On 17 July 2023, POL FSA announced Provincial Administrative Court dismissed Daniel Mzyk's complaint against its decision of March 2018.

• Case was returned to Provincial Administrative Court after the Supreme Administrative Court in Warsaw accepted cassation appeal filed by Daniel Mzyk on 28 July 2022.
• Fine of PLN 1,000,000 imposed for failing to notify POL FSA, public Yawal firm, based in Herby, exceeded 50% of number of votes in company in connection with indirect purchase of its shares by Poway Holdings Limited based in Larnaca, 30 October 2013.
• Provincial Administrative Court also found POL FSA took into account all criteria for imposing penalty and could impose maximum penalty of 1 million zlotys in this case.
• POL FSA stated the judgment of the Provincial Administrative Court is not yet final.

Case Details

• Case in connection with failure to notify POL FSA and public company Yawal SA of changes in shares in Yawal SA in the years 2009-2011.
• Constituted violation art 69, act on public offering which requires substantial shareholding disclosure by shareholders, to ensure shareholder transparency.