Raczyński Skalski & Partners 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 (SPI)
- National Payment Institution (NPI)
- Electronic Money Institution (EMI)
- Payment Services Office (PSO)
- Providers offering only account information services (AISP)
- Entities providing payment initiation services (PISP).
WHAT WE OFFER
Our team specialises in providing legal advice to payment institutions. We have many years of experience in conducting proceedings before the Polish Financial Supervision Authority (PFSA) in the field of obtaining licences to provide payment services or entries in relevant registers. We provide our clients with legal support not only in their relations with administrative authorities (including the PFSA, the Office of Competition and Consumer Protection (UOKiK) and the General Inspectorate of Financial Information (GIIF)), but also in activities excluded from the provisions of the Payment Services Act, in particular within the framework of ‘limited networks’, cashback, transactions carried out by telecommunications companies and public collections.
Services provided by the Law Firm:
The legal services provided by Raczyński Skalski & Partners in the area of payment institutions are comprehensive and include, in particular:
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Conducting proceedings before the Polish Financial Supervision Authority (PFSA) for the issuance of a licence/entry in the register
The Law Firm offers legal support of the highest professional standard to all entrepreneurs who plan to establish a SPI and a NPI We tailor the scope of services to the individual needs of each client, while ensuring that all statutory obligations are met. The experience of the Raczyński Skalski & Partners team also includes legal services in the transformation of a small payment institution into a PFSA.
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Development and audit of agreements and regulations for payment institutions and other entities providing payment services
Our Law Firm conducts detailed audits of solutions adopted by payment service providers, identifying areas of risk, and develops and adapts the required documents to current regulatory standards and guidelines. We implement, among other things, reporting procedures and risk management and internal control procedures, risk assessment sheets and personalised procedures and policies necessary for the proper conduct of business, confirming the use of appropriate and proportionate systems and resources by obligated entities. Our services also include legal protection of the outsourcing process (support in selecting contractors) and drafting and negotiating the terms of outsourcing agreements.
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Handling disputes between service providers, as well as between providers and customers
Raczyński Skalski & Partners specialises in conducting disputes at both the pre-trial and trial stages. The experience of the Raczyński Skalski & Partners team includes, among other things, conducting disputes concerning the termination of accounts in corporate banking, or informing the relevant supervisory authorities about irregularities in the activities of supervised entities in order to initiate appropriate supervisory measures.
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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 (PFSA) and the General Inspectorate of Financial Information (GIIF), as well as administrative courts, ensuring effective defence of our clients’ interests, even when financial sanctions have been imposed or there is a risk of such sanctions being imposed on the obligated entity or its managers.
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Support in completing all reports and reporting information
Reporting and providing reporting information is an obligation of payment institutions. Each year, SPIs and NPIs are required to submit annual and quarterly information on their activities in the previous year to the supervisory authorities. Keeping abreast of all amendments to regulations concerning the reporting of supervised entities, our 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 Information Technology and Information Security Authority.
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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 programme to current guidelines and regulations. Our lawyers also organise webinars allowing interested parties to gain substantive knowledge about payment institutions.
