Financial Market Changes: Stability, Instant Payments, and Client Protection
The Act implements EU regulations regarding the financial market, including the directive on recovery and resolution and the regulation on instant credit transfers in euro. It introduces changes regarding settlement finality in payment systems and new reporting obligations for payment service providers. The amendment also adjusts bankruptcy regulations regarding the order of satisfying claims to social security authorities.
Key points
Introduction of the rule that KNF remedial actions towards banks and brokerage houses do not constitute grounds for realizing financial collateral or declaring bankruptcy, provided obligations are met.
Implementation of EU regulations regarding instant credit transfers in euro, including reporting obligations for payment service providers to the KNF.
Imposition of an obligation on payment institutions and electronic money institutions to have liquidation plans and descriptions of user fund protection measures when participating in payment systems.
Expansion of KNF powers to impose financial penalties for violations of the EU regulation on euro credit transfers, including penalties for management.
Amendment to Bankruptcy Law regarding the satisfaction of obligations to social security authorities (e.g., ZUS) in the event of bank bankruptcy.
95%
VOTING RESULTS
2026-01-23
For
413
Against
1
Abstain
19
Status:
Enacted
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