24/7

Interlegal lawyers consulted the client upon regulating PEP (politically exposed person) status in Ukraine

15 сентября : ru 13 en 117 сентября : ru 2 20 сентября : ru 2 всего: 30 15.09.21

A client applied to Interlegal on drafting legal opinion for foreign agents in the framework of compliance procedures.

Today, we face compliance procedures not only when operating with banks, but also when interacting with agents. Agency is regulated, inter alia, by the EU Anti-Money Laundering Directive and Directive on Administrative Cooperation (DAC 6).

The task was to provide legal opinion in the framework of Ukrainian legislation to determine its status: PEP or non-PEP.

While drafting legal opinion, provisions of the relevant Law on Financial Monitoring, clarifications of the National Bank of Ukraine, as well as Methodological Recommendations for detection and identification of public figures and securing their financial transactions were taken into account.

Despite the fact that the current Law on Financial Monitoring was adopted as fulfillment of Ukraine's obligations to adapt legislation to European standards, in particular, EU Directive 2015/849 (4th Anti-Money Laundering Directive, 4AMLD), there are some discrepancies in its wording.

Such a difference in terms and their interpretation causes a conflict in determining status of the person within international legal relations.

Legal opinion facilitated a substantiated position regarding the client’s status in accordance with the Ukrainian legislation.

The Ukrainian lawyers’ legal position in the form of legal opinion in the process of compliance enables agents to complete successfully due diligence and facilitates the client’s cooperation with the company.

 

  • Cancelling arrest of goods at the maritime terminal2021.10.13

    Cancelling arrest of goods at the maritime terminal A large international grain trade applied to Interlegal, due to arrest imposed on its...

    show more
  • Updated BIMCO contracts for towage and barge hire2021.10.07

    Updated BIMCO contracts for towage and barge hire The Baltic and International Maritime Council (BIMCO) recently published new editions o...

    show more
  • Interlegal lawyers settled the dispute in the amount exceeding 1 million USD upon unpaid bunker supply2021.09.27

    Interlegal lawyers settled the dispute in the amount exceeding 1 million USD upon unpaid bunker supply Prompt, professional, in complianc...

    show more
  • Interlegal lawyers consulted the client upon currency control2021.09.20

    A large Ukrainian exporter applied to Interlegal upon the option to avoid violation of deadlines upon export operations. As per the Client’s...

    show more
  • Interlegal lawyers consulted the client upon regulating PEP (politically exposed person) status in Ukraine2021.09.15

    A client applied to Interlegal on drafting legal opinion for foreign agents in the framework of compliance procedures. Today, we face com...

    show more
  • Interlegal defended the European large insurer’s rights at the court2021.09.10

      The client, large German insurance company, applied to Interlegal for recovery of reimbursed amount paid to the injured person....

    show more
  • Interlegal saved 85,000 USD for the Client2021.09.06

      Switzerland is famous for its ski resorts, reputable banks and precise watches. However, we hardly know that in Switzerland there...

    show more
  • Interlegal facilitated damage reimbursement in favor of shipowner, due to vessel collision2021.09.03

    Interlegal facilitated damage reimbursement in favor of shipowner, due to vessel collision This spring, two vessels collided in Constanta...

    show more
  • Interlegal lawyers won the dispute at the stage of defining arbitration jurisdiction2021.08.31

    A large shipping company applied to Interlegal regarding London Maritime Arbitrators’ Association (LMAA) arbitration proceedings agains...

    show more
  • Interlegal lawyers supported closing the deal upon tanker sale & purchase in Athens, Greece2021.08.31

    Interlegal lawyers supported closing the deal upon tanker sale & purchase in Athens, Greece Interlegal lawyers successfully supported...

    show more