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Dr hab. Paweł Wajda, prof. UW
ORCID: 0000-0003-4423-8881
A professor at the Faculty of Law and Administration of the University of Warsaw, an advocate, as an of counsel in the Baker & McKenzie law firm he is responsible for the area of the so-called regulatory.
DOI: 10.33226/0137-5490.2020.5.2
JEL: G28, K23

This article is devoted to the analysis of public law aspects of transactions of acquisition of significant
stakes in investment funds managers. The article describes the procedure that is being used by the Polish
Financial Supervision Authority to determine whether the purchaser of a significant portfolio of shares gives
a guarantee of proper, safe and stable operation of investment fund manager, as well as the issue by the
Polish Financial Supervision Authority of the decision expressing or not expressing (objection) consent to the
acquisition of a significant portfolio of shares of an investment fund manager. Another element of
consideration is the presentation of mechanisms to ensure compliance with the obligations related to the
acquisition of significant portfolio of shares, as well as the assessment of the institution itself as regards the
supervision of the acquisition of significant blocks of shares of investment fund managers.

Keywords: investment fund manager; significant portfolio of shares; supervision; Financial Supervision Authority; objection; notification; consent
DOI: 10.33226/0137-5490.2020.4.1
JEL: G28, K23

This article is devoted to the legal analysis of transactions involving the acquisition of significant stakes in investment funds managers that are managing the investment funds. The authors focused on the most important issues from the point of view of the practice of conducting such transactions. The article presents, in particular, the specificity of such transactions, the ratio why such transactions are the subject of supervisions conducted by the Polish Financial Supervision Authority, as well as detailed description of the institution of notification of the acquisition of a significant stake in an investment fund managers.

Keywords: investment fund manager; significant portfolio of shares; supervision; Financial Supervision Authority; objection; notification; consent

A professor at the Faculty of Law and Administration of the University of Warsaw, an advocate, as an of counsel in the Baker & McKenzie law firm he is responsible for the area of the so-called regulatory.