On Jul. 1, DEN FSA consulted on the management of pension funds.
DEN FSA published a consultation relating to changes to the executive order on the management of company pension funds, with accompanying list.
Proposals
Repeal annex 4 of the executive order on IT security, as the requirements in this annex are replaced by common European requirements in Reg 2022/2554 on digital operational resilience in the financial sector (DORA regulation).
Rules in DORA basically apply to all company pension funds, but certain company pension funds will, due to size, be able to apply simplified requirements in the reg.
Effectiveness
Any comments on the executive order should be submitted by Aug. 30, 2024.
The executive order shall enter into force on Jan. 17, 2025.
Nov. 2024 Final Executive Order
On Nov. 30, 2024, DEN GVT issued final executive order on company pension funds.
Follows DEN FSA Jul. 2024, draft amendment re company pensions, see #217989.
Paragraph 4(1)(4) is repealed, and paragraphs 5-8 then become 4-7.2.
Appendix 4 is repealed, and Appendix 5 will then become Appendix 4.
Executive Order contains provisions implementing parts of Directive 2016/97 on insurance provisions, and Directive 2016/2341 on occupational retirement provision.
The executive order will enter into force on Jan. 17, 2025.
Regulators
DEN FSA; DEN GVT
Entity Types
Corp; Pension
Reference
OG 11/30/2024; BEK 1302, 11/28/2024; CP, PR, 7/1/2024; DORA Dir 2022/2556, Reg 2022/2554; BEK 7 (DEN); IORP Dir 2016/2341, Dir 2003/41; IDD Dir 2016/97; Citation: OG BEK 1302;
