Rules governing financial institutions and asset management, including securities offerings and financial services, are becoming increasingly detailed and complex, not least as a result of increased international regulation.
Securities offerings and asset management often take place on a cross-border basis, and new financial products are being developed. Accordingly, high demands are imposed on the financial institutions and their customers.
We advise a number of leading Danish and foreign financial institutions, including asset managers, on regulatory matters in Denmark. We also have broad experience in assisting Danish clients with structuring financial products abroad, where we benefit from our wide network of contacts with leading law firms abroad.
Kromann Reumert's Financial Services team is a leading player in Denmark in this field, and our team, which is the largest in Denmark, comprises more than 20 highly specialised lawyers with experience across the whole range of financial institution regulatory work.
We provide advice in relation to:
- Banking and mortgage credit institution activities
- Insurance and pensions
- Investment funds and investment management companies
- Asset management and custody, and
Our lawyers have extensive expertise in financial regulation and case law, including in relation to the Danish Financial Business Act, the Danish Act on Investment Funds, etc., the Danish Supervision of Company Pension Funds Act, the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism, the Danish Payment Services Act, the Danish Insurance Mediation Act, and the Danish Securities Trading Act.
We are also widely experienced in representing clients in their relations to the Danish Financial Supervisory Authority and other relevant authorities. Our specialists include former employees of the Danish Financial Supervisory Authority and financial institutions.
We work closely together with the firm's other practice areas and benefit from the knowledge and experience of our colleagues particularly in the Banking and Finance, Capital Markets, Insurance and Tort Law, Employment and Labour Law, and
Mergers and Acquisitions practice groups.
Management and organisation
We have considerable experience in advising on and assisting with management and organisation of financial institutions, including banks, insurance companies, investment companies and investment funds.
In addition to advice and assistance regarding the special company rules applicable to financial institutions and investment funds, we advise i.a. on the "fit and proper" requirements applicable to board menbers and executive officers.
We advise our clients, i.a. in the preparation of operating plans, risk assessments, guidelines (including for the divisions of powers between the board of directors and the executive board), the rules of procedure for the board of directors, financial resources plans, and advice on risk profiles, risk policies and risk management, monitoring of risk bearing tasks, outsourcing, disclosure requirements, conflicts of interest and remuneration of i.a. members of the management.