President signs amendment to capital trading act

Czech President Václav Klaus has singed into law an amendment to the act on capital trading. The new amendment modifies the obligations of companies and other entities traded on the securities exchange, and puts increased demands on the form and content of the annual and half-yearly reports of securities issuers. Other new aspects of the act forbid employers from influencing their employees in the selection of a pension fund, and allow such funds to charge clients up to 800 crowns should they decide to switch to a competing fund within the first five years of their contract.