Financial rules affecting the management of Alternative Investment Funds (AIFs) or the marketing of alternative investment products, including retail markets and KID/PRIIPs regulation as well as Know Your Customer (KYC) and Anti Money Laundering (AML) requirements.
As of today, the NIS-2 Directive (“NIS2”) applies to the most important IT suppliers to the financial sector.
DORANIS2On 19 June 2024 EU’s new Anti-Money Laundering package was announced. The new AML package has been long in the making, and the Commission presented its package of legislative proposals as early as July 2021.
KYC / AMLOn 2 May 2024, the Danish Parliament adopted an amendment to the Danish Financial Business Act to provide the Danish FSA with a legal framework for supervision of the financial sector under the DORA Regulation and the NIS-2 Directive.
DORANIS2The 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 / PRIIPSOn 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 6 September 2021, The EU Commission amended the EU delegated regulation for the presentation of the Key Information Document (“KID”).
KID / PRIIPSThe Danish FSA has assessed the quality of 4 pension companies and eight credit institutions' website disclosures with regards to information about their policies on the integration of sustainability risks in the investment decision-making process.
AIFMDComplianceDisclosure RequirementsSustainabilityThe European Commission has once again delayed the application of the level 2 obligations of the Sustainable Finance Disclosure Regulation (SFDR) until January 2023.
AIFMDComplianceDisclosure RequirementsSustainabilityOn 21 July 2021, the European Commission presented a package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules.
KYC / AMLThe EU Commission has amended the EU delegated regulation for the presentation and the content of the Key Information Document (KID) that sets out information on risks, rewards and costs to be given to retail investors (i.e. non-professional investors) in good time before they invest in alternative investment funds etc.
KID / PRIIPSThe Commission has completed a public consultation on the proposal for a EU Green Bond Standard. The consultation proposes to use the EU Taxonomy to define green bonds.
AIFMDSustainabilityThe 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 / AMLThe 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 / PRIIPSOn 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 / PRIIPSESMA 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.
BrexitOn 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 / AMLWhistleblowingThe report is part of the EU Commission’s overall effort to create a unified standard for sustainable economic activities in the European Union, which is expected to significantly impact the private equity and venture capital industry.
AIFMDDisclosure RequirementsGovernanceMarketingOn 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 / AMLOn 30 April 2019, the European Securities and Markets Authority (ESMA) published its final report on integrating sustainability risks and factors relating to environmental, social and good governance considerations in the AIFMD and UCITS Directive.
AIFMDESMAGovernanceRegulatory Technical StandardsRisk ManagementSustainabilityOn 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 / AMLDelivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
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