Service

Registration of public sector partners, Whistleblowing, AML

We have long focused and specialized in providing legal services to public sector partners within the meaning of Act No. 315/2016 Coll. on the Register of Public Sector Partners and on Amendments to Certain Acts (hereinafter also referred to as the "Act on the Register of Public Sector Partners") and legal advice on the fulfillment of obligations of natural and legal persons arising from Act No. 297/2008 Coll. on the protection against the legalization of proceeds from criminal activity and on the protection against the financing of terrorism and on amendments to certain acts (hereinafter referred to as the "AML Act"). Slovak legislation in this area reflects the legislation adopted at the European Union level applicable to all member states. The most important source of law in this area is Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015, known as the IV. AML Directive, with the issue also being further regulated by Regulation (EU) 2015/847 of the European Parliament and of the Council (EU) 2015/847 of 20 May 2015 on information accompanying transfers of funds and Commission Delegated Regulation (EU) 2016/1675 of 14 July 2016, which supplements the IV. IV. The sources of law in the area of combating money laundering in the Slovak Republic are primarily the above-mentioned AML Act, the Act on the Register of Public Sector Partners, and the current Act No. 52/2018 Coll., which amends and supplements the AML Act and amends and supplements certain other acts. A common aspect in this area of law, which is related to both of the above-mentioned acts and which we can simply refer to as the fight against money laundering and protection against terrorist financing, is, among other things, the correct identification of the ultimate beneficial owner of the relevant entity. We provide our clients with comprehensive legal services in this area in both Slovak and English, at a high level of quality and with many years of experience.

For public sector partners, we provide legal services consisting primarily of assessing the legal obligation to register in the public sector partner register, performing the activities of an authorized person, monitoring legislative changes in relation to the register of public sector partners, submitting proposals for registration, changes or objections in the event of refusal of registration in the register of public sector partners, and regularly verifying or authenticating the end users of the benefits of the public sector partner, even beyond the scope of the Act on the Register of Public Sector Partners. Our law firm was one of the first authorized entities in the Slovak Republic to provide legal services to public sector partners. The expertise and reliability of our law firm's legal services in this area is confirmed by more than 500 clients - public sector partners registered to date in the public sector partner register, for whom we also provide long-term authorized person activities and legal advice within the meaning of the Act on the Public Sector Partner Register.

We also have experience with proceedings initiated at the registry court on the basis of a qualified motion, in which the decision was made in favor of the client. As part of providing other legal services in the above-mentioned area, we specialize in particular in the development of a Program of Own Activities focused on the protection against the legalization of proceeds from criminal activity and the protection against the financing of terrorism (hereinafter referred to as the "Program of Own Activities") for each individual client, with the necessary annexes to comply with the ratio and purpose of the law. When drafting the Internal Program, our law firm proceeds in accordance with the wording of the AML Act, as well as the methodological guidelines and recommendations of the Ministry of the Interior of the Slovak Republic and the relevant supervisory authorities. We create a tailor-made Self-Assessment Program for each client, which means that we precisely adapt the list of unusual business transactions that may occur in the client's business activities according to the subject of their business and sphere of activity. In addition to preparing all client documentation, we also inform clients about related obligations, such as record keeping or employee training. We monitor amendments to the relevant legislation and thus provide clients with high-quality and highly knowledgeable services based on many years of professional experience in the field. The preparation of comprehensive documentation by our law firm ensures that the Program of Own Activities is correct, legally perfect, and prepared by professionals in accordance with legal requirements. Failure to prepare or incorrect preparation of the Program of Own Activities may result in sanctions by the relevant supervisory authorities in accordance with the law.

The expertise and reliability of our legal services in this area is confirmed by the fact that to date, our law firm has prepared more than 50 Own Activity Programs for companies and sole proprietors with various business activities. From the employer's perspective in this area, it is necessary to draw attention to the institution of whistleblowing, which is when an employee reports to a responsible person that the employer's company is engaging in activities that are illegal, contrary to the public interest, and can generally be described as unethical and unacceptable. Whistleblowing also represents a way for employers to receive and address these reports of anti-social activity through a responsible person. As a whistleblower, the employee is a protected person who cannot be held liable for reporting inappropriate activity. Whistleblowing is the reporting of unusual business transactions within the meaning of the Self-Activity Program that we prepare for our clients. We address this issue on the website www.partnerverejnosektora.sk, where you can find more information.

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