Five Pacific Alliance law firms specialising in the fintech industry have launched a referral network to coordinate cross-border advice to clients from the sector.
FINTLEX is formed by Mexican firms Albanesi Tech Legal Consulting and C&RS; Apparcel, Uriarte & Vasallo in Chile; Acumen Legal in Colombia and Peru’s Vodanovic Legal. The firms announced the network at the Lima Fintech Forum, which took place on 8 May.
Members have agreed to refer work to other members if one of their clients seeks legal advice in the trade bloc. Ljubica Vodanovic, founder of Vodanovic Legal and FINTLEX’s first president, says the five firms launched the network in response to client demand for counsel from the Pacific Alliance states. “These countries are quite similar in terms of markets, policies, principles and regulation,” she says. “It was common to see a fintech company starting operations in Mexico, and then wanting to expand its business to Peru or to Chile.”
Vodanovic believes the firms can provide more efficient and specialised legal services through a network than if they work on an individual basis.
Additional firms could join the network in the future. “We are aware of the growing fintech industry in the Pacific Alliance countries, so we’re open to have more than one ally per country, if necessary,” she says, pointing to the two firms FINTLEX already has in Mexico.
The president position will rotate among member firms every two years.
At the same event in Lima, representatives of the Peruvian government said it is preparing to present a law on how to regulate crowdfunding in Peru.
Similar referral systems already exist between other Pacific Alliance law firms. Mexico’s Malpica, Iturbe, Buj y Paredes, SC; Ovalle, Ossa, Gazzana & Bulnes Abogados in Chile; Suescún Abogados in Colombia and Peru’s Reggiardo & Grau Abogados formed a preferential, non-exclusive referral and co-litigation network in 2016.
Fredrik Karlsson 07 June 2019
Practice area: Banking & finance, Data, technology and privacy law
Country: Chile, Colombia, Mexico, Peru
Industry: Banking and Financial Services, Information Technology
Publicación original www.latinlawyer.com