DENMARK: Danish FSA publishes Order on ownership of AIFMs for Denmark substantial acquisitions

Wednesday July 2 2014

The Danish FSA has published the Order approving the ownership, acquisition or increase of a qualifying holding in companies seeking or having authorisation to manage alternative investment funds for Denmark substantial acquisitions.

Under the Act on Management of Alternative Investment Funds, prior approval of the Danish FSA is required for the acquisition of a qualifying holding (10% share capital or voting rights), and the increase of a holding beyond the thresholds of 20%, 33% and 50%, in an AIF manager.

The Order details the documentation requirements which must be satisfied when applying for approval, as well as the assessment criteria to be taken into account by the Danish FSA when evaluating the application.

The Order entered into effect on 1 July 2014.