Poland's Ministry of Finance has reported cabinet approval of a bill to reduce the cost and administrative burden of raising capital, particularly for small and medium enterprises (SMEs). The draft would simplify access to public markets and introduce rules for investment research and supervision of environmental, social and governance (ESG) ratings providers. The bill would implement measures under the European Union's Listing Act package, simplifying public offering and prospectus requirements. It would also align rules for SME markets with new EU regulations and the development of alternative trading systems. National requirements that exceed EU law and can impose additional costs on financial market participants would be reduced. New investment research rules would cover research sponsored by issuers, with requirements for transparency and appropriate labeling. ESG ratings providers would come under the supervision of the Polish Financial Supervision Authority. The provisions are planned to take effect in the first quarter of 2027.
Poland's Ministry of Finance reports cabinet approval of bill to simplify capital raising and supervise ESG ratings providers
Poland's Ministry of Finance has outlined a bill approved by the cabinet to simplify public offerings and prospectuses and reduce capital raising burdens, particularly for small and medium enterprises. The draft would also establish rules for research sponsored by issuers and place environmental, social and governance ratings providers under the Polish Financial Supervision Authority. The provisions are planned to take effect in the first quarter of 2027.