Transparency Obligations of Proxy Advisors Under Polish Law – A Comparative Approach

This article aims to analyse the role of proxy advisors in the context of EU law and the manner in which the relevant provisions have been implemented into Polish, German and Italian law.As these advisors provide advice to institutional investors on how to exercise their voting rights, they may influence shareholder and company decisions, creating a risk of conflicts of interest and justifying the need for transparency in their activities.While this institution plays a significant role in the United States, its importance in Poland appears minimal.The author argues that the provisions concerning proxy advisors generally have no practical application under Polish law and are largely irrelevant.