Incoming changes for the non-bank consumer lenders in Poland

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Based on the recent changes to the Consumer Credit Act, the non-bank lenders (NBLs) in Poland will not be able to finance their lending activity by issuing bonds (obligacje).

The Polish Financial Supervision Authority KNF will also start supervising NBLs.

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Crowdfunding activities in Poland require a license and are supervised by the Polish Financial Supervision Authority (KNF) #PolishLegalTips

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Crowdfunding is regulated in Poland based on the Regulation on European crowdfunding service providers for business of 2020 (ECSP), and the local Act on crowdfunding for economic ventures and assistance to borrowers of 2022.

New crowdfunding providers require a license, and the market is supervised by the Polish Financial Supervision Authority (KNF).

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Management board’s resolutions in Polish LLCs to be minuted in a specific way #PolishLegalTips

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Based on recent amendments of the Polish Commercial Companies Code (KSH) resolutions of the management board (MB) of a limited liability company must be minuted in a specific way so the minutes include the agenda, the names and surnames of the members of the MB present, and the number of votes cast for relevant resolutions.

A dissenting opinion submitted by a member of the MB shall also be marked, along with its motivation, if any.

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