We advised Limestone Platform on innovative financial regulation issues

We have advised the client on meeting the fund manager requirements, which set a precedent both in Estonia and the European Union (EU). In addition to this, we have been advising the client on various issues related to corporate and financial law.

Limestone Platform is a licensed fund manager, overseen by the Estonian Financial Supervisory Authority (FSA). What sets Limestone Platform apart from other fund managers in Estonia is their branch in Luxembourg, which allows them to provide additional services. 

Our primary area of support for Limestone Platform focused on capital-related matters, particularly the requirements for own funds in relation to fixed overhead costs. We helped Limestone Platform prepare an application, in accordance with Estonian law and EU regulations, to reduce the minimum own funds requirement based on fixed overheads. In addition, we successfully represented Limestone Platform before the FSA, and this case created a precedent for both Estonia and the EU, as no other EU fund manager had ever submitted a similar request, leaving no established guidelines for resolving the situation. 

We also provided ongoing advice to Limestone Platform on other matters, including company law, financial regulation, supervisory topics, and communication with the Estonian FSA as needed.