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Legislative overview | Banking today and tomorrow

8 September 2022 | Banking today and tomorrow, Knowledge, News

Amendment to the Act on Liability of Collective Entities for Prohibited Acts Subject to Penalty (corporate criminal liability)

The key change is a new definition of collective entity limiting the scope of such entities. According to the bill, the Act will be applicable to:

  • Collective entities employing at least 500 persons in at least one of the last two financial years, or
  • Entities with an annual net turnover from the sale of goods, products and services and from financial operations exceeding €100 million.

The final version of the bill is expected to be presented in Q3 2022.

Amendment of the legislation on mortgage agreements

The Senate amendments to the amendment on mortgages and the supervision of mortgage brokers and agents.

The amendments extend applicability of the law to cover loan agreements – in the case of a loan secured by a mortgage, the mortgage agreement may specify the additional cost of the loan to be borne by the consumer until the mortgage is registered.

The European Banking Authority against terrorist financing

The European Banking Authority has published guidelines setting out the roles and responsibilities of the AML/CFT compliance officer and of the management body of credit or financial institutions.

Financial media overview

  • A bill to amend the Act on Competition and Consumer Protection, according to which, among other things, the powers of the President of the Office of Competition and Consumer Protection (UOKiK) are extended. The bill is currently being assessed.
  • Draft ordinance of the Council of Ministers to change the list of procedures and services in which an electronic document and certificate can be used to establish the identity of a Ukrainian citizen. The ordinance is scheduled for adoption in Q3 2022.

Sectoral AML Service Centre

The National Clearing House (KIR) and the Polish Bank Association (ZBP) are launching a solution to streamline the detection of illegal transactions.

The Sectoral Service Centre has been tasked to provide structural and organisational assistance to banks in fulfilling their obligations under money laundering regulations.

Inflation in the eurozone

Inflation in the eurozone reached 9.1% in August and turned out to be higher than expected. This may result in the European Central Bank hiking its key interest rate by up to 75 bps at its meeting of 8 September.

Rising inflation in the eurozone is also the reason why the European Central Bank has introduced a new asset purchase programme – the Transmission Protection Instrument (TPI), which is designed to limit yield spreads between member states’ bonds.

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Workplace harassment and discrimination: new regulations for employers

The Sejm has passed an amendment to the Labour Code concerning workplace harassment and discrimination. The changes introduce a broader definition of the concept itself, new forms of harassment, clearer definitions of what constitutes, for example, sexual harassment, and new rules governing the handling of such cases, including the reversal of the burden of proof, higher compensation awards, and the jurisdiction of district courts. The provisions will enter into force on 5 November 2026. We examine what will change and how much time remains to adapt company documents, policies, and the organisation as a whole.

ESG Roadmap. How to identify which regulations apply to your business and build a strategy

As we know, ESG in business is a roadmap made up of numerous obligations arising from different regulatory frameworks. That is why the right question is not “how do I meet all the requirements?” but rather “which of them apply to my business?”. This is a crucial distinction. We explain how to correctly diagnose your regulatory profile and build an effective ESG strategy – one that actually works and gives you a competitive edge.

Announcement of Income Tax Reform

On 19 August, during a press conference, the Prime Minister announced a package of tax changes planned for next year. According to the announcement, the reform is intended, on the one hand, to ease the burden on the middle class and, on the other, to shift a greater fiscal burden onto the wealthiest individuals and the largest companies. We take a look at the proposals included in the announced package and explain what they might mean for taxpayers.

Family foundations and the tax authorities: what draft bill UD447 proposes and why this is not the end of the troubles

Family foundations were intended to provide entrepreneurs with a stable framework for intergenerational wealth management. Yet not even four years have passed since the first such foundations were established, and the rules governing their taxation are set to be changed once again. This is because the scale of interest and the practical problems uncovered have overwhelmed the drafters of the legislation, as best illustrated by the figures – 927 applications for individual tax rulings and 77 opinions issued from the Head of the National Revenue Administration. This does not, however, mean that family foundations are being used on a massive scale for aggressive tax optimisation. A significant proportion of the queries concerned simply how to correctly apply the complex regulations.

Banking today and tomorrow | Financial sector overview | August 2026

Poland’s banking sector has reacted with concern to recent remarks by Katarzyna Pełczyńska-Nałęcz, the Minister of Development Funds and Regional Policy, who announced plans to put forward a proposal for a further increase in CIT levied on banks. The Minister’s reasoning, however, rests on a flawed conflation of the sector’s liquidity with its profitability, revealing a fundamental misunderstanding of how the banking sector operates and how its financial health is assessed. What is more, it feeds into a worrying trend of replacing substantive debate with simplistic, populist messaging which may be politically appealing but is not underpinned by either facts or economic analysis.

NIS2 and the National Cybersecurity System Act in transport: what you need to do before October 2026

The amended Act on the National Cybersecurity System (UKSC) has been in force since 3 April 2026. For transport sector undertakings, this means a specific compliance timeline, including an obligation to register with the National Cybersecurity System (KSC) registry by 3 October 2026. Failure to do so may result in substantial financial penalties, coupled with the risk of personal liability for senior management. Not every undertaking, however, automatically falls within the scope of the new regime. Read on to find out whether your organisation is affected and what you need to do before the deadline for preparation.

Family foundations: the government has done the maths and presented the bill

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What the new swiss franc act means for banks

We now have a new Act on Special Measures for the Adjudication of Cases Concerning Loan Agreements Denominated in or Indexed to the Swiss Franc. The provisions come into force 14 days after publication. So now is a good time to look at what lies ahead and what banks should be doing today.