Events listed in Poland
Uchwała KNF ws. określenia zasad wyboru firmy inwestycyjnej
ID 26539
Where a company loses its authorization to provide broker services, KNF requests that all assets be transferred to another company. The company chosen by KNF must fulfill all of the following criteria: – have officially submitted an interest to take over the assets – have enough own capital – offer broker services as their activity – have an official authorisation to settle transactions – ...
Działalność w modelu „family office”
ID 26462
Since 2019, KNF has observed a spike in the number of firms calling themselves „family offices“ offering broker services. Broker services are only allowed if a firm is officially registered with KNF’s register. Failing to do so is a violation of Article 178 of the Act on Trading in Financial Instruments and, since 9 September 2023, can result in a monetary fine up to ...
Nowa sprawozdawczość funduszy TFI i funduszy inwestycyjnych
ID 26421
Starting 1 January 2024, there will be changes to reporting and disclosure obligations therefore KNF has posted a summary on this website. The following information is posted online: 1. Reporting rules after 1 January 2024. 2. Information on the reporting format changes. 3. Information about on the IT systems used. 4. Reporting map, to find information quickly. 5. Q&As and FAQ on reporting obligations
WSA oddalił skargę Prosper Capital DM SA na decyzję KNF
ID 26419
Following KNF’s imposition of a fine on Prosper Capital Dom Maklerski SA in March 2023 (eventid=20339) in the amount of PLN 1.200.000 for: 1. failing to adequately assess the suitability of products for a target market, 2. failing to adequately assess the suitability of a product for clients (the questionnaire used did not sufficiently support such assessment), 3. distributing bonds to customers which were ...
Nałożenie kary pieniężnej na Chemoservis-Dwory SA w upadłości
ID 26400
On 27 October 2023, KNF has imposed a fine on Chemoservis-Dwory SA in the amount of PLN 500.000 for failing to submit end-of-year, mid-year and quarterly financial statements for 2018 and 2019, which is a violation of Article 56 (1) (2) (b) of the Act of 29 July 2005.
Nałożenie kary pieniężnej na ORIGIN TFI SA
ID 26382
KNF has imposed a fine on ORIGIN TFI SA in the amount of PLN 560.000 for failing to submit both the end-of-year financial statements for 2021 and the mid-year financial statements for 2022 in a timely manner of the following funds: – EMAI Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych, which is currently in liquidation – EPEF 2 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych – EPEF Fundusz ...
Nałożenie kary pieniężnej na TUZ TUW
ID 26365
KNF has imposed a fine on TUZ Towarzystwo Ubezpieczeń Wzajemnych in the amount of PLN 200.000 for the following: – failure to submit end-of-year and solvency and financial condition reports (SFCR) to KNF for 2020 within 14 weeks of year-end – failure to disclose the financial condition report (SFCR) to KNF for 2020 within 14 weeks of year-end – failure to implement control procedures ...
Stanowisko KNF dotyczące jednolitych zasad stosowania punktu 20. rekomendacji U
ID 26318
In June 2023, KNF has released good practices within Recommendation U (see eventid=21895). This article is an explanation on KNF’s stand for point 20 from Recommendation U, which states that KNF expects the insurance products sold to the client to be adequate to their needs, while the service price will be dependent on the actual interest of the client and the value of the ...
Stanowisko KNF ws. polityki dywidendowej w 2024 roku
ID 26288
On 14 December 2023, KNF has decided on the dividend payment politics for the following financial institutions: – Commercial Banks – Cooperative Banks – Insurance firms – Investment fund companies – Commercial pension companies – Brokers The document lists out recommendations and calculation methodology based on 2023 results. Each financial institution, depending on the structure and the year-end’s profit, will receive a separate docu ...
Ostateczna decyzja ws. Everest Investment Management SA
ID 26274
Following an imposed fine on Everest Investment Management SA (see eventid=20336) in March 2023 and then a its request for a reconsideration (see eventid=20842) in May 2023, KNF has released a final decision. To recall, on 24 March 2023, the company was fined a total of PLN 100,000 for: 1. failing to meet own funds requirements from December 10, 2021 to June 8, 2022 ...