Law on the rule of financial activities, the law on securities trading, etc., the Act of Preventive Measures against the laundering of the proceeds and the financing of terrorism and various other laws, as well as the repeal of the law on banknotes in Greenland. 1)

(Appropriation of exposures, compulsory application of Danish accounting rules, authorisation and supervision of an auction platform for trade in CO 2 -quotas and common data centers etc.)

We, by God's grace, the Queen of the Danes, do our thing.

The parliament has adopted the following law, and we know that the following law has been approved by Parliament's consent :

§ 1

In the law of financial activities, cf. Law Order no. 885 of 8. August 2011, as amended by Section 14 of Law No 1. 1382 of 28. December 2011, the following changes are made :

1. I § 1 inserted after paragraph 1. 12 as new play :

" Stop. 13. Chapter 20 c shall apply to joint data centers. '

paragraphs 13 to 16 will then be referred to in paragraph 1. 14-17.

2. Section 1 (1). 15 and 16, there will be paragraph 1. The following shall be inserted : 16 and 17 shall be inserted :

" Stop. 16. For vendors and subcontractors for outsourcing companies, cf. Section 5 (5). 1, no. Twenty-four and twenty-five, section 347, paragraph 3. One and five, use. "

3. I Section 5 (5). 1, pasted as no. 27 :

" 27) Competent authorities :

The national authorities which, by law or other authority, shall be empowered to exercise supervision of company types covered by this law. ` ;

4. I § 5 pasted as paragraph 8 :

" Stop. 8. The financial supervision may lay down detailed rules on the rules laid down in paragraph 1. 1, no. ' 16 points (c) and (d) shall be referred to in paragraph 1 `.

5. Section 9 (1). 9, revoked.

Paragk 10 and 11 will then be paragraph 1. 9 and 10.

6. I Section 9 (1). 10, there will be paragraph 1. 9, the "Value Traders and Regulated Markets Operators" are changed to : "Value Traders".

7. I § 13 pasted as paragraph FOUR :

" Stop. 4. The SEC may lay down detailed rules for the financial institutions, the real credit institutions, the fund brokers and the investment management companies themselves, which may be included in the base chapter. ` ;

8. Section 31 (1). 11, revoked.

9. § 39, paragraph. 6, is hereby repealed and the following shall be inserted :

" Stop. 6. A financial undertaking wishing to provide services in a country outside the European Union or in a country not concluded by the Union in the area of the financial sphere shall give the Financial supervision thereof within one month before the end of the year ; the activities shall commence, with the indication of the country in which the undertaking is desired and the activities of the wish to be exercised. Should it not be possible to notify the Financial Control of the Financial Regulation within 1 month before the start of the activity, the notification shall be made as soon as possible.

Paragraph 7. Establishments shall inform the Finance-SEC of any change in the measures referred to in paragraph 1. 6 mentioned activities, no later than 1 month before the change is made. If it is not possible to notify the Financial supervision within this time limit, the notification shall be made as soon as possible. '

10. I § 62 (2) TWO, ONE. pkt., is amended ' notification of the Financial supervision ' shall mean the ' application for approval `.

11. I Section 78 (1). 1, no. 2, shall be replaced by "Director or Board Member" to : "direct or indirect holder of a qualified share, board member or director".

12. I § 125 a, paragraph 1 1, '2010 and 2011' to : '2010, 2011 and 2012'.

13. I § 125 a, paragraph 1 1, ' in accordance with paragraph 1. 2 ` shall be replaced by : `. Two and three.

14. I § 125 a pasted as paragraph 3 :

" Stop. 3. In the calculation of the requirement pursuant to paragraph 1. 1 may allow the Financial supervision to permit undertakings which are 1. In January 2010, or subsequently using an internal method for the assessment of the risk-weighted items for credit risk or operational risk, cf. § 143, paragraph 1. 3, apply the rules that apply before 1. In January 2011 for undertakings which do not apply an internal method to account for the risk-weighted risk items to credit risk or operational risk. `

15. § 183, paragraph 1. 4, ITREAS :

" Stop. 4. Financial undertakings and financial holding companies whose transferable securities are not included in trade in a regulated market in this country, in another country within the European Union or in a country with which the Union has concluded agreement ; Financial matters may, notwithstanding paragraph 1, 2 choosing to apply the standards referred to in paragraph 1. 3, on their corporate accounts. "

16. I § 183, paragraph 1. FIVE, ONE. pkt., the words ' annual report ` shall be replaced by : ' group accounts ' ; Three. Point. revoked.

17. I § 204, paragraph 1. 4, " § 242, 2. pkt., $256, 3. Pct. " to : " § 238 (4) 2, section 239 (4). 2, SECTION 242, 2. pkt., paragraph 256 (3). TWO. "

18. section 224, paragraph 1. 6, revoked.

19. § 226, paragraph. 5, revoked.

20. § 343 p, paragraph. 1, ITREAS :

The Financial Supervisory Board shall perform the supervisory functions of the European Securities and Markets Authority to the Financial Supervisory Authority pursuant to the Regulation of the European Parliament and of the Council on credit rating agencies. In addition, the Financial Supervisory Authority shall assist the European Securities and Markets Authority to carry out its tasks in the context of investigations of credit rating agencies and on-the-spot checks. `

21. § 343 p, paragraph. 2 and 3, revoked.

22. After section 343 p is inserted before Section XI is inserted :

" TITLE X C

Data Center Rooms

Chapter 20 c

Data Center Rooms

§ 343 q. In the case of joint data centres, this law is understood to be undertakings whose main activities include IT operational or development tasks for several financial undertakings, financial holding companies or subsidiaries of such undertakings, and which predominately is owned by

1) one or more financial undertakings, financial holding companies or subsidiaries of such undertakings in association or

2) one or more associations, whose members are mainly financial undertakings, financial holding companies or subsidiaries of such undertakings.

Paragraph 2. The rules laid down in this Chapter also apply to data centers that carry out essential IT operations for the common payment infrastructure, provided that several financial undertakings have significant ownership share in the common data centre.

Paragraph 3. The Financial supervision may, exceptionally, where special reasons are applied, dispensers from paragraph 1. 1 and 2. Exemptions shall be limited, but may be renewed.

§ 343 r. The rules on reassuring control and security measures in the IT area issued under this statutory section 71 (3). 2 shall apply mutatis muctis to common data centers.

Paragraph 2. The rules on outsourcing issued in accordance with section 72 a shall apply mutatis muthisis to common data centers if the common data centres outsource essential IT tasks performed for enterprises covered by the Act 5 (5). 1. "

23. I § 345, paragraph 1. 2, no. 1, "financial enterprises and financial holding companies" are replaced by : 'financial firms, financial holding companies and joint data centres'.

24. I § 346, paragraph. ONE, ONE. pkt., the ' financial undertakings ' and financial holding companies ' shall be replaced by the ' financial undertakings, financial holding companies and joint data centres `.

25. I § 347, paragraph. ONE, ONE. pkt., after ' financial holding ' s), the ' joint data centre ' shall be inserted : '.

26. I § 347, paragraph. 2, ' a financial undertaking and its branches or a financial holding company ` shall be replaced by ' a financial undertaking and its branches, a financial holding company or a common data centre '.

27. § 347 b ITREAS :

" § 347 b. The SEC may offer a financial undertaking, a financial holding company or a common data centre to conduct and conduct the cost of an unwilling enquiry into one or more of the financial activities of the financial undertaking, the financial holding ; holding the holding company or the common data centre, provided that the SEC assesses that this is of major importance for the supervision of the undertaking and is not subject to the usual investigation of the Financial Commission. The result of the unwilling enquiry shall be submitted in a written report, which shall be available within the time of the Financial Authority. The financial supervision can determine that the experts are qualified, cf. paragraph 2-6, to continuously report to the Financial supervision of the survey.

Paragraph 2. The unwilling enquiry shall be carried out by one or more expert persons. The financial undertaking, the financial holding company or the single data centre shall designate the qualified persons within the time limit set by the Financial Financial Authority. The financial supervision must approve the proposed experts.

Paragraph 3. The financial undertaking, the financial holding company or the single data centre shall provide the experts with the experts necessary for the conduct of the inferable investigation.

Paragraph 4. The experts shall provide a copy of the written report on the Review of the Financial Regulation, at the latest, at the same time as the report is handed out to the financial undertaking, the financial holding company or the common data centre.

Paragraph 5. The experts shall give financial supervision to the SEC immediately in relation to the non-determined investigation where the information is essential to the company ' s risk profile or business model, that may not result in an insignificant risk that such conditions may develop in such a way that the undertaking will lose its permit.

Paragraph 6. If the qualified person is unable to pass on the information in accordance with paragraph 1, the expert person shall not be dissused. 4 and 5 to the Financial supervision may be subject to the financial supervision of the Financial Authority other than the qualified person, including the financial undertaking, the financial holding company or the common data centre. ` ;

28. I § 354 (4)) 6, no. 12, Change the "Skittler" to the : "Curator, the divester".

29. I § 354 (4)) 6, no. 21, the words ' the Commission shall be deleted if it is required to carry out its duties in accordance with the Regulation (s) of the European Parliament and of the Council on credit rating agencies. ` ;

30. I § 354 (4)) 6, pasted as no. 30 :

" 30) Faroese supervisory authorities in the financial sphere provided that beneficiaries are subject to a statutory professional secrecy, which shall be at least equivalent to the confidentiality of the confidentiality of the conditions of confidentiality. 1 and that the recipients need the data to be provided for the purposes of their tasks, cf. however, paragraph 1 TWELVE. "

31. I § 354 (4)) 12, inserted after ' paragraph 6, no. Twenty-two : "and 30".

32. I § 354 c (3) 1, " a rating agency shall be replaced by Article 373 (1). 1 and 2 for infringement of ' to : ' a financial undertaking after Section 373 (1). 2, for the infringement of Article 4 (1). 1, i ".

33. § 354 c (3) 2 and 3, revoked.

34. I $360, paragraph. 2, is changed " cf. Section 361 (1). 1, no. 21 "for :" cf. Section 361 (1). 1, no. 20. "

35. Section 361 (1). 1, no. 7, revoked.

Number 8-30 becomes the second paragraph. 7-29.

36. Section 361 (1). 1, no. 26-30, No, no. The following shall be inserted after 25 to 29 and replaced by :

" 25) Mortgage cooperatives are covered by the Act on Panteing Companies pay $10,000. a year.

26) E-money institutions, cf. law on payment services and electronic money shall pay annually 60 000 DKK

27) E-money-institutes with limited authorisation, cf. law on payment services and electronic money shall pay annually 6,000 kroner.

28) Foreign investment undertakings covered by sections 18 and 19 in the Law on Investment Associations and so on pay annually 8 000 DKK

29) For each notification, notification or application for cross-border marketing of units in UCITS, cf. section 18-21 of the law on investment associations, etc., is paid 2,500 kr.

(30) A single data center will pay annually $53,000. If a single data centre for a financial year has less than 25 full-time employees, the single data centre will pay DKK 1000. "

37. I § 372 (2) 1, the words ', cf. however, paragraph 1 TWO. "

38. § 372 (2) 2, revoked.

paragraphs 3 and 4 are then referred to in paragraph 1. Two and three.

39. I § 373, paragraph 1, in the words ' section 39 (4), 1, 3, 4 and 6, ` shall be replaced by : ', 39. paragraphs 1, 3 and 4, and section 226 (4). Paragraph 1 and 2, and paragraph 1. FIVE, ONE. ' shall ` be replaced by '. 226, paragraph. One and two.

40. I § 373, paragraph 1, " § 343 j, section 404 (4), Articles 1, 2, 4 and 5, and Articles 14 and 24 (4), Paragraph 1 (b) of the European Parliament and Council regulation on credit rating agencies 'to :' § 343 j and § 404, paragraph 1. One, two, four and five, "

41. I § 373, paragraph 2, is inserted after ' Section 77 d (1). 1 ": and 2".

42. I § 373, paragraph 2, is inserted after ' § 347 b (b), 3 ":" and 6 ".

43. I § 373, paragraph 2, ' and Article 4 of the Council Regulation on the application of international accounting standards, as well as the regulation of the European Parliament and of the Council on credit rating agencies, but not Article 14 and Article 24 (2). The first subparagraph of Article 4 (1) (b) shall be : ' and Article 4 of the Council Regulation applicable to the application of international accounting standards and Article 4 (2). 1, in the European Parliament and Council regulation on credit rating agencies, '.

44. I § 373 a, paragraph. 1, the following ' shall be inserted after ' this law ` : ' and rules issued under this law `.

§ 2

In the Act of securities trading, etc., cf. Law Order no. 883 of 9. August 2011, the following changes are made :

1. I footnote to the title of the law ' and the Directive 2009 /44/EC of the European Parliament and of the Council of 6. May 2009 amending Directive 98 /26/EC on the final settlement of payment systems and securities settlement systems and Directive 2002//47/EC on financial security agreements with respect to linked systems and debt claims, EU Official Journal 2009, no. in writing.-(EL) L146, page 37 " for Directive 2009 /44/EC of the European Parliament and of the Council of 6. May 2009 amending Directive 98 /26/EC on the final settlement of payment systems and securities settlement systems and Directive 2002//47/EC on financial security agreements with respect to linked systems and debt claims, EU Official Journal 2009, no. In 146, page 37, parts of the European Parliament and Council Directive 2010 /73/EU of 24. November 2010 amending Directive 2003 /71/EC on the prospectus to be published where transferable securities are offered to the public or to be admitted to trade and Directive 2004 /109/EC on the harmonisation of transparency requirements in the context of information on issuers whose securities are included in trade in a regulated market, EU Official Journal 2010, nr. Regulation No 327, p. 1 (amendment of the Prospectus Directive) and Regulation No 2 of the European Parliament and of the Council 1031 /2010/EU of 12. November 2010 on the time and administrative process of auctioning emission allowances for greenhouse gas emissions and other aspects related to such auctions pursuant to Directive 2003 /87/EC of the European Parliament and of the Council on a scheme for trade in emission greenhouse gas emissions in the Community '.

2. I Section 7 (2). 6 and 7, is changed " cf. paragraph 4 "to :" cf. paragraph FIVE. "

3. I Section 7 (a) (a) 2, is changed " cf. Section 9 (1). Ten, in the law of financial activities. " to : " cf. § 17, paragraph 1. TWO, TWO. and 3. Pct. "

4. I § 8 (3) ONE, ONE. pkt., the following shall be inserted after ' Company covered by section 7 (4) ; 1, ":" and an operator of the regulated market operation of a multilateral trading facility ".

5. The following section 8 is inserted :

" § 8 b. A foreign operator authorised to operate a regulated market or a multilateral trading facility in another country within the European Union or in a country with which the Union has entered into agreement in the financial sphere can be used ; allow remote members, participants or users in this country to access the regulated market or the multilateral trading facility when the SEC has received notification from the supervisory authorities of the operator ' s home country.

Paragraph 2. A foreign operator may obtain the Finance-Aid Authority to operate a regulated market or a multilateral trading facility in this country, provided that the operator is established in another country within the European Union or in a country with which the Union is to : the contract concluded in the financial sphere and where the competent authority of the operator of the operator has authorised the operator and supervising the operator in accordance with the legislation of the home Member State, by which Section III of Directive 2004 /39/EC has been granted ; (MiFID directive) has been implemented. Authorisation may be granted if the operator meets the conditions laid down in Article 8 (3). 2, with the necessary adaptations. The requirements for the Financial supervision in section 8 (3). 5 shall apply to the examination of the application.

Paragraph 3. When a foreign operator is authorized in accordance with paragraph 1. 2, this law applies to the operator and its activities in this country.

§ 8 c. A regulated market may be authorised in Denmark to be an auction platform in accordance with Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation).

Paragraph 2. Authorisation pursuant to paragraph 1. 1 is conditional on the regulated market and its operator satisfying the requirements of Chapters 3 and 4 of this Act with the necessary adaptations.

Paragraph 3. If the operator of the regulated market is not established in Denmark, the authorisation of paragraph 1 shall be authorised. 1 is given if :

1) the regulated market fulfils the requirements of Chapters 3 and 4 of this legislation, with the necessary adjustments, and

2) the operator is established in another country within the European Union or in a country concluded by the Union in the area of the financial area and the competent authority of the operator of the operator has granted the operator permission and supervision of ; the operator in accordance with the legislation of the home Member State, in accordance with the provisions of Title III of Directive 2004 /339/EC (MiFID Directive).

Paragraph 4. An operator may be permitted to operate a regulated market authorised to be auctioned in accordance with Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 the auctioning Regulation) in another country within the European Union, or in a country with which the Union has agreed to the financial sphere, if :

1) the operator meets the requirements of Chapters 3 and 4 of this law, with the necessary adaptations and adjustments ;

2) the competent authority of the regulated market of the regulated market shall authorise the regulated market in accordance with Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 The auctioning Regulation (auctioning Regulation) and oversight of the regulated market in accordance with the legislation of the home Member State, as provided for in Title III of Directive 2004 /39/EC (MiFID Directive) has been implemented.

Paragraph 5. Where the Financial supervision an application for authorisation is rejected, the applicant must be informed and communicated to the applicant within six months of receipt of the application or, if the application is incomplete, within six months of the applicant ' s submission of the information which is available ; needed to make the decision. Decision to be taken shall be made within 12 months of receipt of the application, in any case. Where the Financial Regulation does not have a full application for authorization by six months after the receipt of a complete request for a decision, the applicant may submit the case to the courts. '

6. I § 10 d (1) TWO, ONE. pkt., is amended ' notification of the Financial supervision ' shall mean the ' application for approval `.

7. § 17, paragraph 1. TWO, TWO. pkt., is hereby repealed and the following shall be inserted :

' An operator of a regulated market that wants to operate a multilateral trading facility as an alternative marketplace should be notified to the Financial supervision before the start of the alternative market place. Multilateral trading facilities, which have been operating before such a notice, can not subsequently be operated as alternative marketplace spaces. '

8. I Section 20 (2). SIX, ONE. pkt., is inserted after ' by the regulated market ' : ' or a multilateral trade facility `.

9. In the heading to Chapter 6 and in Section 23, paragraph 1. 4, no. 9, ' EUR 2,500 000 ` shall be replaced by the following : "EUR 5,000,000".

10. I Section 23, paragraph 1. 4, no. 10, "EUR 50,000000" is replaced by the following : "EUR 75,000,000."

11. I § 23 (1) (a) 1-5, "bridday" is changed to : "weekdays".

12. § 27 a, paragraph. 5, revoked.

Paragraph 6 becomes paragraph 6. 5.

13. § 27 b revoked.

14. § 28 A, paragraph 1 1, ITREAS :

' Leading staff in companies which have Denmark as a country of origin, cf. § 28, paragraph 1. 3, and where the company originated in a regulated market in this country, in another country within the European Union, or in a country with which the Union has concluded an agreement in the financial sphere or for which there is, submitted a request for admission to a market in such a market, the Financial Authority shall report to the Financial Authority a communication on transactions which they carry out on their own account and which relate to the company ' s shares or other securities linked to such products ; stock. The notification shall be transmitted electronically to the Financial supervision within two working days of the transaction. The SEC shall publish the notification immediately after receipt. ` ;

15. § 28 A, paragraph 1 THREE, TWO, FOUR. pkt., ITREAS :

" The message must be given to the executive officer within two working days of the transaction. The executive officer shall report electronically a message with the information received to the Financial Regulation no later than two working days after receipt of the notice. The SEC shall immediately publish the notification. '

16. § 28 A, paragraph 1 5, revoked.

Paragraph 6-8 is then being referred to in paragraph 1. 5-7.

17. § 28 A, paragraph 1 6, there will be paragraph 1. the following text shall be replaced by

" Stop. 5. The duty of a senior staff to report notification in accordance with paragraph 1. ONE, ONE. pkt., and to notify the notification of information received in accordance with paragraph 1. 3, 3. rectangle, enter first if the liquids of the transactions carried out during a calendar year have been carried out by the leading employee and of the immediate persons of the senior officer concerned together shall constitute a sum of EUR 5 000 or more. If the amount of the threshold of EUR 5 is exceeded, the transaction shall be notified of the transaction at which the threshold is exceeded and all subsequent transactions in the calendar year concerned. '

18. I § 28 A, paragraph 1 7, there will be paragraph 1. 6, shall be deleted ' and report (s) after paragraph 1. FIVE. "

19. I § 28 A, paragraph 1 8, there will be paragraph 1. 7, is replaced by ' paragraph 1. One to seven : " ONE-SIX.

20. I § 37, paragraph. ONE, ONE. pkt., the ' Issuer of transferable securities admitted to trade in a regulated market ` shall be replaced by the following : ' A issuer who has Denmark as a country of origin, cf. § 28, paragraph 1. The third paragraph of Article 34 (3), which has securities as referred to in Article 34 (2) 1, no. 1, "

21. I § 37, paragraph. TWO, ONE. pkt., the ' Issuer of securities shall be amended as referred to in Article 34 (1). 1, no. 1, ' to : ' A issuer who has Denmark as a country of origin, cf. § 28, paragraph 1. The third paragraph of Article 34 (3), which has securities as referred to in Article 34 (2) 1, no. 1, "

22. I § 40 inserted before paragraph 1. 1 as new paragraph :

' In the case of a multilateral trading facility, a trading system, with the exception of regulated markets which, within the system and in accordance with non-derogatory rules, puts the interest of different third parties in the purchase and sale of financial instruments ; of § 2, nr. One-10, in the context of each other in such a way as to conclude an agreement on the transfer of the contract. `

Paragraph 1 shall then be paragraph 1. 2.

23. In the heading to Chapter 12 and in § 43, paragraph. 1, is replaced by ' between EUR 100 000 and EUR 2 000 ' to : "between EUR 1 000 000 and EUR 5 000 000".

24. I § 43, paragraph. 1, the words ' which are not available for trade in a regulated market ` ;

25. I Section 44 (2). FIVE, ONE. pkt., shall be inserted after ' Directive 2003 /71/EC ` : `, as amended by Directive 2010 /73/EU `.

26. I § 83, paragraph. 1, pasted as Three. Point. :

' Financial supervision of the Commission shall ensure compliance with Articles 37 to 42 of the Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation) ` ;

27. § 83, paragraph. TWO, ONE. pkt., ITREAS :

' The Fund for issuers of securities issued in Denmark shall verify that the rules relating to financial information in annual reports and sub-annual reports in section 183-193 of the Act of financial activities, sections 63 and 64 of the Act of Law, the investment associations, etc. and the annual accounts of the annual accounts are complied with if the securities are admitted to trading in a regulated market in this country, in another country within the European Union or in a country with which the Union has concluded its agreement ; financial area. "

28. § 83, paragraph. THREE, ONE. pkt., ITREAS :

" The check for paragraph shall be checked. 2 also includes the control of the rules of financial information in the year and sub-annual reports of issuers that have Denmark as a country after Article 28 (1). 3, no. 2, as laid down in the accounting legislation to which the issuers concerned are covered, cf. § 27, paragraph. SEVEN. "

29. I § 83, paragraph. 11, in the words ' section 33 (4), 5, section 40, paragraph. 1, no. 1, 2 and 4, ' to : section 40 (4). 2, no. One, two and four, "

30. I § 83 a, paragraph. 1, no. 3, the words ' section 27 b (b), TWO, "

31. I § 83 a, paragraph. 1, no. 3, ' 28 (a) (a), 5, ' to : ' § 28 a, paragraph 1. One and three, "

32. I § 84, paragraph. 2, no. 2, the words ' and '.

33. I § 84, paragraph. 2, no. 3, is changed "information business." to : 'information business and'.

34. I § 84, paragraph. 2, pasted as no. FOUR :

" 4) shall take a decision in respect of compliance with Articles 37 to 42 of the Commission Regulation No 2, 1031/2010 of 12. November 2010 (CO 2 in principle, the auctioning Regulation) and in cases which have significant implications for the actors on the auctioneer ' s platform. ` ;

35. I Article 84 (a) (a) 6, no. 11, Change the "Skittler" to the : "Curator, the divester".

36. I Article 84 (a) (a) 6, is inserted after no 19 as new number :

" 20) The auctioneer in accordance with Commission Regulation No 2, 1031/2010 of 12. November 2010 (CO 2 The auctioning Regulation shall be used for the performance of its functions. ` ;

Amendments Nos 20 and 21 will be no. 21 and 22.

37. I § 84 c (2) (c) 1, is inserted after ' Section 84 (1). 2, no. 1 ":" and 4 ".

38. I § 84 d, paragraph 1 2, no. 6, is changed " cf. § 28 A, paragraph 1 Articles 1, 3, 5 and 7, and provisions adopted pursuant to Article 28 (a) (a), 8, "to :" cf. § 28 A, paragraph 1 Articles 1, 3 and 6, and provisions adopted pursuant to Article 28 (a) (a), SEVEN, "

39. § 84 d, paragraph 1 2, no. 11, ITREAS :

" 11) the rules on takeover bids, cf. Section 31 (1). Paragraph 1, and section 32 (2). 1-3, and of provisions adopted pursuant to section 32 (3). FOUR, "

40. I § 84 d, paragraph 1 2, no. 15, the words ' and '.

41. I § 84 d, paragraph 1 2, no. 16, in the words ' section 37 (4), 10. " to : ". 37, paragraph. 10, and ".

42. I § 84 d, paragraph 1 2, pasted as no. 17 :

" 17) the rules laid down in Articles 37 to 42 of Commission Regulation No 2, 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation) ` ;

43. I § 84 d, paragraph 1 5, in section 93, paragraph, THREE, ONE. and 2. Pct. " to : " § 93, paragraph. THREE, ONE. and 3. Pct. "

44. I § 88, paragraph. 1, is inserted after 1. Act. :

' In accordance with Articles 37 to 42 of the Commission Regulation No, the same applies to decisions taken by the Financial Regulation. 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation) ` ;

45. § 92, paragraph. THREE, ONE. pkt., ITREAS :

" Calls an operator of a regulated market, a clearing house, or a securities central not capital requirement in section 8 (5). 2, no. 2, or the individual capital requirement laid down in section 15 (3). THREE, FOUR. pkton, the Financial supervision may either set a time limit to bring the capital up to the requirement or to withdraw the authorisation immediately. '

46. After Article 92 (a) is inserted in Chapter 27 :

" § 92 b. The financial supervision may include a permit in accordance with Article 8 (c) (c). 1 or 4 if :

1) the establishment does not commence within a period of time, or, if no time limit has been specified in the authorisation, within 12 months of the authorisation,

2) the establishment is not carried out in a continuous period of more than six months ;

3) The auction platform or its operator crude or repeatedly overrides his duties in accordance with Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 the auction of the auctioning Regulation), pursuant to Article 93 (3), this Act or Regulations issued in accordance with the law or injunction. 3,

4) the auction platform or its operator no longer fulfils the terms on which the authorization was announced or which subsequently has been added to the authorisation ; or

5) The SEC assesses that the auction process for auctioning does not take place in a safe, efficient and technically sound way for the auctioning process. '

47. I § 93, paragraph. 1, the words ' section 27 b (b), Paragraph 1 and paragraph 1. TWO, ONE. Pkton, ".

48. I § 93, paragraph. 1, in section 28 (a), Paragraph 1 (1). THREE, FOUR. pkt., paragraph FIVE, ONE. pkt., and paragraph. 7, ' to : ' § 28 a, paragraph 1. ONE, ONE. and 2. pkt., paragraph 3, 3. pkt., and paragraph. SIX, "

49. I § 93, paragraph. 1, replaced "§ 40," to : " § 40, paragraph. TWO, "

50. I § 93, paragraph. 3, is inserted after 1. Act. :

' The financial supervision may also provide a natural or legal person as to amend the relationship if it fails to comply with its obligations under the Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation) ` ;

51. I § 93, paragraph. 3, 3. pkt., there will be paragraph 1. THREE, FOUR. pkt., changes ' Befy ' s eyes after 1. and 2. Pct. " to : ' Befeys after 1. and 3. Pct. "

52. § 93, paragraph. 7, ITREAS :

" Stop. 7. The statute of limitations for infringement of the law or regulations issued under the law shall be 5 years. `

53. I § 93 A (3) (a) 1, the following ' shall be inserted after ' this law ` : ' and rules issued under this law `.

§ 3

In the law on preventive measures against the laundering of the yield and financing of terrorism, cf. Law Order no. 389 of 15. April 2011, the following changes are made :

1. Section 1 (1). 1, no. 7, ITREAS :

" 7) "Remittance services and issuers of electronic money."

2. Section 1 (1). 1, no. 9, ITREAS :

" 9) The branches of the foreign companies and agents in this country are engaged in the activities of the Member States in the country. 1-8 and 10. "

3. I Section 1 (1). 1, no. 11, the following shall be inserted after ' persons ' shall mean the following : ' including branches and agents of foreign undertakings ' ;

4. I Section 1 (1). 1, no. 12, the following shall be inserted after ' persons ' shall mean the following : ' including branches and agents of foreign undertakings ' ;

5. I Section 1 (1). 1, no. 13 (d) the words ' companies ' shall be replaced by ' undertakings or ` ;

6. I Section 1 (1). 1, no. 13 (b) (e) ' enterprises or ' shall be replaced by ' undertakings ' ;

7. Section 1 (1). 1, no. 13 (f) ; revoked.

8. I § 1 pasted as paragraph FOUR :

" Stop. 4. The Minister for the Industry and Growth Pact lays down detailed rules for the extent to which the law applies to undertakings and to persons covered by Commission Regulation No 2 ; 1031/2010 of 12. November 2010 (CO 2 -the auctionation Regulation) ` ;

9. I Section 3, paragraph 3. 1, pasted as no. 7 and 8 :

" 7) Apartment : Customers, which are assisted with stand-alone transactions or individual counselling tasks, where a regular customer relationship has not been established or engaged in a business relationship.

8) Confidential information : Information about the credential that is provided to verify that identity information is correct. "

10. I § 7 pasted as paragraph 6 :

" Stop. 6. The SEC may lay down detailed rules on the maintenance obligation to the State Prosecutor of Special Economic Crime, cf. paragraph 1. "

11. I § 11 the following shall be inserted after ' transaction ` : ' or advisory task `.

12. § 14 ITREAS :

" § 14. If the transaction does not exceed a sum that corresponds to the value of EUR 1 000, the requirements of sections 12, 15 and 19 may be omitted. Fulfillment of the requirement in section 12 (3). THREE, TWO. and, from a risk assessment, may be omitted if the transaction does not exceed the sum of EUR 15 000.

Paragraph 2. In the case of assistance for the litensis; with stand-alone advisory tasks, compliance with the requirements of sections 12, 15 and 19 shall be omitted. '

13. Section 15 (3). 4, ITREAS :

" Stop. 4. The requirement of paragraph 1. TWO, ONE. points shall not apply where the person concerned is covered by the circle of undertakings referred to in section 21 (1). 1, no. 1. "

14. § 16 ITREAS :

" § 16. The rules governing the information to accompany a cash transfer shall be regulated in the Regulation of the European Parliament and of the Council on the information to be sent on the payment of transfers of money, cf. however, paragraph 1 Two, three and five.

Paragraph 2. This Regulation shall not apply to transfers of funds within or between Denmark, the Faroe Islands and Greenland in the purchase of goods and services, when :

1) the amount does not exceed the amount of the EUR 1 000 ;

2) the payee of the beneficiary shall be subject to this law or equivalent rules for the Faeroe Islands or Greenland ; and

3) the payee ' s payment appropriations by means of a unique reference number may be found to the legal or physical person on which the payee has agreed to the delivery of goods or services.

Paragraph 3. The requirements for the information to accompany a cash transfer, cf. Article 5 of the Regulation shall not apply to transfers of money to organisations with a non-profit purpose, when :

1) the transferred amount does not exceed EUR 150 ;

2) the transfer shall be carried out within or between Denmark, the Faeroe Islands and Greenland ;

3) the organisation is subject to clearance of accounts and

4) the organisation shall be subject to official supervision or external audit carried out by a state sautorised or registered auditor.

Paragraph 4. Derogation by paragraph 3 is conditionally subject to the organisation ' s registration in the Financial Authority and documents the fulfilment of the requirement for financial reporting and either external audit or public supervision. The organisation shall also provide information on the natural persons constituting the upper management of the organisation or, by the way, exercising control of the company. Changes in the 1. and 2. Act. the aforementioned conditions must be reported to the Financial supervision.

Paragraph 5. The rules applicable to cash transfers within Denmark, pursuant to the Regulation, shall apply mutatis mucoffers to transfers within the Faroe Islands and Greenland and between Denmark, the Faroe Islands and Greenland. `

15. The title before section 17 is replaced by the following :

"Aid from third parties."

16. § 17 ITREAS :

" § 17. The activities covered by the law involved undertakings and persons shall be unable to obtain information, etc., in accordance with section 12 (2). 1-4, section 15 and section 19, paragraph 1. 1, 2 and 4 if the information is made available by one of the sections referred to in section 1 (1). 1, no. an undertaking or a similar undertaking within the European Union, a country to which the Union has concluded an agreement in the financial sphere or a similar undertaking in a third country governed by the requirements of a country within the European Union ; on the control of the laundering of the laundering and financing of terrorism corresponding to the requirements of this Act ; this undertaking shall be referred to in this chapter as a third party.

Paragraph 2. The undertakings and persons covered by the law shall obtain sufficient information on third parties to lay down the measures to combat the laundering of the laundering and financing of terrorism corresponding to the requirements of : this law.

Paragraph 3. The third party shall undertake to make the aforementioned information available to the undertaking or subject to the subject of the law without delay. In addition, third parties must undertake to submit appropriate control information and other relevant documentation to the company or subject to the law at the request of the third party.

Paragraph 4. Notwithstanding paragraph 1 1-3 the person concerned or person shall be responsible for compliance with the rules.

Paragraph 5. Paragraph 1 shall not apply to persons and undertakings covered by the law established in a country outside the European Union, which the Union has no agreement with in the financial sphere, provided that the Commission, in accordance with Article 40 (1), is not in agreement with the territory of the European Union. Four, in 3. the money laundering Directive shall decide to exempt the country in which the establishment concerned is located. ` ;

17. § 18 ITREAS :

" § 18. Companies and persons covered by the law may choose contractual to outsource tasks that these must perform with a view to compliance with this law, to a supplier. However, it is a condition for doing so that, by the law, they included undertakings or persons before the conclusion of the outsourcing agreement ensures that the supplier has the ability and capacity needed to carry out the task in a satisfactory manner, and that the supplier has the permissions that must be a prerequisite for the supplier to take on the task.

Paragraph 2. Under the Agreement, the Supplier must carry out the task of carrying out the task in accordance with the requirements, and, on the basis of this, the defence of the outsourcing agreement must be continually assessed.

Paragraph 3. Regardless of outsourcing, the company or person is responsible for compliance with the rules. "

18. Section 19 (1). 2, no. 3, ITREAS :

" 3) Require that the first payment of the transactions is carried out via an account opened in the name of a financial institution or a similar establishment in a country within the European Union, a country with which the Union has concluded agreement ; in the financial sphere or a third country subject to the requirements for the control of the laundering and financing of terrorism, which are similar to the requirements of this law, and control of compliance with these requirements. ' ;

19. I Section 19 (1). 3, the words ' and issuers of electronic money ` shall be replaced by ", payment institutes and e-money institutions '.

20. Section 19 (1). 3, no. 1, ITREAS :

" 1) obtain sufficient information on the institution concerned to fully understand the nature of its business and, on the basis of publicly available information, assess the reputation of the institution concerned and the quality of the added quality, including : information on the question of whether the institution in question is subject to a custody investigation or has received sanctions from the public authorities for infringement of rules on combating the laundering of the laundering and financing of terrorism, '.

21. Section 19 (1). 3, no. 2, ITREAS :

" 2) obtain sufficient information to ensure that the institution concerned has adequate and effective control procedures in order to comply with rules on combating the laundering of the laundering and financing of terrorism ; '.

22. I Section 19 (1). 3, no. 3, the following shall be inserted after ' day-to-day management ` shall mean the establishment of the correspondent connection '.

23. I Section 19 (1). 6, the words ' and issuers of electronic money ` shall be replaced by ", payment institutes and e-money institutions '.

24. Section 21 (1). 1, ITREAS :

" LegitimationRequirements in section 12, paragraph. 1-4, and section 15 may be omitted for a risk assessment when the Customer is

1) one of the sections referred to in paragraph 1 (1). 1, no. 1 8, 10 and 19, mentioned undertakings or a similar undertaking established in a country within the European Union, a country concluded by the Union in the financial sphere or a third country subject to the requirements for the control of : the whitewashing and financing of terrorism, which correspond to the requirements of this law, and control of compliance with these requirements,

2) a company whose transferable securities are included in trade in a regulated market, or

3) an internal public authority. ` ;

25. Section 23, paragraph 1. 1, ITREAS :

" The laws covered by the law involving undertakings and persons shall keep identity and control information for at least five years after the customer relationship has been discharged. Copy of credential documents caught up in accordance with sections 11, 12, 14, 15 and 19 can be stored. "

26. I § 25, paragraph. 1, pasted as Act 2. :

' In addition, adequate written internal rules shall be drawn up concerning compliance with the regulations of the European Parliament and of the Council on the information to be sent on the payment of money transfers where this is relevant and Regulations containing rules on financial penalties against countries, persons, groups, legal entities or bodies. ` ;

27. I Section 31 (1). 2, pasted as Act 2. :

" Penal Code Section 78, paragraph. 3, shall apply mutatis mutis. `

28. I § 34, paragraph. 3 and 4, the following shall be inserted after ' recruited ' means ', cf. Section 78 (1). Two, in the penal code. "

29. I § 34 pasted as paragraph 8 :

" Stop. 8. The supervision of branches and agents for payment institutes and e-money institutes in another country within the European Union or in a country with which the Union has concluded agreements in the financial sphere shall be exercised in cooperation with : the supervisory authority of the home country of the institution. `

30. I § 37 pasted as paragraph 8 :

" Stop. 8. The limitation period for infringement of the law or rules issued under the Act shall be 5 years. `

31. Annex 1, no. 4, ITREAS :

" FOUR. Commercial and physical transport. "

32. Annex 1, no. 5, ITREAS :

" FIVE. Issue and administration of travellers ' cheques, bank bills and similar payment instruments `.

§ 4

On the supervision of company pension funds, cf. Law Order no. 1561 of 19. In December 2007, as last amended by Section 231 of Law No 1. 456 of 18. In May 2011, the following change is made :

1. § 66 b, paragraph. 2, no. 2, revoked.

Amendments Nos 3 and 4 are then number two. Two and three.

§ 5

In the area of mortgages and mortgage bonds, etc., and so on, cf. Law Order no. 1261 of 15. November 2010, as amended by Section 31 of Law No 1. 718 of 25. June 2010 and Section 17 of Law No 1556 of 21. In December 2010, the following changes are made :

1. I Section 3, paragraph 3. 2, "35 years" is replaced by the following : "40 years."

§ 6

In the Act of a Guarantee Fund for depositors and investors, cf. Law Order no. 133 of 22. February, 2011, as amended by Section 30 of Law No 718 of 25. June 2010, section 1 of law no. 619 of 14. June 2011 and Clause 1 in Act 1. 1061 of 22. November 2011, the following change is made :

1. I Section 2 (2). 2, the words ' section 132 and 136 ` shall be replaced by : ' rules issued under § 128 (3). TWO, "

§ 7

Law No 436 of 14. In May 2007, the green paper in Greenland is hereby repealed.

§ 8

Law no. 456 of 18. In May 2011 on investment associations, etc. shall be amended as follows :

1. I § 128 pasted as paragraph 2 and 3 :

" Stop. 2. In compliance with the individual location limits referred to in paragraph 1. 1 may, however, a branch of an investment association must invest up to 20%. of the assets assets of the department in transferable securities and money archeque instruments issued by emitters in the same group.

Paragraph 3. Investment in accordance with paragraph 1. 1 and 2 shall apply to section 137-139 usage. `

§ 9

Law no. 517 of 17. June 2008 amending the law on financial activities and various other laws (Governing Board and Management Board members ' suitability and integrity, the implementation of the equal treatment directive, etc.) as amended by Section 14 of Law No 1. 392 of 25. In May 2009, the following changes are made :

1. I § 14 pasted as paragraph 5 :

" Stop. 5. The parts of section 10, which do not apply in accordance with paragraph 1. 3 is put into effect for the Faroe Islands, by means of a royal device, in whole or in part, in force for the Faeroe Islands, with the changes that the ferotable relationship states. '

§ 10

Law no. 512 of 17. June 2008 amending the Act on Preventive Measures against the laundering of the proceeds and the financing of terrorism and the Act of Financial Business Act (Penis transfers between Denmark and the Faroe Islands) is amended as follows :

1. § 1 revoked.

§ 11

Paragraph 1. The law shall enter into force on 1. March 2012, cf. however, paragraph 1 2-5.

Paragraph 2. § 2, nr. 9-13, 23-25, 30 and 47, enter into force on 1. July 2012.

Paragraph 3. § 1, no. 15 and 16, enter into force on 1. March 2012 with effect for the 2012 financial year.

Paragraph 4. The Minister for the Industry and Growth Pact provides for the time for entry into force of § 2. 14-19, 31, 38 and 48.

Paragraph 5. § 2, nr. 52, and section 3, no. 30, shall apply only as regards the entry into force of the law.

§ 12

Paragraph 1. sections 1 to 4, 6, 9 and 10 shall not apply to the Faeroe Islands and Greenland, cf. however, paragraph 1 2-5.

Paragraph 2. Section 5 does not apply to the Faroe Islands.

Paragraph 3. sections 1 to 3, 6, 9 and 10 may, by means of a royal device, be fully or in part in force for the Faeroe Islands and Greenland, with the changes that the ferry and Greenland conditions are changing.

Paragraph 4. Section 4 may, by means of a royal appliance, be put in full or in part by force for Greenland, with the changes which the Greenland conditions are to say.

Paragraph 5. Section 8 may, by means of a royal appliance, be set in full or in part by force for the Faeroe Islands, with the changes that the ferotable conditions are to be applied.

1) The law contains provisions that implement parts of the European Parliament and Council Directive 2010 /73/EU of 24. November 2010 amending Directive 2003 /71/EC on the prospectus to be published where transferable securities are offered to the public or to be admitted to trade and Directive 2004 /109/EC on the harmonisation of transparency requirements in the context of information on issuers whose securities are included in trade in a regulated market, EU Official Journal 2010, nr. Regulation No 327, page 1 (amendment of the Prospectus Directive), Regulation No 2 of the European Parliament and of the Council 1031 /2010/EU of 12. November 2010 on the time and administrative process of auctioning emission allowances for greenhouse gas emissions and other aspects related to such auctions pursuant to Directive 2003 /87/EC of the European Parliament and of the Council on a scheme for trade in the emission of greenhouse gas emissions in the Community and parts of Directive 2009 /65/EC of the European Parliament and of the Council ; July 2009 on the coordination of laws, regulations and administrative provisions on certain undertakings for collective investment in transferable securities (UCITS), EU Official Journal 2009, nr. L302, page 32.