Events listed in Poland
Korzystanie z usług platform crowdfundingowych na cele gospodarcze
ID 25721
The KNF has issued a press release informing about the use of crowdfunding platform for economic purposes. According to the authority, using the crowdfunding platform for economic purposes can help project owners obtain either: – funding from investors, in the form of securities such as equities or bonds (investment crowdfunding) or – loans, for a specific amount and timeframe (loan crowdfunding) However, projects usually ...
Ostateczna decyzja dot. kar nałożonych na Powszechny Zakład Ubezpieczeń SA
ID 25686
Following the decision of the Polish Financial Supervision Authority (KNF) to impose a fine on Powszechny Zakład Ubezpieczeń SA. in the amount of PLN 685.200 (see eventid=16321), the KNF has confirmed its position in a final decision.
Ponowne rozpoznanie sprawy Raiffeisen Bank Polska korzystne dla KNF
ID 25632
On 19 April 2023, the Supreme Administrative Court considered the cassation appeal submitted by the KNF and upheld the raised allegation of no violation of Article 107 § 3 of the Code of Administrative Procedure regarding the adequacy of reasoning in the decision. On 21 April 2023, the KNF published a press release to inform that the Supreme Administrative Court upheld the KNF’s decision ...
Communication from the NWG Steering Committee on changes in the expected Roadmap ...
ID 25496
In September 2022, the NWG Steering Committee in Poland approved the Roadmap for replacing WIBOR and WIBID benchmarks with a new one to comply with the BMR. The process is to ensure a smooth transition for all participants, and the users have shown commitment to the transformation. However, the challenge lies in the conversion of legacy contracts and financial instruments that use the WIBOR ...
Nowy Regulamin korzystania z ESPI
ID 25492
On 25 October 2023, the KNF published Decree 58/2023 of 20 October 2023 regarding the „Regulations for the use of the Electronic Transmission System Information (ESPI)”. The regulation provides general provisions for the use of ESPI, including definitions of terms and the roles of different ESPI participants. ESPI serves to streamline financial reporting by enabling electronic transmission of information between financial entities and regulatory ...
Stanowisko UKNF w sprawie programów poleceń oraz programów partnerskich ...
ID 25284
UKNF has released a statement drawing particular attention to certain aspects of „referral and affiliate programmes“ where investment firms commission clients to acquire new or potential clients. Referral programmes Investment firms engage their clients to promote the firm’s brokerage services. After a successful referral, the client would receive some benefits, usually in the form of financial instruments, money to purchase other financial instruments or .. ...
Ostateczna decyzja ws. spółki Czerwona Torebka
ID 25218
On 25 August 2023, KNF has imposed a fine of PLN 100.000 on Czerwona Torebka SA for including the purchase of Malpka SA stocks in the reporting without indicating the financial impact of this activity. This has violated Article 56, Point 1 of the Act of 29 July 2005 on public offering and the conditions for introducing financial instruments to the organized trading system ...
NSA uchylił postanowienie WSA w Warszawie wstrzymujące wykonanie decyzji KNF ...
ID 25208
In 2022, KNF has imposed a fine on Altus SA (see eventid=18037). As a result of a complaint submitted by Altus SA to WSA in Warsaw, KNF’s decision to impose the fine has been put on hold. The firm concluded that the fines could lead to a loss of control over its business activities. The KNF had submitted a complaint regarding the firm’s complaint ...
Stanowisko UKNF dot. prawidłowego wykorzystania w sektorze finansowym rozwiązań w ...
ID 25162
KNF has released a list of their view on best practices for fulfilling the requirements (by institutions) that stem from the Law from 1 March 2018 on anti-money laundering and combating the financing of terrorism, especially when: – business relations with new counterparties commence without the physical presence of the client – activities are outsourced to third parties – introducing internal control and risk ...
The NWG Steering Committee has adopted a Recommendation on the rules and methods of ...
ID 25142
Following a consultation in July 2023 (see eventid=22051), the NWG has published the responses and fully adopted the recommendations from its draft version (with some lexicon and orthographic corrections but without changes to the recommendations). The topic of this recommendation is the approach towards the dealing with debt instruments whose interest rates are in any way tied to WIBOR, the Warsaw Interbank Offered Rate, ...