Dmitriy Glazounov is a prominent legal expert on the Russian financial market. Before joining Egorov Puginsky Afanasiev & Partners in 2014, he was the Managing Partner at Liniya Prava, and, prior to that, he held top positions with the Federal Commission for the Securities Market of Russia and the Agency for Housing Mortgage Lending OJSC.
Dmitriy is the sole representative of the legal community on the Bank of Russia’s Expert Board on Development of the Bonds and Debt Instruments Market, which is a working group responsible for developing legislation essential for the Russian financial market, including the Federal Law “On the Securities Market”, amendments to the Russian Civil Code, the Federal Laws “On Joint-Stock Companies”, “On Mortgage Securities”, “On Mortgage (Real Property Pledges)”, etc.
Dmitriy is recommended in a number of legal publications, including The Legal 500, which recognises him for his capital markets experience, Legal Experts EMEA for M&A and corporate, and GlobalLawExperts for securitisation.
Dmitriy is a member of the Expert Board for Competition Protection on Financial Services Markets under the FAS of Russia (the Banking Services Market Subpanel and the Securities Market Subpanel), the AHML OJSC Supervisory Board’s Strategic Planning Committee, the Expert Board for Development of the Bonds and Debt Instruments Market under the Bank of Russia, the Legal Committee of the National Securities Market Association (NSMA) and the Independent Directors’ Association. In 2016 he became a member of the Securitization of Financial Assets Expert Committee of the Central Bank of the Russian Federation.
Dmitriy's team has unique experience for the Russian market of supporting complex financial transactions (including securitisation and project finance), issuing tailored financial products (mortgage participation certificates, foreign-issued securities placed in the Russian Federation, and foreign currency bonds), corporate restructuring, debt restructuring and participating in major projects related to securities issues, company entry on to the IPO market, and M&A and corporate law matters.
Dmitriy's clients include BNP Paribas, Morgan Stanley, Citibank, VTB Capital, Renaissance Capital, VEB Capital, Uralsib capital; MGTS; Federal Freight; ZENITH Bank; Miratorg Agro-Industrial Holding and many others.
One of Dmitriy Glazounov's key accounts is the Agency for Housing Mortgage Lending OJSC (AHML), for which he implemented a number of large-scale projects impacting directly on the Russian mortgage market, including development of the AHML Housing Mortgage Lending Standards, establishment of the Association of Mortgage Companies and of the Self-Regulating Organisation of AHML’s Regional Operators, and following-up on AHML’s legislative initiatives (including those related to custodian accounting of bills of sale, electronic bills of sale, distressed debt recovery simplification, etc.) and so on.
Dmitriy and his team have taken part in developing legislation of vital importance to the financial market, including the Federal Law “On Mortgage Securities”, Federal Law No. 379-FZ of 21 December 2013 amending the Federal Law “On the Securities Market”, “On Banks and Banking” and other legislative acts regulating securitisation and project finance, the Federal Law “On Combating Illegitimate Use of Insider Information and Market Manipulation”, etc.
Dmitriy Glazounov’s team is regularly involved in the activities of the financial market regulator (the Central Bank of the Russian Federation as of now; formerly the Federal Service for the Financial Markets of Russia and the Federal Securities Commission of Russia), contributing to development of the Issue Standards, the Regulation on Disclosure, the draft regulatory acts required for introducing mortgage participation certificates, as well as orders regulating the activities of the General Bondholders Meeting and those of such bondholders’ representatives.
Dmitriy Glazounov is an Active State Counsellor of the Russian Federation, 3rd class. In January 2012, he was awarded a certificate of honour of the Russian Ministry for Economic Development for his major contribution to the negotiations on Russia joining the WTO.
He graduated from the Faculty of International Law at the Moscow State International Relations Institute of the Russian Ministry of Foreign Affairs in 1996. He has been admitted to the Moscow Bar Association.
Dmitriy and his team’s projects include the following:
- the initial securitisation of unsecured loans (for the benefit of the Bank of Khanty-Mansiysk);
- securitisation of one of the biggest loan pools;
- the first balance-sheet securitisation of MIA CB OJSC’s loan agreement portfolio;
- other issues of mortgage-backed bonds (for the benefit of VTB, the Agency for Housing Mortgage Lending OJSC, Credit Europe Bank CJSC, Uralsib Bank, the Housing Finance Bank, the Moscow Bank for Reconstruction and Development, etc.);
- corporate restructuring of SUEK OJSC, Pharmstandard OJSC, a number of Rosatom State Corporation’s companies, Comstar Group and the Tractor Plants Group;
- supporting a number of project finance transactions (for the benefit of Mechel Mining OJSC, ROSNANO OJSC, etc.);
- supporting the KES Group’s transition to “unified shares”;
- supporting projects involving the shareholder capital of the FGS of UES OJSC, of a number of Rosatom State Corporation companies, the X5 Retail Group (PEREKRESTOK Trade House CJSC, KOPEYKA Trade House CJSC), Sukhoi Civil Aircraft CJSC, etc.;
- advising MICE on its merger with RTS;
- corporate restructuring of NDC-NSD (including DDC’s transition from a non-commercial partnership to a closed joint-stock company, advising on complex matters of securities accounting and settlements);
- advising professional securities market players (Brokercreditservice, Region Group, IFD Capital, IFK Metropol);
- supporting a number of big companies (including Transneft JSC, FGS of UES OJSC, Power Machines OJSC) on complex matters of the joint-stock companies law;
- the first issue of foreign currency corporate bonds involving foreign-currency settlements (for the benefit of VEB-Leasing);
- the first issue of mortgage participation certificates (jointly with AHML and GFT Capital Company);
- facilitating the first issue of foreign state bonds placed in Russia (jointly with Sberbank, for the benefit of the Republic of Belarus);
- advising the International Investment Bank (jointly with VEB-Capital) on placing of the international financial institution’s bonds on the Russian market;
- advising Lukoil OJSC on developing complex financial products;
- participating in providing legal support for acquisition of Absolut Bank for the benefit of NPF Blagosostoyanie, as well as supporting numerous other securities market projects for this non-governmental pension fund;
- supporting large-scale M&A projects for the benefit of MTS OJSC, TNK-BP, Alpha Group, Leroy Merlin, X5 Retail Group, etc.;
- advising Nafta Moskva on purchasing a major equity interest in Uralkali OJSC;
- providing support for corporate procedures related to a voluntary and/or mandatory offer, as well as to a squeeze out with regard to Vorkutaugol OJSC (for the benefit of the Mining Holding Company belonging to the Severstal Group), Energospetsmontage OJSC (for the benefit of Atomenergoprom OJSC), Khimprom OJSC, RTC OJSC (for the benefit of Comstar-OTC OJSC), as well as participating in the above procedures with respect to purchase of shares in Baltika Breweries OJSC.