The Polish government has approved a new bill requiring entities regulated by the Financial Supervision Authority (KNF) to pay fees for permits and registrations upon application rather than after approval.
Shift to Upfront Fee Collection
According to a bill approved by the government on Tuesday, entities supervised by the Financial Supervision Authority (KNF) will be required to pay fees for permits, approvals, and register entries at the time of application submission. Previously, these costs were collected only after the decision-making process was concluded.
Efficiency and Deregulation Goals
The Prime Minister’s Office stated that the change aims to streamline KNF proceedings and simplify administrative tasks. By requiring payment upfront, the government intends to incentivize applicants to submit more thorough documentation, thereby reducing the number of incomplete filings and accelerating decision-making.
New Charges for Market Notifications
The legislation introduces a specific fee for processing notifications regarding the intent to acquire shares in brokerage houses or investment fund companies (TFI). This fee will be capped at the equivalent of 4,500 euros.
Fairer Distribution of Oversight Costs
The government justifies the change as a way to ensure a more equitable distribution of supervision costs. Historically, expenses related to proceedings like share acquisition notifications were socialized across the entire financial market sector. Under the new rules, the specific entities initiating a proceeding will bear the associated costs.
