Dariusz Adamski, Deputy Chair of the KNF, took part in a discussion panel titled ‘A wake-up call for the capital market’ during the 26th Capital Market Conference of the Chamber of Brokerage Houses (IDM Capital Market Conference 2026).

Dariusz Adamski has said the capital market has two basic functions. Firstly, it enables the financing of projects with a high growth potential, which often entail higher risk so they cannot be financed by banks only. Secondly, it allows the financing of long-term infrastructure projects, which require stable and long-term capital.

The first function requires an ambitious innovation policy. As for the second function, quite a strong focus should be put on pension funds, since they manage assets invested over a long time horizon. Both activities are fundamental not only for the development of the capital market but also – primarily – for launching new economic growth accelerators, and they ultimately determine the increase in society’s wealth in the medium and long term. With such a low level of innovativeness Poland is experiencing right now and without strong pension funds, it will be difficult to create a system capable of financing economic growth.

The Deputy Chair of the KNF has pointed out that compared to those challenges, other obstacles to capital market development will be much easier to remove. He has announced detailed proposals regarding, among other things, client onboarding process, i.e. adjustments in the target market research and adequacy assessment processes, as well as the broadly understood financial consultancy.