Crackdown on insider trading, easing of takeover regulations

Regulators are hoping that the amendments to the Public Securities Law will tighten the powers of the Securities and Stock Exchange Commission (KPWiG) and so curb insider trading on the Warsaw Stock Exchange by allowing it to impose fines of up to zł. 1 million for the use of confidential information for personal gain. At the same time, the amendments would also relax takeover regulations, making it easier to buy out publicly traded shell companies. Also domestic brokerage houses would be able to set up their own electronic commerce networks (ECN) trading platforms for equities and treasuries. And to some extent, they will be allowed to conduct their business through agents in their relations with clients. (Parkiet, p. 1) J.K.