Mazanti Pulse

Delivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.

26 May 2020AIFsUpdates

ESA Consults on Fund Managers’ ESG Disclosure Obligations

The European Supervisory Authorities (ESA) has published draft technical standards setting out detailed rules on i.a. fund managers’ obligations under the ESG Disclosure Regulation.

AIFMDComplianceDisclosure RequirementsSustainability
9 May 2020Taxation / VATUpdates

Entry into Force: Guidance Signal Excluding Certain Alternative Investment Funds from VAT Exemption on Management Fees

On 7 May 2020, a guidance signal which excludes certain alternative investment funds from VAT exemption on management fees entered into force.

Danish RegulationManagement Remuneration

Mazanti Pulse

Delivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.

9 May 2020Taxation / VATUpdates

Commission Proposes Deferral of Certain DAC6-Related Time Limits

Due to the COVID-19 crisis, the European Commission has put forward a proposal for a directive that will defer certain time limits of DAC6, the EU directive regarding mandatory reporting in relation to arrangements with cross-border implications.

ComplianceDAC6
28 Apr 2020Taxation / VATUpdates

Call to Defer DAC6 Reporting

A group of financial associations, including Invest Europe, has requested a deferral of the DAC6 reporting obligation until 2021 across all member states and the UK.

ComplianceDAC6
3 Apr 2020AIFs

COVID-19: Special Valuation Guidance for Estimating Fair Value is Published

To help fund managers address the consequences of the COVID-19 pandemic in portfolio company valuations, the International Private Equity & Venture Capital Valuation Guidelines Board has published special valuation guidance for estimating fair value.

Valuation
11 Feb 2020Corporate RegulationUpdates

Sustainability Related Disclosure Requirements in the Financial Service Sector

The European Parliament and the Council have adopted a new regulation as a part of the European Commission’s action plan on sustainable finance and marks an important step in the Commission’s action plan.

Sustainability
20 Jan 2020Financial RegulationUpdates

The Danish FSA (Finanstilsynet) Strengthens Supervision within Anti-money Laundering and Counter Terrorist Financing

The Danish FSA has announced that they are strengthening their supervisory activities within anti-money laundering and counter terrorist financing by implementing a number of new measures.

KYC / AML

Cross-Border Contributions

23 May 2019AIFs

EU Parliament Approves Final Compromise to Amend AIFMD

Highlights include a definition of pre-marketing, rules on de-notification in countries with no investor interests and rules on facilities made available to retail investors.

AIFMDCross-BorderMarketingPre-MarketingRetail Investors
16 Apr 2019AIFsArticlesEuVECA

Cross-Border Distribution of Collective Investments Undertakings

On 16 April 2019, the European Parliament adopted the European Commission's initiatives to improve the efficiency of cross-border distribution of Alternative Investment Funds (AIFs) and EuVECA funds by increasing transparency and harmonising diverging national rules.

AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture Capital
16 Apr 2019AIFsEuVECA

EU Parliament Approves Final Compromise on Proposed Regulation on Cross-Border Distribution of AIFs

The new regulation establishes uniform rules on i.a. fees and charges, and it amends the EuVECA regulation to include a pre-marketing definition.

Cross-BorderMarketingPre-Marketing

Document Generator

1. Articles of Association

The rules for the company defining i.a. the responsibilities of the management, the kind of business to be undertaken, and how the shareholders exert control over the company. The articles of association may be altered during the lifetime of the company by the general meeting.

2. Memorandum of Association

The resolution made by the founders to form the company. The memorandum is not altered during the lifetime of the company.

3. Rules of Procedure of the Board of Directors

The internal regulations of the company's board of directors in conducting its business.

4. Shareholders’ Register

The company’s register of its shareholders and the allocation of the share capital and votes between them.

1. Term Sheet

A (non-binding) commercially negotiated agreement setting forth the basic terms and conditions under which an investment will be made. It serves as a template to develop more detailed legally binding documents.

2. Investment Agreement (coming soon)

An agreement establishing the terms of an investment specifying such things as the amount of the investment and the rights and obligations of the investor, the founders and the target company.

3. Minutes of General Meeting (coming soon)

Minutes of the shareholders' meeting enacting the new articles of association and the new members of the board of directors elected by the shareholders.

4. Shareholders’ Agreement (coming soon)

An agreement amongst the shareholders of the company setting forth how the company should be operated and regulates shareholders' rights and obligations.

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