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New classes and requirements for branches of third-country firms

Official title (in Danish): Bekendtgørelse om filialer af kreditinstitutter, der er meddelt tilladelse i et land udenfor Den Europæiske Union, som Unionen ikke har indgået aftale med på det finansielle område

Executive order · BEK nr. 1009 af 02.07.2025 · Er­hvervs­min­is­ter­iet

In short

Reading time: 1 min
  • What changes:
    • Branches are now split into class 1 and class 2, and a class 1 branch is, among other things, one with assets of EUR 5.0 billion or more.
    • The Danish Financial Supervisory Authority can still refuse an application if Danish financial institutions do not have an equivalent right in the country, unless the branch is a qualifying branch.
    • Previously, the exception was an international agreement.
    • The Danish Financial Supervisory Authority can also refuse an application if the firm or its group does not meet the supervisory requirements that apply in its home country, or is likely to breach them within the next 12 months.
  • Who: The executive order now applies to firms covered by section 2(1) of the Act on Financial Business.
  • When: The executive order will enter into force on 1 January 2027.

Written by AI from verbatim quotes from the source and checked by code and AI. Dates, tables and the fact box are calculated by fixed rules. Unofficial translation. Always read the original.

Sources and original

Read the official text (in Danish) →

Source: Retsinformation.dk

Translated from Danish · The Danish version and the original source apply.

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  1. Issued · 2 July 2025
    Retsinformation.dk
  2. Published in the Danish Law Gazette (Lovtidende) · 12 July 2025
    Retsinformation.dk – bekendtgørelse nr. 1009 offentliggjort
  3. Enters into force · 1 January 2027
    In 58 days