Banking and Finance

Tocheva & Mandazhieva Law Office offers recognised leadership in the sphere of Bulgarian banking and finance. We assist all types of financial companies and provide full financial service coverage to an array of local and international clients. We stand out for our high quality output, innovative approach and flexible legal solutions. Members of our team are well experienced in the licensing of non-banking financial institutions, including investment firms, payments institutions and e-money issuers.

We are routinely approached for advice by the professional associations of banking and non-banking financial institutions and have a well-established working relationship with the Bulgarian National Bank and the Financial Supervision Commission. We are often requested to comment on behalf of the industry players on the transposition of new EU directives into national law, with examples like MiFID I&II, MiFIR, the UCITs legislation, the PSD directives, the AML directives, etc. Some of the team members are among the very few lawyers in Bulgaria experienced in advising on the legal framework of OTC derivatives; trading on margin; third party financial collateral agreements; and trading in CFD over currency pairs.

We prepare documentation covering the complete range of transactions with financial instruments in Bulgaria (general terms and conditions of investment firms and managing companies, master agreements for trading in OTC derivative instruments, White Label Partnership Agreements, Introducing Broker agreements, brokerage and asset management agreements, orders and confirmations for securities transactions, all relevant disclosures and declarations required by law, as well as financial collateral agreements).

We offer full service to non-banking financial institutions, investment firms, payments institutions and e-money issuers: from incorporation, licensing and registration to representation before all competent authorities. We advise local and international creditors and borrowers in project finance transactions as well as in pure lending deals.

We draft tailor-made documentation and we calibrate clients’ policies precisely to new regulatory changes in the financial sector. We deliver training seminars for employees on the client's premises, aiming to implement the new regulatory changes in a smooth, organised and relaxed way.

Banks, insurance companies and other financial institutions frequently call upon us to help them develop new products based on financial instruments, to coordinate complex local and international transactions, or to advise on future opportunities and challenges.

We are recognised for our experience in:

● regulatory frameworks
● acquisition finance
● syndicated loans
● loan and security arrangements
● financial restructuring