KNF fines State Treasury

The Polish Financial Supervision Authority (KNF) has decided to impose a PLN 20,000 fine on the State Treasury, the watchdog said in an announcement on Tuesday. The KNF said that in August 2010, the State Treasury failed to notify the watchdog on time about a change it its holding of shares in power utility PGE. The notification was 19 days late. The unique legal form of the State Treasury did not have influence on the decision, the KNF also said.