
Fintech advisory
Most fintechs operate in the field regulated by systemic legislation. Therefore, applicable regulation plays an important role, in particular the new European Payment Services Directive (PSD2), the revised European Markets in Financial Instruments Directive and associated Regulation (MiFID II) and the new EU regulation governing the prevention of money laundering (AML5). In case of regulatory non-compliance, companies are exposed to regulatory risks.
LEGAL SUPPORT IN LICENSING PROCEDURES
We support clients in the communication with the competent authorities and we draft legal documentation needed within licensing procedures: PSD2, MiFID II, AML licences.
LEGAL SUPPORT IN ENSURING REGULATORY COMPLIANCE
The function of the regulatory compliance is one of the internal controls functions within the regulated financial institutions. For clients, we perform the role of an external compliance officer. Services include:
drafting legal documentation
(policies, risk assessments, opinions)
regulatory compliance checks
(general conditions, contracts, internal acts)
support in the process for introducing new products
(regulatory overview, compliance guidelines)
regulatory compliance assessment
(gap analysis)
communication with competent regulators
monitoring new legislation and preparing an action plan
plan for its implementation
organising training for employees on the topic of legal compliance
DRAFTING LEGAL DOCUMENTATION
AGREEMENTS
Due to the intertwining of technology and law, special knowledge is often required in order to prepare the contracts, which can only be provided by legal experts that understand technology as well. Examples of tech contracts are the following:
software development agreement
software licence agreement
product development agreement
technology development agreement
research and development agreement
financial assets' custody agreement
copyright transfer agreement
escrow and custodial agreement (financial assets)
IP waiver on source code
hosting agreement
cloud services agreement
end user license agreement - EULA
mobile app development agreement
mobile app distribution agreement
platform license agreement
data processing and storage agreement
OTHER DOCUMENTATION
legal opinions
legal-comparative analyses
legal risk assessments