Aequo assessed the Deposit Guarantee Fund’s (DGF) capabilities and bank resolution procedures from a legal perspective and prepared recommendations for the improvement of existing regulatory framework and brought it in line with best European and US practices.
The suggested amendments were intended to strengthen the Ukrainian deposit insurance system and to enable the DGF to efficiently handle any challenges caused by a financial crisis and economic downturn in Ukraine, as well as numerous bank failures. A substantial part of the recommendations proposed within the course of the project had already been reflected in the new version of the Law of Ukraine ‘On Household Deposit Guarantee System’, enacted by the Ukrainian Parliament in July 2015.
Aequo acted as a member of an advisory consortium that consisted of Lazard Freres, the world’s leading independent financial advisory and asset management firm, and Investment Capital Ukraine, one of the leading investment banks in Ukraine - all working in close co-operation with international donors and international financial organisations, such as EBRD, the US Treasury and the World Bank.
This project was ranked as one of the most innovative projects in Europe by the Financial Times Innovative Lawyers 2015 because of its contribution to the stabilisation of Ukraine’s financial sector at a time of tremendous challenge.