In the decision of the Danish FSA, dated May 3, 2018, it is stated that the Danish FSA will incorporate new relevant information that will later appear in the Danske Bank case. Now, the Danish Bank report is available, and therefore the Danish FSA will again look at the basis of the case.

The European Banking Authority (EBA) has today informed the Danish FSA that this week EBA expects to forward a formal inquiry to the Danish FSA concerning the FSA’s handling of anti-money laundering supervision. The background for the inquiry is the case relating to Danske Bank’s branch in Estonia.

Today, Danske Bank has presented its conclusions from the bank’s own investigations of the branch in Estonia.

The Danish Supervisory Authority has issued a decision on Danske Bank's follow-up to the eight orders that were part of the decision of 3 May 2018 on management and control in relation to the Estonian branch. Due to increased compliance and reputational risks, the bank received an order to re-evaluate the solvency need and, as a minimum, to increase its Pillar II add-on covering these risks to at least DKK 10 billion.

The Danish insurance company Qudos Insurance A/S has been declared bankrupt. Policyholders can cancel their policy, if they wish to do so. The policy will be cancelled 3 months after the declaration of the bankruptcy in Statstidende. The Danish Guarantee Fund for non-life insurance undertakings will cover some claims incurred 4 weeks after the liquidator has notified the policyholders of the bankruptcy.

The Monetary Authority of Singapore (MAS) and the Danish Financial Supervisory Authority (Danish FSA) today signed a FinTech Co-operation Agreement which aims to help FinTech companies in Singapore and Denmark to expand into each other’s markets.

The Danish FSA publishes today the principles for resolution plans and determination of the minimum requirement for own funds and eligible liabilities (MREL) for systemically important financial institutions (SIFIs). Finansiel Stabilitet has been consulted and has contributed during preparation of the principles.

The Danish Financial Supervisory Authority (FSA) allows certain waivers and deferrals in respect of the requirements for publication of order and trade information.

Danish savings in collective investments rose in 2016 to a total of DKK 2,050 billion. This corresponds to 38 per cent of Danes’ total financial savings, according to a new analysis by the Danish FSA.

Danish banks should have much stronger focus on meeting the requirements of the Money Laundering Act concerning prevention of tax evasion by customers. This is the main conclusion of the Danish FSA in its final report based on the Panama Papers.

The Danish FSA and the European Investment Bank (EIB) are putting investment finance in Denmark on the agenda at an international conference in Copenhagen on 15 December.Registration is now closed.

New EU legislation entails that, later this year, the Danish FSA will have to decide possible exemptions from requirements regarding trade transparency on non-equity markets, including the market for mortgage-credit bonds. The Danish FSA has published a discussion paper on the topic to ensure public debate and a solid decision base.

The Danish FSA publishes today a discussion paper on the preliminary considerations regarding principles for resolution and setting the minimum requirement for own funds and eligible liabilities (MREL) for small and medium-sized banks. Finansiel Stabilitet has been consulted and has contributed to the discussion paper during its preparation.

Every time Danes save DKK 100 for their pension, DKK 60 goes into schemes with unclear payments for customers when they start drawing their pensions. This has prompted the Danish FSA to launch a debate on the risks of so-called market return pensions with a new discussion paper.

Jesper Berg, Director General of the Danish FSA, addressed a number of current topics related to the Danish financial system in his presentation at Nykredit’s Capital Markets Day November 14, 2018.

The term “ICOs” – initial coin offering – has become increasingly noticeable in the financial news during 2017. In short, an ICO is a new way of raising funds from the public. Businesses raising funds through an ICO, are oftentechnology companies, whose business models are based on the use of newtechnology such as blockchain etc.

The Danish FSA endorses new consumer warning about cryptocurrency from the EU's three financial supervisory authorities – EBA, EIOPA and ESMA.

The Financial Supervisory Authority has now prepared the final resolution plans and MREL for Danske Bank, Jyske Bank and Sydbank. As previously indicated, the overall MREL for SIFIs will be set to twice the solvency requirement plus twice the combined capital buffer requirement. The resolution plans for Nykredit and DLR Kredit will be finalised after 1 July, when a new legislative proposal is expected to come into effect.

The Danish Financial Supervisory Authority (the Danish FSA) completed an inspection of Københavns Andelskasse during june and august 2018. The inspection included all the main areas of risk including anti-money laundering (AML). During the course of the inspection the Danish FSA observed a signifi-cant amount of breaches to the financial regulation and AML-regulation.

The heads of relevant ministries, central banks, financial supervisory authorities and resolution authorities in the Nordic and Baltic countries, have signed a Memorandum of Understanding (MoU) on cooperation and coordination on cross-border financial stability.