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KNF Regulatory Entity

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In Poland, the Polish Financial Supervision Authority is in charge of the supervision of the financial market. It supervises banks, capital markets, insurance markets, and pension markets.

Furthermore, it is also responsible for the supplementary supervision of financial conglomerates. It also supervises electronic money institutions, payment institutions, and payment service bureaus. Finally, it also regulates cooperative savings and credit unions.


Following the financial market supervision act of July 21 2006, the KNF came into effect on September 19, 2006.

As a result of the Act, the new regulated body took over the responsibilities and regulatory powers of the Insurance and pension funds supervisory commission. In addition, the Securities and Exchange Commission of Poland is also involved.

Following the second phase of the merger of financial supervision in Poland, the KNF merged with the commission for banking supervision to form the General Inspection of Banking Supervision.

As an independent financial regulator and single point of contact for all segments of the Polish financial market, the KNF serves as a watchdog.

Due to its monitoring and response to bank liquidity provisions during the global financial crisis, it remained relatively healthy throughout the slowdown in economic activity.


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KNF mission

The KNF’s mission is to ensure the smooth and orderly development of the financial market.

KNF vision

The vision of KNF is to make sure that all participants in the financial market are safe. Therefore, their main goal is to act proactively. Furthermore, KNF manages knowledge and information using modern technology.

Therefore, financial market stakeholders and supervised entities highly trust KNF.

KNF values

KNF have the following values:

Responsibility and Accountability

KNF takes responsibility for every action it takes and for everything it does for its clients. Furthermore, it performs its duties with efficiency and professionalism.


KNF treats and behaves with respect toward others. In addition, it engages in dialogue and listens to arguments.


KNF bases its decisions on facts and reliable information. Their work is also characterised by objectivity and independence.


KNF pays close attention to innovations and trends in the financial markets.


KNF shows an active approach and a willingness to act. As a result, KNF oversees it and handles it with full commitment in every case.


The KNF remains loyal to its superiors, colleagues, and the Republic of Poland or its authorities to fulfil its duties and responsibilities.


The KNF performs its tasks with knowledge and experience. In addition, it continuously improves the quality of its products and services.

Tasks and Objectives

The KNF Board supervises the banking, capital, insurance, and pension sectors and the payment institutions and payment service office. Additionally, the company supervises electronic money institutions and credit unions.

The KNF Board also performs several other roles

  • Supporting the best possible functioning of the financial market.
  • Promoting the development and competitiveness of the financial markets.
  • Educating and informing the public about the financial market.
  • Participation in the development of draft legal acts about financial market supervision.
  • Providing several options for the settlement of disputes between participants of the financial market amicably and conciliatorily. The KNF provides settlements, particularly those relating to contractual relationships between KNF-supervised entities and consumers of those entities’ services.

The KNF board is also responsible for many other statutory tasks.

To ensure the smooth operation, stability, security, and transparency of the financial market, market supervision is necessary. In addition, it is important to protect the interests of market participants.

Legal Framework

Following the adoption of the Act on Financial Market Supervision on July 21, 2006 (Dz. U. of 2006, No. 157, item 1119, as amended), the Polish Financial Supervision Authority was established on September 19, 2006.

This Act abolished the Insurance and Pension Fund Supervision Commission and the Polish Securities and Exchange Commission. On January 1, 2008, the Philippine Financial Services Authority took over the Commission for Banking Supervision’s duties.

International Relations

The KNF regulatory entity has the following international relations:

  • Acquisition and expansion of financial sector holdings.
  • The European Union’s financial supervision
  • Supervision of auditors
  • Consultation with the public
  • Capital requirements for investment and credit institutions (CRD IV/CRR)
  • Settlement of financial instruments; transparency after trading
  • The European Union funds the project
  • The credit agreement for residential properties
  • Rating agencies are supervised
  • The financial sector’s crisis management
  • A scheme for guaranteeing deposits
  • Payment services including e-money
  • European financial services supervision architecture
  • Insider trading and market abuse (MAD)
  • Global financial reporting and accounting standards
  • Investment services and financial instruments (MiFID)
  • Life Insurance
  • Protecting minority shareholders and ensuring corporate governance
  • Retail investment products packaged for retail investors
  • Pension system
  • Counter-terrorism financing and anti-money laundering
  • Personal insurance, property insurance, and life insurance

Services of KNF regulation entity for Forex

The Forex market has become a very popular activity in the Polish Capital Market. These services are provided by domestic investment firms (brokerage houses or brokerage offices within banks) and licensed foreign firms that usually operate over the internet.

Promotion and marketing activities for engaging clients in Forex transactions are under continuous surveillance. Investors’ increased interest in Forex markets may indicate their desire to earn a faster and larger profit than on regulated markets by utilising new methods of investing their capital.

On the other hand, Forex companies use a variety of methods to encourage potential clients to invest in the product. Many of these firms are acting illegally.

Potential clients should not base their decision on potential profits or a promise to assist them with executing trades on the Forex market. Investors who decide to invest in the Forex market should carefully verify who their intermediary is. Investors can find information about the points mentioned above on the KNF website.

KNF Fintech

Companies that use modern information technologies in the financial sector (known as FinTech) are growing rapidly in Poland. As a result, financial market institutions are increasingly using innovative practices to gain a competitive advantage.

Furthermore, in Poland, consumers welcome digitalisation and are eager to utilise innovative financial services offered through remote electronic channels, mainly the internet and mobile phones.

Bottom line  

In Poland, KNF, or the Polish Financial Supervisory Authority, is the financial regulatory authority. As a result, many of Poland’s financial institutions are subject to different legal and regulatory requirements.

Following its regulations, the KNF has issued Polish Cloud Guidelines. The guidelines apply to all banks, insurance companies, electronic money institutions, and other organisations under its supervision.

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