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Clifford Chance

Clifford Chance


Omnibus accounts in Poland – new solutions available to foreign investors and custodians

30 December 2011

On 16 September 2011, the Act Amending the Act on Trading in Financial Instruments and Other Acts was adopted (the "Amendment Act"). The Amendment Act introduces to Polish
law omnibus accounts ("Omnibus Accounts"), i.e. securities accounts maintained in Poland for foreign custodians or CSDs/ISDs acting for the account of their clients, participants or other
intermediaries within tiered indirect holding systems. Omnibus Accounts will thus be accounts where solely book-entry securities and other financial instruments not belonging to the
holders of such Omnibus Accounts will be registered. The assets held via Omnibus Accounts will be segregated from the account holders' proprietary assets.
The Amendment Act comes into force on 1 January 2012.

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