Legal Advice

Financial Services Legal

The fi­nan­cial sec­tor is in­cre­asin­gly re­gu­la­ted world­wide. Since the out­break of the fi­nan­cial mar­ket cri­sis, the EU le­gis­la­tor has laun­ched nu­me­rous re­gu­latory in­itia­ti­ves, as a re­sult of which banks, ca­pi­tal ma­nage­ment com­pa­nies and fi­nan­cial ser­vice pro­vi­ders are sub­ject to in­cre­asin­gly strict re­gu­la­ti­ons.

At the same time, the gro­wing use of dis­rup­tive tech­no­lo­gies is pre­sen­ting new chal­len­ges to the fi­nan­cial sec­tor. New tech­no­lo­gies and glo­bal mo­ne­tary po­li­cies as well as ca­pi­tal mar­ket po­li­cies are for­cing the sec­tor to con­ti­nually ad­apt cor­po­rate fi­nan­cing. Thus, al­ter­na­tive cor­po­rate fi­nan­cing is be­com­ing in­cre­asin­gly im­port­ant in ad­di­tion to tra­di­tio­nal cre­dit fi­nan­cing by banks. The mar­ket for al­ter­na­tive ca­pi­tal in­vest­ments has also gai­ned in im­port­ance alongs­ide the mar­ket for clas­sic ca­pi­tal mar­ket pro­ducts and has been sub­ject to ra­pidly gro­wing re­gu­la­tion in re­cent years. In all of this, it is im­port­ant to keep pace with the fast-mo­ving na­ture of the fi­nan­cial mar­ket and to keep an eye on the high se­cu­rity re­qui­re­ments.

Se­cu­rity awa­ren­ess and re­gu­latory know-how - this is what the fi­nan­cial ser­vices team at Eb­ner Stolz is very fa­mi­liar with when it co­mes to pro­vi­ding com­pe­tent ad­vice to mar­ket par­ti­ci­pants in the fi­nan­cial sec­tor.

We proac­tively ana­lyze cur­rent re­gu­latory de­ve­lop­ments and ad­vise on their le­gally com­pli­ant and au­dit-proof im­ple­men­ta­tion. In par­ti­cu­lar, we sup­port cre­dit in­sti­tu­ti­ons, ca­pi­tal ma­nage­ment com­pa­nies, fi­nan­cial ser­vice pro­vi­ders, pay­ment in­sti­tu­ti­ons and Fin­Tech com­pa­nies in all le­gal mat­ters re­la­ting to in­sti­tu­tion and pro­duct su­per­vi­sion as well as pro­duct de­sign, in­clu­ding re­pre­sen­ta­tion in court and vis-à-vis the fi­nan­cial su­per­vi­sory aut­ho­ri­ties. We ad­vise com­pa­nies on ques­ti­ons of al­ter­na­tive fi­nan­cing and on ques­ti­ons of re­gu­latory avo­idance.

In pro­vi­ding le­gal ad­vice, we work clo­sely with Eb­ner Stolz's au­di­tors, tax ad­vi­sors and ma­nage­ment con­sul­tants spe­cia­li­zing in fi­nan­cial ser­vices. As a mul­ti­di­sci­pli­nary con­sul­ting firm, we are in a po­si­tion to of­fer an at­trac­tive one-stop com­plete con­sul­ting ser­vice, es­pe­cially in com­plex pro­duct- or in­sti­tu­tion-re­la­ted pro­jects, ta­king into ac­count all re­le­vant le­gal, tax, busi­ness and au­diting as­pects.

Our services at a glance

  • Pro­duct su­per­vi­sion / pro­duct con­cep­tion
    • Su­per­vi­sory and cor­po­rate law ad­vice on struc­tu­ring and re­struc­tu­ring of al­ter­na­tive fi­nan­cial pro­ducts, in par­ti­cu­lar in­vest­ment as­sets, trust struc­tures and as­set ma­nage­ment (es­pe­cially in the areas of real es­tate, trans­por­ta­tion, pri­vate equity, pri­vate debt, in­fra­struc­ture and en­ergy)
    • Ad­vice on pro­spec­tus pre­pa­ra­tion and pre­pa­ra­tion of sub­scrip­tion do­cu­ments for the do­mestic and cross-bor­der sale of al­ter­na­tive fi­nan­cial pro­ducts, in­clu­ding no­ti­fi­ca­tion and ap­pro­val pro­ce­du­res with Ba­Fin (Bun­des­an­stalt für Fi­nanz­dienst­leis­tungs­auf­sicht)
    • Ad­vice on the re­gu­latory com­pli­ant ac­qui­si­tion of as­sets for al­ter­na­tive fi­nan­cial pro­ducts
    • Ad­vi­sing in­ves­tors on in­ves­ting in fi­nan­cial pro­ducts, in par­ti­cu­lar che­cking in­vest­ment com­pli­ance ac­cor­ding to VAG/AnlV/Sol­vency II
    • Ad­vice on pro­duct de­sign and sa­les in the Fin­Tech sec­tor, in par­ti­cu­lar al­ter­na­tive pay­ment sys­tems, crowd­fun­ding, use of block­chain tech­no­logy in the fi­nan­cial sec­tor (in par­ti­cu­lar in­itial coin of­fe­ring/ICO, se­cu­ri­ties to­ken of­fe­ring/STO, tra­ding with crypto cur­ren­cies), au­to­ma­ted fi­nan­cial port­fo­lio ma­nage­ment/in­vest­ment ad­vice and di­gi­ta­li­zed fi­nan­cial pro­duct sa­les
    • Ad­vice on ge­ne­ral ban­king con­tract law, in­clu­ding ge­ne­ral terms and con­di­ti­ons
    • Ad­vi­sing com­pa­nies on how to avoid re­gu­la­tion, in par­ti­cu­lar on re­gu­latory free ca­pi­tal rai­sing, in­clu­ding joint ven­tures/club deals

  • In­sti­tu­tio­nal and mar­ket su­per­vi­sion
    • Ad­vice on the es­ta­blish­ment and ac­qui­si­tion of in­sti­tu­ti­ons and bran­ches, as well as on ob­tai­ning or ex­ten­ding in­sti­tute li­cen­ses or re­gis­tra­ti­ons in ac­cor­dance with the Ger­man Ban­king Act (KWG), the Ger­man In­vest­ment Bank Act (KAGB) or the Ger­man In­surance Su­per­vi­sion Act (ZAG)
    • Ad­vice on the struc­tu­ral and pro­ce­du­ral or­ga­niza­tion of su­per­vi­sed in­sti­tu­ti­ons and other ob­li­ga­ted par­ties, in par­ti­cu­lar on the es­ta­blish­ment of risk and com­pli­ance ma­nage­ment sys­tems as well as in­sti­tu­tion com­pen­sa­tion sys­tems, ca­pi­tal ade­quacy, out­sour­cing, mo­ney laun­de­ring au­dits, trans­pa­rency and dis­clo­sure ob­li­ga­ti­ons and other go­ver­nance and con­duct ob­li­ga­ti­ons
    • Ad­vice on re­por­ting and no­ti­fi­ca­tion mat­ters and on ow­nership con­trol in the con­text of mer­gers and ac­qui­si­ti­ons
    • Ad­vice on ca­pi­tal mar­ket com­pli­ance
    • Con­sul­ting on coope­ra­ti­ons and plat­form so­lu­ti­ons, es­pe­cially in the Fin­Tech sec­tor

  • Li­ti­ga­tion / Re­pre­sen­ta­tion in pro­cee­dings
    • Re­pre­sen­ta­tion of cre­dit in­sti­tu­ti­ons, spon­sors, is­su­ers, ad­mi­nis­tra­tors, in­ter­me­dia­ries and other ser­vice pro­vi­ders as well as in­sti­tu­tio­nal in­ves­tors in ci­vil law dis­pu­tes, in par­ti­cu­lar in con­nec­tion with pro­spec­tus lia­bi­lity ac­tions and other claims for da­ma­ges in con­nec­tion with fi­nan­cial pro­ducts or fi­nan­cial ser­vices (in­di­vi­dual and mass pro­cee­dings)
    • Re­pre­sen­ta­tion in re­gu­latory pro­cee­dings against the fi­nan­cial su­per­vi­sory aut­ho­rity
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