My institution is a licensed branch of a non-SEPA country institution and would like to adhere to a Scheme. I understand that I cannot use a standard pro-forma Legal Opinion. Which document(s) do I need to submit instead?

For licensed branches of a non-SEPA country institution, the Applicant shall provide two Legal Opinions as follows:

(1) The Legal Opinion 1 (Branch State) is signed by a legal counsel of a SEPA country where the participating branch is licensed. This Legal Opinion shall follow the pro-forma provided in Annexes A-4, B-4, C-4 or D-4 of this Guide, depending on the relevant Scheme. Before submitting the Adherence Pack, the Applicant shall specifically ensure that opinion 1 of the pro-forma, confirming that the branch is duly authorised or licensed by a relevant authority, has been duly completed. Only authorised or licensed branches can apply for Scheme adherence.

(2) The Legal Opinion 2 (Home State) is signed by the legal counsel of the home state of a licensed branch (i.e. country of incorporation of the PSP), and, covers the laws of that country. Depending on the relevant Scheme, this document should follow the pro-forma provided in Annexes A-4, B-4, C-4 or D-4 of this Guide.