Many corporations are currently facing unforeseen challenges causing financial distress. Effective and well-orchestrated restructurings are needed to safeguard the continuity of business. However, conflicting stakeholder interests and complex inter-creditor issues may put obstacles in the way.
Despite the significant growth of the global structured product market in recent years, very few books on legal and regulatory issues related to structured products are available. The publication contributes to the knowledge base of legal practitioners and other structured product market participants. For our purposes, the term structured product refers to a pre-packaged investment that combines derivatives with other financial instruments to provide a return based on the performance of one or more underlying assets, including equity securities, indices, commodities, interest rates, currencies and, in some jurisdictions, credit risks.
On 21 July 2019, the new Prospectus Regulation (EU) 2017/1129 (“Prospectus Regulation”) replacing the Prospectus Directive 2003//71/EY entered into force in full. The new articles allowing e.g. issue new shares to public without a prospectus when aggregate issue price was no more than MEUR 8 during a period of 12 months (compared to previous equivalent limit of MEUR 5) were already implemented effective as at 1 January 2019. The full application of the Prospectus Regulation means that EU prospectuses which are filed to the Finnish Financial Supervision Authority (“FIN-FSA”) now have to be drafted and approved under the new regulations.
Along the lines: Our Partner Mika J. Lehtimäki wrote: https://iclg.com/practice-areas/alternative-investment-funds-laws-and-regulations/finland