During the opening of the European Financial Congress in Sopot, Jacek Jastrzębski, Chair of the KNF, spoke about the need to develop a regulatory strategy for the financial market, understood not as a set of single regulations but as a set of overarching objectives that the state wants to achieve through regulations and of threats it wants to prevent. 

He has emphasised that regulatory strategy is a long-term operational logic of institutions responsible for that market and the ability to ask fundamental questions and to answer them. Its three main objectives include building resilience, profitability and potential to support economic development, while resilience of the financial system against growing uncertainty is gaining importance. The effectiveness of strategy so defined also depends on the institutional capital and the limitation of legal uncertainty, the antithesis of which is legal predictability and predictability of law’s application.

You can read the full text of the speech delivered by the Chair of the KNF here.