The insurance and funds market in Poland has recently been facing many challenges: changes in legislation and stronger enforcement of laws combating unfair trade practices. In the meantime, new products have been launched, namely new endowments and structured policies that have proved to be very successful abroad.

As the market changes some financial capital groups are deciding to enter the Polish market and some are deciding to leave. This involves obtaining regulatory approval from the Polish Financial Supervision Authority. Some companies decide to open a branch in Poland or provide cross-border services on the basis of a single European passport – this also requires regulatory approval.

The Polish market is becoming more and more competitive. New products as well as new distribution channels (such as call centres and the Internet) provide many new opportunities, but also require a more business-orientated and open-minded approach from product managers and lawyers.

All the above issues require highly specialised legal advice. Our financial services team comprises experienced lawyers, who have a long history of providing advice on financial services law issues to major insurance companies, banks, funds managers and intermediaries. It is most important that we know the Polish market and the requirements of the regulators, and that we are able to provide our clients with legal solutions corresponding to or surpassing market standards.

We regularly provide advice to financial services sector companies in different jurisdictions across Europe. This often includes co-ordinating legal advice in several countries. Our answer is to provide clients with all the information they need in one document, even if a variety of legal systems are involved.