DL Corporate & Regulatory

Managing Partner:Remi Delforge

Number of partners:2

Number of lawyers:5

Languages:English, French, Italian, Spanish, Armenian, German

Firm Overview: 

DL Corporate & Regulatory is a corporate and transactional law firm in Monaco with strong focus on M&A, banking, securities, commercial and sport laws. The Firm is regularly involved in Monaco’s major acquisitions, disposals and financings in Private Banking, Shipping, Telecommunications, IT, Hotel & Entertainment and Sports areas.

The firm was founded by Remi Delforge who has been a highly-regarded lawyer in Monaco since 1998 and consistently named Lawyer of the Year in particular in M&A, Corporate and Banking. He has an extensive track record in acquisition deals and restructurings in the banking and financial sector over the last 20 years in the Principality. The firm is one of the largest dedicated corporate teams in Monaco. It is active in securities transactions, financings and regulatory work, in particular in banking/financial services and sports law. The Firm’s lawyers also have industry backgrounds, understanding from the inside the practical necessities ofclients. Lawyers in the team also worked as in-house counsel with multinational groups, banks or with regulators.

Main Areas of Practice:  

Banking/Finance: 

2 partners; 3 associates based in Monaco.

The firm assists international and local banks and asset management companies on:

• Regulatory compliance on banking and financial matters as well as data protection and secrecy (cross-border application of MiFID II, PRIIPS, PSD2, CRD5, GDPR, etc.), including assistance in subordinated loans meeting Additional Tier 1 capital requirement;
• Preparing client documentation for banks and asset management firms; adapting standard contracts to Monaco law (mortgaged lending, securitisation and perfection formalities);
• Outsourcing projects involving both internal Group and third-party IT service providers
• Advising, drafting and implementing contractual documentation including distribution agreements, ISDA, FBF and Swiss Master Agreements swap derivative and netting transactions;
• Structuring innovative banking projects, such as mobile banking applications and implementation of e-signatures;
• Preparation and update of internal Cross-border Manuals and Guidelines for major banking and financial institutions;
• Secured lending transactions, refinancing projects including cross border lending and securitization/collateralization.

Key Clients:Major banking and financial groups and their advisors (international law firms in particular ‘Magic Circle’)

Corporate/M&A: 

2 partners; 3 associates based in Monaco.

The firm is a major player in corporate transactions and high-value deals in Monaco as well as regulatory advice including change of control filings and authorisations with various regulators. The firm has recently assisted in several M&A transactions in the private banking areas as well as in other business sectors, such as aviation, sport media rights, artificial intelligence and luxury groups. DL Corporate & Regulatory was also heavily involved in strategic restructurings for international banking groups, including ‘branching out’ projects.

The firm regularly teams up with other international law firms (and in particular ‘Magic Circle’ firms) in multijurisdictional projects and audits involving Monaco companies, providing structuring assistance, regulatory and legal advice in a wide range of Monaco corporate matters (e.g. tax structuring, capital increases, corporate governance, labour law, data protection compliance) and assists clients in management and human resources restructurings pre and post-transaction as well as divestments and company closures. DL Corporate & Regulatory has repeatedly been named Corporate and M&A Law Firm of the Year in Monaco.

Key Clients:Major players in industries well represented in Monaco: banks, IT, sports, luxury goods, investments funds and Hotel chains.

Regulatory  

2 partners; 3 associates based in Monaco.

The Firm has a solid track record in setting up investment management and advisory companies/funds in Monaco and dealing with the Financial regulator.In addition to regulatory filings for banking M&A transactions and change of control,DL Corporate & Regulatory has recognized expertise in preparing and filing applications with the Monaco Data Protection Authority for the processing of personal data in Monaco for banks, retail companies, Sports Federations/Clubs and luxury goods.The Firm regularly assist its clients with their regulatory notifications with the Monaco financial activities regulator as a result of change of control and internal restructurings. The Firm regularly assists in the preparation of cross-border guidelines for major Swiss, UK and French Private Banking Groups.

DL lawyers provide training on Monaco AML laws and compliance subjects to personnel of banks, asset management firms and other law firms. In the Automotive, Entertainment and new technology industries, the Firm is increasingly retained for assistance in the implementation of global projects, such as mobile applications, download/streaming platforms, connected cars, advertising through social networks, NFTs, etc.

With Monaco’s major public works going on (seabed extension, construction projects for new world-class hospital and other public works implementing the Principality’s smart city project called “Extended Monaco”), the Firm was retained to advise on corporate, regulatory and contractual due diligence by major international new tech companies (including GAFAM) to assist in public tenders.One of the salient features of the development of our practice was our involvement in IT mandates, both organisational and as a result of hackings of major groups.

Corporate Finance/Capital Markets: 

2 partners; 3 associates based in Monaco.

The firm regularly assists lenders, borrowers and issuers in major financing and re-financing transactions as well as rights issues, exchange offers and similar schemes.

The firm’s assistance includes regulatory and tax structuring, transactional advice and preparing legal opinions on various aspects of corporate financing transactions such as capacity/authority of Monaco borrowers and guarantors, validity and enforceability of obligations taken by Monaco based counterparts.

The lawyers of the firm are familiar with Monaco law security and collateral documentation such as charges over bank accounts, financial instruments, goodwill and other types of assets, share pledges, mortgages, first demand guarantees, etc. to ensure compliance with Monaco public order provisions and formal requirements. DL Corporate & Regulatory has repeatedly been named Corporate Law Firm of the Year in Monaco.

Key Clients:Major banking groups and corporate borrowers

IT/Telecommunications: 

1 partner; 3 associates based in Monaco.

The firm is increasingly appointed to advise on IT regulatory, contract negotiation and assistance in the implementation of global projects, such as digital solutions, data storage, mobile applications, download/streaming platforms, connected cars, social networks communication, drone filming sessions, etc. With Monaco’s major public works going on (seabed extension, construction projects for new world-class hospital and other public works implementing the Principality’s smart city project called “Extended Monaco”), the firm was retained to advise on corporate and contractual matters for major international new tech companies, telecommunication operators and car manufacturers in public tenders processes and regulatory filings.

Key Clients:Major tech companies, car manufacturers, telecommunication and satellite operators

Data Protection: 

1 partner; 3 associates based in Monaco.

The firm has recognised expertise in data protection law and regularly advises on privacy policies and guidelines for banks, hotels, luxury groups, international data transfers and assists with regulatory filings required with the Monaco data protection regulator. Because the EU GDPR is not directly applicable in Monaco but has an extraterritorial application, the firm also helps its international clients structure their data processing to comply with both Monaco and EU regulations. The Firm has been involved in discussions regarding the new upcoming law on Monaco data protection implementing GDPR-like provisions in Monaco. Members of the Data Protection team are certified DPOs.

Key Clients:Major banking groups, tech companies, hotels, luxury companies

Sports: 

1 partner; 3 associates based in Monaco.

The firm and Remi Delforge have been the advisers of sports federations and clubs in Monaco for over 20 years, such as the Automobile Club de Monaco (ACM), Organiser of the Formula 1 Monaco Grand Prix, the Rallye de Monte-Carlo and the Monaco ePrix. The firm’s sports law practice has expanded over the years and DL Corporate lawyers assist sport and esports event organisers, sponsors, advertisers and teams in structuring their business relationships and promotion activities in Monaco, including TV/media and commercial rights. The firm can also assist in sport regulations, disciplinary resolutions and anti-doping issues. DL Corporate & Regulatory has repeatedly been named Sports Law Firm of the Year.

Key Clients:Sports Federations and Clubs, National Sporting Authorities, Event organisers, sport teams, sponsors and advertisers.