RENTOWNOŚĆ PROWADZENIA DZIAŁALNOŚCI MAKLERSKIEJ W POLSCE
Wydział Prawa i Administracji UAM
RENTABILITY OF PERFORMING A BROKERS’ ACTIVITIES
The article presents a spot look at the matter because of the fact that such activities in Poland are known since about 1990, so it must be necessarily taken from a much longer time context. Moreover we must admit that up to 1996 national stock market stayed still in its primordial stage; future customs have only started to affluence, their structure has just begun to get its shape and the stock exchange itself continued still to stay in a phase of constant developing for purely organizational reasons (techniques of turnover, number of sessions, number of brokers’ offices) and qualitative problems (number of quoted values). The Author presents brokers’ activities in the light of the law in force now in Poland (first of all - of the „Law on public circulation of securities” from August 21, 1997, and he cites next the kinds of activities related to the circulation of securities which necessarily demand to acquire a license. He also cites all changes in this respect after introducing in Poland of the law of the European Union. Next the structure of customs of brokers’ offices and the structure of assets on investments accounts in the period of 1998-2000 are discussed as well as financial returns of brokers’ activities in the same period. In final part of his article the Author mentions future determining features of the effectiveness of brokers’ activities and reconsiders the position of brokers’ houses within the organizational structure of Polish market.
Ruch Prawniczy, Ekonomiczny i Socjologiczny 63, 2001, z. 1-2, s. 153-169