Financial Regulation

Our expertise includes:

  • Setting up new financial businesses, insurance brokers and investment advisers, for example applications for licences
  • Setting up and registration of branch offices for foreign stockbrokers, insurance companies and insurance brokers
  • Investment service activities
  • Direct and indirect marketing of collective investment undertakings (UCITS), including registration in Denmark
  • The AIFM Directive, including marketing of Danish and non-Danish (EU and non-EU/EEA) AIFs in Denmark as well as registration of non-Danish alternative fund managers.
  • Regulation of securities trading activities, including compliance and the MiFID Directive
  • Insurance products and distribution channels, including good business practice and insurance contract law.

How can we help?
We render specialist advice to financial businesses, including Danish and international (EU and non-EU/EEA) alternative fund managers, stockbroker companies, investment advisers, UCITS, AIFs, insurance companies and insurance brokers.

We have in-depth knowledge of applicable legislation and practice, and we have established a close working relationship with the Danish Financial Supervisory Authority and other relevant authorities.

Common challenges
Regulatory matters play an important role when financial businesses wish to set up or offer services and products in Denmark. Only regulated businesses, such as banks, stockbroker companies, insurance companies and insurance brokers, are authorised to offer financial services, including investment services, in Denmark.

Moreover, the marketing and offering of securities is subject to regulation. So is the direct and indirect marketing of certain units in collective investment schemes, such as investment undertakings (UCITS), and alternative investment funds (AIFs) require registration with the Danish Financial Supervisory Authority.

Non-compliance with statutory requirements may result in “naming and shaming”, imposing of fines and the withdrawal of licences or authorisations. 

Tags

Our ratings

Chambers and partners

Chambers Europe Rating 2018
-  Capital Markets

What the team is known for Noted for its work on IPOs, securitisation and regulatory matters. Acts on behalf of corporates and financial institutions on compliance work, share buy-backs and public tender offers. VP Securities is among the latest client wins for this department.

Strengths Clients praise the "high quality of work," adding that the team "knows the market and our business approach. The lawyers offer very good client service and are always available."

A further source recommends the group's "excellent service, timeliness and round-the-clock availability."

Work highlights Guided Expedit on the DKK125 million public tender offer made by Wanzl for Expedit.

Advised 3i and Layout Bidco on their DKK1.5 billion public to private takeover of BoConcept.

Significant Clients Danske Bank, UBS, Jyske Bank, BEC, Blackstone.

Notable practitioners
Steen Jensen advises clients on ECM transactions, including passporting and takeovers. He recently assisted Exiqon with its DKK1 billion public-to-private takeover by Oncotec.

David Moalem provides regulatory advice on capital markets-related matters. He assisted Lundbeck with the implementation of a new capital markets compliance set-up in light of the new EU Market Abuse Regulation. Clients say: "He gives very practical advice which we can easily implement and he provides very good service."

Chambers and Partners Europe, Capital Markets

Chambers - Firm Logo SH lille

Chambers Global Rating 2018
-  Capital Markets

Steen Jensen advises clients on ECM transactions, including passporting and takeovers. He recently assisted Exiqon with its DKK1 billion public-to-private takeover by Oncotec.

David Moalem provides regulatory advice on capital markets-related matters. He assisted Lundbeck with the implementation of a new capital markets compliance set-up in light of the new EU Market Abuse Regulation. Clients say: "He gives very practical advice which we can easily implement and he provides very good service."

Chambers and Partners Global, Capital Markets

IFLR1000

IFLR1000 Rating 2016
-  Capital Markets

That deal was demonstrative of a general improvement in the capital markets in Denmark this year, which the team at Bech-Bruun was able to capitalise on. Other examples saw (Morten) Krogsgaard take the lead in acting for the PWT Group on the Danish law issues relating to PWT Holding’s placement of a kr300 million (€40 million) high-yield bond on the Nasdaq OMX Stockholm and in assisting SAS on the Danish aspects of its kr1.6 billion (€169 million) issuance of convertible bonds.

(...)

“A very competent and always in-touch full service provider,” is the way one general counsel describes the capital markets practice.

IFLR 1000, Capital Markets

Bech-Bruun Recommended by Legal500

Legal500 Rating 2018
-  Capital Markets

Bech-Bruun provides ‘very valuable advice’ as well as ‘excellent and professional service’. Practice head Morten Krogsgaard recently assisted DSV Miljø Group with a senior secured FRN bonds and the revolving facility agreement, while Steen Jensen advised Exiqon in a public to private takeover. David Moalem is praised for his ‘extremely quick answers’ and ‘business understanding’.

Legal 500, Capital markets

  • Copenhagen

    Langelinie Allé 35
    2100 Copenhagen

  • Aarhus

    Værkmestergade 2
    8000 Aarhus C

  • Shanghai Representative Office

    No.1440 Yan'an Middle Road, Suite 2H08
    Jing'an District, 200040 Shanghai, P.R. China

  • Bech-Bruun Law Firm P/S

    P +45 72270000
    F +45 72270027
    E info@bechbruun.com
    VAT number 38 53 80 71
    Cookie policy
    Legal Notice and Disclaimer
    Privacy Policy