Financial intermediation and financial advisory services
Opinions and statements (in Slovak language only)
Professional examinations (in Slovak language only)
Specialised financial education (in Slovak language only)
Financial intermediation and financial advisory services are regulated by Act No 186/2009 Coll. on financial intermediation and financial advisory services, in the followings sectors:
- Insurance or reinsurance
- Capital marked
- Deposit-taking
- Credits and loans, housing loans, consumer loans
- Supplementary pension saving
- Old-age pension saving
Act No 186/2009 Coll. introduces the categories of persons performing financial intermediation or providing financial advisory services:
- Independent financial agent
- Tied financial agent
- Subordinate financial agent
- Ancillary insurance intermediary
- Financial adviser
- Financial intermediary from other member state engaged in the provision of housing loans
- Financial intermediary from other member state in the insurance and reinsurance sector
- Tied investment agent
FINANCIAL INTERMEDIATION
Financial intermediation means the performance of at least one of the following activities:
(a) submission of an offer to conclude a financial service agreement, conclusion of a financial service agreement, and the conduct of further activities leading to the conclusion or amendment of a financial service agreement
(b) provision of expert assistance, information and advice to a customer with a view to concluding or terminating a financial service agreement
(c) cooperation in the administration of a financial service agreement where the nature of the financial service makes such cooperation possible
(d) cooperation in the handling and settlement of claims arising to a customer from a financial service agreement, mainly in connection with events that are crucial for the occurrence of such claims where the nature of the financial service enables such cooperation
(e) the provision of information concerning one or more financial service agreements in accordance with criteria selected by customers through a website or other media and the compilation of a product ranking list, including price and product comparison, or a discount on the price of a financial service agreement, when the customer is able to directly or indirectly conclude a financial service agreement using a website or other media.
Financial intermediation in the capital market sector means
(a) the provision of investment services the acceptance and transfer of customers’ orders concerning transferable securities, shares and other equity participations in collective investment funds and their promotion or
(b) the provision of advisory services concerning investment in relation to transferable securities, shares and other equity participations in collective investment funds.
Within the insurance or reinsurance sector this includes also recognition, assessment and elaboration of analyses of insurance risks related to the insurance products offered.
FINANCIAL ADVISORY SERVICES
Financial advisory services mean the provision of expert assistance, information, opinions, advice and individual financial plans to a customer in relation to one or more financial services based on an objective analysis of a sufficient number of available financial services, including the subsequent conclusion or amendment of a financial service agreement at the customer’s request, on the customer’s behalf, and at the customer’s expenses.
Within the capital market sector this also includes the provision of advisory services concerning investment in relation to negotiable securities, mutual fund allotment certificates, and securities issued by foreign collective investment undertakings.
Within the insurance or reinsurance sector this also includes the recognition, assessment and elaboration of objective insurance risk analyses.