Starting from 1 January 2012, Polish law recognizes the concept of omnibus accounts for securities, which were not allowed until now. Apart from individual securities accounts, brokers may also maintain omnibus accounts in which securities for multiple investors may be kept. Omnibus accounts may be opened for a limited group of investors, such as depositories, clearing houses, banks, investment firms, and their equivalents from other jurisdictions, making it possible for Polish investment firms and custodians to offer multi-level recordkeeping of securities. Appropriate changes were also made to the Polish personal and corporate income tax provisions.
The aim of the relevant changes is to make the Polish market more accessible for investors and to reduce transactional costs.
