Reports from the Danish Securities Council 1996

The stock exchange reform embodied in the adoption of the Danish Securities Trading, etc. Act in December 1995 led to a liberalisation of the securities market in Denmark. The changed structure resulted in a need to strengthen the supervision of the securities market.

Thus, the Danish Securities Council was established at the same time as the Danish Securities Trading, etc. Act entered into force on 1 January 1996.

The primary object of the Danish Securities Council is to ensure an efficient Danish securities market by laying down the fundamental framework of this market with due regard being paid to dealers, issuers and investors. In addition, the Danish Securities Council is to ensure that the Danish securities market complies with international standards and thus be fully able to compete.

The Danish Securities Council consists of representatives for dealers, issuers and investors which ensures that the interests of all market participants are considered.

During its first year of existence the Danish Securities Council concentrated on laying down the fundamental framework of the Danish securities market, but has also been involved in various specific matters which this report will elaborate on.

The Danish Securities Council's work is directed towards the future. Of course it will take some time for the Danish Securities Council to reach decisions concerning transparency on the securities market and thoroughly to analyse the fundamental principles on the securities market. Thus, the Danish Securities Council will continue to work for an adequate and smooth development on the securities market, both nationally and internationally.

The Danish Securities Council, May 1997

Erik Hoffmeyer
Chairman of the Danish Securities Council

Published by the Danish Securities Council, May 1997
Electronic edition by Net Bureauet