The Raczyński Skalski & Partners Law Firm offers comprehensive legal services in the field of payment services and electronic money, in particular in the creation and implementation of legal obligations within the following entities:
- Small Payment Institution (MIP)
- National Payment Institution (KIP)
- Electronic Money Institution (EMI)
- Payment Services Office (BUP)
- Account Information Service Provider (AISP)
- Payment Initiation Service Provider (PISP).
Our team specializes in legal advice for payment institutions. Over the years, we have conducted multiple proceedings before the Polish Financial Supervision Authority (KNF) in obtaining authorizations to provide payment services or entries in appropriate registers. We provide our clients with legal support not only in relations with administrative authorities (including KNF, Office of Competition and Consumer Protection, GIIF), but also in the scope of activities excluded from the provisions of the polish Payment Services Act, in particular within the “limited network”, Cashback, transactions carried out through telecoms or public collections.
Law Firm’s services:
Legal services provided by the Raczyński Skalski & Partners Law Firm in the area of payment institutions are comprehensive and include in particular:
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Conducting proceedings before the Polish Financial Supervision Authority for issuing a permit/obtaining an entry in the register
The Law Firm offers legal support at the highest substantive level to all entrepreneurs who plan to establish an MIP and KIP. Each time, we adjust the scope of services to the individual needs of the client, while ensuring the implementation of all statutory obligations. The experience of the Raczyński Skalski & Partners team also includes legal services in the transformation of a small payment institution into KIP.
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Development and audit of contracts and regulations for payment institutions and other entities providing payment services
Our Law Firm conducts detailed audits of the solutions adopted by payment service providers, identifying risk areas and developing and adapting the required documents to current standards and regulatory guidelines. We implement, among others: reporting procedures and risk management and internal control procedures, risk assessment sheets and personalized procedures and policies necessary for the proper conduct of business, confirming the use of appropriate and proportionate systems and resources by obliged entities. Our services also include legal security of the outsourcing process (support in selecting contractors), and constructing and negotiating the terms of outsourcing contracts.
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Handling disputes between service providers and between suppliers and clients
Raczyński Skalski & Partners specializes in conducting disputes both at the pre-litigation and court stages. The experience of the Raczyński Skalski & Partners team includes, among others: conducting disputes related to the termination of an agreement on maintaining accounts in corporate banking, or informing the relevant supervisory authorities about irregularities in the activities of supervised entities in order to initiate appropriate supervisory activities.
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Representation before supervisory authorities and administrative courts
Our experienced lawyers represent clients before supervisory authorities, such as the Polish Financial Supervision Authority, the GIIF and administrative courts, ensuring effective defense of our clients’ interests, also when financial sanctions have been imposed or there is a risk of being imposed on the obliged entity or its managers.
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Support in completing all reports and reporting information
Reporting and providing reporting information is the responsibility of payment institutions. Each year, MIP and KIP are obliged to submit to the supervisory authorities annual and quarterly information on their activities in the previous year. Being up to date with all amendments to the regulations regarding the reporting of supervised entities, the Law Firm’s team offers full support in completing all reports and forms required by supervisory authorities, including the Polish Financial Supervision Authority, the National Bank of Poland and the GIIF.
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Conducting workshops and webinars
We provide comprehensive workshops on the legal aspects of conducting supervised activities, each time adapting their scope and program to current guidelines and regulations. The Law Firm’s lawyers also organize webinars enabling interested entities to obtain substantive knowledge in the field of payment institutions.
Cooperation with Raczyński Skalski & Partners is a guarantee of professional and transparent licensing and registration processes