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Capital Markets and Derivatives

TARK GRUNTE SUTKIENE has broad experience in capital markets and derivatives practice. We advise clients on public offerings, listings and public takeovers. Many prominent clients seek our advice on regulatory matters regarding, for instance, cross-border investment services and insider trading issues.

We take an active interest in the development of the capital markets in Baltic States and we provide added value for our clients on strategic and structural issues. Our lawyers have the main responsibility for the group's competence development and business intelligence.

Our attorneys have actively participated in transposition into local law the acts adopted by EU institutions under the Financial Services Action Plan. We have prepared implementation of MAD, MiFID and transparency directives into local laws. In addition, in numerous cases our attorneys have drafted securities laws for the Government, local Stock Exchanges and financial supervision authorities (most prominently, the Securities Market Act and the takeover rules of Estonia).

For more information, please contact:

• Gundars Cers  gundars.cers@tgslegal.com  Riga, Latvia
• Hannes Vallikivi  hannes.vallikivi@tgslegal.com  Tallinn, Estonia
• Vidmantas Drizga  vidmantas.drizga@tgslegal.com  Vilnius, Lithuania
• Andra Rubene  andra.rubene@tgslegal.com  Riga, Latvia
• Andres Siigur  andres.siigur@tgslegal.com  Tallinn, Estonia
• Inese Hazenfusa  inese.hazenfusa@tgslegal.com  Riga, Latvia
• Mantas Gofmanas  mantas.gofmanas@tgslegal.com  Vilnius, Lithuania

Recent deals in this area:

• TARK GRUNTE SUTKIENE advised in the implementation of AB SANITAS share acquisition transaction, one of the major and most successful mandatory takeover bids of recent years - September 2011
• TARK GRUNTE SUTKIENE advised in successful completion of the first admission of a Lithuanian company shares to the Lithuanian and foreign regulated markets - July 2011
• TARK GRUNTE SUTKIENE counselled in implementing one of the most successful mandatory tender offers in recent years concerning – the mandatory tender offer to buy up AB Snaigė shares - April 2011
• With advice of TARK GRUNTE SUTKIENE, the first admission of Lithuanian shares to trading on the regulated market of a foreign country completed successfully - April 2011
• The Financial Supervision Authority reacted to problems cropping up in the risk management of investment funds - September 2009

Publications in this area:

• The Takeover Bids Directive: A Success Story or Occupational Accident? - June 2010
• Adoption of stricter corporate governance standards for Estonian companies - August 2006
• Estonian Legislation Guide in IFLR 1000 (2006) - July 2005
• Financial collateral directive to be implemented - April 2004
• Securities Market Act regulates squeeze-out of minority shareholders - December 2001
• Independent Financial Supervision Authority takes control - October 2001
• Bringing Estonia's securities regulation up to European standards - September 2001
• Estonia adopts takeover law - February 2000