Legal Opinions and Reliance Letters

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FIN LAW offers the drafting of legal opinions and reliance letters to the highest professional standards as a service to banks, financial service providers, businesses, authorities and liquidators. Subject of the offer are matters regarding private or supervisory law. The need for legal assessments can arise for a multitude of reasons such as a legal obligation by an authority, the demand of a business partner or to secure important business decisions and to support arguments in decision making processes.

Necessity of a legal Opinion according to the Mastercard Statutes

As of 16 April 2018 MasterCard extended their Business Risk Assessment and Mitigation Program (BRAM) to include providers of Virtual Currencies (so called Cryptocurrency Merchants). Since then, banks which process credit card payments for those providers are obligated to supply MasterCard with a legal opinion drafted by a renowned law firm for every jurisdiction in which the Cryptocurrency Merchant actively or passively conducts business. The legal opinion provided has to state which laws and regulations are applicable to the credit card provider as well as to the credit card holder. Furthermore, it has to state that the credit card provider as well as the holder are acting in accordance to these laws and regulations. FIN LAW offers banks that act as acquirer for MasterCard the drafting of aforementioned legal opinions. Comparable legal opinions are also required in the cases of High-Risk Securities Merchants if the acquirer wants to process credit card payments through the MasterCard network. This applies to providers of binary options, contracts for difference (CFDs), foreign exchange currency options (Forex), crypto currency options and initial coin offerings (ICOs). FIN LAW is, due to its focus on the regulation of virtual currencies and innovative financial instruments, the best provider of these necessary and critical legal opinions.