Reply to the Danish Financial Supervisory Authorithy's Discussion Paper on the Fit & Proper Regulations
Danmarks Nationalbank does not specifically address the individual aspects of the Fit & Proper regulations highlighted in the Danish Financial Supervisory Authority's discussion paper. On a more general basis, Danmarks Nationalbank finds it essential to maintain the owners' and management's full responsibility for the sound operation of a credit institution. The EU Fit & Proper regulations give the member states a certain degree of flexibility. In Danmarks Nationalbank's view, no Danish rules or practices generally expanding the Danish Financial Supervisory Authority's Fit & Proper tasks relative to the current regime should be implemented.