Tuesday, September 19, 2006
Poland's New Financial Regulator
Effective September 6, Poland has a new financial regulator. The Polish Financial Supervision Act, passed on July 21, 2006, established a single financial regulator to replace the Insurance and Pension Funds Supervisory Commission, the Securities and Exchange Commission and the Banking Supervisory Commission. The following article about the change summarizes the impact. The new body, the KNF, will supervise all areas previously supervised by these other regulatory bodies.