Updates

Rolf Kjærgaard: Sustainability is Essential to Vækstfonden’s Investments

The Pitchbook Q3 EU Venture and Private Equity Reports

Pitchbook has published its European Venture Report for Q3 2021. as well as it European Private Equity Breakdown for Q3 2021. Get an outline of the highlights here.

Pitchbook Q3 Global M&A Report

Pitchbook has released its report on the Global M&A market in Q3 2021. In line with the VC and the PE market, the market for M&A has been recovering well from a slower year in 2020 and is seeing a lot of activity.

ESMA has Issued Guidelines on Marketing Communication

The guidelines apply to all marketing communication addressed to investors or potential investors for AIFs, including amongst others when they are set up as EuVECAs.

Proposal 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.

Insurance Companies Encouraged to Invest in Long-Term Equity by way of Capital Relief

The EU Commission has published a proposal to amend the EU insurance directive (known as "Solvency II") so that insurance companies can scale up long-term investments.

The EU Commission Contemplates Amendments to the Criteria Required to Qualify as a Professional Investor

The EU Commission has, as part of its strategy for retail investors, completed a consultation process that, among others, invited the industry to share its views on the existing professional investor categorization, including the introduction of a new category of professional investors, in MiFID II.

New Rules for the Calculation and Presentation of Risks, Rewards and Costs in Key Information Documents

The 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.

EU Platform for Sustainable Finance Calls for Feedback on a Social Taxonomy

The EU Platform on Sustainable Finance has published its draft reports on the merits and potential design of a social taxonomy.

Commission Delays Application Date for the ESG Disclosure and Taxonomy Regulations

The 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.

Commission Clarifies Questions of Interpretation Regarding ESG Disclosures

The Commission has answered a number of questions from the European Supervisory Authorities (ESAs) regarding the ESG Disclosure Regulation.

The Value Reporting Foundation – The Merger of IIRC and SASB

The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) has merged to form the Value Reporting Foundation. 

New Pre-Marketing Regime has been Transposed into Danish law

The new pre-marketing regime provided by the Cross-Border Directive has by 1 July 2021 been transposed into Danish law.

European Commission has Launched a Public Consultation on a Retail Investment Strategy

On 11 May 2021, the European Commission launched a public consultation on a retail investment strategy for Europe.

Reclassification of Tax Transparent Entities

On 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

Consultation on Sustainable Corporate Governance Initiative is Completed

On 25 October 2020, the European Commission launched a public consultation on a possible EU-level regulatory initiative dedicated to foster long-term sustainable and responsible corporate behavior.

ESA Publishes Joint Supervisory Statement on the Interpretation on Fund Managers’ ESG Disclosure Obligations

From 10 March 2021, fund managers are required to make certain ESG disclosures available on their website and in their pre-contractual disclosures to investors.

ESG & Impact: How To Go About It

Many investors (from business angels to mature stage investor) focus on how to develop and implement responsible investment practices specifically for their own organisation. We believe it’s key for investors to first consider what they want to achieve as well as why and how. That mission should be reflected throughout the investment process and portfolio management.