Structured financial services in Russia

TMF Group is one of the largest and most experienced administrators of structured finance entities in the world, providing services to more than 2,000 special purpose vehicles (SPVs) across all leading onshore and offshore jurisdictions. We deliver a seamless, fully integrated service across the globe and provide a single point of contact for all international structures.

In Russia, TMF Group is a pioneering player in structured financial services, having been the first to enter the market, in 2006. We now have a team of 35 lawyers and accountants based in Russia, and our operations are backed up by a solid IT infrastructure.

We provide the full scope of administrative and accounting services for domestic securitisation deals with different types of assets, as well as offering tailored support for transborder transactions.

Domestic deals

Shareholder services

  • incorporation and maintenance of shareholders of Russian SPVs

Bondholder representative services

Incorporation and management company services

  • incorporation of Russian SPVs in the form of the mortgage agents, along with specialised financial organisation, etc.
  • opening of different type of bank accounts (including escrow and pledge accounts) for SPVs
  • obtaining different types of approvals from anti-monopoly authorities, if applicable
  • representing SPVs’ interests in the process of bond emission and placement
  • information disclosure services, including the preparation and filing of quarterly reports
  • ongoing management and corporate secretarial services

SPV liquidation services

Bookkeeping and tax compliance services

  • maintenance of SPVs’ statutory books and records
  • filing of all returns and declarations required by local companies legislation
  • transaction accounting including the preparation of statutory accounts and financial statements
  • tax preparation and filing (VAT and corporate income tax)
  • IFRS reporting, if applicable
  • audit coordination

Transborder transactions

Data agent services

Securitisation services

The first laws on securitisation (Federal Law N. 152-FZ on Mortgage-Backed Securities) were introduced in Russia in 2003. Since the first deal was finalised in 2006, securitisation has been a relevant tool for the development  of long-term financing in the area of mortgage lending. It is used regularly by banks and private investors. The new Russian structured finance legislative platform (Law N.379-FZ on Introduction of Amendments to Certain Legislative Acts of the Russian Federation), which was enacted in 2013, is a positive sign for the Russian structured finance market as it contains the key elements required for a broad range of securitisation (car loans, factoring payments, leasing payments, etc.) and project finance structures. TMF Group entities are included in the registers of the Central Bank of Russia as professional organisations that provide services for management companies and bondholder representatives.

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