Decree No. 379 / 2004 Coll.
Decree on rules on the handling of internal information
Valid
Order
Effective from 09.07.2004
Text versions:
09.07.2004
24.06.2004
379
DECLARATION
of 9 June 2004
on rules on the handling of internal information
According to § 199 (2) (p) in conjunction with § 125 (7) (a) and (b) of Act No. 256 / 2004 Coll., on Capital Market Business, hereinafter referred to as "the Act":
Subject matter
This decree implements the relevant provisions of the European Community1) and provides for more detailed rules for the disclosure of internal information by the issuer of an investment instrument admitted to trading on a regulated market in a Member State of the European Union or which is the subject of an application for admission to trading on a regulated market in a Member State of the European Union, its transmission to the Securities Commission (hereinafter referred to as "the Commission ') and more detailed rules for the postponement of the disclosure of internal information, including the definition of reasons for the postponement of publication and the manner of confidentiality of internal information.
Disclosure of internal information
(1) The internal information to be published by the issuer under the law in a way that allows remote access shall be published by the issuer in its full version on its website (URL address) immediately after it has become aware of it or may have been, in the manner in which the issuers usually publish information on their activities. In doing so, they shall in particular ensure that:
(a) the Internet address has been accessible to the public without restriction via the Internet data network and can be easily searched by business or by the name of the issuer and provided free of charge by the issuer,
(b) the internal information published took the form of a data file suitable for download, in a commonly used format;
(c) the internal information disclosed in this manner has been made available continuously since publication for at least 5 years, or for the time when the investment instrument is admitted to trading on the market referred to in Article 1, if that period is less than 5 years.
(2) At the same time, the issuer shall ensure that internal information is published in full or by reference to a mass and regularly visited financial server that disseminates information relating to the capital market. The list of servers shall be published by the Commission in the Securities Commission Bulletin and at its website. This shall not apply if the issuer has simultaneously published internal information in addition to the method referred to in paragraph 1:
(a) at least one national distribution diary; or
(b) as a report from the Agency dealing with the dissemination of information relating to the capital market.
(3) Where significant changes are made to inside information already published, that change shall be made public in the same way as the original inside information has been published. If, after disclosure, the issuer finds inside information that it contains incorrect data, it shall immediately publish a correction of the original inside information, explaining the reasons for the correction.
Sending inside information to the Commission
The issuer is obliged to send inside information The Commission shall be informed by e-mail without delay after it has been informed or could have been informed. A report containing inside information shall be provided by the issuer with a guaranteed electronic signature based on a qualified certificate issued by an accredited certification service provider (2).
Deferred disclosure of inside information
(1) The serious reasons for which the issuer may delay the disclosure of internal information are in particular:
(a) ongoing negotiations and related facts where the outcome or orderly conduct of such negotiations could be adversely affected by the disclosure of internal information, in particular when the conduct is conducted for the purpose of the long-term financial recovery of an issuer whose financial situation is seriously and immediately compromised;
(b) decisions taken or contracts concluded by managers or by an issuer's authority for which approval by another issuer's authority is required if disclosure of inside information before such approval, together with a current statement that the decision or contract has not yet been approved, would jeopardise the correct assessment of inside information by investors.
(2) An issuer may defer disclosure of internal information only if it takes measures to enable it to disclose internal information without delay after it has ceased to be able to safeguard its confidentiality and ensures that access to such information is checked in particular by:
(a) implement effective measures to prevent access to inside information to persons other than those who are essential to the proper performance of their functions within the issuer;
(b) take the necessary measures to inform any person with access to inside information of the obligations arising from legislation in relation to inside information and of penalties relating to misappropriation or unauthorised dissemination of inside information.
(3) If any of the conditions referred to in paragraph 1 or 2 are no longer met or the confidentiality of the inside information has been infringed, the issuer shall be obliged to disclose the inside information immediately after it has become aware or may have been aware of that fact.
Notification of postponement of disclosure of inside information
The issuer shall immediately notify: The Commission shall be informed by e-mail of the postponement of the publication of internal information, stating the reasons for the postponement and the measures taken pursuant to Article 4 (2). The notification referred to in the previous sentence shall be provided by the issuer with a guaranteed electronic signature based on a qualified certificate issued by an accredited certification service provider (2).
Efficacy
This decree shall take effect on the 15th day following its publication, with the exception of the provisions of Sections 3 and 5 of the second sentence, which shall take effect on 1 September 2004.
Member of the Presidium acting as Chairman:
Ing. Shimáček v. r.
1) Commission Directive 2003 / 124 / EC of 22.12.2003 implementing Directive 2003 / 6 / EC of the European Parliament and of the Council as regards the definition and publication of confidential information and the definition of market manipulation.
2) Article 11 of Act No. 227 / 2000 Coll., on Electronic Signature and on the Amendment of Certain Other Acts (Act on Electronic Signature), as amended by Act No. 226 / 2002 Coll.
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Regulation Information
| Citation | Decree No. 379 / 2004 Coll., on rules on the handling of internal information |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 24.06.2004 |
|---|---|
| Effective from | 09.07.2004 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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