The National Depository
for Securities (KDPW S.A.)
4 Książęca Street
00-498 Warsaw, Poland
T. +48 22 537 93 43
F. +48 22 627 31 11
Ministry of Finance Financial Market Development Council
Working group on securities lending
In the 4th Quarter of 2006, the Minister of Finance established a working group within the Financial Market Development Council to examine securities lending and short selling, in order to identify obstacles and determine principles to amend and update legislation and invited a representative from KDPW to take part in the work of the group. As part of its work, it was decided to move away from the current short selling model, connected to the amendment to the securities law and to define a legal decree that would govern the terms and conditions of concluding short sale transactions. At present, the working group is defining the principles of the decree regulating short selling for the new business model.
Working group on omnibus securities accounts
The working group has been established to agree on changes to Polish legislation that would allow omnibus accounts to be managed in Poland on behalf of foreign intermediaries and foreign central securities depositories.
