Poland FSA KNF Fined ING Fund Value

On Oct. 12, PFSA fined ING Slaski for investment fund valuation.

  • FSA imposed a fine of PLN 500,000 on ING Bank Slaski SA, for violation re funds.
  • Under act on investment funds and management of alternative investment funds.

Alleged Violations

  • Violation of act regarding investment fund, during period Jun. 23 to Oct. 3, 2014.
  • Did not ensure that their net asset value was calculated in accordance with laws.
  • Related to allocation of units, despite lack of payment of cash in their acquisition.