polish

legal acts

id: 10019

id: 10019

Financial Market Supervision Act

of 21 July 2006

(Journal of Laws Dz.U. 2022 item 660, as amended)

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Chapter 2. Organization of financial market supervision

Art. 4. 1. The tasks of the Authority include:

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6) creation of the possibility of amicable and conciliatory resolution of disputes between financial market participants, and more specifically disputes arising out of contractual relations between entities subject to supervision by the Authority and recipients of services performed by such entities.

Art. 4a.

5. The Authority is the controller of personal data processed by the arbitration court referred to in Art. 18 (1) and by examination boards referred in the Insurance Distribution Act of 15 December 2017, the Financial Instruments Trading Act of 29 July 2005, the Insurance and Reinsurance Activity Act, and the Mortgage Loan and Supervision of Mortgage Loan Brokers and Agents Act of 23 March 2017.

Art. 18

1. An arbitration court shall be established at the Financial Supervision Authority in order to resolve disputes between financial market participants, in particular disputes arising out of contractual relationships between entities that are subject to the Authority’s supervision and recipients of services provided by such entities.

1a. An arbitration center and a mediation center shall operate within the arbitration court.

2. The provisions of the Polish Civil Procedure Code - Act of 17 November 1964 shall be applied in arbitration proceedings in cases considered in the arbitration center and the mediation center.

2a. The arbitration court can also conduct out-of-court consumer dispute resolution proceedings in accordance with the rules and procedure stipulated in the Out-of-Court Resolution of Consumer Disputes Act of 23 September 2016 (Journal of Laws Dz. U. item 1283) and in the rules of the arbitration court. The arbitration court is a body authorized to conduct out-of-court consumer dispute resolution proceedings within the meaning of this Act.

3. The Authority shall establish the rules of the arbitration court by resolution.

4. The Authority shall submit the rules of the arbitration court to the European Securities and Markets Authority.

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