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Financial Supervision Authority (Poland)
The Polish Financial Supervision Authority, in Polish Urząd Komisji Nadzoru Finansowego (UKNF) is the main financial regulatory authority for Poland. UKNF was established in 2019 as a separate legal person under public law. It hosts the Financial Supervisory Commission or KNF (}), established in 2006 by merger of several pre-existing specialized authorities. The chair of the KNF is simultaneously the head of UKNF. The UKNF's responsibilities include oversight of banking, capital markets, insurance, pension scheme and electronic money institutions. History The KNF was formed on 19 September 2006 pursuant to the Financial Market Supervision Act of 21 July 2006. The new supervisory body took over the tasks of the Insurance and Pension Funds Supervisory Commission and of the Securities and Exchange Commission (Poland), which were abolished pursuant to that act. From January 1, 2008, the second phase of the merger of financial supervision in Poland, the Polish FSA took over from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission (Poland)
The Polish Securities and Exchange Commission (; KPWiG) was the financial government agency responsible for supervising compliance with regulations governing honest trade and competition until 2006 when it was absorbed into the Polish Financial Supervision Authority. The KPWiG was also responsible for ensuring universal access to reliable information about security papers and other exchange commodities on the market. The KPWiG also co-operates with government administrative organs, the NBP and institutions and participants in public trading on the stock market in the area of shaping the state's economic policy. The KPWiG also continuously monitors the functioning of all investment funds. From the start of its existence it has been head by Jacek Socha. On 19 September 2006 the institution was included in the newly established Polish Financial Supervision Authority () Activities According to Art. 13 sec. 1 of the Act on Public Trading in Securities, the tasks of the Commission in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poland
Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukraine to the east, Slovakia and the Czech Republic to the south, and Germany to the west. The territory has a varied landscape, diverse ecosystems, and a temperate climate. Poland is composed of Voivodeships of Poland, sixteen voivodeships and is the fifth most populous member state of the European Union (EU), with over 38 million people, and the List of European countries by area, fifth largest EU country by area, covering . The capital and List of cities and towns in Poland, largest city is Warsaw; other major cities include Kraków, Wrocław, Łódź, Poznań, and Gdańsk. Prehistory and protohistory of Poland, Prehistoric human activity on Polish soil dates to the Lower Paleolithic, with continuous settlement since the end of the Last Gla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warsaw
Warsaw, officially the Capital City of Warsaw, is the capital and List of cities and towns in Poland, largest city of Poland. The metropolis stands on the Vistula, River Vistula in east-central Poland. Its population is officially estimated at 1.86 million residents within a Warsaw metropolitan area, greater metropolitan area of 3.27 million residents, which makes Warsaw the List of cities in the European Union by population within city limits, 6th most-populous city in the European Union. The city area measures and comprises List of districts and neighbourhoods of Warsaw, 18 districts, while the metropolitan area covers . Warsaw is classified as an Globalization and World Cities Research Network#Alpha 2, alpha global city, a major political, economic and cultural hub, and the country's seat of government. It is also the capital of the Masovian Voivodeship. Warsaw traces its origins to a small fishing town in Masovia. The city rose to prominence in the late 16th cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulatory Authority
A financial regulatory authority or financial supervisory authority is a public authority whose role is to ensure the proper implementation of financial regulation within its scope of responsibility. Financial regulatory authorities include those in charge of bank supervision; of securities regulation, often referred to as securities commissions; of anti-money laundering supervision of financial firms; and of consumer protection in financial services, and more generally of enforcing "conduct-of-business" requirements, not to mention macroprudential regulation. Scope of authority Functional scope Some or all of these distinct mandates are often brought together in a single authority. Different jurisdictions have addressed the challenge of organizing financial regulation in multiple ways that have often evolved over time and display significant path dependence. In general, three types of financial supervisory architecture have been identified by scholars: * a "sectoral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Market
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S. Securities and Exchange Commission (SEC) oversee capital markets to protect investors against fraud, among other duties. Transactions on capital markets are generally managed by entities within the financial sector or the treasury departments of governments and corporations, but some can be accessed directly by the public. As an example, in the United States, any American citizen with an internet connection can create an account with TreasuryDirect and use it to buy bonds in the primary market. However, sales to in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Scheme
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension plan, defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "Retirement plans in the United States, retirement plan" and "Superannuation in Australia, superann ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Money
Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic computer database owned by a company or bank, within digital files or even on a stored-value card. Digital currencies exhibit properties similar to traditional currencies, but generally do not have a classical physical form of fiat currency historically that can be held in the hand, like currencies with printed banknotes or minted coins. However, they do have a physical form in an unclassical sense coming from the computer to computer and computer to human interactions and the information and processing power of the servers that store and keep track o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Poland
The Narodowy Bank Polski (; the National Bank of Poland), often abbreviated to NBP, is the central bank of Poland, founded in 1945. It controls the issuing of Poland's currency, the Polish złoty. The bank is headquartered in Warsaw, and has branches in 16 major Polish cities. The NBP represents Poland in the European System of Central Banks, an EU organization. The bank doesn't translate its name to English but uses its Polish name ''Narodowy Bank Polski'' in all its English communications. History Although the bank has existed under its current name since 1945, it claims the legacy of two previous central banks, both named Bank of Poland (). The First Bank of Poland was founded in Warsaw in 1828 by Prince Franciszek Ksawery Drucki-Lubecki under the government of the Kingdom of Poland. The Second Bank of Poland, founded in 1924, was the central bank of the Second Polish Republic. During the Second World War the gold reserves of Poland were transferred to Romania, Great Bri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of Ministers Of The Republic Of Poland
The Council of Ministers () is the Central government, central collective body of the Executive (government), executive government of Poland. The cabinet consists of the Prime Minister of Poland, Prime Minister, also known as the President of the Council of Ministers (), the Deputy Prime Minister of Poland, Deputy Prime Minister, who acts as a vice-chairman of the council, and other ministers. The current competences and procedures of the cabinet are described between Articles 146 to 162 of the Constitution of Poland, constitution. Nomination The process of forming the Council of Ministers begins with the nomination of the prime minister by the President of Poland.Article 154, para. 1 The prime minister will then propose the composition of the cabinet, which must then be approved by the president. Despite the president's nominating role in choosing a prime minister and approving the composition of the cabinet, however, the presidency's role is strictly limited, as the president ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Commission
A securities commission, securities regulator or capital market authority is a government department or agency responsible for financial regulation of securities products within a particular country. Its powers and responsibilities vary greatly from country to country, but generally cover the setting of rules as well as enforcing them for financial intermediaries and stock exchanges. History As long as there have been securities there have been regulations. However, in the early days this consisted primarily of self-regulated groups or societies. External government regulation has primarily been driven by financial crises or scandals. As early as the 13th century the king Edward I of England decreed that brokers should be licensed after he was forced to go to local money brokers that give much less favorable terms then his Italian brokers after the start of the Anglo-French war. In 1720 the British Parliament passed the Bubble Act which had specific regulations for securit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
