Banking and Capital Market Operations

A favourable economic environment, stable business growth and increasing income among Russian citizens all contribute to the development of a robust market for financial services in Russia. Financial market institutions provide efficient mechanisms for attracting investments and in many cases are the main sources of financing the business. Promising new instruments are being formed in the retail and corporate sectors of the market. These and other factors are giving rise to a greater interest in the Russian financial services market on the part of investors.

Meanwhile, the complexity and ambiguity of Russian legislation governing this area set up dramatic hurdles to market participants. For this reason, major legislative changes are expected to improve the conditions for financial sector operations. In particular, considerable attention will be paid to creating a legal basis for new financial instruments, strengthening the legal framework for protecting investors’ rights, and enhancing the regulation of the financial market.

Knowing the importance of legal support in this sphere, we provide a wide range of legal services to Russian and foreign participants of the financial market, such as:

  • financial institutions (banks, professional participants of the securities market, management companies, non-state pension funds, and insurance companies);
  • investors and corporate clients.
We at PricewaterhouseCoopers CIS Law Offices B.V. have extensive experience in all the relevant areas and successfully coordinate complex projects which involve PwC industry specialists and financial and tax professionals.

How PwC can help

  • Consulting of financial institutions and corporate clients on all aspects of transactions with securities, including sale/purchase transactions with securities, REPO operations, and transactions for providing securities as collateral.
  • Project finance structuring, analysis and drafting of loan/credit agreements, collateral transactions structuring and drafting of relevant contract documents, including pledge/surety agreements and bank guarantees.
  • Consulting on derivatives operations.
  • Consulting of non-state pension funds on the development and implementation of non-state pension plans.
  • Legal due diligence of banks, insurance companies, professional participants in the securities market, and other financial institutions.
  • Consulting on registration and licensing of credit institutions, insurance companies, mutual fund management companies, professional participants of the securities market (including those with foreign capital), and representative offices of foreign credit institutions. Providing of legal support in the course of registration and licensing procedures.
  • Consulting on currency control, budget law, and regulatory requirements for financial institutions.
  • Advice on promissory notes/bills of exchange legislation.
  • Consulting of foreign companies on all legal issues related to implementation of long-term incentive plans (stock option plans) for Russian employees.

Projects of PricewaterhouseCoopers CIS Law Offices B.V.

  • Advising the Russian Federal Service for Financial Markets on the creation of the Central Securities Depository in Russia (including drafting of the respective draft law) and on improving the infrastructure of the Russian capital market.
  • Consulting services for one of the largest Russian banks on securitization of assets.
  • Advising OAO Gazprom on currency aspects of structuring settlements under a production sharing agreement in India.
  • Consulting services for a leading foreign bank on creating a subsidiary insurance company and developing effective insurance programs in Russia.
  • Assistance to one of the largest Russian non-state pension funds with the development and implementation of new non-state pension plans.