Banking & Finance

We have knowledgeable and experienced banking and finance law team, providing a broad range of services covering both traditional banking and finance as well as insurance, FinTech solutions and online consumer crediting.

Examples

  • Successful representation in the licensing process of the very first licensed payment institution in Latvia, which runs mobile payment application Monea
  • Successful legal assistance to a German FinTech Deposit Solutions in expanding its retail deposit related business in Latvia
  • Ongoing legal advice to 4finance, the biggest Latvian online consumer crediting company, on corporate law matters, including drafting of standard agreements with clients and suppliers, legal opinions on corporate and commercial matters, communication with regulatory institutions etc.
  • Participation in a Ministry of Finance working group to create the Financial Sector Development Plan for years 2017-2019, particularly with respect to amendments to law related to payment institutions
  • Together with SEB Enskilda (now called Superia), leading the sales process of commercial part of Latvian Mortgage and Land Bank
  • Legal advice to one of the Big Four accounting firms in litigation related to alleged professional negligence in auditing of a Latvian licensed bank and reporting to regulatory institutions
  • Legal advice to an international bank with respect to financing of sale and purchase of oil products stored in Latvian port terminals
  • Serving as liquidator of LAS VEF Banka
  • Acting for AS “Seesam Insurance” Latvia branch on insurance disputes including a dispute over policy interpretation and building designer liability

Services

  • Licensing of payment and electronic money institutions
  • Licensing of non-bank creditors
  • Ensuring regulatory compliance
  • Structuring an appropriate legal framework of innovative financial services and coordination with the supervisory authorities, including the Financial and Capital Markets Commission and Consumer Rights Protection Centre
  • Advising on ownership structure and preparing respective notifications to supervisory authorities, including the Financial and Capital Markets Commission and Consumer Rights Protection Centre
  • Introduction of the standard documentation templates in various languages
  • Advising on compliance re data protection and privacy, including registration with the State Data Inspectorate, introduction of compliance programmes and compliance review of website content
  • Advising on compliance with legal requirements for marketing activities
  • Transaction structuring
  • Introduction of standard documentation templates in various languages
  • Bank restructuring
  • Security/mortgage registration
  • Drafting of law reform proposals
  • Liquidation of financial institutions
  • Representation in court, including against supervisory authorities

Main Contacts