Government Relations & Administrative Law Experience

  • LATVIA

    Participating in drafting new finance laws and regulations in Latvia including drafting a new Bank Takeover Law for the Latvian Government, and urgent amendments to the Credit Institutions Law giving broader powers to the Latvian Financial and Capital Market Commission to address possible financial difficulties in the Latvian banking sector.

    Representing and providing continuous legal assistance to one of the world's largest online poker organisers in discussions and negotiations with the Latvian Ministry of Finance and Cabinet of Ministers regarding the most important draft legal enactments for the online gaming industry: the Gambling Law and the Gambling Duties and Tax Law. SORAINEN was further involved in drafting completely new draft amendments relating only to online poker, not online gaming in general.

    Providing legal support to the Latvian Venture Capital Association (LVCA) in relation to implementing the Alternative Investment Fund Managers Directive (AIFMD) in Latvia to ensure that Latvian law implementing AIFMD provides a reasonable level of regulatory burden and takes account of Latvian market specifics. LVCA, with SORAINEN's advice, has been successful in agreeing on several key regulatory issues with the Financial and Capital Market Commission, which supervises entities subject to the new regulation.

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