University of Pula. Faculty of economics and tourism "Dr. Mijo Mirković".
Abstract
Prema Zakonu o tržištu kapitala (NN br. 54/13 i 18/15, čl.3) investicijsko društvo u Republici Hrvatskoj je pravna osoba čija je redovita djelatnost pružanje jedne ili više investicijskih usluga trećima i/ili obavljanje jedne ili više investicijskih aktivnosti na profesionalnoj osnovi. Hrvatska agencija za nadzor financijskih usluga nadzire organizacijske uvjete, strategije, politike i postupke koje investicijsko društvo ima uspostavljeno u svojim odredbama poslovanja. Investicijsko društvo obuhvaća osnovne usluge i aktivnosti, ali isto tako i pomoćne. Broj usluga i aktivnosti se značajno povećao s obzirom na to da je u sam sustav implementirana Direktiva o tržištima financijskih instrumenata. Provedena analiza poslovanja investicijskih društava u Republici Hrvatskoj pokazala je da broj investicijskih društava pada što je dovelo do pada prihoda s osnove pružanja investicijskih usluga i obavljanja investicijskih aktivnosti. Povećanjem dobiti u 2013. I 2014. godini dovelo je do povećanja profitabilnosti investicijskih društava. Investicijska društva u Republici Hrvatskoj izložena su operativnom riziku (gubitak nastao zbog neprimjerenosti organizacijskih, kadrovskih ili tehničkih uvjeta), kreditnom rizik (neispunjenje novčane obveze prema investicijskom društvu) te tržišnom riziku. Ova analiza pokazuje da se broj investicijskih društava smanjio, međutim to nije spriječilo njihovu uspješnost u poslovanju. Poslovanje investicijskih društava u budućnosti je upitno s obzirom na to da su implementirana nova pravila poslovanja investicijskih društava putem europskih direktiva.According to the Law on Capital Market in the Republic of Croatia (NN br. 54/13 i 18/15, art. 3) an investment company can be defined as a legal entity who provides one or more investment services to third parties and/or performs one or more investment activities on a professional basis. Croatian Agency for Supervision of Financial Services monitors all requirements, strategies, policies and procedures that an investment company has established in its business. Investment companies cover basic and auxiliary services and activities. The number of services and activities has significantly increased due to the fact that the system itself implemented the markets in financial instruments Directive. The analysis conducted over the business of the investment companies shows that the number of investment companies in the Republic of Croatia is decreasing. The following led to revenue fall from investment services and investment activities. The increase in profit in 2013 and 2014 led to increased profitability of investment companies. Investment companies in the Republic of Croatia are exposed to operational risk (loss from the inadequacy of organizational, personnel and technical requirements), credit risk (non-fulfillment of financial obligations to the investment company) and market risk. The analysis in this paper shows that the number of investment companies declined, however it did not stop their successful business. The overall business for the investment companies in the future is questionable due to the fact that there have been implementations of the new rules for investment companies through European union directives
