Poland's Ministry of Finance published an update on a package of proposals developed with the Office of the Polish Financial Supervision Authority to simplify and harmonise EU-level regulation for the financial services sector and reduce compliance burdens. The Ministry has forwarded the proposals to European Union member states, the European Commission and other institutions via the Financial Services Committee. The proposals focus on reducing burdens on small and medium-sized enterprises, including reporting and organisational requirements, freeing up capital, and removing requirements that increase firms’ operating costs. They also call for simplifying environmental, social and governance reporting to address what the authorities describe as excessive costs currently borne by EU businesses. The document was prepared through cooperation between the Ministry and a dedicated regulatory simplification team established within the Office of the Polish Financial Supervision Authority as an advisory body to the Chair of the Polish Financial Supervision Authority. The proposals are available in Polish and English.

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