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).
Disclosure RequirementsESMAKID / PRIIPSOn 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).
Disclosure RequirementsESMAKID / PRIIPSESMA 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.
BrexitThe Danish Government has presented a proposal for an amendment of various acts, including the Danish Tax Assessment Act and the Danish Act on Taxation of Capital Gains on Shares.
Management RemunerationOn 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 / AMLWhistleblowingOn 2 July 2019, ESMA has published the responses received to its consultation on draft regulatory technical standards under the ELTIF Regulation.
The Q&A document provides responses to questions posed by the general public and competent authorities in relation to the practical application of the AFIDM.
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.
AIFMDDisclosure RequirementsGovernanceMarketingTransfer of personal data from Denmark to (private) organisations in Japan that are subject to the APPI will not require prior approval from the DPA.
ComplianceDanish RegulationGDPROn 14 June 2019 the Council adopted the new regulation on facilitating cross-border distributions of AIFs.
Cross-BorderMarketingPre-MarketingVenture CapitalOn 14 June 2019 the Council adopted the new directive amending i.a. the Alternative Investment Fund Managers Directive (AIFMD).
AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture CapitalOn 11 June 2019, the Danish Data Protection Agency ("DPA") has reported a Danish furniture company to the Danish police for not deleting information on approx. 385,000 customers.
ComplianceDanish RegulationGDPRDAC6, the new EU directive regarding mandatory reporting in relation to arrangements with cross-border implications DAC6, will increase reporting requirements for arrangements that have cross-border implications.
ComplianceDAC6Disclosure RequirementsHighlights include a definition of pre-marketing, rules on de-notification in countries with no investor interests and rules on facilities made available to retail investors.
AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsOn 22 May 2019 the European Commission adopted delegated regulation specifying different types of conflicts of interest of managers of European Venture Capital Funds (EuVECA) and the steps to be taken in terms of structures, organisational and administrative procedures.
Conflict of Interests (COI)GovernanceVenture CapitalOn 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 / AMLOn 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.
AIFMDESMAGovernanceRegulatory Technical StandardsRisk ManagementSustainabilityThe new regulation establishes uniform rules on i.a. fees and charges, and it amends the EuVECA regulation to include a pre-marketing definition.
Cross-BorderMarketingPre-MarketingDelivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
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