Publication of the Rules of Procedure for the Financial Business Councils

Under section 345, paragraph 1. 11, in the law of financial activities, cf. Law Order no. 793 of 20. August 2009 :

Members of the Community's financial resources, alternates, and in particular experts

§ 1. The financial undertaking shall consist of a chairman with a legal or financial perspective, a Vice-President with a legal insight and 6 other members designated by the Economic and Industry Minister, on the recommendation of the in section 345 (3). 1, no. 3-8, in the law of financial activities mentioned organisations.

Paragraph 2. The members shall be designated for up to four years at a time and may be re-appointed.

§ 2. A suppleant shall be appointed for each member. In the case of a member, the suppleant shall, as far as possible, be provided on behalf of the Member. At the President-in-Office of the President, the Vice-President

Paragraph 2. The Suppletes are set and designated in the same way as those members.

§ 3. The Ministry of Economic and Business Affairs appoints 13 in particular to experts. The following shall be the case in particular :

1) 2 in particular, the Consumer Council shall be set by the Consumer Council.

2) 2 in particular, the Financial Council shall be set by the Financial Council.

3) 2 in particular, insurance & Pension must be suspended.

4) 2 in particular, the realcredited and the RealCredit Association of the RealCredit Association and the RealCredit Association, or separately, are suspended.

5) 2 in particular the expert nominate by DI, Denmark's Rederivatives, Danish Occupation, Trade Council and Agriculture and Food in conjunction with the Association of the Danish Industry, Denmark and Food Service.

6) 1 in particular, the Danish Fund Association shall be adjusted by the Danish Fund.

7) 1 in particular, the case of Danish Insurance and Pensioners is set to be suspended.

8) 1 in particular, the Health Fund ' s Supplementary Pension and the Expense Fund of the Labor Market Fund shall be adjusted in conjunction with the work market.

Paragraph 2. The government of the Ferry and Greenland national government appoints each one of them particularly experts.

Competence

§ 4. According to the rules which the Funding Company may be competent to do, the Council may :

1) Tree decision in

a) supervisory matters of principle, except for cases under section 43 of the Act of financial activities and other than cases relating to respect for section 183-193 of the Act of financial activities and rules issued under Article 196 of the Act of Finance undertakings for financial undertakings which have issued securities which are engaged in trade in a regulated market ; and

b) supervisory matters that have significant implications for financial undertakings and financial holding companies, except for cases under section 43 of the Act of Financial Action and, except for cases relating to compliance with § section 183-193 of the Act financial activities and rules issued under Article 196 of the financial undertaking for financial undertakings, which have issued securities which have been admitted to trade in a regulated market.

2) Counselor the Financial supervision for the purpose of

a) the issue of the supply of rules,

b) principle of principle in accordance with section 43 of the Act of Financial Company and

c) regulators of decent business practices and good practices that have significant consequences for financial undertakings and financial holding companies, as referred to in section 43 of the Act of financial activities.

3) Confusing the Finance-synet information company.

§ 5. The Financial Company Council shall decide whether or not to call the Public Prosecutor's Office for the indictment of the Law of Finance Company or other laws, following the jurisdiction of the law, as well as rules ; Issued in accordance with these laws.

Paragraph 2. The Financial Company Council may delegate this competence to the Financial supervision of the categories of cases covered by paragraph 1. 1.

§ 6. The Financial Business Council and the Financial supervision of the Financial Authority are as one authority.

Paragraph 2. The Council may, at any time, require all necessary information from the Financial supervision.

Paragraph 3. The SEC is conducting the Council's decisions.

Paragraph 4. Financial supervision presents matters for the council. The Council may request a case covered by section 4 for the treatment of the first-coming part-session.

§ 7. The Financial supervision may not, without presenting any specific cases for the Council, decide on matters of urgency because otherwise it would be wasted. The Financial supervision shall, as far as possible, discuss the matter with the President of the Council prior to the decision of the 7. The President of the Commission shall give a report on such decisions by the President at the latest in the first meeting of the Council.

§ 8. The SEC is conducting the negotiations with public authorities, organisations, businesses under supervision and private individuals. The same applies to cooperation with international organisations or other countries ' authorities.

Partsharing

§ 9. The Financial supervision is drawn up in the section 4. Paragraph 1 (a) and (b) and (b) The cases referred to in paragraph 2 (b) and (c) shall be subject to a reasoned draft decision, which shall be submitted in part shings before the matter shall be submitted to the Council. The release of the opinion shall be a minimum of three weeks, unless the case has already been submitted to the Council.

Paragraph 2. The draft Council decision shall include a recommendation on publication, including the existence of information to be exempt from publication. Where it is recommended that the decision be published, a draft decision shall be attached to the decision to be published. The company will have the opportunity to indicate in its consultation reply what information will, if appropriate, be removed from the draft decision, as envisaged before it is published.

Paragraph 3. If the consultation reply brings new information which leads to changes in the Financial Separator's draft decision, the amendments will be incorporated into the final draft decision submitted to the Council and sent to the party as provided for in the final draft decision. § 355 of the Act of Financial Company. This does not, however, apply if the consultation leads to significant changes to the unfavourable party for the party. In that case, the draft decision shall be sent back to consultation.

Paragraph 4. The right to a party hearing may be restricted or completely expunted if the case is of a particularly urgent nature. The right to a party hearing may also be restricted or disposed of if the party requests a quick decision and provides wholly or partially waiving the part sheping.

Council meetings

§ 10. The President-in-Office of the Council

Paragraph 2. The meeting of the meeting of the Council shall be held at the meeting of the Council, and, incidentally, the President shall have the opportunity to do so, or when three members or the Financial supervision make a request for the holding of a meeting to deal with more detailed questions. The Council's individual Members can covet a case to the subject of treatment in the Council.

Paragraph 3. Members shall be convenes at the meetings of the Council at least seven days ' notice, unless the President or the Financial supervision decides otherwise.

Paragraph 4. The meeting notice shall follow an agenda that contains an indication of the cases which will be dealt with. The material which is necessary to deal with matters must, as far as possible, be attached to the agenda. At the same time as the transmission of the material, it is made available at the Extranet of the Financial Business;

Paragraph 5. A member that has been prevented from taking part in a meeting shall notify the Council ' s Secretary of State as soon as possible. The member will make sure to convene and pass on material for the meeting to his alternate.

§ 11. The experts may, after the President's decision, take part in the meetings of the President. The request to this effect shall be made to the President of the Council of the Member whom the special expert has been appointed.

Paragraph 2. A maximum of two experts may participate in particular at the time of the processing of each case during the Council meetings.

Paragraph 3. The SEC shall send the necessary material to the experts in particular. The experts shall be required to receive only material for the treatment of the case in which they are to be included.

§ 12. In the case of the Council's handling of cases of good business practice and good practice, cf. § 345, paragraph 1. 2, no. In the case of financial activities, the consumer ombudsman shall be referred to the item on the agenda. The consumer ombudsman shall appoint a fixed suppleant who, at the time of the Consumer Ombudsman, shall, as far as possible, participate and shall have the same powers as the consumer ombudsman.

Paragraph 2. The consumer ombudsman has the same powers as members of the council in matters of refine business practice and good practice.

Paragraph 3. The SEC is sending the necessary material to the Consumer Ombudsman. The consumer ombudsman may only receive material for the treatment of the case for which the Consumer Ombudsman is to participate.

Paragraph 4. In the case of the Council's handling of cases concerning the issuing of rules of refine business practices and good practice, cf. § 43, paragraph. The members of the Council and the Consumer Ombudsman, in their own law on financial activities, shall make one of their comments to the presentation. Any different views on the presentation are reflected in these remarks.

§ 13. The CEO of the financial system, or who among the Finance stills employed this authority, and the Board ' s secretary shall attend the meetings of the Council. The staff of the President of the Commission may, with the consent of the President, participate in the meetings.

Paragraph 2. At the Council meetings, the Director of the Financial Supervisory Board shall report on the ongoing supervisory activities of the Financial Supervisory Authority, including on specific issues of interest to the Council.

Paragraph 3. The SEC shall ensure its own operation that the staff participating in the Council meetings shall be subject to the requirements for the emergency services.

Pretreme for the Council

§ 14. In the section 4, no. Paragraph 1 (a) and (b) and (b) The other cases referred to in paragraph 2 (b) and (c) shall have the right of the party to appear on the Council and to make a short oral contribution before the Council takes a decision. The duration of the oral question shall be limited to 10 minutes unless the President may, exceptionally, allow the speaking time of further duration. The President may decide that the right to apply falls in cases of a particularly urgent nature.

Paragraph 2. The oral question is a supplement to the written material in the case. The Commission shall notify the secretariat in writing no later than four days before the meeting, which shall be presented to the Council on the actual and legal circumstances of the entry for the Council.

Paragraph 3. The President may cut statements relating to matters which are of no consequence to the decision of the case. The President may permit the post-brief questions to be submitted after the short speech to the person who has requested the entry.

Paragraph 4. The President shall set the time for the oral question. If the requested event is prevented from meeting or not meeting the time of the lecture, the right of the forfeit shall be forfeit. In these cases, the advice is to be taken on the basis of this.

Paragraph 5. The person who has requested shall have the right to be present during the course of the sitting and at the time of the reply to any questions.

Stemmeregler

§ 15. The Council is quorum when at least half of the members participate in the treatment of a case. At least half of the participating members shall be independent members, cf. § 345, paragraph 1. 1, no. 1-5, in the law of financial operations.

Paragraph 2. The Council shall act by a simple voting majority of the members of the participating Member. In voting, the President's voice is crucial.

Paragraph 3. The Director of Finance, the Director of Finance, the Board of Finance and other members of the staff who are involved with the President's consent, have not voted on the council.

Paragraph 4. If a member is prevented from participating physically by a meeting of the Council, they may participate electronically. Electronic participation means telephone, via the Internet or other media with equivalent functionality.

§ 16. The President shall ensure that a protocol contains a record of the Council's decisions, as well as new significant points of view, which had to be made during the negotiations of the Council. The consumer ombudsman or a Member who does not agree with a decision has the right to have its opinion recorded in the minutes.

Paragraph 2. The Secretary-General of the Council shall, as soon as possible, draw up a summary of it and send it to the Members of the Chair. Members may refer to the minutes of the sitting at the following meeting. The members shall forward their possible objections to the Secretary in writing as soon as possible after receipt of the minutes.

Paragraph 3. At each meeting, all Members present shall sign the minutes of the last sitting.

Paragraph 4. The special experts and the Consumer Ombudsman shall be sent to the rapporteur the minutes of the item on which they have taken part in the treatment.

Inhability

§ 17. A Member may not participate or be present during the examination of a case if circumstances are appropriate to weaken confidence in the Member's impartiality of the case.

Paragraph 2. One Member has a duty to inform the President before the examination of a case, to inform the President that the Member may not participate in the proceedings or circumstances which may lead to doubts about the Member's hability. In this context, the Member shall reply to the questions raised by the President or other Members.

Paragraph 3. The Council shall decide for itself and without the participation of the member in question whether they can participate in the proceedings. The Council can delegate this competence to the President.

Paragraph 4. If the Council considers that the delivery of material relating to a case to an inhabilt member should not take place, the Council may decide that the material not, or not, at a specified time, must be handed over to the member concerned. The Council can delegate this competence to the President.

Paragraph 5. The issue of inhability should be included as a firm point on the Financial BusinessCouncil agenda.

Paragraph 6. Paraguations 1 to 5 shall apply by analogy to alternates, the experts and the consumer ombudsman.

Publicity

§ 18. The Financial Business Councils ' meetings are not public.

Paragraph 2. Publication of the name of the Council shall be published, subject to the decisions of the Council, which are aimed at establishments, cf. § 354 A in the Act of Financial Company. The decisions of the Council shall be taken to mean decisions of the Council or of the Financial supervision pursuant to section 7 (urgent matters which otherwise should have been submitted to the Council). Decisions taken by the Financial supervision in accordance with section 5 (5). 2, (Delegation from the Council) shall not be considered as Council decisions.

Paragraph 3. Publication under paragraph 1. However, 2 cannot be done if it would result in a disproportionate amount of damage to the establishment or, if, for the purposes of doing so, it is a public speaker against publication. The publication shall not contain confidential information on customer relations or information covered by section 12 (3). 1, in the law of public opinion in the management, or confidential information arising from the authorities of other countries, except where the authorities concerned have given their express permission.

Paragraph 4. The publication of decisions relating to the occupational pension allowance of the labour market, the Animal Health Fund and the Occupational Disedation of the Labour Market can also not be achieved if social considerations are opposed.

Paragraph 5. At the same time as the decision itself takes the advice of whether publication should be dispensed or whether there should be anonymisation of the decision.

Paragraph 6. In cases where publication has been failed in accordance with paragraph 1. 3 or 4, and where the omission of the omission is no longer applicable, publication shall be published without delay. This obligation for subsequent publication shall be valid for a period up to two years.

Paragraph 7. Publication under paragraph 1. Two shall be made when the party is informed and, as far as possible, the day after the decision has been taken. If the party has a deadline to comply with a decision, the publication shall only be published after the expiry of this period. If a company is to publish a communication to the market, the decision of the financial undertaking ' s decision shall wait for the company ' s announcement. Decisions will be published on the GL-7 website.

Paragraph 8. Paragrability 2 to 7 shall apply to the decisions of the Financial Business Enterprise to surrender cases to police investigation.

Confidentiality

§ 19. The members of the Financial Business Council, alternates, the particularly experts and the Consumer Ombudsman are subject to the obligation of professional secrecy under Article 354 of the Act of Financial Company. 1. Act. does not, however, apply to a full extent when processing matters concerning the issuing of rules of refine business practices and good practice, cf. paragraph 2.

Paragraph 2. In the context of the Council's handling of matters concerning the issuing of rules of refine business practices and good practice, they may be able to do so in paragraph 1. 1 persons, even if they are subject to special confidentiality, prior to the confidentiality of the meetings, discuss the matter in a wider circle. After the Financial Business Council has given its opinion on the matter, they may be able to do so in paragraph 1. 1 people publicly speak on their own positions. In the context of the prior discussions and subsequent statements, information on a business relationship, customers ' conditions or information which is confidential shall not be provided in the context of the previous discussions and subsequent statements.

Paragraph 3. Rule of paragraph (1) 2 does not alter the rules applicable to the processing of the material provided, cf. paragraph 4-7.

Paragraph 4. A Member may discuss cases covered by Section 4, with his suppleant and conveied material in connection with this to his alternate. To the extent that the experts have received material, cf. Section 11 (1). One Member can discuss this with the experts in particular. The Executive Director of the Chairperson and the GL shall be able to decide, in exceptional cases, that the Council's material may be discussed only by the members of the Council. This is indicated on the material sent.

Paragraph 5. The chairman and the Acting Director of the Financial Regulation may decide on the subject of section 4 (4) of the association. 2 and 3 is public record. This is indicated on the published material or shall be notified subsequently.

Paragraph 6. An undertaking which emits information on business or business secrets to the Financial supervision may, in the case of the President of the Council, make a motion that the information does not take the overall advice. The President shall decide, in the light of the nature of the crew, to what extent and under what form the information should be given.

Paragraph 7. The President may decide that written material first shall be redistributed at the meeting and returned at the end of the meeting.

Paragraph 8. The publication of a decision shall not mean that the documents in the case are exemplired from the confidentiality of the financial system, cf. § 354 of the Act of Financial Business.

Entry into force

20. The announcement will enter into force on the eighth. December, 2009.

Paragraph 2. At the same time, notice No 638 of 24. June 2008 on the Rules of Procedure for the Financial Corporate Council.