The purpose of the paper is to discuss the structure of financial intermediaries market with particular reference made to mutual funds, and to present the role they have played in the financial sector. Moreover, the study focusses on the presentation of the environment of the mutual funds functioning in Poland, which is possible by comparing the level of assets values in main groups of financial institutions over the long-term perspective. Furthermore, it is essential in the cognitive context to determine the influence of market trends on the popularity of given segments of funds. The analysis has shown that the development of collective investment institutions industry in Poland is incontestable. Even though the mutual funds have gained a relatively strong position on the financial intermediaries market, they clearly give priority to the banking sector institutions. The volume of market shares of main types of funds has changed over time, which could be dependent on capital market factors.(original abstract)
Observing recent events in Cyprus and the resulting financial turmoil, appeared considerable doubts as to whether troubled banks and their subsequent insolvency will not cause a complete collapse and bankruptcy of national economies. In addition, difficulties in recovering complex deposits or take financial resources in bank branches undermine the authority of the banks. Therefore, based on the experience of the United States and Europe in the article tries to answer the following questions: if the credibility and confidence in the banking has been actually violated and whether banks can be still treated as institutions of public trust? Relying on numerous examples can be concluded that although the banks on the basis of the theory are treated as institutions of public trust, nowadays are no longer 100% reliable and do not enjoy so much confidence as before.
Purpose. This paper aims is to analyse and verify the applicable principles of Corporate Social Responsibility (CSR) reporting in light of the regulations of Directive 2014/95/EU, as well as to evaluate quality of non-financial information presented in CSR reports of financial institutions in the Polish and in the Greek market. Design/methodology/approach. Two research hypotheses have been postulated in connection with this aim: (H1) - The Directive 2014/95/EU contains regulations that will contribute to improved comparability and usefulness of information presented in financial statements. (H2) - financial institutions in the Polish and in the Greek market draft their CSR reports in different ways, which obstructs their comparability. In order to verify hypothesis (H1), regulations of the Directive 2014/95/EU and specialist literature have been reviewed. In order to verify hypothesis (H2), the author has conducted research into a group of financial institutions in the Polish and in the Greek financial market by examining and analysing CSR reports compiled in 2010-2015 with regard to quality of the information, in particular, its usefulness and comparability. This assessment involved reviewing of: principles of publication and verification of the reports, frequency of their drafting, volume, scope and structure. Findings. It must be concluded neither the existing regulations nor the reporting practices ensure the qualitative features in question. As a consequence, CSR reports are incomparable and unclear. Introduction of sectoral reporting standards in future should be considered, as it would help to improve clarity and comparability of the reports. Research limitations/implications. Author is aware of the limited subjective scope which might lead to some restrictions when extrapolating the results onto all financial institutions operating in world. Originality/ value. Examination a group of financial institutions in the Polish and in the Greek market by analysing quality their of CSR reports.(original abstract)
Financial institutions are entities of public interest for which reputation and good image are important considerations. Therefore, reporting of socially responsible actions appears a natural consequence of their public initiatives. As any legal regulations that would make CSR reporting obligatory are absent, not all financial institutions draft such reports, although they are perceived as major sources of information to be used in decision-making processes. This paper aims to analyse benefits of CSR reporting in light of specialist literature and surveys and to evaluate trends of CSR reporting by financial institutions, with particular reference to standards in place. Both the literature review and empirical research have helped to verify the following hypotheses: - (H1) - communication with stakeholders is the prime reason for compiling CSR reports - this is corroborated by both the review of specialist literature and an empirical survey conducted in 2013 by Ernst&Young and Boston College Center for Corporate Citizenship among members of the Center for Corporate Citizenship and Survey Sampling International (SSI). - (H2) - financial institutions as entities of public interest account for a substantial share of reporting organisations - financial institutions drafting CSR reports submitted to GRI (Global Reporting Initiative) in 2005-2014 have been analysed in this perspective. Numbers and structures of the reports are evaluated with regard to global regions and sizes of financial institutions. To assess importance of a financial institution among reporting entities, numbers of financial institutions compiling CSR reports are analysed in reference to all reporting organisations. Details concerning CSR reports are divided into those drafted in conformity with GRI guidelines and those following other rules and guidelines - this part of the study was designed to examine the extent of standardisation of CSR reports.(original abstract)
The study focused on selected issues of counteracting system of money laundering, both in terms of institutional and law regulations. Particular attention was paid to financial safety measures, which financial institutions are required to use. They have been presented as divided into measures relating to the financial transactions, as well as measures relating to customers of financial institutions. Despite the introduction of new regulations in this area, the risk of money laundering is not reduced, which puts into question the effectiveness of implemented solutions.
The FSB's proposal on Total Loss Absorbing Capacity (TLAC) constitutes the last major building block of the post-crisis regulatory reform agenda for global financial markets. The proposal aims at creating the preconditions for an orderly liquidation of complex banking institutions that would ensure the continuation of critical financial services without the need to use taxpayers' money in the resolution. The FSB's proposals are fundamentally conducive to achieving these aims. However, the TLAC proposal will have considerable side-effects on the organisational structure and competitiveness of cross-border banking groups; specifically, it is likely to disadvantage banking groups with material foreign subsidiaries. Moreover, while the TLAC proposal provides a comprehensive framework concerning capital requirements for too-big-to-fail institutions, the treatment of other aspects which influence systemic stability, e.g. liquidity and rollover risk, are underdeveloped.
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