Adoption of act on increased liability for members of management in financial undertakings
The bill introduces amendments to financial and criminal regulations which political stakeholders have deemed necessary to increase the liability of management and key individuals for their actions.
The most significant amendments to financial regulation include:
- enhanced assessment of the liability of members of management, etc. in financial undertakings, both criminal liability and tort liability
- increased regulation of severance payments
- broader and more transparent recruitment basis for managements
Since its introduction on 8 February 2023, the bill has primarily undergone technical modifications.
Plesner reviewed the main contents of the bill – including the amendment adopted - in this Insight: New bill on increased liability for managements of financial undertakings.
The provisions enter into force on 1 July 2023.
Do you want to know more?
On 17 May 2023, Plesner will be hosting an event on the importance of the new rules. All interested parties are welcome.
A number of experts will discuss the potential consequences which the new legislation is expected to have regarding the future managerial liability for members of management in financial undertakings.
See the invitation to the event (in Danish)