OPERATOR OF PAYMENT SYSTEM

Recovery plan

We advised the payment system provider on the following project:

DEVELOPMENT OF RECOVERY PLAN FOR THE PAYMENT SYSTEM OPERATOR

  • Regulations in the financial market require that a number of entities – including banks, brokerage houses, and payment system operators – develop a recovery plan.
  • The recovery plan outlines the actions the financial institution should take to improve its financial condition in the event of a significant deterioration. Depending on the specificity of the institution, the requirements for the recovery plan are shaped by certain laws, EU regulations, and guidelines from regulators and other institutions. In each case, the recovery plan should include an analysis of the risks to which the institution is exposed, identification of the recovery options available, and determination of the indicators that make it necessary to start the recovery process.
  • Properly designing the recovery plan enables the institution to take the inventory of available options for improving its financial condition, detect any signs of deterioration in a timely manner as well as quickly and efficiently implement optimum recovery options.

The advisory services of DLK Legal with respect to such projects mostly include:

  • development of a recovery plan for the financial institution
  • assistance in the operationalization of the recovery plan by the financial institution
  • dialog with the supervision authority

Lawyers involved in the project:

Szymon Zych
attorney-at-law, partner Szymon Zych

Banking & Fintech

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Banking & Finance

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PIS and AIS services under the AML rulgulations

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Ogrodowa City Gate
ul. Ogrodowa 58
00-876 Warsaw

map > +48 22 652 26 18

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ul. Jana Kilińskiego 2
30-308 Cracow

map > +48 12 31 51 841