The Polish Financial Supervision Authority (KNF) published a press release to inform that the Provincial Administrative Court of Warsaw (WSA) has confirmed the decision of the KNF concerning a fine of PLN 2,375,000 which was imposed on Altus TFI SA by the KNF in 2019. The decision was previously appealed by the company.
Specifically, the KNF had imposed such fine due to violations of the Regulation of the Minister of Development and Finance of December 24, 2007 on the special rules of accounting for investment funds „in connection with the valuation of shares of joint-stock companies introduced to trading on NewConnect“.
According to the KNF, the ruling of the Provincial Administrative Court is not yet final.
Other Features
fund
securities
securities trading
valuation
Date Published: 2023-03-02
Regulatory Framework: Undertakings for Collective Investment in Transferable Securities Directive (UCITS Directive)
Regulatory Type: information
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