We have extensive experience in advising on the formation of capital market entities: investment firms, investment fund management companies and investment funds, as well as in providing ongoing advice to them and to other financial institutions (including trading venue operators, banks, insurance companies and pension fund companies) on all issues relating to their activities.

Our lawyers are experienced in issues related to the implementation and application of regulations governing financial institutions. We advise on the implementation of conduct of business requirements, solutions to enhance legal security, as well as the use of innovative solutions related to the digitalisation of trading.

We serve capital market institutions at every stage of their operations:

• starting with the creation and obtaining of the required permits and/or licences;
• through the preparation and updating the necessary internal and client-related regulations, including model contracts, and
• provision of on-going advice on their activities, including those related to the expansion of business (with new products or services) or the use of new technologies and changes to the existing business model (establishment of cooperation with external entities, including outsourcing, investment firms’ agents, distributors, etc.), as well as
• support in relations and disputes both with supervisory authorities, market infrastructure institutions (trading venues operators, clearing and/or settlement houses) and with clients.

We have an ongoing relationship with the Polish Chamber of Fund and Asset Management in advising on legislative work and the development of environmental standards. We also cooperate with the Polish Chamber of Brokerage Houses. Thanks to our cooperation with both Chambers, we are involved in the process of drafting legislation concerning the capital market in Poland on an ongoing basis. Our projects of a legislative nature also include the preparation of concepts and proposals for regulations in areas of key importance to the functioning of the capital market, such as the creation and operation of ETFs or venture capital/private equity investment vehicles.

We also provide advisory services in the process of acquiring shares in financial institutions and represent clients before the relevant institutions and authorities (Polish Financial Supervision Authority, Office of Competition and Consumer Protection) in connection with the necessity to submit the relevant notifications, as well as the obligation to obtain the required approvals.

In addition to providing regulatory services to financial institutions, we support the processes of preparing and conducting IPOs, handling tender offers for sale of shares, dual listings, as well as we provide legal services to issuers of listed financial instruments.

As an important and large part of capital market practice, SPCG provides services related to securitization. Our services in that area relate specifically to:

• creation and management of securitisation funds;
• advising on tender proceedings for the sale of NPL portfolios for both sellers and buyers of receivables;
• transactions for the sale of debt portfolios to securitisation funds (true sale, buy & leave, forward flow);
• conclusion of sub-participation agreements.

Members of our team are co-authors of the legal regulations relating to securitisation and, thanks to their ongoing cooperation with the Polish Chamber of Fund and Asset Management, they are involved on an ongoing basis in the legislative process concerning legislation relevant to participants in securitisation processes.

In our practice, we advise foreign and domestic investors as well as investment fund management companies and receivables servicers with regard to the structuring of various transactions involving the sale of receivables, including the tax and regulatory aspects of such transactions.