Several lawmakers in Monaco have introduced a bill recently approved that creates a legal foundation for blockchain data, including cryptocurrencies and smart contracts : http://www.conseil-national.mc/index.php/textes-et-lois/propositions-de-loi/item/600-237-proposition-de-loi-relative-a-la-blockchain. Monaco will become one of…
We have teamed-up with the Paris office of an American international law firm in a due diligence process regarding a European Private Bank and its Monaco subsidiary. We prepared a…
We successfully assisted a foreign insurer of commercial and industrial risks to extend its insurance activities in the Principality of Monaco. Such extension requires a prior approval from the Monaco…
We provided legal advice to a major Private Banking Group in connection with the organisation of business relationships with Monaco-based external asset managers (EAM) and external financial advisers. Such relationships…
We recently assisted lenders in several financing transactions regarding the purchase of cruise ships and tankers. This required close scrutiny of payment mechanisms, releases and registering security in Monaco, such…
A bill proposal creating a new Monegasque Anti-Corruption Agency (“Agence Monégasque Anti-Corruption”) is currently under discussion. This Agency – in addition to SICCFIN – would have a preventive role in…
Under the EU Delegated Regulation 2016/2251 dated 4 October 2016 on risk-mitigation measures for OTC non-cleared derivatives, counterparties are required to collect Initial Margin (IM – to cover potential future…
The Government of Monaco has published a Practical Guide for financial institutions and self-certification models that can now be used by Monaco banks for new clients and high value clients….
Monaco is actively involved in environmental preservation and in efforts in relation to Climate Change, as a signatory to the Paris Agreement. In order to curb carbon emissions, Monaco has…
We assisted a major Monaco Private Bank in the sale of its activities in Monaco through a Referral Agreement as part of its strategy to simplify and restructure its Private…
