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Kinstellar announces new promotions to Partner and Counsel
Kinstellar is delighted and proud to announce the promotions to Partner of Tomáš Melišek (Bratislava), Levente Hegedűs (Budapest), Bulut Girgin (Istanbul), Anastasiya Bolkhovitinova, Natalia Kirichenko, Oleg Matiusha, Illya Muchnyk (all in our Kyiv office), and to Counsel of Dominika Bajzáthová (Bratislava). PARTNERS Tomá š Melišek, Bratislava Tomáš is the Head of the local Banking & Finance service line. He has 15 years of experience in banking and finance, focusing on project and acquisition financing as well as on financial regulations. Tomáš has substantial experience advising clients on significant financing transactions in the areas of real estate, energy, infrastructure, automotive, media
Kinstellar announces new promotions in Bucharest, Romania
Kinstellar is delighted to announce the promotion to Managing Associate of Mădălina Perțe (Corporate M&A), Andrei Covaliu (Dispute Resolution) and Răzvan Constantinescu (Banking and Finance), and to Senior Associate of Raluca Constantin (Dispute Resolution). These promotions come as a recognition of their contribution to our office’s recent development and their commitment to delivering exceptional value to our clients. Mădălina Perțe specializes in Corporate / M&A matters where she has dealt with various assignments. She has also been involved in multiple due diligence exercises and regularly advises companies on daily housekeeping matters. Mădălina’s expertise extends to capital
The Law on Payment Services: Overview of rules for Ukrainian payment services market
The Law of Ukraine "On Payment Services" creating a new legal landscape for the provision of payment services in Ukraine, came into force on 1 August 2022. At the same time, certain provisions of the law, which mostly relate to open banking, will become effective in 2025. Click on one of the images below to read the whole overview of the main provisions of the law, or click use the following links to read in English or in Ukrainian. Download in English: Download in Ukrainian:
The problem with Dynamic Currency Conversion (DCC)
If a German tourist withdraws cash from an ATM in Prague, the ATM screen may display a choice whether the tourist’s euro account should be charged in the currency of their account (i.e., euro), or in the local currency – Czech koruna. If the tourist chooses the former, they opt for the so-called Dynamic Currency Conversion (DCC) service. DCC is a service enabling instant currency conversions for card-based transactions. DCC was introduced in 1996 to allow cardholders to pay in their home currency when making payments in foreign currencies. This can be either an ATM withdrawal or a card payment at a point-of-sale (POS) terminal in a foreign country. By using the DCC service, the amount of the transaction in the local
Open Banking in Europe in Light of PSD2 Review
Open banking is changing the way people use banking services in the modern world. Europe prides itself on being the cradle of the open banking revolution, with the EU’s Payment Services Directive[1] (PSD2) being one of the first regulatory initiatives to open up bank-held account data. PSD2 has been in force now for more than four years and has already reshaped the European payments sector. The ongoing review of PSD2 brings an opportunity to assess the current status of open banking in Europe as well as the impact of the directive on the sector. Open banking is the practice of enabling secure interoperability in the banking industry by allowing third-party providers (TPPs) to access payment transactions and other data