Natura prawna i skutki rekomendacji Komisji Nadzoru Finansowego kierowanych do zakładów ubezpieczeń i zakładów reasekuracji
the legal nature and implications of recommendations of the Polish Financial Supervision Authority for insurance and reinsurance companies

Summary/Abstract: The paper reviews the legal nature and features of a new supervisory instrument for the insurance market, namely the power of the Polish Financial Supervision Authority to issue recommendations for insurance and reinsurance companies. The authors focused specifically on explaining the place of these recommendations within the system of sources of law. They also noted that the recommenda- tions, as enactments of the soft-law, could not serve as a basis for any authoritative supervisory deci- sions issued in response to a failure to comply with their provisions. Further, the paper examines how the issuing of the PFSA’s recommendations affected the proper and secure operation of the domestic insurance market.

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