On May 15, 2023, the Polish Financial Supervision Authority (KNF) published a press statement to inform of a final decision on penalties that were imposed on BBI Development SA in 2022. Specifically, in July of 2022, the company was fined PLN 600,000 for violating Article 17 of the Market Abuse Regulation (MAR) due to its failure to publicly disclose information about the „commencement of negotiations with the Liebrecht&Wood group as regards the sale of the Centrum Marszałkowska project“. BBI Development SA subsequently asked for a reconsideration of the case.
In its final decision now, the KNF upholds the decision that was rendered in 2022 and confirms its original fine.
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Date Published: 2023-05-15
Regulatory Framework: Market Abuse Regulation (MAR)
Regulatory Type: information
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