capital markets | In Principle

Recent amendments to the Transparency for Listed Companies Directive should improve the system for release of information by listed companies.

A management board member, with access to confidential company information, is subject to a number of restrictions on buying or selling shares of the company, on his own or another’s account.

Poland has yet to adopt regulations implementing AIFMD, but that does not mean that nothing will change on the Polish market for private equity and closed investment funds in the next few months, before the new regulations are enacted here.

The recommendations published recently by the Financial Stability Board may result in more rigorous regulation of securitisation transactions.

A number of changes in two key laws governing the capital market—the Investment Funds Act and the Public Offerings Act—will go into effect in 2013.

When reports become public of plans for a hostile takeover of an exchange-listed company, the question arises whether the company may take any measures to oppose the takeover.

A bill to amend the Act on Trading in Financial Instruments was adopted on 28 June 2012

An interview with Danuta Pajewska, the partner in charge of the Capital Markets practice and the Financial Institutions practice at Wardyński & Partners, about the advantages for a company when its shares are admitted to trading on more than one stock exc

When a company is listed on the stock exchange, it should appoint an audit committee within the supervisory board. The committee must include an independent director with audit or accounting competence.

Although foreign exchange permits are rarely required in Poland anymore, companies must still remember about certain central bank requirements in this area.

Under amendments to the WSE Code of Best Practice, companies will have to publish their sponsorship policies and comment on false reports about the company.

At a general meeting of a listed company, shareholders have a right to ask questions about the company’s affairs, but management is not required—or even allowed—to answer some of them.