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Regulatory Matters of Financial Institutions and Interaction with the Market Regulator

Regulatory support for financial institutions, payment companies and fintech business — from licensing to interaction with the regulator

About the service
Work process
Key lawyers
Clients
FAQ

What is regulatory support for financial institutions?

We advise financial institutions, payment companies, fintech businesses and investors on regulatory matters related to the launch, structuring and operational activities on the financial market of Ukraine.

Our support covers the regulatory analysis of the business model, obtaining licences and approvals, adapting internal documents to the requirements of the law, supporting interaction with regulators, and advising on compliance, corporate governance, ownership structure, qualifying holdings, AML / KYC and reporting.

We help clients assess regulatory risks as early as the business planning stage, choose the optimal operating model, prepare documents for the regulator and ensure compliance with the requirements applicable to financial institutions, payment systems, fintech companies and other participants in the financial market.

What we do

  • Advise financial institutions on regulatory matters
  • Analyse regulatory requirements for the business model
  • Support the establishment and structuring of financial institutions
  • Advise on the regulation of payment systems and fintech companies
  • Support obtaining licences, permits and approvals
  • Prepare documents for interaction with the market regulator
  • Support communication with the NBU, the NSSMC and other competent authorities
  • Advise on ownership structure, qualifying holdings and business reputation
  • Develop internal regulations, policies and procedures
  • Advise on corporate governance and the internal control system
  • Support AML / KYC, compliance and risk management
  • Advise on the reporting of financial institutions
  • Support regulatory inspections, requests and correspondence with the regulator
  • Advise on the launch of new financial products and services
  • Provide ongoing legal support to financial institutions, payment companies and fintech businesses

What regulatory support for financial institutions includes

1
1
Regulatory analysis of the business model
Assessment of the planned activities, financial products, client model, sales channels and the licences, permits or approvals required
2
2
Establishment and structuring of a financial institution
Choosing the organisational model, ownership structure, corporate governance and operating structure with regard to the requirements of financial regulation
3
3
Licences, permits and approvals
Preparation of documents and support in the procedures for obtaining the licences, permits, registrations and approvals required to operate on the financial market
4
4
Interaction with the regulator
Support in communication with the market regulator, preparation of applications, explanations, responses to requests, letters, notifications and other documents
5
5
Payment systems and fintech
Advice on the regulation of payment systems, payment services, electronic money, fintech products and digital financial services
6
6
Corporate governance and internal control
Development of regulations, policies, procedures, organisational structure, the risk management system, internal control and compliance
7
7
AML / KYC and compliance
Support on financial monitoring, client identification, counterparty verification, internal procedures, staff training and preparation for inspections
8
8
Ownership structure and qualifying holdings
Advice on the transparency of the ownership structure, approval of qualifying holdings, and requirements for beneficiaries, managers and business reputation
9
9
Reporting and operational compliance
Advice on regular reporting, notifications to the regulator, changes in activities, the launch of new products and the maintenance of compliance with the requirements of the law
10
10
Inspections and regulatory risks
Support during inspections, requests and regulator claims, analysis of violations, and preparation of a legal position and recommendations to minimise risks

Key lawyers

Dr. Valentyn Gvozdiy
Dr. Valentyn Gvozdiy
  • Founding Partner at GOLAW, Attorney at law, PhD
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Contact
Linkedin
PDF
Sergii Oberkovych
Sergii Oberkovych
  • Founding Partner and Managing Partner at GOLAW, Attorney at Law
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Contact
Linkedin
PDF
Oleksandr Melnyk
Oleksandr Melnyk
  • Partner, Head of Corporate Law and M&A practice, Attorney at law
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Contact
Linkedin PDF
Viktoriia Bublichenko
Viktoriia Bublichenko
  • Partner, Head of Tax, Restructuring, Claims and Recoveries practice, Attorney at law
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Contact
Linkedin
PDF

We are trusted We are trusted

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Häufig gestellte fragen

  • Which regulator does a financial institution deal with?

    It depends on the type of activity: banks and most financial and payment institutions are regulated by the NBU, while capital markets and investment funds are regulated by the NSSMC. We determine the applicable regime and support interaction with the relevant authority

  • What is a qualifying holding and why is it approved?

    It is holding a stake in a financial institution above a set threshold. Acquiring such a holding requires the regulator’s approval, which checks the transparency of the structure, the reputation and the financial standing of the acquirer. We support the approval and prepare the documents

  • Does a fintech company need a licence?

    It depends on which services are provided. Some fintech products require a licence or registration, others do not. We analyse the business model and determine the necessary permits as early as the planning stage

  • What should be done during a regulatory inspection or request?

    We support regulator inspections and requests: we prepare responses, a legal position and documents, represent the institution’s interests and help minimise the risk of sanctions

Get in touch

To get a consultation, please fill out the form below or call us right away:
All data is protected by attorney-client privilege in accordance with Article 22 of the Law of Ukraine “On the Bar and the Practice of Law.”
Or call to us:
manager contact +380 44 581 1220
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Contact us via messenger:
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We respond within 2 hours on business days 31/33 Kniaziv Ostrozkykh st, Kyiv
All data is protected by attorney-client privilege in accordance with Article 22 of the Law of Ukraine “On the Bar and the Practice of Law.”
+380 44 581 1220

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