WPŁYW NOWELIZACJI DYREKTYWY UNII EUROPEJSKIEJ O INSTYTUCJACH WSPOLNEGO INWESTOWANIA NA POLSKIE REGULACJE DOTYCZĄCE FUNDUSZY INWESTYCYJNYCH OTWARTYCH
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Date
2003
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Wydział Prawa i Administracji UAM
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INFLUENCE OF AMENDMENT OF EU DIRECTIVE ON COLLECTIVE MANAGEMENT INSTITUTIONS ON POLISH REGULATIONS ON OPEN INVESTMENT FUNDS
Abstract
The article presents the modifications introduced in January 2002 to the Directive on the
coordination of laws, regulations and administrative provisions related to undertakings for collective
investment in transferable securities, which is crucial for the principle of free flow of
capital in reference with collective investment institutions.
Against the background of the Directive provisions the author presents the economic and
legal reasons for the amendment, discussing the amendments in reference to the authorization
of collective investment institutions, the principles of starting activity by companies
managing such institutions and the obligation of such institutions to keep the investors informed.
The author pays special heed to the potential consequences of the amendment for the
Polish regulations on open investment funds included in the Act of 28 August 1997 on
investment funds (full text in legislative journal Dz.U. 2002, No49, poz.448 with further
amendments).
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 65, 2003, z. 1, s. 129-145