Polish PE fund Platinum Prestige Capital fined by financial supervision authority

The Polish Financial Supervision Authority (KNF) fined private equity fund, Platinum Prestige Capital, to the tune of PLN 5.6 mln for failing to announce changes in the shareholders’ structure of an affiliated fund listed on the SME NewConnect bourse, the local media reported, on Oct. 30.

“Platinum Prestige  Capital must pay PLN 5.63 mln as it broke the law on announcements regarding changes in shareholding of PSW Capital 31 times, a company listed on NewConnect,” Polish business daily, Puls Biznesu, reported.

PSW Capital is the mother company to majority shareholder DI Platinum Capital, which in turn manages five PE funds on the Polish market, including Platinum Prestige Capital. The group is run by Polish businessman Piotr Krawczyk.

The KNF has imposed fines worth more than PLN 28 mln since the start of 2013, up from PLN 3.3 mln in the previous year.