Reminder to UK firms providing cross-border investment services and activities into Denmark
Brexit: Investment firms holding a Danish third-country cross-border investment services and activities license, including investment firms holding conditional and temporary licenses granted to investment firms from the United Kingdom, should be aware that the Danish Financial Supervisory Authority (“DFSA”) is encouraging all applicants applying for either a license or a renewal of a Danish third-country cross-border investment services and activities license to apply before the 15th of April 2022 in order to ensure that the DFSA is able to access the application before the 30th of June 2022.
In an announcement the DFSA states that the Brexit conditional and temporary licenses for investment firms from the United Kingdom are expiring on the 30th of June 2022.
Failing to renew a third-country cross-border investment services and activities license in due time will result in the investment firm no longer being authorised to provide or perform investment services and activities on a cross-border basis to eligible counterparties or professional clients in Denmark.
Regardless of applying for a license or a renewal of a Danish third-country cross-border investment services and activities license, applicants must use the official Application Form provided by the DFSA in accordance with the Danish Act on Investment Firms and Investment Services and Activities.
The FSA's standard application form must be used for application. Following receipt of the completed application, the FSA will take up to 60 days to respond.