Harvest assisted Bure in the acquisition of shares from financial actors
Harvest has assisted Bure Equity and its subsidiary company in the acquisition of all shares in the investment firm Meetoo AB, as well as its acquisition of 32.5% of the shares in the AIF manager Alcur Fonder AB.
Bure is an investment company publicly traded on Nasdaq Stockholm Mid Cap.
Harvest’s team consisted of partner Björn Wendleby and associate Eleonora Pavliouk.
Harvest assisted Tundra Fonder in applying to become an AIF manager
Harvest has assisted Tundra Fonder with its application for authorisation to operate as an AIF manager. The application was approved on June 29.
Tundra Fonder is a Swedish fund manager specialized in frontier markets, the emerging growth markets.
Harvest’s team consisted of senior associate Wictor Furman and associate Emelie Persson.
Harvest is assigned data protection officer for Spiltan Fonder
Harvest has during the last year participated in several projects conducted by clients to adapt to the new regulations for processing of personal data that entered into force on May 25, 2018 (GDPR). One of the services that the firm provides is to act as data protection officer (DPO).
Harvest has now been assigned data protection officer for Spiltan Fonder. The company is a fund company that also has a license as an AIF manager. The biggest private financial magazine of the Nordic countries, Privata Affärer, appointed Spiltan Fonder the fund company of the year and Spiltan Aktiefond Dalarna to the Small Value Fund of the year in February 2018.
Main responsible for the assignment is partner Anna Cumzelius.
Harvest attended DI Bank
Harvest today participated as a partner at the conference DI Bank, which took place for the eight-consecutive year. We got to listen to the visions of the managing directors of the major banks, regarding the financial sector, the opportunities of digitalization, relevant regulations and the position of new actors on the market. 350 participants from the financial sector attended the conference at Grand Hôtel.
Amin Bell, Rakey Renström Secka, Gustav Sälgström and Björn Wendleby represented Harvest at the event.
Harvest assists payment institutions in applying for reauthorization due to PSD2
The second payment services directive, PSD2, will be implemented in Sweden on May 1. The Swedish Financial Supervisory Authority (Sw. Finansinspektionen) has communicated that all existing payment institutions will be required to apply for reauthorization at the latest on October 31, 2018, to be permitted to continue its operations. Harvest has been assigned to assist in applying for reauthorization to Finansinspektionen by several payment institutions. This work will take place starting in the spring.
Further, Harvest will assist several completely new actors with their applications for authorization as a payment institution pursuant to the new legislation along the summer and fall of 2018.
Harvest’s managing partner ranks high in Chambers
Harvest’s managing partner, Björn Wendleby, has been ranked in band 2 in Chambers Europe Edition 2018 in the section Banking and Finance – Regulatory. He has previously been ranked in band 4. The guide states that “Sources praise Björn Wendleby’s “outstanding knowledge” of financial services regulatory topics. “He is able to explain complex issues in a comprehensive way that anyone can understand”, states one client.”
Chambers is the leading international actor regarding assessment and ranking of lawyers.
Harvest assisted with listing of participation loan debentures on NGM
Harvest has recently assisted with legal advice and preparation of prospectus and base prospectus for the listing of the participation loan debentures issued by The Single Malt Fund AB (publ) and Nordic Credit Partners Fund III AB (publ) at the Nordic Growth Market ("NGM").
The Single Malt Fund AB (publ) is the world's first regulated whiskey fund issuing participation loan debentures traded on a regulated market. The fund’s investment strategy means that the capital received by the issue is to be invested into rare whiskey sorts. Nordic Credit Partners Fund III AB (publ) invests in a diversified portfolio of Nordic high-yield corporate bonds.
Furthermore, Harvest has also, for the third consecutive year, assisted the Scandinavian Credit Fund I AB (publ) with the preparation of a base prospectus. The fund’s participation loan debentures are listed on NGM. The fund’s investment objective is to offer short-term and medium-term direct loans to companies and other forms of associations who are in any form of expansion, investment, restructuring, refinancing, generation financing or seasonal needs. The fund's capital amounts currently to almost SEK 1.2 billion.
Harvest's team consisted of managing partner Björn Wendleby and associate Eleonora Pavliouk.
Harvest is engaged as expert by InsureSec AB
Harvest has during 2017 become part of InsureSec’s training council. InsureSec is a self-regulation institution within the insurance mediation industry and was established by the Swedish Insurance Brokers’ Association (Sw. Svenska försäkringsförmedlares förening) and a majority of the leading life insurance companies. The assignment means that Harvest will attend to the meetings of the training council where, among other things, license issues and knowledge requirements will be discussed. Harvest will also assist in the ongoing work with updating the knowledge requirements because of amendments in the legislation regarding insurance brokers, for example in relation to the implementation of IDD during the fall of 2018.
Harvest’s team in the training council consists of partner Amin Bell and senior associate Wictor Furman.
Harvest assisted Alnair with its application to become an investment firm pursuant to MiFID II
On January 3, 2018, new legislation enters into force due to the MiFID II directive and the MiFIR regulation, which affects, inter alia, investment firms and market places. The new legislation means that actors that were previously not required to apply for authorization to conduct certain operations will now be required to do so. One of these actors is Alnair, whose operation relates to trading financial instruments on behalf of the own company, which is conducted in the form of algorithmic high-frequency trading.
Harvest has assisted Alnair with its application for authorization to conduct investment services and activities pursuant to the regulations in MiFID II and MiFIR. The application was approved on December 20, 2017.
Harvest’s team consisted of partner Gustav Sälgström and associate Eleonora Pavliouk.