Non-Banking Financial Activities
The firm provides an integrated system of specialized legal services for all non-banking finance activities.
These activities include: mortgage finance – financial leasing and factoring – consumer finance – microfinance.
Our services are based on extensive practical experience in dealing with the Financial Regulatory Authority, ensuring that these activities are established, operated and developed within a sound legal and regulatory framework.
Company incorporation and licensing
- Incorporating non-banking finance companies of all types and obtaining approvals and licenses from the Financial Regulatory Authority.
- Following up on registration procedures and regularizing the legal and regulatory status of existing entities.
- Implementing legal amendments such as capital increases, changes to legal structures, and approval of articles of association.
Governance and restructuring
- Reconstituting boards of directors and specialized committees (audit – risk – governance).
- Preparing governance regulations, internal policies and operational procedure manuals.
- Reviewing compliance with governance, disclosure and client protection rules.
- Attending board meetings and general assemblies in an advisory capacity and having their minutes approved by the competent authorities.
Contracts and agreements
- Our scope of work includes drafting and reviewing all contracts related to non-banking finance activities, such as:
- Mortgage finance contracts.
- Financial leasing and factoring contracts.
- Consumer finance and microfinance contracts.
- Mortgage, security and assignment contracts.
- Purchase option and sale-and-leaseback contracts.
- Cooperation agreements with merchants and electronic platforms.
- Contracts with collection companies.
- Ensuring contracts comply with the instructions of the Financial Regulatory Authority, protecting companies’ rights and reducing legal risks.
Compliance and internal control
- Preparing and reviewing financing policies, creditworthiness assessment and risk management.
- Preparing and reviewing client protection manuals and complaints policies.
- Reviewing periodic reports before they are submitted to the Authority, and preparing legal responses to inspection findings or client complaints.
- Supporting companies in building effective internal control systems that comply with regulatory requirements.
Legal representation and disputes
- Representing companies before the Financial Regulatory Authority and judicial and regulatory bodies.
- Managing disputes relating to finance, mortgage, leasing or factoring contracts, or commercial partnerships.
- Taking the legal action necessary to protect companies’ rights and maintain the stability of finance portfolios.
Advanced services
- Restructuring finance portfolios.
- Legal supervision of mergers, acquisitions and partial or full exits.
- Managing the procedures for suspending activity or liquidating companies in accordance with the legal and regulatory framework.
Ongoing legal advice
- Following up on all legal, regulatory and contractual aspects.
- Strengthening institutional compliance and ensuring safe expansion within the non-banking finance market.
Our Services
- Capital Market
- Non-Banking Financial Activities
- Banking, Payment Services and Financial Technology
- Insurance and Reinsurance
- Corporate and Investment
- Competition Protection and Economic Concentrations
- Consumer Protection and Consumer Dispute Resolution
- Small, Medium and Micro Enterprises
- Intellectual Property and Trademarks
- Contracts, Internal Regulations and Corporate Systems
- Litigation and Arbitration in Economic Disputes
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FAQ
Frequently asked questions
What are non-banking financial activities?
They are financial activities supervised by the Financial Regulatory Authority rather than the Central Bank, including financial leasing, factoring, consumer finance, microfinance, mortgage finance, insurance and the capital market.
Does a consumer finance or leasing company need a licence?
Yes. These activities require an FRA licence under the laws that govern them, including Law No. 176 of 2018 on financial leasing and factoring and Law No. 18 of 2020 on consumer finance. We prepare the licence file and liaise with the FRA until approval.
What services do you offer to existing finance companies?
We draft and review finance agreements and customer documents, run compliance programmes for regulatory decisions, represent companies before the FRA in notifications and inspections, and handle collection disputes and related litigation.
Can one company carry out more than one finance activity?
It depends on the activities and on the rules the FRA sets for each one; some require a separate company or additional conditions. We recommend studying the right structure before incorporation, which we can do in a dedicated consultation.
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These answers are general information and do not replace legal advice on your specific case.
