The Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) has published a press statement to inform that it is upholding its decision to fine Warsaw-based GetBack SA (now CAPITEA SA) as prescribed in the statement and to withdraw the company’s permission to manage securitized receivables in securitization funds.
GetBack SA was previously penalized in 2020 due to its engagement in activities in excess of the scope that was permitted by their managed investment funds‘ statutes and for not observing investors‘ interest when managing securitized receivables. Numerous closed alternative investment funds and investors were affected by this malpractice as outlined in the press statement.
Other Features
AIF
AIF investment vehicle
AIFM
fund management
penalties
prohibition
securitisation
Date Published: 2023-03-15
Regulatory Framework: Alternative Investment Fund Managers Directive (AIFMD)
Regulatory Type: information
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