Mazanti Pulse
Delivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
ESA issues Joint Supervisory Statement on the Application of Scope of the PRIIPs Regulation to Bonds
The statement seeks to mitigate the risk of divergent application, by national competent authorities, for determining the type of bonds for which it is necessary to draw up a Key Information Document (KID).
Disclosure RequirementsESMAKID / PRIIPSESA issues Consultation Paper on Amendments to the Existing PRIIPS Regulation
On 16 October 2019 ESA has issued a consultation paper on amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
Disclosure RequirementsESMAKID / PRIIPSMazanti Pulse
Delivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
ESMA Preparations for a No-Deal Brexit
ESMA has issued updated statements in relation to its approach to the application of some key MiFID/MiFIR II provisions in case of a no deal Brexit.
BrexitProposal to Adjust the Danish Rules on Taxation of Carried Interest
The Danish Government has presented a proposal for an amendment of various acts, including the Danish Tax Assessment Act and the Danish Act on Taxation of Capital Gains on Shares.
Management RemunerationProposal to Increase Certain Requirements for Managers under the AIFM and AML Act Published for Consultation
On 28 August 2019 the Danish FSA (in Danish: Finanstilsynet) published for consultation a draft proposal to change, among others, the Danish AIFM Act and the Danish AML Act.
ComplianceDanish RegulationKYC / AMLWhistleblowingESMA Publishes Responses to Regulatory Technical Standards under ELTIF
On 2 July 2019, ESMA has published the responses received to its consultation on draft regulatory technical standards under the ELTIF Regulation.
ESMA Updates Q&A on AIFMD
The Q&A document provides responses to questions posed by the general public and competent authorities in relation to the practical application of the AFIDM.
Cross-Border Contributions
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 InvestorsCross-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 CapitalEU 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-MarketingDocument 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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