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
Bech-Brunn offers clients a strong finance team which frequently acts on behalf of domestic and international banks and large corporations on all aspects of acquisition finance. The firm is particularly recognised for its financing expertise in the energy and real estate sectors. Lawyers in the team are also instructed on refinancing mandates and offer further experience on debt capital market transactions, advising on the issuance of notes. The team is additionally well placed to handle loan transactions and sustainable finance matters.

Strengths
Clients highlight the team's securities expertise, describing an "excellent service and very positive impression."

Another source is quick to highlight the team's "extremely good knowledge and precision."

Work highlights
Assisted Danske Bank with its multicurrency revolving credit facility to Copenhagen Infrastructure Partners.

Notable practitioners
David Moalem is particularly recognised for his knowledge of regulatory issues. He has "extremely good knowledge and precision in his assessment and guidance on this difficult area of law," says one satisfied client.

Department head Morten Krogsgaard "has very good technical skills and is a pleasure to work with," enthuses one respondent. He handles debt restructuring, refinancing and acquisition financing mandates on behalf of both Danish and international clients.

Thomas Thordal Sevelsted represents clients in lending transactions, sale deals, financing and refinancings. Clients appreciate that he "is always available and offers quick turnarounds."

Chambers and Partners Europe 2022, Banking and Finance

Capital Markets

What the team is known for
Strong finance team acting on behalf of domestic and international banks, private equity houses and large corporations on all aspects of acquisition finance. Recognised for its financing expertise in the energy and real estate sectors. Also instructed on refinancing mandates. Has experience in debt capital markets transactions, advising on the issuance of notes and high-yield bonds.

Strengths
One client says the lawyers have a "lot of experience with complex financing agreements," adding that they are "very consistent" and "always deliver."
 
Another client enjoys the "high accessibility" of the lawyers, who "advise with a high degree of business understanding."
 
Work highlights
One client says the lawyers have a "lot of experience with complex financing agreements," adding that they are "very consistent" and "always deliver."
 
Notable practitioners
David Moalem is highly regarded for his expertise in securities law and financial regulation. He has particular experience in fintech matters. One client describes him as "probably the best lawyer in the Danish financial regulatory market."
 
Morten Krogsgaard handles a range of loans and facility agreements, including bridge facilities. He also has experience in the issuance of notes and bonds. He is particularly active on leveraged and acquisition finance mandates. One source notes that he is "very knowledgeable within the financing world and always has a good understanding of the market."
 
Thomas Thordal Sevelsted advises on acquisition and real estate finance, as well as asset finance in the shipping and aviation sectors. One client says he is "good at locating where the issues are and what needs to be focused on."
 
Chambers and Partners Europe, Banking and Finance

 

Banking & Finance

What the team is known for
Bech-Brunn offers clients a strong finance team which frequently acts on behalf of domestic and international banks and large corporations on all aspects of acquisition finance. The firm is particularly recognised for its financing expertise in the energy and real estate sectors. Lawyers in the team are also instructed on refinancing mandates and offer further experience on debt capital market transactions, advising on the issuance of notes. The team is additionally well placed to handle loan transactions and sustainable finance matters.

Notable practitioners
David Moalem is particularly recognised for his knowledge of regulatory issues. He has "extremely good knowledge and precision in his assessment and guidance on this difficult area of law," says one satisfied client.

Department head Morten Krogsgaard "has very good technical skills and is a pleasure to work with," enthuses one respondent. He handles debt restructuring, refinancing and acquisition financing mandates on behalf of both Danish and international clients.

Thomas Thordal Sevelsted represents clients in lending transactions, sale deals, financing and refinancings. Clients appreciate that "he is always available and offers quick turnarounds."

Chambers and Partners Global 2022, 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 is recognised for its strong M&A, projects and restructuring and insolvency teams. It also boasts of a very credible banking and capital markets offering.

The firm’s previously acquisition finance-focused banking practice has broadened in focus and now regularly acts on large asset financings, project financing and regulatory mandates. It often represents the borrowers and lenders on deals involving the aviation, manufacturing and real estate sectors.

Research period review (2021/2022)
In banking the firm was mainly active in acquisition finance for both borrowers and lenders advising notable clients primarily in the banking and financial services sectors. It also did work in energy finance as well as real estate finance.

Recent Deal Data highlights

  • Alm Brand €1.5 billion rights offering
  • Copenhagen Infrastructure Partners €850 million financing
  • CVC Capital Partners €2.5 billion acquisition of Star
  • Danfoss €2.5 million bond issue
  • Green Hydrogen Systems’ Nasdaq IPO
  • Lunar €210 million acquisition of Swedish Lendify
  • Welltec International $325 million 8.25% senior secured notes issue 


Client feedback
"The firm provides commercially sensible advice – and also is extremely good at setting the strategy for such cases. They are very responsive and always balance the legal implications with the commercial implications."

IFLR 1000, Banking and finance, 2022

Capital Markets

Bech-Bruun is recognised for its strong M&A, projects and restructuring and insolvency teams. It also boasts of a very credible banking and capital markets offering.

In capital markets the firm is particularly strong on the equity side, where it consistently acts on IPOs on Nasdaq Copenhagen, but also has strong capabilities in supporting debt and structured finance transactions.

Research period review (2021/2022)
In debt capital markets the firm maintains its strong position in bond/notes issuances and hybrid securities, advising mainly the issuers. The equity capital markets team was visible in the IPO space, where it notably advised on Green Hydrogen Systems’ IPO.

Recent Deal Data highlights

  • Alm Brand €1.5 billion rights offering
  • Copenhagen Infrastructure Partners €850 million financing
  • CVC Capital Partners €2.5 billion acquisition of Star
  • Danfoss €2.5 million bond issue
  • Green Hydrogen Systems’ Nasdaq IPO
  • Lunar €210 million acquisition of Swedish Lendify
  • Welltec International $325 million 8.25% senior secured notes issue 

Banking & Finance

Legal 500 - Bech-Bruun

Ranked: tier 1

Bech-Bruun has a strong cross-border acquisition financing department that works closely with other practice groups to deliver a full-service offering to clients seeking domestic transactional, real estate finance and energy project financing advice. The team is also well equipped to handle issues relating to fund subscription financings and aviation finance, with the latter being an area in which Thomas Thordal Sevelsted is an expert. Practice head Morten Krogsgaard specialises in international finance law and represents major financial institutions including JP Morgan.

High responsibility and strong availability.’

The team is always available, sharp and highly professional. The team has very strong skills, and a really high level of competencies and professionalism. The counselling is always delivered with the highest possible standard and with an excellent performance.’

Legal 500, Banking and Finance

Capital Markets

Legal 500 - Bech-Bruun

Ranked: Tier 2

Bech-Bruun handles major ECM transactions as well as complex regulatory issues. The team also has strong cross-border capabilities, with practice head Morten Krogsgaard specialising in international finance law. The group has particular expertise in setting up new financial businesses and insurance brokers as well as handling the registration of branch offices for foreign stockbrokers and insurers. Other names to note are Steen Jensen, who is an expert in takeover bids and buyback programmes, and ‘top lawyer’ David Moalem.

"Bech-Bruun has been outstanding and performing exceptionally well, and to the utmost highest standard in regards to legal counselling in the Capital Markets area."

"The Team has been available 24/7, with a really quick response time, with the best and always correct counselling/legal advice. The team has been pleasant the whole way through, while also being really sharp and competent at their work."

Legal 500, Capital markets

BB

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