Złożenie przez Mount TFI SA wniosku o ponowne rozpatrzenie sprawy

Following the decision to impose a fine of PLN 200,000 on Mount Towarzystwo Funduszy Inwestycyjnych SA (Mount TFI SA) in connection with the violation of investment restrictions pertaining to investments in any one issuer on February 10, 2023 (please see EventID 19629 for more information), the Polish Financial Supervision Authority (KNF) has published another press release in this context.
Therein, the regulator informs that Mount TFI SA has applied for reconsideration of its case which implicates that the decision of KNF is not yet final. To recall, Mount TFI SA was fined for not observing the investment restrictions under Article 145 of the Act of 27 May 2004 on investment funds and the management of alternative investment funds stipulating that all investments in equity shares and fixed income securities of any one issuer may not exceed – in aggregate – 20% of a fund’s net asset value. This restriction was continuously violated between June 30, 2018 and June 30, 2021 in connection with the investments of the Real Estate Income Assets Closed-End Fund.