Insider Trading in Poland – Legal Help for Foreigners

Insider trading is a serious offense under Polish law with significant legal consequences for individuals and businesses alike. Foreigners in Poland—whether investors, company representatives, or expatriates—may face complex challenges if accused of insider trading or if they are victims of such illicit activities. Understanding legal definitions and knowing where to seek professional legal assistance is essential. This ensures you can navigate these cases effectively.

What is insider trading under Polish law?

Insider trading involves trading financial instruments based on material, non-public information („inside information”) relating to a company or its securities. This can provide an unfair market advantage.

Engaging in insider trading or unlawfully disclosing inside information can lead to criminal charges, administrative penalties, and civil liability. Consequences include substantial fines, imprisonment, and restrictions on market participation.

Common scenarios involving insider trading in Poland

Foreigners operating or investing in Poland might encounter insider trading issues in various contexts, such as:

• Trading securities based on confidential company information obtained through professional or personal connections within a company.
• Disclosing inside information to others who then trade based on that information.
• Cross-border transactions involving Polish-listed companies, which complicate jurisdiction and enforcement.
• Investment advisory roles where non-public information may be misused.

Given the complex nature of insider trading cases, early legal advice is critical. It helps protect rights and ensures compliance with Polish and EU regulations.

A notable example involves a high-profile case with Jose Luis Casero Sanchez, a Spanish national and former Senior Compliance Analyst in Warsaw. He was charged by the U.S. Securities and Exchange Commission (SEC) with insider trading. Sanchez exploited confidential information about at least 45 corporate events involving his firm’s clients. He generated illicit profits exceeding $471,000. To evade detection, he used brokerage accounts held in his parents’ names and spread trades across multiple accounts. The SEC obtained a court order to freeze his assets. This case demonstrates the cross-border enforcement implications and severe penalties linked to insider trading in Poland and beyond. More details on this case can be found here.

Legal assistance for foreigners accused or victimized

If you are accused of insider trading or believe you have been impacted by it in Poland, seek immediate assistance from a qualified legal professional. Language barriers and unfamiliarity with local processes can add to the challenge. A Polish attorney understanding financial markets and criminal law can:

• Explain your legal rights and obligations under Polish law.
• Represent you before authorities like the Polish Financial Supervision Authority (KNF), prosecutors, and courts.
• Assist in gathering and presenting evidence, whether you are defending charges or making claims as a victim.
• Navigate procedural and jurisdictional issues, especially in cross-border cases.

How a criminal lawyer can help

Working with a criminal lawyer experienced in insider trading cases offers key advantages, including:

• Full representation during administrative investigations and court proceedings in Poland.
• Translation and interpretation of legal documents and regulatory requirements.
• Communication with Polish authorities, financial regulators, and foreign legal entities.
• Negotiating settlements or plea agreements when appropriate to reduce penalties.
• Advising on compliance programs and preventive measures to minimize risks.

Effective legal counsel ensures fair treatment during investigations. It also protects your interests in complicated regulatory environments.

Professional legal help for foreigners in Poland

Insider trading allegations can have far-reaching financial and reputational consequences. Whether you face regulatory scrutiny, criminal charges, or have suffered from insider trading, professional legal support is indispensable. Attorneys with expertise in Polish financial law and experience helping foreign clients can guide you through every stage, from initial inquiry to final resolution.

Need help with an insider trading case in Poland?
Contact us for prompt, expert legal advice and representation. We serve English-speaking and international clients, ensuring clear communication, strategic advocacy, and thorough protection of your rights throughout your case.

📞 +48 572 279 379
📧 pawel.mazur@pjmazur.pl
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Paweł J. Mazur
Adwokat

I am a qualified advocate in Poland and also admitted as a solicitor in England and Wales. More…