Events listed in [KNF] Polish Financial Supervision Authority
Cofnięcie zezwolenia wobec zakładu ubezpieczeń NOVIS
ID 23608
On June 14, 2023, the Polish Financial Supervision Authority, KNF, published a statement to inform of the following: On June 1, 2023, the National Bank of Slovakia (NBS) decided to revoke the authorization of NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poist’ovňa (collectively referred to as NOVIS) to conduct insurance activities. NOVIS is a life insurance company registered in Slovakia since ...
W trzech sprawach ubezpieczeniowych KNF wygrywa przed NSA
ID 23597
The Polish Financial Supervision Authority (KNF) has issued a press statement to announce that the Supreme Administrative Court (NSA) has ruled in favor of the KNF with respect to the cases of three insurance companies that were previously fined by the regulator for various infringements. 1. The first case concerns PZU SA which was fined in September 2019 a total of PLN 899,000 for ...
Sąd oddalił powództwo przeciwko UKNF w sprawie dot. roszczeń obligatariuszy GetBack ...
ID 23561
The Polish Financial Supervision Authority (KNF) has issued a press statement to inform that the District Court for Warszawa-Śródmieście in Warsaw has ruled in favor of the KNF, dismissing the cases against KNF made by three holders of bonds of GetBack SA. In its judgement, the court noted that the plaintiffs failed to demonstrate the „unlawfulness of the action“ as well as the lack ...
Ważne zmiany w funkcjonowaniu PPE oraz obowiązek dostosowania dotychczasowych PPE
ID 23510
In view of the entry into force of the Law of April 7, 2022 on amending the Law on Employee Pension Programs (EPPs) and the Law on Individual Pension Accounts and Individual Retirement Security Accounts and the far-reaching modifications affecting institutions managing occupational pension funds, employers, and scheme participants alike, the Polish Financial Supervision Authority, KNF, has published a statement in which it briefly ...
Ostateczna decyzja ws. nałożenia kar na Lubelski Chmiel Investment sp. z o.o.
ID 23501
The Polish Financial Supervision Authority (KNF) has issued a press statement to announce a final decision with respect to fines that were imposed on Lubelski Chmiel Investment sp. z o.o. on 22 December 2021. To recall, the KNF sanctioned the company with a penalty of (1) PLN 900,000 for failing to notify Skarbiec Holding SA and the Commission of changes in the ownership of ...
Komunikat ws. decyzji podjętych przez Komisję Nadzoru Finansowego w dniu 31 maja ...
ID 23480
The Polish Financial Supervision Authority (KNF) has published a press release to inform of several decisions that the KNF made at its bi-weekly meeting on May 31, 2023. These include the following, among others: 1. The participants agreed not to object to an acquisition of Bank Handlowy w Warszawie SA in the excess of 50% of voting share capital by Citigroup Inc. via its ...
W sprawie ING Banku Śląskiego WSA orzekł na korzyść KNF
ID 23465
The Polish Financial Supervision Authority (KNF) has published a press release in which it informs that the Provincial Administrative Court (WSA) in Warsaw has confirmed the decision of the KNF and thus dismissed a corresponding complaint as regards a fine that was previously imposed on ING Bank Śląski SA for not duly exercising its control over fund valuation matters and for performing its depository ...
Odwieszenia obrotu akcjami spółki ASM Group
ID 23448
The Financial Supervision Authority (KNF) has published a press release as regards the temporary suspension of trading in shares of ASM Group S.A. Specifically, on May 25, 2023, the regulator sent a request to the Warsaw Stock Exchange to suspend trading in shares due to the company’s failure to publish relevant financial reports on time. Trading was subsequently suspended on May 26, 2023 and ...
Public consultation on the NWG’s recommendation on interest rate derivatives
ID 23436
In view of the transition from the (use of) WIBOR, the Warsaw Interbank Offered Rate, to the Warsaw Interest Rate Overnight index WIRON, the National Working Group for the benchmark reform (NWG) has now come up with and seeks feedback on draft recommendations for an adequate fallback rate for the WIBOR benchmark in interest rate derivatives in case a fallback rate is triggered. Specifically, ...
W sprawie Ulmus SA (dawniej Saturn TFI SA) WSA orzekł na korzyść KNF
ID 23380
On May 24, 2023, the Polish Financial Supervision Authority (KNF) published a press release to inform that the Provincial Administrative Court (WSA) upheld the KNF’s decision over a penalty and the revocation of the license of Ulmus SA (formerly Saturn TFI SA). Specifically, the court confirmed that the decision made by the KNF was adequate and in line with Polish rules and regulations as ...