On April 21, 2023, the Polish Financial Supervision Authority (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, 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 Administrate Court which now ruled that the fine was legal.
W sprawie Raiffeisen Bank Polska NSA orzekł na korzyść KNF
ID
22875
Other Features
AIF
banks
capital management companies
custodian
fund management
penalties
Date Published: 2023-04-20
Regulatory Framework: Alternative Investment Fund Managers Directive (AIFMD)
Regulatory Type: information
ID 26539
Where a company loses its authorization to provide broker services, KNF requests that all ...
ID 26462
Since 2019, KNF has observed a spike in the number of firms calling themselves „fami ...
ID 26421
Starting 1 January 2024, there will be changes to reporting and disclosure obligations the ...
ID 26419
Following KNF’s imposition of a fine on Prosper Capital Dom Maklerski SA in March 20 ...
You are on the training version of RISP core with limited functions and data.
Please subscribe to RISP core for professional or academic use. We supply free real time datasets for approved academic research; professional subscriptions start at 950€ plus VAT per annum.