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The Information Disclosure Policy

KDPW Disclosure Policy

I Purpose of the disclosure policy
The purpose of the Policy is to set out standards of effective disclosure of information, mechanisms of communication with the shareholders and participants of Krajowy Depozyt Papierów Wartościowych S.A. (KDPW, Central Securities Depository of Poland) and organisations which represent the participants, as well as with other participants of the financial market, and to achieve sufficient transparency of the business and functioning of KDPW by publishing information required under Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2015 on improving securities settlement in the European Union and on central securities depositories (CSDR).

II General principles
1. KDPW follows a transparent disclosure policy by means of both traditional methods and state-of-the-art technologies and tools of communication ensuring speed and security.
2. In the pursuit of the purpose of the Policy, KDPW discloses information on the organisation of the Company and provided services, in particular information on the prices of offered services, including information on discounts and rebates, in a form comparable to the prices of other service providers.
3. KDPW makes best efforts to ensure highest possible quality of the content, communication and presentation of information.
4. Information published by KDPW does not include personal data within the meaning of personal data protection regulations.

III Disclosure policy recipients
The Policy recipients include without limitation:
1) KDPW shareholders,
2) participants, i.e., entities which are participants or members of the depository system, the compensation scheme or the trade repository operated by KDPW, as well as pension fund companies and open-ended pension funds,
3) organisations which represent participants, 4) other participants of the financial market and individuals interested in the business of KDPW.

IV Methods and time limits of the publication of documents and information and provision of replies to shareholders and participants
1. Participants are informed about the content of rules issued by KDPW and any amendment thereof and the content of other regulations issued under the rules concerning the rights and obligations of participants in accordance with the provisions of such regulations. Such regulations are published on the KDPW website.
2. Information is provided to the shareholders in accordance with the Code of Commercial Companies. All KDPW shareholders are offered the same scope and terms of access to information.
3. KDPW replies to questions concerning the business of KDPW without undue delay, taking into account the applicable legislation, in particular provisions which limit access to specific types of information.

V Communication tools
1. KDPW communicates by means of tools aligned with the needs and expectations of specific groups of recipients of information. The tools include without limitation the following:
1) letters,
2) communiques,
3) meetings with participants,
4) information materials including: presentations, information brochures, videos,
5) public statements and positions of the Management Board,
6) presentations and contributions at domestic and international industry events,
7) the website (,
8) contact forms and e-mail addresses of employees, available on the website and addressed to specific groups of interested parties.
2. The information and documents required under CSDR are published by KDPW on the website in dedicated thematic sections.
3. The content of documents and information published in the KDPW online service is developed and published with due diligence and immediately updated when amended.
4. The English language version of documents and information available in the online service is published in the service as soon as possible after the publication of the documents or information in the Polish language.

VI Approval and publication of the Policy
1. The Policy is approved by the KDPW Management Board.
2. The Policy is regularly reviewed in order to ensure its adequacy and compliance with the generally applicable legislation, other regulations applicable to KDPW, as well as internal legislation.
3. The Policy is published on the KDPW website.
Last modified:15-01-2018 Go up