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CMS Helps MoneyGram Register as Operator of Foreign Payment Systems in Russia

CMS Helps MoneyGram Register as Operator of Foreign Payment Systems in Russia

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CMS has helped money transfer provider MoneyGram register as an operator of a foreign payment system with the Central Bank of the Russian Federation.

According to CMS, "in 2019 the Russian Duma passed a law introducing registration and regulatory requirements for foreign payment systems operators acting in Russia.  To comply with the new requirements, foreign payment systems operators have to open representative offices in Russia and report their operations to the CBR. MoneyGram became the first foreign payment system registered by the CBR in April 2020."

CMS's team was led by Partner Konstantin Baranov and included Associates Darya Lukoyanova, Alexander Zhuravkov, Elizaveta Volkodav, Irina Skvortsova, Elizaveta Rakova, and Ophelia Amirova.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

 

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