Focus - The Financial Advisors Act

Date 6 nov. 2013
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In this newsletter we focus on the Danish Financial Advisors Act (link in Danish), which enters into force on 1 January 2014. In this connection, the Danish FSA has on 6 November 2013 made public an Executive Order on competence requirements for financial advisors (link in Danish). With the passing of the Act,  a new requirement has been introduced which means that persons who provide financial advisory services regarding credit agreements, deposits, insurances, pensions and investment products must be authorized by the Danish FSA to act as financial advisors. The Act does not apply to advisory services provided by financial institutions and investment advisors or advice provided by insurance agents.

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