22 October 2013

Very short time-limit for notification of whistleblower schemes within the financial sector

From 1 January 2014, internal whistleblower schemes will become mandatory within the financial sector. Schemes must be notified to the Danish Data Protection Agency no later than 8 November 2013.

New rules

New legislation is expected to come into force on 1 January 2014. From this date, it will be mandatory for the financial sector to have an internal whistleblower scheme.

The new act will ensure that the financial sector meets EU requirements on the establishment of whistleblower schemes.

Notification no later than 8 November 2013

All whistleblower schemes must be notified to and approved by the Data Protection Agency prior to the coming into force of the scheme.

The Agency has stated that notifications must be submitted no later than 8 November 2013 if the Agency is to have sufficient time to process the notifications, before the new rules come into force in 2014.

Procedure for notification

The Agency has introduced a special procedure concerning urgent notifications in relation to the approval of the financial sector's schemes. The sector may choose between a limited or an expanded procedure.

Only violations of the financial regulation may be reported under the limited procedure. The expanded procedure concerns more ordinary whistleblower schemes as we know them today.

Both procedures will meet the expected requirements for establishment of an internal scheme.

Adaptation of existing whistleblower schemes

Companies which already have an approved scheme must ensure adaptation of the scheme to ensure that it meets the new requirements.

The adaptation must be notified to and approved by the Agency.

Remember notification of the staff administration

In order for a whistleblower scheme to be approved, the company must first of all submit notification and obtain approval of its staff administration.

Notification of the staff administration must be submitted separately no later than 8 November 2013.

This notification may be submitted together with the notification of the whistleblower scheme.

We can help you

Horten can help you with the necessary notifications to the Agency.

We can also advise you on other legal aspects of whistleblower scheme, e.g. drafting of whistleblower policies and data processing agreements.

If you have any questions or just need an informal talk about whistleblower schemes, you are welcome to contact us.

For further information, see the guidelines (in Danish) of the Danish Data Protection Agency on datatilsynet.dk.

New rankings from Chambers

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Chambers nominates Horten as Greenland expert

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The recognised international ranking agency Chambers has ranked Horten as one of the country’s leading law firms specialised in the conditions prevailing in Greenland.

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Danish defence news: Offset collision and budget expansion ahead

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On 25 January 2018, the EU Commission opened infringement procedures against five member states including Denmark for not complying with the public procurement rules.

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Horten has entered into unique cooperation with Symbion and Accelerace where we will make a team of lawyers available for start-up businesses at the shared office facilities Horten CoLab.

Ten things to remember when drafting contracts

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Four new partners at Horten

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New rules on processing of payment data from 2018

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New Managing Partner at Horten

2 January 2018

Finn Schwarz, Attorney and Partner, has been appointed Managing Partner of Horten Law Firm as of 1 January 2018.

Tender Offer to shareholders of Copenhagen Airports

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Loans to property companies are not considered leverage in property funds

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IFLR1000 recognises 12 Horten partners

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Green Tech Challenge 2017

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Compliance: E-leaning in competition law

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ATP makes investment in Copenhagen Airports - tender offer expected

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Denmark accedes to the convention on jurisdiction

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New partner at Horten

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Horten Law Firm has admitted Christian Gregersen as equity partner.

New oil and gas strategy for the North Sea

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The International Comparative Legal Guide to Alternative Investment Funds 2017

28 June 2017

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Change in the regulation of investment advisors

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Final sale of LM Wind Power to General Electric

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Horten advances in new Chambers and Legal 500 rankings

19 April 2017

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Horten is part of Copenhagen Fintech Lab's Law Connect

20 March 2017

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Global Leaders in Law appoints Horten as exclusive partner for Denmark

10 January 2017

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New billion loan supports the development of Carlsberg Byen's largest phase so far

5 January 2017

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New partners

4 January 2017

With effect from 1 January 2017, Horten appointed Lars Lüneborg and Julie Arnth Jørgensen as partners.

Legalisation of loans to shareholders and members of management adopted

1 December 2016

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New Advisory Board is to advise the government on a circular economy

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Mezzanine Capital Partners grants EUR 15 million to MBL Gruppen

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IFLR1000 ranks eight Horten partners as Leading Lawyers and two as Rising Stars

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The international directory IFLR1000 recently published its Financial and Corporate Rankings for 2017. These rankings were good news for Horten, as we have increased the number of partners ranked as Leading Lawyers within their legal areas of expertise.

Legalisation of loans to shareholders and members of management

7 October 2016

Danish businesses will finally be able to grant loans to shareholders and members of the management in connection with the adoption of a new bill.

Horten on two committees at the Confederation of Danish Industry, DI

3 October 2016

DI has re-appointed Søren Hornbæk Svendsen as member of the Energy and Climate Policy Committee and Nina Henningsen as member of the Media Policy Committee.

Horten assists VPK Packaging Group with acquisition of Peterson Packaging

3 October 2016

On 3 October 2016, the Belgian packaging manufacturer VPK Packaging Group acquired the Norwegian Peterson Packaging A/S from Pemco A/S and Unitel A/S.

NETS awards shares to approx. 2,500 employees

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Axcel, PFA and PKA acquires control in Danish Ship Finance

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Danish Ship Finance, the leading Copenhagen based dedicated ship finance institution, today announced that its large owners Danske Bank A/S, Danmarks Nationalbank, A.P. Møller-Maersk A/S and Nordea Bank AB (publ) had entered into an agreement to sell their entire shareholdings equal to 72 per cent of the shares in Danish Ship Finance to a Danish consortium consisting of Axcel, PFA and PKA.

IPO of Nets

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Nets, the Copenhagen based digital payment provider, settled the sale and purchase of offer shares in its successful IPO on Nasdaq Copenhagen.

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Horten has advised Carlsberg Byen on the construction, financing and transfer of UCC Campus Carlsberg from NCC (contractor) to Carlsberg Byen (owner) and from Carlsberg Byen to University College UCC.

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Eckes-Granini acquires Rynkeby Foods A/S

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German-based Eckes-Granini Group GmbH (‘Eckes-Granini’), the leading producer of branded fruit-based beverages in Europe, has on 18 May 2010 acquired Rynkeby Foods A/S.

A/B Duegården was allowed to go bankrupt

11 May 2016

The Supreme Court has ruled in the widely publicized case A/B Duegården in liquidation vs. Nykredit Bank A/B and Nykredit Realkredit A/B.

New ratings from the international reference book Legal 500

4 May 2016

There are several good news for Horten in the new rankings, among these to new Tier 1-ratings in Media & entertainment and Telecoms.

Bill on registration of actual shareholders adopted

19 April 2016

On 1 March 2016, a bill on registration of actual shareholders was adopted by the Danish Parliament. The act will, among others, amend the Companies Act.

International women lawyers discuss the future of the legal profession

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Horten participates when 150 lawyers from all over the world meet in Berlin on 7-8 April under the headline "Law in a changing world – how women can contribute to innovation of the legal profession".

Horten Corporate Day 2016 - Danish companies at the forefront

18 March 2016

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Public-private investments in Greenland

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On 26 February 2016, Horten and Nuna Law Firm hosted a conference with focus on public-private investments in Greenland.