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The Warsaw Voice » Business » September 26, 2018
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Central bank head on financial market oversight
September 26, 2018   
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Adam Glapinski
Poland's NBP continues to see transfering the financial market oversight to the central bank as the best way of enhancing that oversight, NBP's chair Adam Glapinski wrote in an opinion to a draft amendment to the financial oversight law.
". . . the basic intentions of the draft bill should be assessed positively; at the same time, in NBP's view, the best way of enhancing the [financial market] oversight would be its appropriate transfer to the central bank, which, among others, would reflect the general European tendencies, and which have already been the subject of justified postulates put forward by NBP," Glapinski wrote.
The draft amendment to the financial oversight law, adopted by the Polish cabinet at the beginning of September, seeks to enhance the market supervision as well as investor protection via, among others, expanding the line-up of the financial market watchdog KNF to include a representative of the cabinet, as well as non-voting representatives from the consumer protection watchdog UOKiK, the Banking Guarantee Fund (BFG) and the nation's special services coordinator.
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