Financial Regulation

New Sustainability-Related Disclosure Requirements for Fund Managers

The Danish FSA (Finanstilsynet) Strengthens Supervision within Anti-money Laundering and Counter Terrorist Financing

The 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.

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).

ESA 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).

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.

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.

The EU Technical Expert Group on Sustainable Finance publishes their Taxonomy Technical Report

The 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.

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.

ESMA Submits Report on Sustainability Risks and Factors in the AIFMD and UCITS Directive

On 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.

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.

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.