Denmark

In February 1998 amendments to acts regarding the financial sector were proposed. They included the following:

• specification of the rules regarding the professional secrecy obligations of the Danish Financial Supervisory Authority;
• changes to the rules of crisis-management in financial institutions, for example by increasing the possibility to buy out minority shareholders and by introducing tax benefits in connection with takeovers of troubled financial institutions; and
• harmonization of the rules governing affiliated companies in the financial sector.

Despite the general election on March 11 1998, it is believed the proposed amendments will be re-introduced.

Share this article