Tagged: Compliance

5 Aug 2020Taxation / VATUpdates

Deferral of Certain DAC6-Related Time Limits

On 29 June 2020, the Danish minister of taxation issued an executive order which defers certain DAC6-related time limits.

ComplianceDAC6
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

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
6 Nov 2019Taxation / VATUpdates

Proposal to Transpose DAC6 into Danish Law Presented in the Danish Parliament

On 6 November 2019 the Danish government presented its proposal to transpose the EU directive regarding mandatory reporting in relation to arrangements with cross-border implications (“DAC6”) into Danish law.

ComplianceDAC6Disclosure Requirements
24 Sep 2019Financial RegulationUpdates

Proposal 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 / AMLWhistleblowing
2 Jul 2019Other Compliance Requirements

Japan Deemed a Sector Specific, Safe Third Country by the Danish DPA

Transfer of personal data from Denmark to (private) organisations in Japan that are subject to the APPI will not require prior approval from the DPA.

ComplianceDanish RegulationGDPR
11 Jun 2019Other Compliance Requirements

Danish Company Faces Prosecution and a Fine of DKK 1.5 mill. for GDPR Violation

On 11 June 2019, the Danish Data Protection Agency ("DPA") has reported a Danish furniture company to the Danish police for not deleting information on approx. 385,000 customers.

ComplianceDanish RegulationGDPR
23 May 2019Taxation / VAT

DAC6 Expected to be Transposed into Danish Law in Second Half of 2019

DAC6, the new EU directive regarding mandatory reporting in relation to arrangements with cross-border implications DAC6, will increase reporting requirements for arrangements that have cross-border implications.

ComplianceDAC6Disclosure Requirements
2 May 2019Corporate RegulationFinancial Regulation

Danish Parliament Strengthens Registration Requirements of Ultimate Beneficial Owners

On 2 May 2019, the Danish Parliament adopted amendments to the Danish Companies Act, which implements part of the 5th EU Anti-Money Laundering Directive.

Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AML
25 Mar 2019Other Compliance Requirements

Fine of DKK 1.2. mio. Recommeded for Taxi Company’s Storage of Costumer Phone Numbers

On 25 March 2019, the Danish Data Protection Agency submitted a notice to the Danish police regarding a Danish taxi company’s violation of GDPR for storage of customer phone numbers.

ComplianceDanish RegulationGDPR
13 Mar 2019Corporate RegulationFinancial Regulation

Proposal to Strengthen the Registration of Ultimate Beneficial Owners

On 13 March 2019, the Danish Government presented a proposal for an amendment of various acts including the Danish Companies Act which implements part of the 5th EU Anti-Money Laundering Directive concerning the registration of ultimate beneficial owners.

Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AML
27 Feb 2019Financial Regulation

New Proposal to Implement Authority to Enforce the PRIIPS-Regulation Into Danish Law

On 27 February 2019, the Danish Government presented a proposal for an amendment of the Danish AIFM Act giving the Danish Financial Supervisory Authority competence to enforce the PRIIPs regulation.

ComplianceDanish RegulationDisclosure RequirementsKID / PRIIPSWhistleblowing

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