Financial Regulation

Financial Regulation

Finance is one of the most thoroughly and complexly regulated fields. We are a reliable and skilled partner in all issues you may encounter due to regulation and evolving market. We are renowned for our appetite to take on even the most complex and challenging regulatory situations. Instead of shying away, we handle these matters with enthusiasm and commitment, always acting in the best interests of our clients.

In addition to client assignments, we participate actively in legislative work and in developing market practices. Janne Lauha currently chairs the Finnish Bar Association’s Securities and Finance Law Expert Group and he is also an appointed expert of the Finnish Ministry of Justice in matters relating to securities law.

You will benefit from the most up-to-date information concerning the market and from our excellent contacts with the authorities. Our expertise will be of particular use in situations where regulations are still in the formative stage and no application practices have yet been established. In international regulatory matters, you will have access to our unique network of law firms.

  • Authorisations and market entry

  • Notifications and passporting procedures
  • Planning terms and conditions for services
  • Offering of financial services and products
  • Legal opinions and day-to-day advice
  • Compliance reviews and guidelines
  • Regulatory advice relating to banking, payment services, asset management, UCITS and AIFMs, as well as MiFID II
  • Regulatory matters relating to trading venues, post trading, clearing & settlement
  • Derivatives, EMIR and short selling procedures
  • Crowdfunding opportunities

Our clients are Finnish and international banks, payment service providers, fund managers, investment service firms, listed companies and international law firms.

The Legal 500, IFLR1000, Chambers Europe and Chambers Global rank our services among Finland’s best.

Latest references

We advised Ålandsbanken Abp in the consent solicitation process regarding its SEK 150,000,000 Tier 2 notes due December 2041 and SEK 200,000,000 Tier 2 notes due March 2043. The terms and conditions of the aforementioned instruments were amended by removing the write-down mechanisms in the consent solicitation process. In addition, we advised Ålandsbanken Abp on the issue of SEK 350 million Additional Tier 1 notes. The notes bear floating interest at the rate of STIBOR three months plus a margin of 3.35 per cent per annum. The AT1 notes were issued on 20 November 2025, and admitted to trading on the official list of Nasdaq Helsinki Ltd. The instrument has no maturity date and qualifies as Additional Tier 1 capital in accordance with the EU Capital Requirements Regulation. The issue strengthens Ålandsbanken’s capital structure by taking advantage of favourable market conditions.
Case published 10.12.2025
We are acting as the legal advisor to WithSecure Corporation in Diana BidCo Oy’s voluntary public cash tender offer for all the issued and outstanding shares in WithSecure. The tender offer values WithSecure’s total equity at approximately EUR 299 million. Diana BidCo is a private limited company incorporated and existing under the laws of Finland that will be indirectly owned by a consortium formed for purposes of the tender offer by certain affiliated funds of CVC Capital Partners Plc and Risto Siilasmaa. The consortium believes that the partnership strengthens and accelerates the road to WithSecure’s long-standing goal of becoming Europe’s most trusted cybersecurity partner by positioning the company to lead the next era of business cybersecurity. WithSecure’s shares are listed on the official list of Nasdaq Helsinki. WithSecure is a Europe-based cybersecurity company that helps protect businesses and is committed to strong partnerships with customers and collaborators. WithSecure’s customers trust WithSecure with outcome-based cybersecurity that protects and enables their operations. The completion of the tender offer is subject to the satisfaction or waiver by the offeror of certain customary conditions on or prior to the offeror’s announcement of the final results of the tender offer. The tender offer is currently expected to be completed during the fourth quarter of 2025. The Takeover Board of the Securities Markets Association issued on 4 August 2025 a new recommendation (1/2025) on good securities market practice that deals with the target company’s board of directors’ obligations in case of a consortium offer in which a major shareholder of the company participates in the consortium.
Case published 8.8.2025
We acted as legal advisor to eQ Fund Management Company Ltd in a structural arrangement in which Special Investment Fund eQ Residential Fund and Special Investment Fund eQ Residential Fund II transferred their assets to the newly launched Special Investment Fund eQ Residential Fund III. In connection with the arrangement, eQ Residential Fund III raised 37 million euros in new capital, and its fundraising will continue throughout 2025.  The portfolio of eQ Residential Fund III consists of 19 residential properties completed between 2021 and 2024, comprising nearly 1,400 apartments located in the Helsinki Metropolitan Area, Turku, and Tampere.
Case published 21.5.2025
We advised the Savings Banks Group on an arrangement whereby the shares in Sp-Henkivakuutus Oy were sold to Henki-Fennia and at the same time the parties agreed on a long-term distribution cooperation for insurance savings and loan protection products. The closing of the transaction remains subject to regulatory approvals. Sb Life Insurance is a domestic life insurance company, established in 2007, offering insurance savings and risk insurance products to private customers and companies. The Savings Banks and Oma Säästöpankki Oyj act as agents for Sp-Life Insurance. Henki-Fennia is a subsidiary of Keskinäinen Vakuutusyhtiö Fennia, specialising in voluntary life, pension and savings insurance.
Case published 11.4.2025