On 21 December 2023, the Danish Financial Supervisory Authority published a draft executive order on a new green investment scheme for consultation.
Danish RegulationSustainabilityOn 1 July 2023, a revision of the Investment Screening Act (the “Act”) entered into force. The revision revolves around two areas: public contracts and administrative procedures.
Danish RegulationGovernanceOn 18 April 2023, the Danish Parliament adopted the proposal to amend the financial regulation presented by the Danish Government, which includes amendments to the rules on fit & proper assessments.
Danish RegulationGovernanceOn 18 April 2023, the Danish Parliament has adopted the proposal to amend the Danish financial regulation, including the Danish Alternative Investment Fund Managers Act.
Danish RegulationDisclosure RequirementsManagement RemunerationOn 8 March 2023, a proposal for changes of the Investment Screening Act (the “Act”) was submitted for public consultation. The Act has been in effect since 1 September 2021, and based on the experiences with the Act this far, as well as the situation in and around Denmark, amendments to the Act have been deemed necessary.
Danish RegulationGovernanceOn 8 February 2023, the Danish Government presented a proposal for amendments in the Danish financial regulation, including the Danish Alternative Investment Fund Managers Act.
Danish RegulationDisclosure RequirementsManagement RemunerationOn 1 January 2023 new rules have imposed stricter requirements for targets and policies on the gender composition of managements. These rules cover both large Danish companies (covered by accounting class C), including state-owned and some listed companies (covered by accounting class D), as well as certain companies within the financial area
ComplianceDanish RegulationSustainabilityLately, EU has sharpened its focus on preventing greenwashing as well as strengthening the sustainability reporting requirements. One step, among others, is the recent passing of the CSRD. Another is a proposal published in March 2022 by the European Commission with amendments for the Directive 2005/29/EC on Unfair Commercial Practices (UCPD) as well as the Directive 2011/83/EU on Consumer Rights.
Cross-BorderDanish RegulationSustainabilityFollowing the amendments, enacted on 9 June 2022, the corporate tax rate applicable to financial companies has increased from 22 percent to 25.2 percent as per 1 January 2023 and will increase to 26 percent in 2024.
Danish RegulationManagement RemunerationOn 6 April 2022, the Danish Government presented a proposal for an amendment of, among others, the Danish Corporation Tax Act.
Danish RegulationManagement RemunerationThe Commission has postponed the date of application of the detailed regulatory technical standards (RTS) under the ESG Disclosure Regulation and the Taxonomy Regulation by six months from 1 January 2022 to 1 July 2022.
ComplianceCross-BorderDanish RegulationThe Commission has answered a number of questions from the European Supervisory Authorities (ESAs) regarding the ESG Disclosure Regulation.
ComplianceCross-BorderDanish RegulationOn 19 and 20 April 2021, the Danish tax authorities published two rulings from the Tax Assessment Council (in Danish: Skatterådet) regarding reclassification of tax transparent entities
Danish RegulationOn 21 August 2020, the Danish Ministry of Taxation published for consultation a draft proposal according to which previously adopted amendments to the Danish Tax Assessment Act concerning the tax treatment of equity compensation to employees in “start-ups” will enter into force on 1 January 2021.
Danish RegulationVenture CapitalOn 7 May 2020, a guidance signal which excludes certain alternative investment funds from VAT exemption on management fees entered into force.
Danish RegulationManagement RemunerationOn 7 November 2019 the Danish Tax Agency presented its guidance signal concerning the rules on VAT exemption for management fees for management of investment undertakings.
Danish RegulationManagement RemunerationOn 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 / AMLWhistleblowingTransfer 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 RegulationGDPROn 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 RegulationGDPRDelivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
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