 million will continue to require a full-fledged prospectus. Thresholds are calculated over a rolling 12-month period and are aggregated across the EU for a single issuer to prevent the circumvention of rules. Furthermore, a new mandatory investor warning is introduced regarding the fact that the Czech National Bank (CNB) does not assess the financial health of the issuer.
This text was translated by AI.
Loyalty programme discounts are lawful, but unclear presentation of “club prices” may mislead consumers and expose traders to significant legal and regulatory risks.
FAQ: What Paid Leave Are You Entitled to at Work?
The Czech Supreme Court clarifies when employees removed from managerial positions are entitled to severance pay and how redundancy should be assessed.
The CJEU confirms that limitation periods for consumer claims based on unfair contract terms cannot begin before consumers can reasonably identify the unfairness.
New Button for Online Withdrawal from a Contract
The Czech National Bank clarifies the definition of “senior management” under ZISIF, providing guidance on approval requirements and governance for investment companies and funds.
In February of this year, a new government bill on the forfeiture of assets of unexplained origin was submitted to the Chamber of Deputies. This legislation...
The Czech National Bank (hereinafter the " CNB ") has issued a supervisory communication specifying its expectations regarding the setup of remuneration...
Finance Minister Alena Schillerová has presented a draft amendment that transposes the requirements of the European Consumer Credit Directive . The objective...
The government-approved draft amendment to Act No. 257/2016 Coll., on Consumer Credit ("CCA") , represents the most extensive intervention in consumer credit...