Consultation response concerning the bill to amend the Danish financial business act etc
On 30 June 2020, the Danish Financial Supervisory Authority submitted for consultation a bill to amend the Danish Financial Business Act (Lov om finansiel virksomhed), the Danish Act on Restructuring and Resolution of Certain Financial Undertakings (Lov om restrukturering og afvikling af visse finansielle virksomheder) and the Danish Capital Markets Act (Lov om kapitalmarkeder) and repeal the Danish Financial Stability Act (Lov om finansiel stabilitet). The bill primarily implements amendments resulting from revisions to the Capital Requirements Directive (CRD V) and the Bank Recovery and Resolution Directive (BRRD II). Danmarks Nationalbank welcomes the bill's general approach to imple-menting the outcomes required by the directives. It is important to have a 'level playing field' between credit institutions in Denmark and other EU member states.