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TGS Baltic

Work +372 626 4300
Fax +372 626 4306
Riga, Tallinn, Tartu, Vilnius

Dr Jur Marko Kairjak

Work +372 626 4300
TGS Baltic

Work Department

Banking & Finance, Private Equity, White-Collar Crime


Marko Kairjak is an accomplished expert in compliance and regulatory matters. He has advised clients both in the financial regulatory field and in a number of financing transactions, including advising on public offerings. He has advised in establishing several crowdfunding platforms and their expansion to other countries.
Marko Kairjak has been advising leading Estonian fund managers such as Swedbank Investment Funds and SEB on regulatory and transactional issues on a regular basis. He has advised fund managers in cross-border issues related to the reorganization of Estonian funds and Luxembourg fund-of-funds as well as in the reorganization proceedings of the only risk capital fund in the Baltics – GILD Arbitrage. His competence includes dealing with the FSA of Estonia and Luxembourg on regulatory matters and has represented various financial market participants before the FSA.
He is also an experienced project financing lawyer, having advised DVB America AS on restructure of the 71MEUR ferry financing facility and involved in all the recent bond issue financing transactions on the Estonian market. Marko
Kairjak was the chairman of the EMIR Refit team during the presidency period of Estonia in the EU in 2017.
Marko Kairjak also has extensive experience in advising clients on white-collar crime including matters concerning corporate criminal liability as well as tax and competition offences. He has represented clients in cases of investment fraud, bribery and money laundering. He is well known for his work in competition investigations. Marko Kairjak is a criminal law lecturer at the University of Tartu. Since 2010 he is the head of the work group organized by Ministry of Justice reviewing economic criminal offences.


2017 to date Partner, Attorney-at-Law, Law Firm TGS Baltic (formerly VARUL)
2017 Chairman of the EMIR Refit team, Estonian Presidency of the Council of the EU
2017 Visiting Scholar, HU Berlin
2015–2017 Partner, Law Firm VARUL
2015 Visiting Scholar, Kaliningrad University
2014 European Commission, DG Markt, Unit G3
2013 Visiting Scholar, Osnabrück University, Institute of Economic Criminal Law
2011–2015 Senior Associate, Law Firm VARUL
2010 Visiting Scholar, Georg-August-Universität Göttingen
2010 Intern, Covington & Burling (London)
Since 2007 Part-Time Lecturer, University of Tartu, Faculty of Law
2005–2011 Associate, Law Firm VARUL


Estonian, English, German, Russian


European Fraud and Compliance Lawyers since 2015
European Criminal Bar Association since 2013
Estonian Bar Association since 2008
Estonian Legal Science Society since 2007


2015 University of Tartu, Faculty of Law, PhD
2010 Cambridge University, Faculty of Law, LLM
2007 Westfälische Wilhelms-Universität Münster (Germany), Faculty of Law (Student Exchange Program)
2007 University of Tartu, Faculty of Law, MA (cum laude)
2005 University of Tartu, Faculty of Law, BA


Banking, finance and capital markets

Within: Next generation lawyers

Marko Kairjak - TGS Baltic

Within: Banking, finance and capital markets

TGS Baltic recently advised Novaturas on its €22m IPO in conjunction with the firm's Vilnius office. Practice head Marko Kairjak recently advised Endover on term sheet negotiations with CVI Dom Maklerski. The group's experience in crowdfunding was again evident, with the firm advising Argeld on setting up its real estate crowdfunding platform and related refinancing matters. Other key clients include EstateGuru and TavexWise.

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