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David Moalem

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David Moalem specialises in capital markets and financial enterprises

With a profound business understanding and in-depth knowledge of the business models as well as the regulation of capital markets and financial enterprises, David Moalem is one of Denmark's leading advisers of listed and financial enterprises, markets as well as other capital market operators. 

David is an expert on capital markets, financial enterprises, collective investment schemes and managers, measures preventing money laundering and financing of terrorism, payment services, compliance and FinTech. 

David is also highly experienced in special procedural law and criminal law, having represented numerous listed and financial enterprises in cases of general public importance before the Danish FSA, the Danish Company Appeals Board, The Danish Public Prosecutor for Serious Economic and International Crime as well as the Danish courts.


The Team

Capital Markets

  • Capital Markets
  • Regulatory Issues
  • Compliance
  • Foundations
  • Economic Crime & Anti Corruption
  • New Technology
  • Whistleblowing schemes
  • FinTech
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Partner David Moalem
"I have a strong interest in my clients and do my best to get to know them."
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  • Member, The Danish government's EU Financial Regulation Committee
  • Member, The Danish FSA's EBA Forum
  • Member, The Danish FSA's EU Forum
  • Member, The General Council of the Danish Bar and Law Society's expert panel for company and capital markets law
  • Member, The Private Banking Committee of the Danish Society of Financial Analysts
  • Member, GXG Markets Disciplinary Committee (EU Regulated Market and MTF licensed in Denmark)
  • Responsible for the Official Certification Programme of the Danish Securities Dealers Association


  • The Virtual Currency Regulations Review, Law Business Research Ltd, 2018. Article
  • Kapitalmarkedsret, Den Danske Børsmæglerforening, 2014. Book
  • Common Legal Framework for Takeover Bids in Europe, Cambridge University Press, 2010. Book
  • The European Takeover Directive and its implementation, Oxford University Press, 2009. Book
  • The EU Prospectus Legislation, Cambridge University Press, 2008. Book
  • Werlauff & Moalem: Værdipapirhandelsloven med kommentarer, Gjellerup, 2007. Book
  • Directors Liability; A Worldwide Review, Kluwer Law, 2006. Book
  • Insiderhandel - et obligationsretligt studium, Thomson, 2004. Book
  • Daimler - Dommens betydning for dansk børsret - Et svar til ET 2014.39, Erhvervsjuridisk Tidsskrift , 2014. Article
  • Om prospektansvaret i dansk ret – efter Højesterets dom i bankTrelleborg-sagen (2013), Erhvervsjuridisk Tidsskrift , 2013. Article
  • EMIR – endnu et skridt på vejen mod EU’s Single Rulebook for Financial Markets, Jurist- og Økonomiforbundets Forlag, 2013. Article
  • Risikomærkningsordningen for investeringsprodukter, Finans/Invest, 2012. Article
  • Forslaget til det nye MiFID II direktiv, Finans/Invest, 2011. Article
  • Fokus på investeringsrådgivning, Finans/Invest, 2011. Article
  • Ny betænkning om insiderhandel, Finans/Invest, 2010. Article
  • Investorbeskyttelse – fokus på best execution, Revision & Regnskabsvæsen, 2010. Article
  • Insiderudvalgets betænkning 1521/2010, Nordisk Tidsskrift for Selskabsret, 2010. Article
  • Om forbuddet mod uberettiget videregivelse af intern viden, Nordisk Tidsskrift for Selskabsret, 2010. Article
  • Kursmanipulation – Status og perspektivering, Nordisk Tidsskrift for Selskabsret, 2009. Article
  • Hvornår må man videregive intern viden, Revision & Regnskabsvæsen, 2009. Article
  • Investorbeskyttelse – fokus på kend din kunde-reglerne, Revision & Regnskabsvæsen, 2009. Article
  • Børsselskabernes løbende oplysningspligt, Revision & Regnskabsvæsen, 2009. Article
  • The MAD Disclosure Regime – and its application on rumours, Capital Markets Law Journal, Volume 4, 2009. Article
  • Insider Dealing and Parity of Information - Is Georgakis Still Valid?, European Business Law Review, Volume 19, 2008. Article
  • Insideres og deres nærtståendes flagningspligt, Revision & Regnskabsvæsen, 2008. Article
  • Det danske takeoverregime, Revision & Regnskabsvæsen, 2008. Article
  • Insiderhandel og informationsparitet, Nordisk Tidsskrift for Selskabsret, 2007. Article
  • Intern viden-begrebet, Revision & Regnskabsvæsen, 2007. Article
  • Hvornår har jeg intern viden?, Finans/Invest, 2007. Article
  • Ny reform af værdipapirhandelsretten – den danske implementering af MiFID- og transparensdirektivet, Revision & Regnskabsvæsen, 2006. Article
  • Storaktionærers flagningspligt, Nordisk Tidsskrift for Selskabsret, 2006. Article
  • Nye regler om overtagelsestilbud, Revision & Regnskabsvæsen, 2006. Article
  • Værdipapirhandleres indberetning af mistænkelige transaktioner, Finans/Invest, 2006. Article
  • Om intern viden og misbrugsreservationen – efter Højesterets dom i Midtbank-sagen, Nordisk Tidsskrift for Selskabsret, 2005. Article
  • Nye prospektregler, Revision & Regnskabsvæsen, 2005. Article
  • Nye oplysningskrav ved investeringsanalyser, Revision & Regnskabsvæsen, 2005. Article
  • Nye regler for finansanalytikere, Finans/Invest, 2005. Article
  • Nye insiderlister for noterede selskaber og rådgivere, Revision & Regnskabsvæsen, 2005. Article
  • Midtbank-sagen – Efter Højesterets dom, Finans/Invest, 2005. Article
  • Ny flagningspligt for ledende medarbejdere, Revision & Regnskabsvæsen, 2005. Article
  • Ekstraordinært udbytte i dansk selskabsret, Nordisk Tidsskrift for Selskabsret, 2005. Article
  • Ny løbende oplysningspligt for noterede selskaber, Revision & Regnskabsvæsen, 2005. Article
  • Ny reform af værdipapirhandelsloven, Finans/Invest, 2005. Article
  • Ny dansk ”børsreform”, Revision & Regnskabsvæsen, 2005. Article
  • Midtbank-dommen – Før Højesterets dom, Nordisk Tidsskrift for Selskabsret, 2004. Article
  • Anmeldelse af Jesper Lau Hansen, Finans & Samfund, 2004. Article
  • Forbuddet mod insiderhandel – Om intern viden og misbrugsreservationen, Ugeskrift for Retsvæsen 2004B, 2004. Article
  • Midtbank-dommen, Finans/Invest, 2004. Article
  • Fortielser ved kontraktindgåelse – Om obligationsrettens loyale oplysningspligt, Ugeskrift for Retsvæsen 2004B, 2004. Article
  • Anmeldelse af Peer Schaumburg-Müller, Retsvidenskabeligt Tidsskrift, 2004. Article
  • Det danske insiderregister – To skridt frem og ét tilbage, Juristen , 2003. Article
  • Reguleringen af værdipapirmarkedet – status og perspektiver, Finans/Invest, 2003. Article
  • Værdipapirhandlernes god skik regulering, Juridiske Emner, 2003. Article
  • Nye værdipapirhandelsretlige kompetenceregler, Revision & Regnskabsvæsen, 2002. Article
  • God skik og værdipapirhandlere, Finans/Invest, 2014. Article
  • Nyt dansk insiderregister, Revision & Regnskabsvæsen, 2014. Article
  • Nye regler for notering på Københavns Fondsbørs, Nordisk Tidsskrift for Selskabsret, 2002. Article
  • Retsstiftende passivitet, Juridiske Emner, 2001. Article
  • Civilretlige sanktioner ved insiderhandel, Nordisk Tidsskrift for Selskabsret, 1999. Article
  • Insiderpersonkredsen – Sondringen mellem primære og sekundære insidere, Juristen , 1999. Article
  • Insider trading – ulovlig handel med værdipapirer, Justitia , 1998. Article

Education and language

  • Admission to practice law
  • PhD
  • Master of Laws
  • English
  • Hebrew


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The capital markets group at Bech-Bruun is adept at handling equity transactions and complex regulatory issues. The regulatory practice combines traditional stock exchange regulation, corporate governance and market abuse expertise with bond and derivatives knowledge. It is also active in public-to-private transactions and has experience in IPOs, buy-backs, prospectuses and delistings. Names to note include compliance specialist David Moalem.

David Moalem has been listed as Hall of Fame by Legal 500.

Legal 500, Capital Markets

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'David Moalem is professional, dedicated and trustworthy and his insights is second to none. His friendly, calm and no-nonsense approach makes him likeable to everyone – both clients and counterparties.'

Legal 500, Capital Markets

David Moalem has notable experience in debt capital markets transactions and is particularly recognised for his knowledge of regulatory issues. "He provides sound and easy-to-understand advice within a very difficult area," says a satisfied client.

Chambers and Partners Europe, Capital Markets

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