The Danish FSA has updated the fit & proper guidelines
Published 11 December 2024
Category: Financial Regulation
On 29 November 2024, the Danish FSA published a new and updated version of its guidelines on requirements in the financial legislation regarding the suitability and integrity of board members, executive management members and key persons in financial companies, known as the fit & proper guidelines.
The purpose of the update is to create transparency regarding the Danish FSA’s practice in relation to the suitability assessment and the application process.
The updated guidelines provide more details on the suitability assessment, the application process, including the Danish FSA’s option to interview the candidates, and initiatives introduced in recent years.
In addition, the guidelines extend the scope of the suitability assessment to include key persons and employees being a part of the actual management of the company without being registered as members of the executive management. Key persons include, among others, persons in charge of risk management, compliance and anti-money laundering.
The updated guidelines can be found in Danish here.