Regulatory aspects play a significant role when financial enterprises want to get established or offer services and products in Denmark. Only regulated enterprises such as banks, investment services companies, insurance companies and insurance brokers may offer financial services, including investment services, in Denmark.
Regulatory aspects play a significant role when financial enterprises want to get established or offer services and products in Denmark. Only regulated enterprises such as banks, investment services companies, insurance companies and insurance brokers may offer financial services, including investment services, in Denmark.
Moreover, the marketing and distribution of securities is subject to regulation, and direct as well as indirect marketing of certain shares in collective investment schemes, for instance UCITS and alternative investment funds (AIF), require registration with the Danish FSA. Violation of legislative requirements may result in "naming and shaming", fines and revoking of the enterprise's license or authorisation.
We are experts in the regulatory issues that apply to financial enterprises. We advise Danish as well as non-Danish financial enterprises, including Danish and international banks, investment services companies, investment advisers, collective investment schemes and their managers, market places, insurance companies, insurance brokers and securities depositories.
Our advisory services include:
- Formation of new financial enterprises, insurance brokers and investment advisers, including application for authorisations and licenses
- Establishing and registering branches of non-Danish investment brokers, insurance companies and insurance brokers
- Investment services activities
- Direct and indirect marketing of collective investment schemes (UCITS/AIFM), including registration in Denmark
- Regulation of securities trading activities, including good business practice and MiFID regulation
- Insurance products and distribution channels, including good business practice and insurance contract law
- Prevention of money laundering and financing of terrorism
- Payment services
- FinTech
- Cash-settled derivatives (CSDs).
We have in-depth knowledge of legislation as well as case law and many years' experience and good working relationships with the Danish FSA and other authorities.
When required to ensure clients optimal advisory services, we cooperate with lawyers from our other areas of expertise such as Insurance, Financing, Capital Markets, M&A and Corporate Matters, Tax, Compliance, Data protection.