The Danish FSA (Finanstilsynet) Strengthens Supervision within Anti-money Laundering and Counter Terrorist Financing
Published 20 January 2020
Category: Financial Regulation
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:
- A joint risk score model, which will help the FSA assess which companies are in high risk of being misused for money-laundering or financing of terrorism, based on data reportable by the entities under supervision;
- An inspection manual to help heighten and uniform the quality of the inspection;
- A catalogue of supervisory methods which will be used to test supervisory activities other than inspections.
The new efforts aim at increasing the quality and efficiency of the Danish FSA’s supervision.
The press release from the Danish FSA is available here.
Tags: KYC / AML
Also tagged ‘KYC / AML’
Restrictions on Public Access to Beneficial Ownership Information
The Danish Business Authority reannounced that new restrictions on public access to information regarding beneficial owners in the Danish Business Register will be implemented.
Beneficial OwnershipKYC / AMLEU’s new Anti-Money Laundering package announced
On 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 / AMLProposal for Stronger EU AML/CFT Rules
On 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 / AMLProposal 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 / AMLWhistleblowingDanish 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 / AMLProposal 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 / AMLOther updates
The Danish Financial Supervisory Authority has published a new Q&A about the inclusion of leverage in the calculation of assets under management
The Q&A is issued to address uncertainties regarding the inclusion of leverage.
AIFMDDanish RegulationESMAThe Danish FSAInvest Europe has published the 2025 ESG reporting template
This voluntary template aims to standardize the collection of data and investor reporting on ESG matters on GP, fund and portfolio company level.
CSRDSFDRSFDR 2.0 proposal
The European Commission has proposed amendments to the SFDR (the “Proposal”), introducing major changes to the current framework.
Disclosure RequirementsSFDRSustainabilityThe Danish FSA publishes report on investigation concerning principal adverse impacts
FSA has looked at how 15 financial market participants have considered principal adverse impacts of their investment decisions on sustainability factors.
SFDRSustainabilityThe Danish FSALegislative proposal for the Danish implementation of parts of the “stop-the-clock” directive
With Bill No. L 13, companies that have not yet reported under the CSRD rules will be subject to a two-year postponement in the requirements.
SustainabilityESMA publishes draft Regulatory Technical Standards on open-ended loan-originating AIFs
ESMA has published the draft Regulatory Technical Standards (RTS) on open-ended loan-originating alternative investment funds (AIFs).
AIFMDESMARegulatory Technical StandardsRisk Management