Financial Market Regulation

As part of financial market regulation, we primarily provide the following legal services:

• Licensing proceedings before the Czech National Bank (ČNB)

Based on our experience we will successfully guide you through the entire licensing process. We will sit down with you to develop your idea into a business plan in accordance with ČNB requirements. In cooperation with you, we will prepare internal regulations tailored to how you want to run your business and draft contractual documentation for your clients and business partners. We will assess compliance with the requirements for management as well as capital requirements. Subsequently, we will submit the license application and communicate with the ČNB on your behalf. We will supplement the required information based on ČNB requests and answer all their questions.

• Support during business operations

Throughout your business operations, we can keep you informed about regulatory updates along with an analysis of their impact on your activities. We can also provide ongoing service of legal department, internal compliance, or internal audit services.

• Assistance during inspections

In the event of an inspection by supervisory authorities, we will be at your side throughout the process. We will prepare you for in-person meetings, review the submitted documents, and alert you to potential issues in advance. We will actively participate in the inspection to ensure that you can exercise and protect your rights to the fullest extent. We will alert you to any excessive actions by supervisory authorities during inspections. If necessary, we will help you implement any imposed corrective measures. If the inspection does not turn out in your favour, we will represent you in subsequent administrative and/or judicial proceedings.

We have experience in the following areas:

• Payment services – We have experience in providing services to traditional payment institutions, money remittance providers, as well as PSD2 service providers such as account information service providers and payment initiation service providers. We have set up both internal service provision processes as well as relationships with business partners and authorized representatives. We have assisted clients in establishing risk management processes, particularly in protecting information assets.
• Investment services – We have experience in providing services, including obtaining licenses, for investment firms and investment intermediaries. We also have experience with investment funds. We have set up entire onboarding processes, including suitability and appropriateness assessments, and have assisted with capital adequacy management.
• Crowdfunding – We have experience in licensing processes and subsequent provision of loan-based crowdfunding services, setting up contracts for both investors and project owners.
• AML (Anti-Money Laundering) – We have experience in setting up and reviewing anti-money laundering compliance measures. We have designed onboarding processes for both online and in-person services. We have established risk assessments and subsequent client and transaction evaluations. We have conducted mandatory training on regulatory updates and performed AML process audits with subsequent recommendation of necessary adjustments.
• Insurance – We have experience in setting up client-related processes as well as internal processes related to insurance.
• Public market law – We also have experience in the issuance and administration of securities.

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