Silesian Journal of Legal Studies, Vol. 8 (2016), s. 11-18
The core legal regulation of the capital market is based on four acts of law, namely:
1) the Act on Capital Market Supervision1,
2) the Act on Trading in Financial Instruments2,
3) the Act on Public Offerings, Conditions Governing the Introduction of Financial
Instruments to Organised Trading, and Public Companies3,
4) the Act on Financial Market Supervision4.
The Act on Capital Market Supervision primarily regulates audit proceedings
and preliminary investigations, along with certain supervisory powers of the Polish
Financial Supervision Authority (the “FSA” or the “Authority”). It also includes certain
regulations specifying the purpose and tasks of the Authority, the scope of supervision
and the division regarding the exchange of information between the Authority and the
supervisory bodies operating in other countries.