She was signed by the President of Poland Act dated 12 April 2018 on the rules for obtaining information on the non-criminality of applicants and persons employed in financial sector entities, which lays down rules for obtaining information on the non-criminality of applicants in the financial sector.
For many years, banks and financial institutions have sought the right to verify whether their current or future employees have been punished for certain types of crimes relevant to financial turnover. The Senate finally passed a bill that regulates these issues.
Financial sector under special supervision
The Act lists entities that can now request in the recruitment process or from persons already working a certificate of non-criminality. The provisions of the Act concerning financial sector entities shall also apply to:
- • Authority of the Financial Supervision Commission
- • Office of the Financial Ombudsman;
- • the National Bank of Poland;
- • the Bank Guarantee Fund;
- • Insurance Guarantee Fund.
Other entities that acquire new law include:
- the management company in question under Article 2(10) Act dated 27 May 2004 on investment funds and alternative investment fund management and the branch of the management company concerned under Article 270(1) that law;
- a company established in the territory of a country which is a party to an agreement on the European Economic Area managing an investment fund operating in accordance with the provisions of European Union law governing collective investment in securities in question under Article 276 Act dated 27 May 2004 about investment funds and management of alternative investment funds, and a branch of such a company established in the territory of the Republic of Poland;
- EU managers in question under Article 2(10c) Act dated 27 May 2004 on investment funds and the management of alternative investment funds, and the management branch of the EU concerned under Article 276a(2) that law;
- a legal person established in the territory of a State which is a party to an agreement on the European Economic Area managing an alternative investment fund on the basis of an authorisation issued by the competent authority of its home State, acting in accordance with the provisions of European Union law governing the activities of managers of alternative investment funds in question under Article 276i Act dated 27 May 2004 about investment funds and management of alternative investment funds, and a branch of such a legal person established in the territory of the Republic of Poland;
- representative of the foreign fund in question under Article 256(1f) Act dated 27 May 2004 investment funds and alternative investment fund management;
- alternative investment company in question under Article 8a Act dated 27 May 2004 investment funds and alternative investment fund management;
- the ASI manager in question under Article 8b(2)(2) Act dated 27 May 2004 investment funds and alternative investment fund management;
The provision to the financial sector entity of information on non-criminality within the scope of the Act shall be made in the form of a statement by the person concerned. The entity may also request a certificate from the National Criminal Registry, the applicant being responsible for the costs associated with issuing the certificate.
The entity shall be required to describe in detail the security of the data collected, which may hold no longer than 5 years.
Prevention in the digital age
The problem with checking candidates for a position requiring good opinion is particularly important in connection with the progressive process informationisation.
The higher credibility of Polish business will involve more effective acquisition of foreign partners and a greater degree of provision of advanced services by electronic means.
Obtaining information on whether a candidate has in his history, among others, crimes against documents, property, information protection, reliability of documents, economic turnover, money and securities trading and other crimes listed in criminal law specific laws concerning activities carried out by financial sector entities, will enable companies and institutions to be protected from fraud.
The full content of the bill is available HERE
Author:
Katarzyna Kołbuś
Editor leading RB Magazine. From Over 10 years related to industry press, including the Financial Gazette and portal ipip.com.pl, which is devoted to finance, taxation, law, politics and the economy. She graduated from Polish philology at the UMCS and the language editing of the text at the University of Warsaw.