Warsaw (Puls Biznesu) – The securities and exchange commission KPWiG has started investigation against three investment advisors. “The investigation is to see whether they properly conducted their professional duties. Investment advisors and brokers are professions with licences and their representatives must work according to certain rules. If KPWiG says that the rules were broken, the advisors may be taken their licences away”, Lukasz Dajnowicz, KPWiG spokesman said.
The Commission refused to give the names of the advisors. According to “Puls Biznesu” source, the people under investigation are Jakub Bentke (former PZU employee, today the CEO of Skarbiec Investment Management), Andrzej Blachut (former manager in AIG, today he works abroad) and Mariusz Adamiak, the manager in Pioneer Pekao funds.
KPWiG has filed a suit at the prosecutor’s office accusing several fund managers for ‘cartel’ agreements in transactions with Stomil Sanok shares. New suits are being prepared concerning Polfa Kutno shares. Manipulation and cartels are – apart from using secret data – the most serious crimes in the stock market. Criminals may be fined with PLN 5m (EUR 1.2m) or put to jail for as long as 8 years. In Poland, only one investment advisor (out of 223) has been taken away the right to work in the profession by the securities and exchange commission.
(PLN 1 = EUR 0.242)Poland/Enterprises/Stock exchange/Investment advisors