Interwencja produktowa Komisji Nadzoru Finansowego z art. 17 ust. 1 Rozporządzenia 1286/2014 – wybrane aspekty proceduralnoprawne
Product intervention of the Polish Financial Supervision Authority under article 17 para 1 of Regulation 1286/2014 – selected procedural and legal aspects

Summary/Abstract: The Polish Financial Supervision Authority as the supervisory authority over the insurance market has been empowered to apply a supervisory measure in the form of product intervention. It should be pointed out that due to the limited regulation of the product intervention decision in Article 17 of the PRIIPs Regulation and in Article 366 of the Act of 11 September 2015 on insurance and reinsurance activity, especially with regard to the requirements it should meet, the question arises whether the competent insurance market supervisory authority is authorised not only to issue or withdraw a product intervention, but also may amend such a decision. In this context, it is particularly interesting whether the insurance market supervisory authority has the author- ity to change the suspensive period specified in the content of the decision of the Polish Financial Supervision Authority dated 15 July 2021 introducing prohibitions on marketing, distribution and sale of insurance investment products - life insurance contracts, if they are linked to an insurance capital fund.

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