The future of financial supervision in Poland in the context of changes occurring in the EU, as well as the challenges facing the domestic market, were among the main themes discussed at the meeting of the Financial Platform of Employers of Poland held on October 20th. The event was attended by Andrzej Jakubiak, Chairman of KNF (Polish Financial Supervision Authority) and Paweł Tamborski, Chairman of the Warsaw Stock Exchange.
The Financial Platform associates the most important companies and institutions on the Polish financial market. Its meetings are attended by representatives of banks, insurance and consulting companies, as well as associations of financial industry institutions. It is chaired by Iwona Sroka, Vicepresident of Employers of Poland, Chairwoman of KDPW.
The meeting was attended a.o. by Paweł Tamborski, Chairman of the Warsaw Stock Exchange; Jerzy Bańka, Deputy Chairman of the Polish Bank Association and Jarosław Dominiak, Chairman of the Association of Individual Investors. The main topic was financial supervision in Poland. – The model currently in place can be considered optimal – said Andrzej Jakubiak, Chairman of the Polish Financial Supervision Authority. – Personally, I am a proponent of preventive supervision, that is supervision focusing on preventing negative phenomena – he explained.
Andrzej Jakubiak also urged representatives of the sector to be more active in Brussels, as it is there that legal regulations with an impact on the domestic market are established.
Iwona Sroka mentioned the fact that decisions made at the European level are usually favorable for large global financial institutions and do not take the specificity of local markets such as Poland into account. Other topics of discussion included a.o. the future of Polish capital market and activities which contribute to its enlivening. According to Andrzej Jakubiak increasing the debt securities market could have a positive impact in this regard. Currently the value of the debt securities market in Poland is estimated at ca. 500 mln euro, in Sweden at ca. 5.5 bln.
Both the Chairman of the Polish Financial Supervision Authority and the representatives of the financial sector underlined that dialog between both parties is of fundamental importance for the functioning of the market – initiatives such as the Financial platform of Employers of Poland facilitate such cooperation.