Supervisory matters and investigations

In recent years we have seen an increased focus on the part of the public authorities in terms of ensuring compliance with financial legislation. This is the result of a number of restrictions on laws, among other things, where it has been stated directly that the goal is stricter penalties for violating financial legislation. 

The increased focus is reflected, for instance, in the Danish Financial Supervisory Authority's stricter interpretation and enforcement of financial legislation. The Danish Financial Supervisory Authority 1) pursues to a greater extent matters which they consider to be of general public importance, 2) is quicker to make decisions to make supervisory responses, 3) reassesses members of management's fit and proper status more frequently than previously, if they have been involved in matters concerning violation of legislation, and 4) reports more offences to the police.  

Plesner has extensive practical experience when it comes to handling matters relating to the violation of financial legislation. In this context, Plesner has been in regular contact with the Danish Financial Supervisory Authority with respect to interpretation of the law and handling of supervisory responses.

Our work in connection with such matters includes:

• strategic advice on how to handle the matter
• advice on regulatory risks and case law from the Danish Financial Supervisory Authority
• challenging interpretations made by the Danish Financial Supervisory Authority if it is considered relevant
• assistance in terms of communication with the Danish Financial Supervisory Authority or other relevant authorities
• internal investigations with financial undertakings for the purpose of identifying specific procedures and preparing legal opinions
• assessment of managerial responsibility and fit and proper status
• drafting of plans for handling and redressing identified non-compliance matters
• advice on all the different sets of rules that are relevant in connection with these types of matters, including access to documents, prohibition against self-incrimination, duty of disclosure and duty of confidentiality on the part of both authorities and financial undertakings

Due to the complexity and the extent of the matters we often work in cross-disciplinary teams with experts  from several practice areas, for example Corporate Criminal Law and Investigations, Data Protection Law and Dispute Resolution.