Abstract

Abstract The Polish financial services market is regulated around three fundamental areas: banking services market, capital market and insurance market (including the pension insurance market). Pursuant to new regulations, the structure of the Polish financial market was reorganized. The overall purpose of the supervisory structures and mechanisms was the protection of interests of the clients who entrusted their moneys to financial institutions. For the purposes of transparency and uniformity, the Polish financial market is supervised by one supervisory authority common for banking, insurance and financial sectors. The process of integration of financial supervision, after several years of debate, began in 2002 through the integration of the insurance and pension markets. The specialized supervisory authorities—the State Office for Insurance Supervision and the Office for Supervision over Pension Funds—were abolished and the Insurance and Pension Funds Supervisory Commission (KNUiFE) was created.

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