Abstract
This article focuses on the issue of legal aspects of the collective investment securities admission to trading on a regulated market. In the first part, brief overview of the terms investment fund and collective investment securities is provided.
In the second part, a concept of regulated markets is introduced as well as their impact on trading with collective investment securities. The main section of this article analyses the regulation of the collective investment securities admission to trading on a regulated market in the current European regulation (MiFID), in the upcoming European regulation (MiFID II) as well as in the relevant Czech law, in the Act No. 256/2004 Coll., on Undertaking on the Capital Market.
The above-mentioned regulation is not only analysed but also assessed in many aspects and potential gaps in regulation are also identified.