# Investment Firm licence (povolení k činnosti obchodníka s cennými papíry - OCP) (Czech Republic)

Source page: https://protegra.io/licensing/licences/investment-firm/czech-republic/

The Investment Firm licence (povolení k činnosti obchodníka s cennými papíry - OCP) is issued by Czech National Bank (CNB) under Act No. 240/2013 Coll. on Management Companies and Investment Funds. It can be passported to the other EU/EEA states by notification. The official register lists 43 current holders. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Investment Firm licence (povolení k činnosti obchodníka s cennými papíry - OCP) [1] |
| --- | --- |
| Issued by | [Czech National Bank](https://protegra.io/licensing/regulators/cnb-czechia/) |
| Jurisdiction | [Czech Republic](https://protegra.io/licensing/jurisdictions/czech-republic/) |
| Licence family | [Investment firm / broker-dealer](https://protegra.io/licensing/licences/investment-firm/) |
| Legal basis | Act No. 240/2013 Coll. on Management Companies and Investment Funds [2]; Directive 2014/65/EU on markets in financial instruments (MiFID II) [3]; Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD) [4] |
| Passporting | EU/EEA passport available |
| Application fee | CZK 20,000 to CZK 100,000 depending on scope of investment services [5] |
| Statutory decision time | 6 months from receipt of a complete application [3] |
| Public register | [official register](https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf) [6] |
| Current holders | 43 [6] |

## What it lets you do

- [Reception and transmission of orders](https://protegra.io/licensing/activities/order-reception-transmission/)
- [Execution of orders on behalf of clients](https://protegra.io/licensing/activities/order-execution/)
- [Dealing on own account](https://protegra.io/licensing/activities/dealing-own-account/)
- [Portfolio management](https://protegra.io/licensing/activities/portfolio-management/)
- [Investment advice](https://protegra.io/licensing/activities/investment-advice/)
- [Underwriting or placing on a firm commitment basis](https://protegra.io/licensing/activities/underwriting-firm-commitment/)
- [Placing without a firm commitment](https://protegra.io/licensing/activities/placing-without-commitment/)
- [Operating a multilateral trading facility (MTF)](https://protegra.io/licensing/activities/operating-mtf/)
- [Operating an organised trading facility (OTF)](https://protegra.io/licensing/activities/operating-otf/)
- [Safekeeping and administration of financial instruments](https://protegra.io/licensing/activities/safekeeping-financial-instruments/)
- [CFD and forex brokerage](https://protegra.io/licensing/activities/cfd-fx-brokerage/)

- **Reception and transmission of orders.** Receiving client orders in financial instruments and passing them to another firm for execution.
- **Execution of orders on behalf of clients.** Concluding agreements to buy or sell financial instruments on behalf of clients.
- **Dealing on own account.** Trading financial instruments against proprietary capital, which includes acting as counterparty to client trades.
- **Portfolio management.** Managing client portfolios that include financial instruments on a discretionary, client-by-client basis.
- **Investment advice.** Giving personal recommendations to a client about one or more transactions in financial instruments.
- **Underwriting or placing on a firm commitment basis.** Guaranteeing the sale of an issue of financial instruments by committing to buy what is not sold to investors.
- **Placing without a firm commitment.** Placing financial instruments with investors on a best-efforts basis, without guaranteeing the sale.
- **Operating a multilateral trading facility (MTF).** Running a multilateral system, other than a regulated market, that matches third-party interests in financial instruments under non-discretionary rules.
- **Operating an organised trading facility (OTF).** Running a multilateral system for non-equity instruments where the operator exercises discretion over order execution.
- **Safekeeping and administration of financial instruments.** Holding financial instruments for clients and related services such as cash and collateral management, as an ancillary service.
- **CFD and forex brokerage.** Offering retail and professional clients contracts for difference and rolling spot forex, usually as dealing on own account or order execution.

## Where it is valid

_Issued in Czech Republic (gold); can be passported to the other EU/EEA states (blue) by notification._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## How long it takes

Statutory: 6 months from receipt of a complete application [3]. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.

## Buying a company that already holds it

**Prior notification with an objection period.** Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance. [7]

## Laws behind it

- [Directive 2014/65/EU on markets in financial instruments](https://protegra.io/licensing/laws/eu-mifid2-2014-65/): Directive 2014/65/EU
- [Alternative Investment Fund Managers Directive](https://protegra.io/licensing/laws/eu-aifmd-2011-61/): Directive 2011/61/EU

## Sources

1. [cnb.cz: licensing and approval proceedings](https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/): retrieved 2026-09-24
2. [zakonyprolidi.cz: 2013 240](https://www.zakonyprolidi.cz/cs/2013-240): retrieved 2026-09-24
3. [eur-lex.europa.eu: TXT (32014L0065)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065): retrieved 2026-09-24
4. [eur-lex.europa.eu: TXT (32011L0061)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061): retrieved 2026-09-24
5. [zakonyprolidi.cz: 2004 634](https://www.zakonyprolidi.cz/cs/2004-634): retrieved 2026-09-24
6. [cnb.cz: fms 2024 (PDF)](https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf): retrieved 2026-09-24
7. [zakonyprolidi.cz: 2017 370](https://www.zakonyprolidi.cz/cs/2017-370): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.