What were the hottest legal topics of the past decade? What gave our clients pause for thought? We listed five things to provide plenty to talk about not just over the holidays, but far into the new decade, as well.
16.12.2019
What Were the Major Commercial Law Trends of the 2010s? Five Conversation Starters for the Holidays
1. Data Protection
Data protection regulations lay down the ground rules for the processing of personal data. The amount of data being processed has exploded, and organisations have begun leading and developing their operations with data. It has become more important than ever to ensure that processing is done legally.
The EU’s General Data Protection Regulation entered into force in May 2018. This new legislation has forced companies to learn a risk-based approach to the planning and implementation of personal data processing. High-profile case law has emphasised transparency, the providing of information and the compliance of processing with the law. The data protection revolution is ongoing and can be expected to take on new forms in the future.
2. Digitalisation and AI
Digitalisation and technological innovations have begun shaping businesses. Machine learning and blockchain have given rise new opportunities in a number of fields, including the legal services industry. Examples include document automation, online dispute resolution and AI document analysis. The use of AI also comes with risks, however: if the machine learning process is flawed, the decisions made by AI could be discriminatory. AI still needs a person (perhaps even a lawyer) to back it up.
3. Sustainability
Sustainability has become a driver of successful business. In addition to profit, an increasing number of companies are also seeking to minimise environmental impacts, take good care of their personnel and handle corporate governance well. Sustainable practices exceed the minimum level required by law. Sustainability requirements are being extended down the supply chain, and interest group impacts are being identified. To lead with data, you have to use the data responsibly.
A significant number of companies are already seeking to achieve social impact through their operations—a fact that cannot help but be reflected in the legal services industry. This development can be seen in sustainable investment assignments, new forms of financing, compliance work, public-sector procurement and numerous energy-industry assignments.
4. Brexit
The UK’s departure from the EU has been a mainstay in news headlines since 2017 when the country formally announced its withdrawal. Given the fresh election results, Brexit looks set to take place on 31 January 2020, but the shape of the UK’s and EU’s relationship following the transition period remains unclear.
The schedule is extremely tight, and if no agreement is reached, the UK will become a third country to the EU at the end of next year. In the legal field, a hard Brexit would particularly impact trader’s permits, the trade of goods and IPR issues. In many industries, companies are hoping for the best, but preparing for the worst. There is plenty here to keep lawyers busy for years to come.
5. Climate Change
Everyone has heard of Swedish climate activist Greta Thunberg, who despite her young age has taken a strong stance on climate policy. Climate change has dominated public debate and impacted personal choices. The Paris climate accord will be applied starting in 2020, and the EU has just approved a green deal. The battle to stave off climate change continues, and is showing up in the legal field, for example, in the form of emissions-free energy projects.
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Nscale – Data centre project
Castrén & Snellman advised Nscale, a European AI infrastructure company, in connection with its planned data centre project in Harjavalta, Finland. The facility will be located in the Sievari industrial area. Castrén & Snellman’s advisory role encompassed the negotiation and execution of a site securing and development agreement (SSDA) with Fortum, as well as the preliminary land sale process for the Sievari site with the Town of Harjavalta. Under the SSDA, Fortum supports the advancement of Nscale’s project development, including grid connection design and permitting.
Case published 15.4.2026
Taaleri – Acquisition of a majority stake in Nordic Science Investments
We are acting as legal adviser to Taaleri Plc on its acquisition of a 51 per cent ownership stake in Nordic Science Investments Oy (NSI), marking Taaleri’s expansion into deeptech-driven venture capital. Through the transaction, Taaleri broadens its private equity offering into early-stage venture capital funds as well as the commercialisation and scaling of research-driven innovations. NSI is a Finnish venture capital fund manager operating across the Nordic and Baltic regions, focusing on early-stage investments in research- and science-based technologies. Its portfolio companies develop, among other things, health technologies, life sciences, advanced materials and AI-driven solutions. In addition to providing growth capital, NSI supports spin-out companies with strategic guidance, access to networks and assistance in building teams during the early phases of business development. NSI’s first fund, the EUR 45 million NSI Nordic Science I Ky, was established in 2024 and has to date invested in 22 early-stage companies in Finland, Sweden and the Baltic countries. Taaleri is a specialist in investments, private asset management and non-life insurance, with a strong position in renewable energy, bioindustry and housing investments as well as credit risk insurance. Taaleri has EUR 2.7 billion of assets under management in its private equity funds, co-investments and single-asset vehicles, employs approximately 130 people and is listed on Nasdaq Helsinki. The founders of NSI will continue in their operational roles following the transaction. The completion of the transaction is subject to approval by the FIN-FSA.
Case published 13.4.2026
Finnish Centre for Pensions – Information design workshop
We delivered two information design workshops for the legal department of the Finnish Centre for Pensions, with participants from both legal and other professional backgrounds. In the sessions, we applied the principles of legal design thinking to the Finnish Centre for Pensions’ field of operation and background materials, also utilising AI as a design tool. The participants found the tailored training highly useful and commended the trainers for their in-depth familiarisation with the Centre’s opinion drafting process and operating environment. As a result of the workshops, our experts proposed a new structural and linguistic model for the legal department of the Finnish Centre for Pensions for drafting opinions and guidelines. The proposal was well received as clear and applicable to the participants’ everyday work. In addition, we presented tailored AI use cases to support experts, allowing for a more efficient AI-assisted way of working. Our experts who delivered the workshops combined their legal expertise with their leading experience in legal design. The participants appreciated this versatile expertise, which enabled a knowledgeable, creative and applied approach to legal writing. ‘C&S created a well-structured training tailored to our needs, providing clear direction for our organisation and concrete takeaways for our experts in their day-to-day work,’ says Mari Kuunvalo, Head Of the Legal Department at the Finnish Centre for Pensions.
Case published 10.4.2026
Aktia Bank – EUR 80 million AT1 bond
We advised Aktia Bank Plc on the issuance of an EUR 80 million Additional Tier 1 (AT1) bond. The bond pays a fixed interest rate of 6.75 per cent semi-annually. The bond is perpetual, and Aktia has the right to redeem or repurchase it in accordance with the terms of the bond, subject to certain conditions. The bond was issued on 1 April 2026. In addition, we assisted Aktia in listing the bond on the Nasdaq Helsinki Ltd stock exchange. For the listing, we prepared Finland’s first EU Follow-on prospectus for a bond. The EU Follow-on prospectus was introduced on 5 March 2026 with an update to the Prospectus Regulation (EU) No. 2017/1129. The EU Follow-on prospectus is a new type of prospectus that can be used, among others, by issuers whose securities have been admitted to trading on a regulated market continuously for at least the 18 months preceding the offer to the public or the admission to trading on a regulated market of the new securities. A follow-on prospectus is simpler than a so-called traditional prospectus, and it is intended to avoid repeating information that the issuer has already disclosed. Nordea Bank Abp acts as the sole structuring advisor for the issue of the Notes. Nordea Bank Abp, Danske Bank A/S and ABN Amro Bank N.V. act as the lead managers for the issue of the Notes.
Case published 7.4.2026