Publication date: January 19, 2026

A regulated market is a system for trading in financial instruments admitted to trading. It operates according to the rules established by the entity operating the market and is supervised by the Polish Financial Supervision Authority. It is the most formal and strictly regulated type of market. It must be based on transparency, equal access, and disclosure requirements. Shares, bonds, and other securities are permitted on the market. The goal of this market is to ensure safe and fair trading in financial instruments. Market participants include banks, companies, investment firms, and investors.

An auction platform is a specialized type of organized market. It is used for the sale of specific instruments – most commonly CO2 emission allowances—through auctions. The Act of 29 July 2005 on Trading in Financial Instruments is one of the most important legal acts of the Polish capital market. It regulates the operation of the securities and other financial instruments trading market, as well as the activities of investment firms, stock exchanges, trading platforms, and financial supervision. Pursuant to the Act on Trading in Financial Instruments, the Regulation of the Minister of Finance was issued on July 23, 2025, amending the Regulation of April 12, 2019, on detailed conditions that must be met by the regulated market and the auction platform.

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Publication date: January 15, 2026

The draft act amending the Act on the Provision of Electronic Services and certain other acts represents a significant step in adapting Polish legal regulations to the rapidly evolving digital landscape. The growing number of entities operating online, new methods of electronic communication, and the vast scale of data processing mean that the current regulations are increasingly imprecise or inadequate for the current times. In response to these challenges, the legislator proposed changes aimed at both increasing the protection of network users and clarifying the obligations of entities providing electronic services.

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Publication date: January 09, 2026

On 20 September 2024, an amendment to the Act of February 4, 1994 on Copyright and Related Rights entered into force. The purpose of the amendment was to implement two directives of the European Parliament and of the Council (EU) of April 17, 2019, into the Polish legal system: 1) Directive 2019/789 laying down rules on the exercise of copyright and related rights applicable to certain online transmissions by broadcasting organisations and retransmissions of television and radio programmes, and amending Council Directive 93/83/EEC (the so-called SATCAB II Directive) and Directive 2019/790 on copyright and related rights in the Digital Single Market and amending Directives 96/9/EC and 2001/29/EC (the so-called Digital Single Market Directive, or DSM). The deadline for implementing both directives expired long ago, in June 2021. This delay was in particular the result of waiting for the European Commission’s guidelines on the application of Article 17 of the DSM Directive, as well as the controversy related primarily to this provision and the emerging allegations against the directive that it reduces the scope of freedom of speech on the Internet.

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Publication date: January 07, 2026

The Listing Act is a legislative package proposed by the European Commission and adopted by the European Parliament and the Council. Its goal is to increase the attractiveness of public securities markets for companies, primarily by facilitating access for small and medium-sized enterprises (hereinafter referred to as SMEs). The changes introduced are intended to simplify procedures and reduce documentation, as well as reduce burdens and costs for companies.

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Publication date: January 06, 2026

AI washing as a market phenomenon

AI washing is a phenomenon of growing scale and market significance, whose name and general scope are directly analogous to the well-recognized greenwashing and the less-developed ethics washing. Despite the lack of a single, universally accepted definition, all attempts to define it converge on defining this practice as a marketing tactic. In this context, companies attribute advanced capabilities resulting from the implementation of artificial intelligence (AI) to their products, services, or internal processes, even though the actual level of its application is marginal or disproportionate to the claims made.

These behaviors are often the result of intense competitive pressure from other market players, consumer expectations following technological trends, and internal corporate pressure to achieve rapid profits and project an image as an innovation leader. AI has now become synonymous with progress and, often, profit. This is also due to the lack of a generally accepted definition of AI, although one has now been introduced as part of Regulation (EC) No 2024/1689 laying down harmonised rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1139, (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797, and (EU) 2020/1828 (the Artificial Intelligence Act) (hereinafter referred to as the AI Act), which will be discussed later in this article. Nevertheless, it is worthwhile to define AI at this stage and how this concept will be understood for the purposes of the upcoming discussion.

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