Advisor suspended

The Polish Securities and Exchange Commission has suspended for a period of three months the licence granted to Mariusz Adamiak, an investment advisor and broker with Pioneer Pekao Investment Management (PPIM), due to violation of the rules applicable to his professional activities in an investment firm.

Leszek Koziorowski of GESSEL, which represents Adamiak, stressed in an interview with Rzeczpospolita that his client has violated neither the law nor internal regulations in force at PPIM. The PPIM’s decision – rather than an appeal – is subject to the right to file a request for reconsideration. Koziorowski said that such a letter will be submitted after receiving the written decision of the SEC along with the reasons. – I completely disagree with the ruling,” Mariusz Adamiak told us. Until the complaint is resolved, he will be able to perform his duties. He also has the option of appealing the SEC’s decision to an administrative court (…)