Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors.
Understanding financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
Financial law forms a substantial portion of commercial law, and notably a substantial proportion of the global economy, and legal billables are dependent on sound and clear legal policy pertaining to financial transactions.
In Montenegro, formation, management, operations and supervision of financial organizations: banks and micro-credit financial institutions and credit unions, and supervision of operations of parties involved in credit and guarantee operations are regulated with the Banking Law.
Process of formation of financial organization in in Montenegro is controlled by the Central bank of Montenegro (the CBoM), and can be observed throughout the following phases:
- Obtaining of a banking license, by means of participating in the administrative proceeding before the CBoM.
- Incorporation and registration of the bank, by means of creation of the legal entity in a form of a joint stock company.
- Corporate governance setting up, by means of creation of a legal environment for lawful start of the business operations.
- Business operations start-up, by means of performing of inland and international payments, accepting of deposits, extending of loans etc.
- Risk management system creation, by means of designing of documentary infrastructure, implementation of regulations, measuring of respective risks etc.
For more on incorporation of banks in Montenegro, please visit https://montenegrobankformation.com.
In addition to bank incorporation and takeovers, we provide services to financial organization with respect to:
- Due diligence.
- Creation of financial contracts.
- Extrajudicial sale of the property.
- Collection of loans via civil proceedings.
- Legal management of claims related to the distressed assets.
- Factoring, leasing advisory.
- Risk management advisory.
- KYC/AML risk advisory etc.
Important services of economic forensic, forensic accounting and fraud detection and prevention are provided by the outsourced partner.
Eventually, we provide services of registration of investment funds and companies, securities brokers and dealers etc.