Meet us at the Davos World Economic Forum 2019

The annual meeting of the World Economic Forum will take place in Davos-Klosters, Switzerland from 22 – 25 January 2019. The World Economic Forum Annual Meeting is the only yearly gathering that brings together leaders of global society.  Brad Furber will participate at the annual meeting and join the heads and members of more than 100 governments, top executives of the 1,000 foremost global companies, leaders of international organizations and relevant non-governmental organisations, the most prominent cultural, societal and thought leaders to define priorities and shape global, industry and regional agendas. If you would like to meet up at Davos please contact Brad Furber to schedule a meeting.

Legal 500 Denmark 2019 Edition

Carsted Rosenberg Advokatfirma is pleased to announce that the firm has been included as a leading law firm for banking & finance in Denmark by the Legal 500, 2019 EMEA Edition. The editorial notes the firm for “… a very personal service‘ thanks to ‘very good expertise and industry knowledge‘”.
In addition, both Michael Rosenberg and Dr. Andreas Tamasauskas have been individually recommended for their banking & finance work and for providing ” ‘clear and concise‘ advice”. We would sincerely like to thank our clients and colleagues across Europe for their solid support and consideration and we look forward to a continued success in 2019 and 2020.

Changes to Nasdaq Copenhagen’s Rulebook for Issuers

Nasdaq Copenhagen has conducted a revision of its Rules for Issuers of Shares of 3 January 2018. The changes to the rulebook will enter into force with effect from 1 July 2019. The revision is primarily caused by the implementation of the Shareholder Righs Directive, rule simplification and harmonisation of the issuer rules across the Nordic exchanges. The exchange has published the revised rulebook for issuers of shares together with a revised rulebook for issuers of bonds.

Carsted Rosenberg has prepared a brief overview of the recently published changes to the Nasdaq Copenhagen rulebook for issuers of shares and bonds. For all queries please contact Michael Carsted Rosenberg or Dr. Andreas Tamasauskas at Carsted Rosenberg.

The client briefing can be found here for download: 2019 Client Briefing on amendments to Nasdaq Copenhagen Rulebook.

Client Briefing on Danish Real Estate Law

Carsted Rosenberg has prepared a brief introduction to the main aspects of Danish real estate law to provide our clients with an overview of some of the the main issues pertaining to Danish real estate transactions and the taking of security. The guide is intended to assist with the structuring of real estate transactions with a Danish element or where the transaction is wholly governed by Danish law. For all queries please contact Michael Carsted Rosenberg or Dr. Andreas Tamasauskas at Carsted Rosenberg.

The client briefing can be found for download here.

Legal Update Denmark

The Danish Financial Supervisory Authority has on 1 August 2019 adopted a decision pursuant to which the marketing, distribution and sale of CFDs to retail customers is being restricted. For more information, read our brief legal update on the decision here.

Nasdaq First North becomes an SME Growth Market

On 1 September 2019 the equity segment of Nasdaq Firth North becomes an EU SME Growth Market and changes its name to Nasdaq First North Growth Market. Nasdaq Firth North covering Sweden, Denmark and Finland has received approval for the European Union SME Growth Market status, a sub-category of the multi-lateral trading facilities (MTF). SME Growth Markets are intended to facilitate access to capital for small and medium-sized enterprises (SME) and to avail them of certain regulatory reliefs. However, the equity segment of Nasdaq First North Iceland will not become an SME Growth Market at this juncture. Nasdaq First North’s transition to SME Growth Market will become effective on September 1, 2019, and the equity segment of the market in Sweden, Denmark and Finland will then be referred to as Nasdaq First North Growth Market. Nasdaq First North is widely regarded as one of the top European market places for SMEs with 280 new listings since 2015 and approximately EUR 3 billion capital raised by issuers. Other European MTFs that have received the SME Growth Market status include LSE/AIM, Borsa Italiana, Zagreb Stock Exchange, the Bulgarian Stock Exchange and the Warsaw Stock Exchange Group (NewConnect).

For more information please consult our legal update: Download Legal Update.

News Update

We are pleased to announce that Carsted Rosenberg Advokatfirma has been recognised in Banking & Finance and Equity Capital Markets as a notable firm in Denmark by the 2020 IFLR1000 Rankings. We sincerely wish to thank our clients, contacts and friends of the firm for their support and contributions to this result and we congratulate all other ranked law firms for their achievements.

Virtual Currency Exchanges Required to Register with the Danish FSA

As of 10 January 2020 providers of virtual currency and fiat currency exchanges and virtual wallets must be registered with the Danish Financial Supervisory Authority in accordance with the Money Laundering Act to do business in Denmark. Upon registration, they will be subject to the requirements of the Money Laundering Act which include:

making a risk assessment in relation to AML for the business; having policies, business procedures and controls to prevent money laundering and terrorist financing; conducting KYC in relation to all customers, including any enhanced KYC procedures; continuously monitoring the business relationships; conducting investigations of all complex and unusually large transactions, as well as all transaction patterns and activities that do not have a clear economic or legal purpose, to determine whether there is reasonable cause to suspect that they are or have been linked to money laundering or terrorist financing; and notifying the AML Secretariat of the State Prosecutor for Special Economic and International Crime (SØIK) if becoming aware of, suspecting or having reason to suspect that a transaction, funds or activity has or has been linked to money laundering or terrorist financing.

Meet us at the Future Legal Technology Forum 2019

LawTech and FinTech are increasingly becoming corner stones for efficent client services delivery and transaction management across all service industries, including the legal and financial services sector. Join us to discuss the latest developments and issues in London on 4 December at the Leonardo Royal Hotel Tower Bridge at the Future Legal Technology Forum together with leading experts from Barclays Ventures, HSBC, American Express, Shell, Ashurst, Lloyds Banking and Clifford Chance.

For more information see the link here.