Cofnięcie zezwolenia na prowadzenie działalności maklerskiej przez Ventus Asset Management SA

The Polish Financial Supervision Authority, KNF, has published a press release to inform that on August 24, 2023, it withdrew the authorization of Ventus Asset Management SA to perform brokerage activities in Poland. The regulator’s decision resulted from:
– ongoing and severe violations of brokerage principles by the firm, particularly of reporting and information obligations to both the KNF and financial trading participants;
– the firm’s failure to meet disclosure requirements, including the mandated publication of essential information on its website as required by legislation; and
– the firm’s insufficient and inadequate risk management leading to an inability to maintain the required minimum capital.
As the maintainance of robust risk management practices, the compliance with reporting and information duties, and the satisfaction of capital requirements are critical for the functioning of the financial market and the protection of investors, the KNF saw no choice but to withdraw the authorization. Ventus Asset Management SA now has got one month to close down its business.