MACURA | Unikalna wiedza ekspercka

Kancelaria MACURA.
ul. Odyńca 7/13
02-606 Warszawa

T: (+48) 696-011-713
M: monika.macura@kancelariamacura.pl

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Consent proceedings for the acquisition of shares in an electronic money institution

In connection with the client’s intention to acquire 100% of the shares in the sole electronic money institution in Poland, the firm submitted an application to the Polish Financial Supervision Authority for approval of the acquisition of shares of. The application for consent to acquire shares in an electronic money institution is a unique type of administrative procedure, which, due to the fact that there is only one electronic money institution established in Poland, has never been carried out in practice before.

The application for consent is highly formalized the complexity of the documentation is comparable to documentation shat shall be gathered to obtain consent for providing services as an electronic money institution.

The application shall include documentation on the acquirer and the acquirer’s managers. The application shall also contain information on the purchaser’s investment plans in relation to the e- money institution, its business plan and financial plan, as well as its internal regulations on AML/CFT and internal control, a description of its IT systems, its accounting policy, a description of the services it intends to provide to the Company.

The firm prepared and completed the application and worked closely with the client with regard to the documentation that was submitted to the Financial Supervision Authority together with the application.

See also:

Documentation of the anti-money laundering and anti-terrorist financing (AML) system

For our client, during regular legal advice, we developed documentation for an anti-money laundering and counter-terrorist financing system (hereinafter “AML/TF system”, maximum penalty for violating those laws may result in financial penalty up to 5 million EUR).

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Representation in proceedings to obtain a license to provide payment services as a national payment institution (NPI)

As part of our ongoing cooperation with a client, a small payment institution, providing payment services including issuing of credit cards and providing payment credit to consumers, we represent the client in the proceedings for obtaining a license to provide payment services as a national payment institution.

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