Capital markets/FinanceCapital markets and loan facilities belong to the most important sources of funding for corporations and are thereby essential for economic growth and wealth. In the aftermath of a global financial crisis with exorbitant dimensions banks were regulated significantly stricter. Additionally, the legislators tried to regain investor confidence by a stricter regulation of the financial industry. Basel III, MiFID II and the market abuse regulation are only a few keywords. At the same, an effort can be noticed to facilitate the access to capital markets for SMEs. In Austria, for instance, a new crowdfunding law was introduced, at European level the planned capital markets union will facilitate the prospectus regime.
Due to this vivid legislative activity the legal framework is in steady - partially fundamental - change. Overall, market participants in the field of Capital markets/Finance are confronted with a tremendous regulatory density fragmented in countless legal sources. Concurrently violations are sanctioned with draconian penalties. In this challenging environment comprehensive and professional legal advice is crucial.
- Corporates and banks in capital market transactions such as IPOs, Re-IPOs and corporate bonds
- Issuers in the field of capital market compliance, thus in complying with the market abuse regulation, the Stock Exchange Act and regulations of the Financial Market Authority
- Issuers in stock corporation law, e.g. by accompanying shareholders’ meetings, advising purchases and sales of own shares, setting up employee option programs and in corporate bodies’ liability issues
- Issuers in corporate governance, like by external evaluations and in drafting the annual corporate governance report
- Investors and corporates in the purchase/sale of companies and shareholdings, for instance in the field of private equity and venture capital
- Young growth companies in crowdfinancing projects and in cooperations with large corporations
- Banks and corporates in loan origination and securitization issues (e.g. pledges, assignments for securities)
- In litigious matters such as administrative prosecutions by the Financial Market Authority and civil proceedings against investors