Experience – Financial Institutions

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MiFID, KIID and PRIIPs regulations

  • Advice for banks conducting brokerage operations as well as a leading Polish brokerage on adapting their operations to achieve compliance with MiFID regulations
  • Advice for international financial institutions on compliance of their customer documentation with KIID and PRIIPs requirements

Anti-money laundering

  • Advice on compliance with regulatory requirements for combating money laundering
  • Advice for financial institutions on application of AML regulations
  • Creating internal procedures to prevent money laundering

Payment instruments
We have advised:

  • On compliance with regulatory requirements by specific participants in payment systems
  • On introduction of innovative payment services, including online and mobile systems
  • On payment cards, including prepaid cards
  • On outsourcing issues related to payment instruments
  • On negotiation and drafting of agreements among participants in payment systems
  • Payment service organisations
  • Merchants accepting payment instruments
  • Participants in payment systems in proceedings before the Office of Competition and Consumer Protection

Consumer credit
We have advised:

  • Enterprises providing consumer credit services (creation of business structures)
  • Foreign financial institutions on options for cross-border provision of consumer credit
  • On interest caps and statutory limitations on consumer credit costs

Claims trading (securitisation)
Our experience includes advice:

  • On creation of structures for securitisation transactions
  • Financial institutions on the process involved in the sale of debt
  • Leading banks in disputes arising out of transactions in claims
  • On the restructuring of public companies, including debt restructuring (converting debt into shares via a bankruptcy proceeding and then listing the shares)
  • On acquisition of participation units in securitisation funds

Advice to companies and board members in proceedings commenced against them by the Polish Financial Supervision Authority (e.g. in connection with failure to comply with reporting obligations):

  • Representing public companies and their board members in proceedings before the regulator
  • Support for members of the authorities of public companies in the event of notifications to the prosecutor’s office by the Financial Supervision Authority
  • Support during criminal proceedings against board members

Among other matters, we have recently advised:

  • A foreign bank on establishment of an outsourcing centre
  • Global capital groups investing in innovative shared services centres in Poland in connection with state aid
  • On outsourcing involving processing of confidential banking information and personal data by a credit reference agency
  • On outsourcing of banking activities to a foreign company in the same group (compliance with Polish money laundering, bank secrecy and data protection regulations)
  • On conclusion of outsourcing agreements with banks involving personalisation of payment cards