Below, you can find guides on how to use the OAM system:
- Guide on how to log in and submit notifications in the OAM system
- Guide on how to apply for registration in the OAM system
- Guide on how to assign reporting parties in the OAM system
Reporting portal
Notifications must be submitted through the Danish FSA’s database for company announcements (OAM). Danish citizens and companies must use a digital NemID signature to login and submit notifications. Foreign individuals and companies who do not have nor are able to receive a digital NemID signature can request the Danish FSA for a username and password to the OAM system in order to submit their notifications.
Read more about the Danish FSA’s OAM system, and find all relevant guides on how to use the reporting portal.
How to apply for user id and password if you are and foreign company or foreign individual
Please see the guide on how to apply for user id and password.
Before signing up you need to have electronic copies of the below-mentioned documents (a, b and c) ready on your computer, making it easy for you to upload them during the registration process. Furthermore, you need to have a valid, unique e-mail address not used by others in the OAM system. Once your application has been approved by the Danish FSA you will receive an e-mail with your user id and a link to create your password to the system. It will be sent to the e-mail address that you have stated. Approval of applications is normally carried out on a day-to-day basis on weekdays within normal Danish working hours (08:00 – 16:00).
Documents required:
a) Personal identification. This can be a copy of your passport, driver’s license, employee ID or similar identification card.
b) Proof of incorporation of the undertaking by form of a transcript from the local business register (an Internet transcript is sufficient). Please note: The transcript should not be older than 12 months.
c) A power of attorney empowering you to submit notifications on behalf of the undertaking.
Please note that not all file types are allowed when uploading the documents in the application process, and we prefer to receive all the documents as .PDF files. Document a) is always required, whether you are an individual or an employee at a company. Documents b) and c) however, are only required when you are an employee at a company and you are signing up on behalf of this company.
Once you and/or your company has been registered in the OAM system, you will be able to assign technical powers of attorney to other users/companies in the OAM system in order to let these notify on your behalf. Thus, if you are a parent company with several subsidiaries and you need to be able to report on behalf of all these legal entities, you need to register and sign up on behalf of each of the legal entities, but subsequently you will be able to report on behalf of all the entities through a single account provided that you have granted this account the required powers of attorney.
Guide on how to assign reporting parties in the OAM system.
If you have any questions in relation to the registration process please contact the Danish FSA: oam@ftnet.dk
Reporting of net short position in shares
Companies or individuals who have a net short position of 0.1 % in the issued share capital of an issuer with shares admitted to trading on a regulated market or an MTF in Denmark are required to give the Danish FSA notice of the net short position. Following a notice to the Danish FSA, the company or individual is then obligated to report changes to the net short position for every 0.1 %-point above the reporting threshold that the position crosses, until it goes below the 0.1 % threshold. That is, the company or individual shall notice the Danish FSA every time its net short position reaches or crosses 0.1 %, 0.2 %, 0.3 %, etc. of the issuer’s issued share capital.
During the period 16 March 2020 to 19 March 2021, ESMA decided to temporarily lower the notification threshold to 0.1% in light of the market unrest following the COVID-19 pandemic. From 20 March 2021 to 28 January 2022, the reporting limit was 0.2 %, until the European Commission decided to permanently lower the threshold for notification of net short positions to 0.1 %. Since 31 January 2022, the reporting limit has been 0.1 %.
If a company’s or indvidual’s net short position reaches or exceeds 0.5 % of an issuer’s issued share capital, the net short position must be made available to the public. Subsequent changes of 0.1 % to the net short position must also be published as long as the net short position is at or above 0.5 %. The obligation to make the net short position available to the public is automatically fulfilled when the net short position is reported to the Danish FSA, since parts of the short selling notification will be publicly available through the Danish FSA’s reporting system. This only applies to reported net short positions at or above 0.5 % of an issuer’s issued share capital.
Reporting of short position in sovereign debt
Companies or individuals who have a short position in Danish government bonds above a certain threshold value must report this to the Danish FSA. Subsequently, changes in the short position above a certain threshold value must be also reported, as long as the short position is above the threshold that triggers reporting obligation.
The two thresholds are set by ESMA website and will be updated quarterly.