On Dec. 17, DEN GVT issued order on financial complaints handling.
DEN GVT issued executive order (OG BEK 1558) on the Complaints Officer and Financial Undertakings' Handling of Complaints that applies to Danish financial sector.
Provisions of Law
Executive order made as per s. 67(2), Act 718 of Jun. 13, 2023 on Insurance Business, 43(2) Danish Financial Business Act, cf. Consolidated Act 1013, Aug. 21, 2024.
Also, s. 12(2), Act on Insurance Intermediation, cf. Consolidated Act 806. Jun. 21, 2024, s. 8(2) Act on Company Pension Funds, cf. Consolidated Act 183 Feb. 26, 2024.
Refers to s. 29(2) Investment Funds Act, Consolidated Act 1163 Nov. 13, 2024, s. 7(2) Financial Advisers Act, and Investment Advisers and Mortgage Credit Intermediaries.
In addition, refers to provisions of Consolidated Act 1095 Oct. 21, 2024, s. 8a(2) of Act on Real Estate Credit Companies, cf. Consolidated Act no. 285 of 1 March 2023.
Includes s. 18(3) Act on Managers of Alternative Investment Funds, etc., Cf. Consolidated Act 231 Mar. 1, 2024, section 42(2) of the Act on Payments.
Also refers to Consolidated Act 53 Jan. 18, 2023, and s. 7(2) of Act 450 Apr. 24, 2019 on consumer loan companies, which affects companies under all these law provisions.
Details of Executive Order
Sets out scope, and general provisions on complaints officer and procedures for handling complaints, applicable to private and business customer relationships.
Effectiveness
Executive order enters into force on Jan. 1, 2025.
Executive Order no. 1219, Nov. 20, 2019 on the complaints officer and financial undertakings' handling of complaints is repealed.
