Ponowne rozpoznanie sprawy Raiffeisen Bank Polska korzystne dla KNF

On 19 April 2023, the Supreme Administrative Court considered the cassation appeal submitted by the KNF and upheld the raised allegation of no violation of Article 107 § 3 of the Code of Administrative Procedure regarding the adequacy of reasoning in the decision.
On 21 April 2023, the KNF published a press release to inform that the Supreme Administrative Court upheld the KNF’s decision over a penalty on Raiffeisen Bank Polska that was imposed in 2018.
Specifically, back then, (see event 20692) the KNF fined the bank PLN 5,000,000 for repeatedly violating Article 10 of the Act of 27 May 2004 on investment funds and management of alternative investment funds for not adequately performing its duties as a depository of an investment fund. The bank subsequently filed an appeal to this decision based on alleged violations of administrative procedures which was then confirmed by the Provincial Administrative Court. Following this court decision, the KNF filed an appeal with the Supreme Administrative Court, which now ruled that the fine was legal.