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On 5 October 2018 Waselius & Wist is hosting a seminar in Helsinki on tax litigation, with specific focus on transfer pricing disputes. The seminar is part of a legal event called Käräjät, arranged by Edita Publishing Oy, one of the major producers of legal training in Finland. Waselius & Wist’s session will discuss the specific features of tax litigation at Court level. More particularly, the topics reflected in light of Court proceedings are inter alia transfer pricing and the specific features therein, alternative dispute resolution, display of evidence and the various economical methods as used in litigation for argumentation purposes. Certain State Aid cases will also be looked at as specific proceedings with a transfer pricing dimension as well as the Mutual Agreement Procedure as a means to solve cross-border conflicts. The session is chaired by our Tax partner Jouni Weckström.
For more information and registration, please visit www.käräjät.fi (only available in Finnish).
Nordea to be supervised by the European Central Bank together with the Finnish Financial Supervisory Authority
Nordea, the largest financial services group in the Nordic region and one of the largest banks in Europe, has resolved to move its headquarters from Sweden to Finland. A large majority of 96.6 % of the shareholders at Nordea Bank AB’s annual meeting on 15 March 2018 voted in favor of relocating the headquarters to Helsinki, readily surpassing the required two-thirds majority vote. The target date for the relocation is 1 October 2018.
Of the four domestic markets of Nordea, Finland’s membership in the European Banking Union was the decisive factor for the relocation. Following the relocation Nordea will be supervised by the European Central Bank together with the Finnish Financial Supervisory Authority. Nordea will also be subject to the same banking supervision and single resolution mechanisms as the great majority of other European banks. The move contributes considerably to the stability in the Eurozone and helps to create a levelled playing field when major actors within the banking sector are covered by common supervision and the jurisdiction of the Single Resolution Board. As a result of the relocation the size of the Finnish banking sector will be triple the size of Finland’s GDP. As a response to the relocation, the Finnish Financial Supervisory Authority will adjust its organizational structure with respect to banking supervision and make preparations for the use of macroprudential tools and supervisory cooperation with the European Central Bank and the Swedish regulator Finansinspektionen.
Nordea’s decision to relocate follows the Swedish Government’s intention to increase the amount of the so called resolution fee, a banking tax collected from Swedish financial institutions. Also, the stricter Swedish bank legislation and tighter capital requirements compared with the EU were of relevance when the decision to relocate was made.
For further information, please contact
Waselius & Wist is sponsoring the upcoming Helsinki International Arbitration Day 2018, organized by The Arbitration Institute of the Finland Chamber of Commerce. The event will take place on 24th May 2018 at Restaurant Pörssi, Fabianinkatu 14, Helsinki, Finland . We look forward to meeting you there!
Jouni Weckström joins Waselius & Wist as Specialist Partner on 1 January 2018 to strengthen the firm’s Tax & Structuring practice. Jouni has more than 18 years of prior experience from tax practices of other leading Finnish law firms and as a tax litigator for the State of Finland and the City of Helsinki. Jouni is recognized as a leading tax disputes practitioner in Finland and is also renowned for his analytical mind and tax structuring skills, especially within the field of cross-border M&A and real estate. Jouni is a regular panel speaker at Finnish and international tax conferences.
“We are delighted to welcome Jouni, who has acted on a large number of high profile tax disputes and complex M&A transactions”, says Niklas Thibblin, the firm’s Managing Partner. “Jouni’s experience in both tax disputes and international acquisition structuring will broaden and deepen the reach of our already strong tax practice.”
“I am truly excited to join Waselius & Wist. My appointment shows both Waselius & Wist’s commitment to growing our tax practice and the strength that we already have in the market. I look forward to contributing to its outstanding profile”, says Jouni Weckström.
Waselius & Wist is pleased to welcome four new associates as part of our highly talented team. Mona Numminen and Henri Kaskimo both join from Roschier, Attorneys Ltd., while Emilia Saloranta and Helena Wist are new graduates and have both previously worked as Trainees at Waselius & Wist. Henri has also been previously employed by the firm as an associate between 2013-2015.
We are excited to have these four ambitious lawyers join our team.
Waselius & Wist is sponsoring the upcoming Helsinki International Arbitration Day 2017, organized by The Arbitration Institute of the Finland Chamber of Commerce. The event will take place on 18th May 2017 at Finlandia Hall, Mannerheimintie 13 E, Helsinki, Finland. We look forward to meeting you there!
More information and registration:
Jouni Kautto has been appointed Specialist Partner as of 1 January 2017. Jouni Kautto’s main areas of practice are Employment and Incentives and Tax Law. Jouni joined Waselius & Wist in 2012 and will as of 1 January 2017 head the firm’s Employment and Incentives practice. Jouni has solid experience in working with domestic and international clients on a variety of employment matters including issues related to transactions and workforce restructurings in connection with transactions as well as day-to-day employment matters. In addition, Jouni has advised clients in various tax law related issues especially within the area of indirect taxation and VAT.
Waselius & Wist is a sponsor of the upcoming Helsinki International Arbitration Day 2016, organized by The Arbitration Institute of the Finland Chamber of Commerce. The event will take place on 26 May 2016 at Restaurant Pörssi, Fabianinkatu 14, Helsinki, Finland. Come and meet us there!
More information and registration:
Fredrik Lassenius joins Waselius & Wist as Specialist Partner on 1 March 2016 to strengthen the firm’s M&A practice. Fredrik has more than 15 years of prior experience in M&A and corporate transactions as the head of Deloitte’s M&A Legal in Finland, the head of Nokia’s M&A Legal and as a lawyer with the law firm Roschier.
“We are delighted to welcome Fredrik whose expertise is well recognized by clients and M&A market specialists”, says Niklas Thibblin, the firm’s Managing Partner. “Fredrik’s dual experience as both in-house and external counsel and his experiences of Nokia’s landmark transactions gives him a unique perspective from which to advise clients in complex business transactions. His arrival will definitely add further depth to the firm’s domestic and international transactional capability.”
“I am truly excited to join Waselius & Wist. The firm has a reputation for excellence and has established itself as one of the leading M&A practices in Finland. I look forward to contributing to its outstanding profile”, says Fredrik Lassenius.
Waselius & Wist is representing the winning tenderer Moventia & Smoove in the public procurement by Helsinki City Transport (HKL) of a city bicycle system, and in related contract negotiations and Market Court proceedings. The Market Court has pursuant to an interim decision granted leave to enforce the procurement despite a pending appeal by a competing tenderer.
Value: some EUR 13 million + outdoor advertising income