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Decision concerning Danske Bank's management and control in the Estonian money laundering case
- Emne:
- Press releases, Decision, News, Pressrelease
Today, the Danish FSA has issued its decision on Danske Bank's management and control in the money laundering case at the bank's branch in Estonia. The decision comprises eight orders and eight reprimands, and indicates the need for an increase in the bank's capital requirement by DKK 5bn due to increased compliance and reputational risk. -
Jesper Berg's speaking notes from the Folketing's hearing on Danske Bank
- Emne:
- 2018, Press releases
The Danish Financial Supervisory Authority (Danish FSA) has published Jesper Berg's speaking notes for his presentation to the Folketing's hearing on Danske Bank of 19 November 2018. In particular, the purpose was to further communicate facts about the division of responsibility between Denmark and Estonia and about supervisory activities between 2007-2018. -
Qudos Insurance A/S has entered into solvent liquidation
- Emne:
- 2018, Press releases
Qudos Insurance A/S has on 27 November 2018 announced it has entered into solvent liquidation. Please contact your broker with any queries. -
Comments on Danske Bank’s investigation
- Emne:
- 2018, Press releases
Today, Danske Bank has presented its conclusions from the bank’s own investigations of the branch in Estonia. -
Danske Bank's follow-up to the Estonia case
- Emne:
- 2018, Press releases
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. -
Danmarks Nationalbank and the financial sector are strengthening their cyber defences
- Emne:
- 2018, Press releases
Danmarks Nationalbank wishes to increase cyber resilience in the most critical part of the Danish financial infrastructure in particular. Consequently, Danmarks Nationalbank and the financial sector have agreed to establish a Danish red team test programme. -
Inquiry from EBA concerning anti-money laundering supervision
- Emne:
- 2018, Press releases
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. -
Decision that Københavns Andelskasse is likely to fail
- Emne:
- 2019, Press releases
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. -
Joint statement by the Estonian FSA and the Danish FSA
- Emne:
- 2018, Press releases, News, Pressrelease
The Estonian financial supervision and resolution authority Finantsinspektsioon and the Danish FSA in this statement express their shared understanding of the supervisory responsibilities between the two regulators, as a response to numerous respective inquiries from media. -
Comments on the Danske Bank Case
- Emne:
- 2018, Press releases
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. -
New cooperation agreement on cross-border financial stability
- Emne:
- 2018, Press releases
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. -
Statement: ICO
- Emne:
- 2017, Press releases
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. -
Qudos Insurance A/S declared bankrupt
- Emne:
- 2018, Press releases
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. -
Discussion paper on resolution strategies and MREL for small and medium-sized banks
- Emne:
- 2017, Press releases
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. -
Danish Financial Supervisory Authority launches debate on risks in new pensions
- Emne:
- 2017, Press releases
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. -
Final resolution plans and MREL for systemically important banks
- Emne:
- 2018, Press releases
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. -
Conference on more financing sources for enterprises
- Emne:
- Press releases, News, Pressrelease
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. -
Discussion paper on transparency and liquidity on the mortgage-credit-bond market
- Emne:
- 2017, Press releases
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. -
EU authorities warn consumers about cryptocurrency
- Emne:
- Press releases, 2018, News
The Danish FSA endorses new consumer warning about cryptocurrency from the EU's three financial supervisory authorities – EBA, EIOPA and ESMA. -
The Danish FSA launches FT Lab
- Emne:
- 2018, Press releases
Today, Danish Financial Supervisory Authority (the Danish FSA) will open for applications to the FT Lab, which is a regulatory sandbox for fintech initiatives. The idea is to make it possible for financial entrepreneurs to test their product or service on real customers.