Poland’s legal market is in flux, shaped by international activities and sweeping regulatory reforms, according to Fieldfisher Partner Piotr Szelenbaum, with local and global developments fueling momentum across different sectors, from AI and cybersecurity to crypto and capital markets.
"The last few months have been dynamic, and you can look at the changes through both local and global lenses," Szelenbaum begins. "Locally, one of the major developments was Fieldfisher’s own entry into the Polish market, part of a broader trend toward increased internationalization. We’ve seen several major firms like Osborne Clarke and Addleshaw Goddard enter, and in some cases exit, the market. It’s a reflection of how the legal landscape is shifting, with more emphasis on mid-market work and sectoral specialization." Szelenbaum goes on to say that he is hopeful this trend will prove to be a game-changer, demonstrating that the Polish market is mature and attractive enough to support long-term international investment.
"Another key local theme is the discussion around deregulation," Szelenbaum continues. "While still mostly conceptual, there’s a growing recognition that overregulation is a problem, not just in Poland, but across the EU. We’ve seen the first steps toward change, with several legislative initiatives aiming at streamlining regulatory burdens. It’s still early days, but there is hope that after the presidential elections in Poland, the government's initiative in this regard will translate into tangible reform."
Focusing more on the global factors impacting Poland, Szelenbaum says that "the rapid development of digital industries is shaping everything. Two major regulatory initiatives stand out: the AI Act and the new cybersecurity framework." According to him, Poland is currently working on draft legislation for both, and it is expected that the implementation will happen in the coming months. "The scale of impact is enormous, around 15,000 entities in Poland alone will be affected. These changes won’t just generate compliance work; they’ll likely transform the way legal services are structured, especially in the IP and TMT sectors. Lawyers in these fields will be very busy."
Additionally, Szelenbaum says that while cybersecurity is not a new issue, "the net is widening. More entities are coming under compliance obligations, creating fresh challenges around cost, process, and internal procedures. These changes are also bleeding into adjacent sectors, from defense and healthcare to entertainment and financial services. Compliance efforts and regulatory costs are expected to rise, which will have a knock-on effect on M&A activity as companies adjust structures, raise capital, or consolidate operations."
Finally, Szelenbaum underlines a few final items that stand to impact the market in the months ahead. "First, crypto, as it's time we accept that digital assets are here to stay. The implementation of new crypto regulations will fundamentally change how the financial services sector operates," he says. "Then there's the AI Act and the broader digitization agenda, which will create an entirely new compliance environment. Lastly, I’m curious to see how the amended Prospectus Regulation will affect equity capital markets in Poland. It could inject fresh energy into the Warsaw Stock Exchange which in recent months has been performing very well and lead to a more active ECM landscape, something we’ve been waiting for. Whether that happens or not remains to be seen, but the building blocks are certainly being laid," Szelenbaum concludes.