Polish Association of Brokers and Investment Advisers

Polish Association of Brokers and Investment Advisers (PABIA, in Polish: Zwiazek Maklerow i Doradcow - ZMiD) was created in 1991 by the Law on Public Trading in Securities. In January 1998 PABIA was transformed into a real association, free and independent of any governmental body. However, as it associates the majority of brokers and investment advisers, PABIA is officially recognized by government and has its representative in the Securities and Exchange Commission.

Due to the historical process of creating the Association, two professions are represented: securities brokers and investment advisers. There are currently (end of May, 2001) 151 investment advisers in PABIA. In Poland "investment adviser" has two main meanings: "financial analyst" and "portfolio manager".

The main spheres of activities are described very well in the Chapter II of the Statutes of PABIA:

Chapter II
Goals and Tasks of the Polish Association of Brokers and Investment Advisers

§ 4
The goals of the Association are as follows: protection of the Members' interest, shaping customs in trading in securities and rules of professional ethics of brokers and advisers, improvement in Members' professional skills as well as educational activity in the range of capital market operation.
§ 5
The Association is supervising the performance of the profession of broker and adviser by its Members according to law in force, ethical standards and customs in the range of public trading in securities.
§ 6
The Association through its representative in the [Polish] Securities and Exchange Commission, hereinafter referred to as SEC [KPWiG], is to exert an influence upon SEC'S decisions concerning brokers' and advisers' environment, by making proposals of particular legal and organisational solutions.
§ 7
The Association is co-operating with SEC and other participants in capital markets in shaping and applying law and customs within the range of public trading in securities.
§ 8
The Association is co-operating with SEC and other institutions in instructing candidates and in preparing the examinations for candidates for brokers and advisers.
§ 9
Within the educational and information activity the Association tends towards establishing self-learning and professional improvement opportunities for its Members.
§ 10
The Association is carrying out the activity of integrating Members through promoting cultural, recreational and social life.
§ 11
The Association is spreading knowledge about rules for the securities market.
§ 12
The Association intends to improve the professional qualifications of Members, develop Polish capital market and promote it abroad through establishing contacts and co-operation with foreign organisations of brokers and advisers.

Out of several activities, three tasks should be described more specifically:

Establishing PABIA's own examinations for investment advisers, recognized by EFFAS, as a part of ACIIA exams.
Co-operation in preparation of Code of Good Practice, as a way of establishing good Corporate Governance rules.
Co-organization of a contest for the best yearly report (since 1999), as a part of more general task of creating good investor relations in public companies.

CONTACT DETAILS

Polish Association of Brokers and Investment Advisers
Warszawa, Marszalkowska 68/70 m. 30
V pietro, wejscie od ulicy ks. Skorupki.
Tel.: +48 (22) 628 37 43
Fax: +48 (22) 628 37 43
Email: biuro@zmid.org.pl
Web: http://www.pabia.org.pl