Bech-Bruun samarbejde

Regulatoriske forhold spiller en stor rolle, når finansielle virksomheder ønsker at etablere sig eller at udbyde tjenester og produkter i Danmark. Kun regulerede virksomheder, som fx banker, fondsmæglerselskaber, forsikringsselskaber og forsikringsformidlere, må udbyde finansielle tjenesteydelser, herunder investeringsservicetjenester, i Danmark.

Derudover er markedsføring og udbud af værdipapirer underlagt regulering, ligesom både direkte og indirekte markedsføring af visse andele i kollektive investeringsordninger, fx investeringsforeninger (UCITS) og alternative investeringsfonde (AIF), kræver registrering hos Finanstilsynet. Overtrædelse af lovgivningskravene kan medføre "naming and shaming", bødestraf og inddragelse af virksomhedens tilladelse eller godkendelse.

Hvordan kan vi hjælpe?
Vi er specialiseret i de regulatoriske forhold gældende for finansielle virksomheder. Vi rådgiver både danske og udenlandske finansielle virksomheder, herunder danske og internationale banker, fondsmæglerselskaber, investeringsrådgivere, kollektive investeringsordninger og deres managers, markedspladser, forsikringsselskaber , forsikringsformidlere og værdipapircentraler.

Vi rådgiver blandt andet om:

  • Etablering af nye finansielle virksomheder, forsikringsformidlere og investeringsrådgivere, herunder ansøgning om tilladelser
  • Filialetablering og registrering af udenlandske fondsmæglere, forsikringsselskaber og forsikringsformidlere
  • Investeringsservice-aktiviteter
  • Direkte og indirekte markedsføring af kollektive investeringsordninger (UCITS/FAIF), herunder registrering i Danmark
  • Regulering af værdipapirhandelsaktiviteter, herunder god skik og MiFID-regler 
  • Forsikringsprodukter og distributionskanaler, herunder god skik og forsikringsaftaleret
  • Hvidvask og terrorfinansiering
  • Betalingstjenester
  • FinTech
  • CSD’er.

Vi har indgående kendskab til både lovgivning og praksis og har mange års erfaring og gode samarbejdsrelationer med Finanstilsynet og andre myndigheder.

For at sikre jer den bedste rådgivning samarbejder vi, når der er behov for det, med specialister inden for fx Forsikring, Finansiering, Kapitalmarked, M&A & Selskabsforhold, Skat, Compliance og Persondata.

Regulatoriske forhold

Banking & Finance

What the team is known for
Highly regarded finance team acting on behalf of domestic and international banks, private equity houses and large corporations on all aspects of acquisition finance, including leveraged finance transactions. Recognised for its financing expertise in the energy and real estate sector. Other areas of specialism include asset finance, high-yield bond work and regulatory matters. Also frequently instructed on restructuring and refinance mandates. Has experience of debt capital market transactions.

Strengths
One client says: "They are always accessible and flexible, they have a high level of knowledge from a technical perspective and they have a good ability to understand what we want commercially."

Other sources appreciate the lawyers' "timeliness and accuracy of advice."

Work highlights
Advised HSBC and other arrangers on Danish law matters connected with financing Ineos's acquisition of DONG E&P.

Notable practitioners
Head of department Morten Krogsgaard  is praised for "his high level of knowledge and experience and his good understanding of the market." He handles a whole host of loan agreements and finance transactions. He advised Nordea on the financing of CataCaps' acquisition of TP Aerospace.

Thomas Thordal Sevelsted enters the rankings for the first time on the back of strong market endorsements, with one source saying he is "very focused and has a good commercial approach." He has a broad practice, handling real estate, project and aviation finance, as well as restructuring mandates.

Chambers and Partners Europe, Banking and Finance

 

Capital Markets

What the team is known for
Highly regarded finance team acting on behalf of domestic and international banks, private equity houses and large corporations on all aspects of acquisition finance, including leveraged finance transactions. Recognised for its financing expertise in the energy and real estate sector. Other areas of specialism include asset finance, high-yield bond work and regulatory matters. Also frequently instructed on restructuring and refinance mandates. Has experience of debt capital market transactions.

Strengths
One client says: "They are always accessible and flexible, they have a high level of knowledge from a technical perspective and they have a good ability to understand what we want commercially."

Other sources appreciate the lawyers' "timeliness and accuracy of advice."

Work highlights
Advised HSBC and other arrangers on Danish law matters connected with financing Ineos's acquisition of DONG E&P.

Notable practitioners
Head of department Morten Krogsgaard  is praised for "his high level of knowledge and experience and his good understanding of the market." He handles a whole host of loan agreements and finance transactions. He advised Nordea on the financing of CataCaps' acquisition of TP Aerospace.

Thomas Thordal Sevelsted enters the rankings for the first time on the back of strong market endorsements, with one source saying he is "very focused and has a good commercial approach." He has a broad practice, handling real estate, project and aviation finance, as well as restructuring mandates.

Chambers and Partners Europe, Banking and Finance

 

Banking & Finance

Head of department Morten Krogsgaard is praised for "his high level of knowledge and experience and his good understanding of the market." He handles a whole host of loan agreements and finance transactions. He advised Nordea on the financing of CataCaps' acquisition of TP Aerospace.

Thomas Thordal Sevelsted enters the rankings for the first time on the back of strong market endorsements, with one source saying he is "very focused and has a good commercial approach." He has a broad practice, handling real estate, project and aviation finance, as well as restructuring mandates.

Chambers and Partners Global, Banking & Finance

Capital Markets

Steen Jensen advises clients on ECM transactions, including passporting and takeovers. He recently assisted Exiqon with its DKK1 billion public-to-private takeover by Oncotec.

David Moalem provides regulatory advice on capital markets-related matters. He assisted Lundbeck with the implementation of a new capital markets compliance set-up in light of the new EU Market Abuse Regulation. Clients say: "He gives very practical advice which we can easily implement and he provides very good service."

Chambers and Partners Global, Capital Markets

Banking & Finance

"Bech-Bruun are very professional,” says one client. “They are always doing a solid, thorough job, reverting quickly back to us.” Another adds: “Excellent. They are solution-oriented and pragmatic."

 

The banking and finance team bolstered its ranks this year with addition of partner Steen Puch Holm-Larsen to the line-up. This helped boost the practice, which is especially known for its work in acquisition finance and bond financing.

 

One example of this saw the firm advising the Solix Group on the financing for its acquisition of the Cembrit Group. Led by partner Morten Krogsgaard, this work was especially notable as the deal was structured to be paid in three tranches. Krogsgaard was again the key partner involved when the team assisted Credit Suisse on the Danish aspects of the $50 million royalty bond issuance by Zealand. This was the first ever royalty bond issued by a Danish company and involved a non-dilutive and non-recourse bond financing backed by 86.5% of the future annual royalties - and other payments which the company is entitled to - on lixisenatide – a drug used to treat diabetes – as a stand-alone product under its license agreement with Sanofi.

IFLR 1000, Banking and finance

Capital Markets

That deal was demonstrative of a general improvement in the capital markets in Denmark this year, which the team at Bech-Bruun was able to capitalise on. Other examples saw (Morten) Krogsgaard take the lead in acting for the PWT Group on the Danish law issues relating to PWT Holding’s placement of a kr300 million (€40 million) high-yield bond on the Nasdaq OMX Stockholm and in assisting SAS on the Danish aspects of its kr1.6 billion (€169 million) issuance of convertible bonds.

 

(...)

 

“A very competent and always in-touch full service provider,” is the way one general counsel describes the capital markets practice.

Banking & Finance

Ranked: tier 1

Bech-Bruun runs the gamut of banking and finance work for a client roster including Danske Bank and Nordea Bank. Practice head Morten Krogsgaard specialises in international finance law; he recently assisted Advent International with the financing of its acquisition of Færch Plast and advised HSBC as local counsel on its financing of Ineos’ acquisition of Dong E&P. Thomas Thordal Sevelsted is also a key name to note; he recently acted for Strawberry Fields on a facilities agreement with lender Skandinaviska Enskilda Banken (SEB) for the purpose of refinancing properties in Denmark and Sweden.

Legal 500, Banking and Finance

Capital Markets

Ranked: tier 2

Bech-Bruun 'knows the local market well' and provides advice that is 'risk based rather than purely technical in nature' thanks to a 'very responsive and client-focused' practice. Morten Krogsgaard leads the team and is an expert in DCM work; Steen Jensen and David Moalem are also key names to note. In a recent highlight, Krogsgaard advised Nordea Bank on a bond issuance; Jensen also acted for the Ontario Teacher's Pension Plan on the sale of its stake in Copenhagen Airports to ATP and simultaneous purchase of Macquarie's stake, and Moalem assisted NTG with its $108m public tender offer for NeuroSearch.

Legal 500, Capital markets

BB

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