Financial supervisor cancels Altus TFI’s license
21:40
The Polish Financial Supervision Authority (KNF) imposed financial and administrative fines on Altus Towarzystwo Funduszy Inwestycyjnych.
The company is to pay a total of PLN 7 million in fines for violations of the provisions of the Act on investment funds and management of alternative investment funds, as well as the ordinance of the Minister of Finance on specific accounting principles of investment funds.
Moreover, the KNF withdrew the Altus’ permits to operate. It made the decision immediately enforceable.
“Altus TFI ceases to be an investment fund company within the meaning of Article 38 (1) of the Act, and therefore it loses its power to represent investment funds and conduct their affairs,” the communiqué said.
