The Chamber of Investment Firms

The Polish Chamber of Brokerage Houses (IDM) is the largest independent, self-governing organization of firms. We represent members: 7 of the largest banks (brokerage houses) and investment firms, which together account for 99% of the volume of local trading (stocks, bonds, futures) on the Warsaw Stock Exchange among the Exchange's local members.
The Chamber's mission is to promote the development of the capital market for raising capital by companies for economic growth and increasing the wealth of society. The Chamber acts as a Capital Market Advocate - presenting recommendations and opinions to the public that affect the competitiveness and efficiency of the capital market.
We are the voice of the brokerage industry - we work for legal solutions to strengthen the competitiveness of the Polish capital market, we conduct training activities to increase the professional level of employees of investment firms, we organize conferences to promote the development of the capital market. We work with the government and capital market organizations to support the development of a competitive regulatory environment and business environment.
The Chamber is a member of the European Forum of Securities Associations.
The Polish Chamber of Brokerage Houses operates on the basis of:
Act on Trading in Financial Instruments
Act on Chambers of Commerce of 30 May 1989
Statute of the Polish Chamber of Brokerage Houses
Membership in the Polish Chamber of Brokerage Houses is voluntary.

In 1991, the legislator provided for mandatory self-government for the emerging regulated capital market: the Association of Brokers, which was subordinated to and supervised by the Securities Commission. The law did not provide for self-government of brokerage houses. They began to look for their own self-organization formula, which resulted in the establishment of the Brokerage Houses Team of the Polish Bank Association ZBP). ZDM ZBP played a very positive role in the development of the legal and economic environment for brokerage houses. As the market evolved, the brokerage houses associated in ZDM began to see the positive aspects of integration and cooperation to promote their common interests. Through the organization, which represented the interests of the community, brokerage houses became important partners of institutions that had a real impact on the formation of the Polish capital market. The amendment of the Law on Public Trading of Securities in December 1993 allowed the community to establish a chamber of commerce. Two years later, the brokerage houses affiliated with ZDM ZBP started working on the evolutionary transformation of the Team into a chamber of commerce. The majority of the brokerage houses believed that the community should aim to create a strong, credible and representative organization. During the consultations of the draft law on public trading, the community caused the deletion of the provision intended by the authors to ensure mandatory participation of brokerage houses in such a chamber.
In 1996, an independent organization of brokerage houses was established: the Polish Chamber of Brokerage Houses, which opened a new chapter in the self-organization of the community and its ability to take action.

The Polish Chamber of Brokerage Houses as an advocate for the interests of capital market participants
The mission of the Polish Chamber of Brokerage Houses is to support the development of a competitive capital market that offers conducive conditions for companies to source capital for investment purposes for economic growth and building the wealth of citizens. The Chamber acts as a Capital Market Advocate - presenting recommendations and opinions to the public that affect the attractiveness and efficiency of the capital market, as well as expresses opposition to practices or solutions considered harmful to the development of the capital market and the economy.
The Chamber actively cooperates with self-governing organizations of financial market circles in Poland and abroad to develop joint positions and expert opinions on issues relevant to the capital market.
The Polish Chamber of Brokerage Houses as a self-regulatory and co-regulatory institution for the brokerage community
The foundation for the development of the capital market is the security of its participants. Confidence in the system and its effectiveness, as well as the effectiveness of supervision, is part of the market's credibility. As part of its mission to build confidence in the capital market, the Chamber upholds compliance with industry standards and rules. Guided by the interests of all its participants, the Chamber is working to maintain the highest standards of professionalism in the industry. The Chamber, as an organization of employers who bear responsibility for the actions of employees of investment firms, brokers and advisors, is a natural recipient of such competence. Together with our members, representatives of legislators and supervisory institutions, we participate in the process of developing regulations, standards, good practices and recommendations, as well as improving the qualifications of investment firm employees. The solutions implemented - as part of the self-regulation mechanism - promote the interests of the industry while respecting the interests of customers.
Cooperation with government administration and capital market institutions in the area of regulations and standards supporting the development of the capital market
As the largest independent industry organization, the Chamber has a strong mandate to represent the brokerage community in the debate with legislators, regulators and government administration. When developing regulations and setting standards for participants in the domestic capital market, it is important to take into account the specifics of the local market. EU directives provide the possibility of adapting the level of regulation to the parameters and size of the regulated area by commonly applying the principle of proportionality, often allowing the level of regulation to be adapted in specific cases. The Chamber's environment supports the regulator and supervisory institutions in the application of the aforementioned principle, which could potentially have a negative impact on the functioning and competitiveness of the Polish market. In the Chamber's opinion, it is necessary for the environment to systematically cooperate with the legislature and market regulators to adapt regulations to the realities of the domestic market.
Promotion and education for building a competitive capital market
As part of building a competitive capital market, the Chamber conducts activities to promote and disseminate knowledge about the capital market and brokerage activities in particular. These activities include both training and conference initiatives. The Chamber participates in and initiates expert and scientific studies and reports on the development of the Polish capital market and the Polish economy. The Chamber's experts cooperate with leading economic institutes and universities, such as University of Warsaw and Jagiellonian University.
Key objectives and tasks of the Chamber (extract from the IDM Statute)

§ 5 The main tasks of the Chamber are:
to contribute to the creation of a legal and economic environment conducive to the accumulation and activation of capital and to the stimulation of behaviour that encourages investment,
to cooperate with the state administration and capital market institutions in initiating, developing and improving capital market regulations, as well as to counteract regulations considered by the members of the Chamber to be detrimental to the market,
to improve the self-regulatory function and expand the powers of the Chamber, among others by taking over regulatory powers from state administrative agencies,
to deepen and consolidate relations between the members of the Chamber, to preserve the community character of the organization and to be guided by the common responsibility for the security and development of the securities market,
to ensure equal protection of interests of the respective members of the Chamber,
to protect the participants of securities trading by introducing and applying best practices for brokerage houses and systemic solutions for the security and stability of the capital market,
to initiate and participate in studies and educational activities related to the development of the Polish capital market and the Polish economy,
to carry out educational and training activities for the benefit of the members of the Chamber

§ 6 The Chamber implements its tasks in particular by:

§ 7 The Chamber creates and disseminates the key principles of professional ethics in the activity of brokerage houses in the form of the Code of Best Practice for Brokerage Houses and ensures that they are observed.

§ 8 The Chamber keeps a set of standards and accepted market practices referred to in § 6 item 4.

§ 9 The Chamber may carry out the government administration tasks entrusted to it by the public authorities.

Brokerage houses play an important role in the development of the capital market and the economy. They raise capital for companies, advise investors on the purchase of shares on the primary market and on stock exchange transactions. They contribute to economic growth and job creation in Poland:
They offer guidance the Polish government on the subject of financing strategic infrastructure projects, energy projects and environmental expenditures that help build a more competitive economy.
They also provide advice to individual and institutional investors on how to invest capital effectively and build savings in order to enhance the financial well-being of citizens.
They offer advice and raise capital for businesses in Poland.
They support the development of the Warsaw Stock Exchange by providing advice to their corporate clients on the possibility of listing their companies' shares on the secondary market organized by the .

The Chamber is a Member of the European Forum of Securities Associations (EFSA). The meetings of are devoted to discussing current regulatory and practical problems of investment firms in the respective countries, as well as sharing experiences both on the functioning of market institutions and on the principles of cooperation with domestic regulators. In 2023, the meetings were held both remotely and physically and focused mainly on the operation of investment firms. During the meetings, topics important to EFSA Members were discussed, in particular issues related to the Retail Investment Strategy (RIS).
Link to the EFSA website: https://efsa-securities.eu/

He has strongly advocated for the development of the Polish capital market for more than 20 years. He has extensive career experience. Among others, he served as President of the Management Board of Dom Maklerski DB Securities SA from 1999 to 2018 where he was responsible for the brokerage house’s operations in Central European markets (Warsaw, Budapest, Prague) and he was the President of the Management Board of Santander Securities S.A. in 2018 and 2019. Previously, he worked for Scotia Bank in Canada and he obtained a license to advise and intermediate in transactions on the regulated capital market.
He has been the President of the Management Board of IDM since 2012. Supervisory Board Chairman of IDM in 2011 and 2012, Management Board Member of IDM from 1997 to 2010. In 2001 and 2002 he was a member of the Supervisory Board of the Warsaw Stock Exchange as a representative of the brokerage houses. At the initiative of Waldemar Markiewicz, the Polish Chamber of Brokerage Houses kicked off a public debate on the necessity of devising a governmental strategy for the capital market, which led to the government’s Capital Market Growth Strategy.
In 2023, “Parkiet” the Stock Exchange and Investors Newspaper awarded President Markiewicz a special prize - the title of Personality of the Capital Market. The members of the awards committee recognized the many years he devoted to the development of the capital market and the brokerage sector.
On 27 June 2024 he was appointed to the Supervisory Board of the Warsaw Stock Exchange
Graduate of the Foreign Trade Faculty at the Main School of Planning and Statistics (currently Warsaw School of Economics), master’s degree in economics.