Lithuania's ADON Legal has advised Protean Risk Limited, a registered broker at Lloyds, on the adaptation of a PSD Bond to Lithuanian law and its coordination with the Bank of Lithuania.
The PSD Bond is an insurance product for the safeguarding of clients’ funds of electronic money institutions and payment institutions.
“We consider the introduction of the PSD Bond to be an important development for Lithuanian EMIs and PIs giving additional means to meeting the regulatory expectations and optimization of the use of own capital,” ADON Adon Legal Founding Partner Donatas Sliora, who led the firm's team on the deal.
