Kraś Ireneusz, Change in the political position of the Polish Financial Supervision Authority. [Zmiana pozycji ustrojowej Komisji Nadzoru Finansowego]

The Polish Financial Supervision Authority (Polish: KNF, English: PFSA, both abbreviations are used hereinafter) is responsible for carrying out the micro-prudential supervision over the financial system in Poland. It was set up in 2006, but it has been fully carrying out its tasks since 2008. Once it was established it replaced the already operating sector supervision system with an integrated one. This has fundamentally changed the model of supervision over the Polish financial service system in which the PFSA plays the key role. The effectiveness of the supervision requires continuous strengthening of the position of the supervising institution. This results in introducing new solutions in the functioning of the supervising institutions. These are aimed at improving supervising process. Such changes have been also introduced by the Polish legislator. Interesting solutions related to the...