Polish Financial Supervision (KNF)

The Polish Financial Supervision Authority exercises supervision of the financial market, including banking supervision, supervision of the capital market, supervision of the insurance market, supervision of the pension market, supplementary supervision of financial conglomerates, supervision of electronic money institutions, payment institutions and payment service bureaus, as well as supervision of cooperative savings and credit unions.

Moreover, the tasks of the KNF shall include the following: 
a. undertaking measures aimed at ensuring regular operation of the financial market; 
b. undertaking measures aimed at development of financial market and its competitiveness; 
c. undertaking educational and information measures related to financial market operation; 
d. participation in the drafting of legal acts related to financial market supervision; 
e. creation the opportunities for amicable and conciliatory settlement of disputes which may arise between financial market actors, in particular disputes resulting from contractual relations between entities covered by PFSA supervision and recipients of services provided by those entities; 
f. carrying out other activities provided for by acts of law.

The aim of the supervision of the financial market is to ensure the proper functioning of this market, its stability, security and transparency, confidence in the financial market, and to ensure that the interests of the market’s participants are protected.

The President of the Council of Ministers exercises supervision of operations of the Authority.