24 Nov 2023Impact and ESGUpdatesThe Environmental Delegated Act introduces technical screening criteria for economic activities substantially contributing to one of the remaining four environmental objectives.
Sustainability
1 Nov 2023Financial RegulationUpdatesOn 20 October 2023, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) released a Consultation Paper outlining two sets of draft joint guidelines regarding suitability assessments concerning issuers of asset referenced tokens (ARTs) and crypto-asset service providers (CASPs).
Crypto-assetsESMAMiCA
25 Oct 2023Impact and ESGUpdatesOn 17 October 2023, the EU Commission adopted their 2024 Commission Work Programme focusing mainly on strengthening EU’s competitiveness through reduction of burdens on businesses and rationalisation of reporting requirements.
GovernanceSustainability
25 Oct 2023Impact and ESGUpdatesOn 17 October 2023, the EU Commission and the advisory body, Platform on Sustainable Finance, introduced the EU Taxonomy Stakeholder Request Mechanism.
Sustainability
19 Oct 2023Impact and ESGUpdatesIn June 2023 the European Commission published and adopted a sustainable finance package with measures to expand and strengthen the EU sustainable finance framework. This update provides a closer overview of those measures which are now subject to scrutiny by the European Parliament and the Council.
Regulatory Technical StandardsSustainability
17 Oct 2023Impact and ESGUpdatesOn 13 October 2023, the legislative proposal for implementation of the Corporate Sustainability Reporting Directive (“CSRD”) and a number of appertaining executive orders went out for consultation.
Sustainability
9 Oct 2023Taxation / VATUpdatesOn 3 October 2023, an advance tax ruling was published according to which the National Tax Board has decided that an investment product structured as a Simple Agreement for Future Equity (SAFE) was not a “subscription right” covered by the Danish Share Capital Gains Act but was deemed a “financial contract” governed by article 29 of the Gains on Securities and Foreign Currency Act
Venture Capital
19 Sep 2023Financial RegulationUpdatesThe European Commission has earlier this year published a number of targeted proposals to amend the PRIIP Level 1 Regulation, implementing more modern rules on how a PRIIP Key Information Document (KID) is provided to investors. The proposed changes aim to change the content of the (KID) which must be provided to retail investors before investing.
KID / PRIIPS
19 Sep 2023Impact and ESGUpdatesOn 13 September 2023, the Danish Corporate Governance Board published their annual account for 2022-2023. The account contains a status on the CSDD Directive which is still negotiated in the EU.
Sustainability
22 Aug 2023Impact and ESGUpdatesThe progress reports are a result of a push from stakeholders requesting greater market integrity, investor protection and trusted environments for sustainable investments as sustainability has become an important competitive factor.
ESMASustainability
11 Aug 2023Impact and ESGUpdatesOn 31 July 2023 the European Commission adopted European Sustainability Reporting Standards (ESRS) which are mandatory standards for companies under CSRD to use when reporting on sustainability information.
Sustainability
7 Jul 2023UpdatesOn 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 RegulationGovernance