BIP
Polish Financial Supervision Authority (KNF)
modification date
The competence of the PFSA has been determined under the Act of 17 January 2019 on financial market supervision and acts regulating activities of particular sectors of the financial market, i.e. banking, insurance, pensions, capital, cooperative banks and payment services.
The PFSA’s supervision of the financial market aims at ensuring its proper functioning, stability, security and transparency, trust to the financial market, and protection of the participants’ interests by providing reliable information on the market.
The PFSA implements the above goals by carrying out the licensing, regulatory, control and disciplinary function. The PFSA issues licenses for banks, cooperative banks, domestic payment institutions, insurance and reinsurance undertakings, open pension funds, investment funds or investment companies. The legislator allocated a set of competencies with regard to supervisory measures to the PFSA. Thus, e.g. in case a violation of existing legal regulations is found, the PFSA may impose financial penalties provided for by the law and withdraw license held by a financial institution. If a market practice is controversial, the PNSA may issue individual recommendations for a specific entity or recommendations or guidelines aimed to affect the entire financial market sector. The PFSA analyses reports submitted by financial institutions on running basis and assesses whether they satisfy legally defined capital requirements. The scope of competence of the PFSA also includes carrying out control procedures in supervised entities. However, it should be emphasised that both the above and other supervisory measures are taken by the PFSA ex officio not on a motion by a customer or any other participant in the financial market. This means that any reports on irregularities in activities of supervised entities submitted to the PFSA are not by themselves a basis for application on specific supervisory measures by the PFSA. Nonetheless, they are analysed on each occasion and may initiate supervisory measures. Reports constitute a very important source of information on the functioning of the financial market.
Receipt of reports
The PFSA receives reports on irregularities in activities of supervised entities. The information from reports are used to analyse market practices and take action aimed at eliminating possible practices violating legal regulations and/or customers’ interests. The PFSA does not consider the reported charges and does not take position in individual cases presented in the correspondence addressed to the supervision authority. Signals about irregularities, including the personal data contained therein, may be used in the supervisory measures, including submission to the entity supervised by the PFSA concerned.
CAUTION! If a person making reservations concerning the activities of supervised entities does not agree to providing their personal data to the supervised entity, they should include such information in the correspondence.
Please send any reports to the Customer Protection Department:
in writing:
– by a letter to: ul. Piękna 20, skr. poczt. 419, 00-549 Warszawa
– in person, in the office (address as above)
electronically:
– complaint forms concerning irregularities in the activities of supervised entities
– form on the ePUAP website
Reports in person are also accepted by Customer Protection Departament employees of the PFSA Office during their office hours on Mondays between 3.00 and 4.00 p.m. in the KNF Office in Warsaw ,at pl. Powstańców Warszawy 1. Appointments have to be made via phone, by calling 22 262 40 54. We inform hereby that the PFSA Office is not authorised to provide legal opinions or advice.
The PFSA’s supervision of the financial market aims at ensuring its proper functioning, stability, security and transparency, trust to the financial market, and protection of the participants’ interests by providing reliable information on the market.
The PFSA implements the above goals by carrying out the licensing, regulatory, control and disciplinary function. The PFSA issues licenses for banks, cooperative banks, domestic payment institutions, insurance and reinsurance undertakings, open pension funds, investment funds or investment companies. The legislator allocated a set of competencies with regard to supervisory measures to the PFSA. Thus, e.g. in case a violation of existing legal regulations is found, the PFSA may impose financial penalties provided for by the law and withdraw license held by a financial institution. If a market practice is controversial, the PNSA may issue individual recommendations for a specific entity or recommendations or guidelines aimed to affect the entire financial market sector. The PFSA analyses reports submitted by financial institutions on running basis and assesses whether they satisfy legally defined capital requirements. The scope of competence of the PFSA also includes carrying out control procedures in supervised entities. However, it should be emphasised that both the above and other supervisory measures are taken by the PFSA ex officio not on a motion by a customer or any other participant in the financial market. This means that any reports on irregularities in activities of supervised entities submitted to the PFSA are not by themselves a basis for application on specific supervisory measures by the PFSA. Nonetheless, they are analysed on each occasion and may initiate supervisory measures. Reports constitute a very important source of information on the functioning of the financial market.
Receipt of reports
The PFSA receives reports on irregularities in activities of supervised entities. The information from reports are used to analyse market practices and take action aimed at eliminating possible practices violating legal regulations and/or customers’ interests. The PFSA does not consider the reported charges and does not take position in individual cases presented in the correspondence addressed to the supervision authority. Signals about irregularities, including the personal data contained therein, may be used in the supervisory measures, including submission to the entity supervised by the PFSA concerned.
CAUTION! If a person making reservations concerning the activities of supervised entities does not agree to providing their personal data to the supervised entity, they should include such information in the correspondence.
Please send any reports to the Customer Protection Department:
in writing:
– by a letter to: ul. Piękna 20, skr. poczt. 419, 00-549 Warszawa
– in person, in the office (address as above)
electronically:
– complaint forms concerning irregularities in the activities of supervised entities
– form on the ePUAP website
Reports in person are also accepted by Customer Protection Departament employees of the PFSA Office during their office hours on Mondays between 3.00 and 4.00 p.m. in the KNF Office in Warsaw ,at pl. Powstańców Warszawy 1. Appointments have to be made via phone, by calling 22 262 40 54. We inform hereby that the PFSA Office is not authorised to provide legal opinions or advice.