Some Legal Developments for the End of 2012

Some Legal Developments for the End of 2012

posted in: M&A | 0

At least the following legal developments should be borne in mind in relation to Finland in the short term.
We will prepare technical updates on these during 2012.

  1. The completely revised securities laws will be adopted late 2012 and they will be most likely in force as of the beginning of 2013;
  2. The laws and technical regulations in relation to alternative investment fund and managers (all other funds than the UCITS) will take effect in June 2013;
  3. There have been and will be a number of changes in the solvency and capital regulations of the insurance companies. These will e.g. change investment allocation of these companies – being the largest single investors in Finland;
  4. The ERISA regulation and technical standards will bring all O TC-trading into a regulated activity – also for firms entering into such contracts. This will take place most likely in the beginning of 2013; and
  5. The content requirements and exemptions relating to prospectuses have changes as of 1 July 2012. E.g. the minimum threshold of securities offerings (requiring a prospectus) was raised from 100.000€ to 1,5m€, making is easier to carry out small public equity issues.

It will be a busy year for the regulatory lawyer indeed.