A boutique law firm specialising in regulatory matters in the areas of derivatives, banking, and capital markets.

I know every type of documentation for derivatives transactions available on the market. I am the author or co-author of successive Polish Bank Association (ZBP) documentation templates, including the 2003 Master Agreement, the 2011 Master Agreement, the 2017 Collateral Agreement and the 2018 Initial Margin Agreement. I have unrivalled experience on the Polish market in negotiating ISDA documentation, including for hedging transactions related to the financing of all types of assets.

I advise on both OTC (over-the-counter) transactions and transactions concluded on regulated markets, across all asset classes (interest rates, currencies, securities, commodities, energy, emission allowances, credit risk). I carry out legal and regulatory analyses concerning, among others, the requirements of EMIR, CRR and BRRD, the implementation of MiFID, and the benchmark reform.

I prepare legal opinions on the enforceability of netting in respect of derivatives transactions and collateral. I conduct audits of banks' documentation and internal regulations, and prepare opinions and reports on the compliance of documentation provisions with regulatory requirements. I have the most extensive experience on the market in preparing legal opinions on whether documentation meets the requirements of the CRR, so that it is recognised by the Polish Financial Supervision Authority (KNF) and exposures from derivatives transactions can be calculated on a net basis.

I advise on transactions subject to clearing at European clearing houses, including in connection with clearing documentation and the CRR requirements on own funds for such transactions.

I support clients in analysing whether derivatives collateral documentation complies with EMIR and Regulation 2016/2251. I negotiate documentation for variation margin (including the collateral agreement and the ISDA Credit Support Annex for Variation Margin (VM)) and for initial margin (including the initial margin agreement, the ISDA Euroclear/Clearstream Collateral Transfer Agreement and the ISDA Euroclear/Clearstream Security Agreement).

I advise on repo and buy-sell back transactions and on Global Master Repurchase Agreement documentation. I am the author of the legal opinion for the Polish market, prepared for the International Capital Market Association, on the enforceability of netting of repo and buy-sell back transactions.

I deliver training on derivatives as well as dedicated workshops on negotiating derivatives documentation for banks, financial institutions and corporate clients.