In a landscape shaped by rapid digitalization and continuous regulatory changes, financial institutions must adapt to meet the dynamic needs of both customers and regulators. We assist these institutions by helping them refine their business models to efficiently respond to changes, reducing compliance burdens and enhancing their regulatory strategies. Our expertise includes enhancing regulatory compliance programs and providing targeted advice on complex regulatory investigations and inquiries.
We have worked with leading global banks, insurance companies, fintech firms, and other market participants across a wide range of financial regulatory issues. Our work covers financial services, financial instruments, and products, including specialised instruments such as Solvency II approved financial instruments and insurance-linked securities, and licensing, disclosure, marketing rules, and corporate governance. We also handle regulatory aspects of mergers and acquisitions, drawing on our experience of significant transactions.
With our deep knowledge of multi-jurisdictional financial transactions and the local regulatory landscape, we are well prepared to help our clients navigate the complex regulatory challenges they face.
Regulatory Investigations and Enquiries / Litigation
We represent financial institutions in regulatory proceedings at both the operational and litigation levels, dealing with national and European regulators. Our expertise spans national commercial, administrative, and constitutional courts, and the European Court of Justice and Board of Appeals. Additionally, we manage significant regulatory events such as changes of control and shifts in qualifying holdings.
Regulatory Capital Requirements
Our firm advises regulated financial institutions on meeting and managing their regulatory capital requirements. This includes issuing multiple Solvency II approved financial instruments, such as subordinated convertible bonds listed on the Vienna Stock Exchange. We provide strategic advice tailored to ensure compliance and optimise financial structuring under the current regulatory frameworks.
Compliance Programs and Reviews
Our team develops and refines compliance strategies for financial instruments and products on a multinational level, advising on complex cross-border insurance-linked securities structures and reinsurance schemes involving consortia of leading global reinsurers. We also perform thorough reviews of compliance concerning consumer regulatory requirements.
Fintech
We provide strategic consulting for fintech companies, covering customer portfolio transactions and innovative services related to regulatory risks in financial services. Our expertise supports fintech innovation within compliant regulatory frameworks.
Sector Highlights
NOVIS as key transaction counsel for subordinated convertible Solvency II Tier 2 Bonds listed on the Vienna Stock Exchange, a pioneering project in Slovakia that issued bonds constituting Tier 2 Own Funds under Solvency II rules post-2016
Citigroup on Slovak regulatory aspects of standardizing offer documents and structured securities offerings under Citigroup’s USD 60,000,000,000 Global Medium Term Note Programme
NOVIS on strategic and regulatory issues in the insurance and financial markets, including multinational enquiry proceedings and interactions with EIOPA and national regulators. We managed legal counsels and coordinated national filings across multiple jurisdictions, and developed business strategies in partnership with co-counsels from leading firms in Germany and Spain
GGFS (part of Grafobal Group), a Slovak fintech company in selling its customer portfolio for employee benefits systems to the Up Group, a global French-based provider
TWISTO on Payment Services Directive (PSD2) licensing and other requirements related to provision of consumer credits
NOVIS as key transaction counsel for EUR 100 mil. insurance-linked securities financing arrangements to substitute and supplement standard reinsurance scheme for insurance products offered in multiple jurisdictions
Amico Finance on an innovative outsourcing service related to insurance and potential regulatory risks associated with financial services regulation
International insurance company on multiple customer-related regulatory issues, including Key Information Documents, pre-contractual assessments, internal funds of insurance companies, disclosure documents, and equal treatment across jurisdictions, involving interactions with the national regulator
Private investor in Payout, a fintech company, on increasing their investment and updating shareholder arrangements to support further expansion of the company.
