Poland’s first AIC licence issued by PFSA

 

We are pleased to announce that Dubiński Jeleński Masiarz i Wspólnicy sp.k. has successfully conducted the first in Poland proceedings before the Polish Financial Supervision Authority for issuing a license to perform the activity of the Alternative Investment Company Manager (AICM).

The legal provisions introducing the institution of an Alternative Investment Company (AIC) and AICM into the Polish legal system came into force in June 2016.  Last week the entity supported by our law firm received the first license of AICM in Poland. The pioneering nature of the proceedings before the Polish Financial Supervision Authority was related to the necessity of acting on the basis of legal regulations not applied by any other entity so far.

The decision of the Polish Financial Supervision Authority issued in this proceedings is the first license of this kind in Poland. Other AICM operating on the domestic market due to the low value of the assets under management (below EUR 100 000 000) benefit from a statutory exemption and operate under a simplified supervisory regime – without a licence but on the basis of an entry in the register of AICM kept by the Polish Financial Supervision Authority.

Within our Capital Markets Team, we advise our Clients in all proceedings before the Polish Financial Supervision Authority, including those concerning alternative investment companies and the management of alternative investment companies