Ban on open pension fund advertising (partly) unconstitutional – judgment of the Polish Constitutional Tribunal

On 3 November 2015, the Constitutional Tribunal heard combined applications from the President of Poland and the Ombudsman concerning changes in the operation of the Poland’s pension scheme (case no. K 1/14). In that ruling, which was widely discussed in the media, the unconstitutionality claim was confirmed in relation to one legal provision only, and more specifically, to Art. 197a.1 of the Act of 28 August 1997 on the organisation and operation of pension funds (consolidated text in the Journal of Laws of 2013, item 989, as amended). It is worth remembering that, generally, the ruling does not mean changes to the other open pension fund marketing rules such as those arising from Art. 10 or Art. 197 of the said Act. Besides, the Tribunal expressly confirmed the latter article to be compliant with the Polish Constitution. See also PUBLICATIONS: Nazwy prawnie zastrzeżone w działalności prowadzonej na rynku finansowym


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