On September 1, 2023, the Polish Financial Supervision Authority (KNF) published a press release to inform that MM Prime TFI SA, an investment fund management company located in Warsaw which was recently fined for non-compliance with various reporting obligations, has filed an application to have its case reconsidered by the KNF.
To recall, on July 21, 2023, the company was fined a total of PLN 300,000 for failing to deliver various financial reports in connection with Województwa Zachodniopomorskie Fundusz Inwestycyjny Zamknięty (West Pomeranian Voivodeship Closed Investment Fund) in liquidation, constituting a violation of Article 225 of the Act of 27 May 2004 about investment funds and management of alternative funds (please refer to EventID 22497 in this context for more information).
Due to the application for reconsideration, the decision of the fine is not final yet.
Złożenie przez MM Prime TFI SA wniosku o ponowne rozpatrzenie sprawy
ID
24803
Other Features
closed-end funds
fund management
liquidation
penalties
reporting
Date Published: 2023-09-01
Regulatory Framework: Act of 27 May 2004 about investment funds and management of alternative funds
Regulatory Type: information
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