Financial Supervisory Authority Raises the Alarm About Nova Giełda

Financial Supervisory Authority put Nova Giełda on the public warnings list.  The reason for this was that the company of Mariusz Patrowicz carried out brokerage activity without a licence (suspicion of breaching Article 178 of the Act on Trade).

A public warnings list managed by the Financial Supervisory Authority is a catalogue of entities submitted by the Financial Supervisory Authority together with notification about suspicion of committing an offence. The list was created to inform society about business entities that should be cautiously approached.

Nova Giełda is owned by Mariusz Patrowicz, who is known for his “financial engineering”, which would often put him under the scrutiny of the Authority. Controversial investor’s company is to be, by design, a competition for the Warsaw Stock Exchange. Apart from brokerage activity carried out without a licence, the Financial Supervisory Authority submitted notification about suspicion of committing an offence by conducting a public offering without a prospectus or information statement required by the Financial Supervisory Authority.

Another company put on the public warnings list in 2009 is Amber Gold – In December 2009 FSA warned that Amber Gold did not have a licence to provide banking services. In August 2012, a decision was made to liquidate the company. Even though Amber Gold was put on the public warnings list in 2009, a parliamentary inquiry committee was alarmed this did not persuade the Prosecutor’s Office to take up the case, which in effect led to nonfeasance and huge financial losses for many people.

As Damian Patrowicz, co-owner of Nova Giełda, comments, „It is difficult to refer to the presented claims” and Nova Giełda Inwestycje Sp. z o.o. “did not carry out a public offering concerning any securities” and “never carried out brokerage activity without a licence.”