Workshop on Corporate GovernanceChisinau, 14-15 May 2012
Corporate Governance in Poland
Why? How?
Joanna BanachLegal Department
Polish Financial Supervision Authority
Legal environment
• Companies’ code• Act on offering financial instruments• Act on trading in financial instruments
X
Local requirements
3 unique areas
• From Corporate Governance code to hard law
• Additional points added to Polish Good Practices
• Role of the regulator (PFSA)
1. Independent directors
Better protection of minority shareholders
CG Code -> Legal Act
2a. Rumors
• Management of a company should express its view when untrue or partly untrue information is disseminated
2a. Artistic expression
• Information on extracurricular activities
3. Role of the regulator
• Meetings with potential issuers, questions on:• Prospectus• Corporate governance code• Privileges
Thank you!