||This bachelor thesis deals with the short history of Security Commission (hereinafter Commission) and its development in the Czech environment. It tries to defy the substantial causes of its foundation as located in changeable time of capital market after 1989. The main focus is directed on foreign regulation systems which, have been used as a model for creation of Czech regulatory system. A part of my work emphasizes the survey of Commission activity during successive years from 1.4. 1998 - 1.4. 2006. The aim of this thesis is to provide readers with a comprehensive overview on regulatory system within the capital market in Czech Republic and to consider the role of Commission in gradual development of financial market. The integral part of this paper is formed by events description leading to regulation system integration and the formation of surveillance in ČNB.