Banking Law

Our banking law group forms part of the Financial Services Law Team. We advise equally banks and other credit institutions, payment services organizations and their clients on both regulatory, prudential, conduct of business rules, and best industry practices. Banking law and practices are extremely dynamic and our lawyers strive to be at the forefront of new developments.

How we can help

  • We provide legal advice on all aspects of the Bulgarian and EU banking legislation, whether it concerns the taking up of the business of banking, prudential regulations, conduct of business rules, or novel banking products being developed by the industry
  • We can represent banking clients, in licensing, authorization, notification and other proceedings, before the Bulgarian National Bank and other bodies having certain oversight functions such as the Financial Supervision Commission, the Deposit Insurance Fund, the “Financial Intelligence” Directorate of “National Security” State Agency
  • We can advise banking clients on compliance with general financial industry regulations such as consumer protection rules, personal data protection, rules against money-laundering and the financing of terrorism, know your client
  • We assist and represent clients during negotiations of banking arrangements, we draft legal contractual documents, including collateral documentation
  • We provide legal opinions on the validity and enforceability in Bulgaria of various types of international lending and other banking agreements
  • We also advise on the enforceability in Bulgaria of foreign court judgments or arbitral awards issued in disputes involving banking arrangements
  • We can represent and defend our clients in court and before arbitrators concerning rights arising under banking arrangements

Key banking law practice areas

  • Start-up of banking business – licensing, EU “passport”
  • Legal aspects of prudential regulations and Basel 2, hybrid instruments, subdebt derivative and securitization, anti-crisis measures in EU an Bulgaria
  • Conduct of business rules and marketing, distance marketing, MiFID
  • Internal organization of banks, corporate governance and rules on the handling of conflicts of interest
  • Other general regulatory aspects and in particular personal data protection rules and rules against money laundering
  • Wholesale banking transactions, syndicated lending, factoring, leasing, title finance, ISDA Master Agreement derivatives, placement of financial instruments
  • Project finance
  • Retail banking, bancassurance, complex retail products
  • Collateral and security in banking transactions, FCAD-covered transactions
  • Banks as specialized intermediaries, custodianship, bond trusteeship, issuance of mortgage-backed bonds, ABS, commercial paper, back-to-back arrangements
  • Private banking transactions
  • Payment systems and services rules, SEPA, the introduction of the EURO
  • Banks advising their clients on EU Structured Fund
  • Litigation involving banks