Chapter 1	Scope of application
Chapter 2	Definitions
Chapter 3	Notification of placing on the market of foreign UCITS
Chapter 4	Formal requirements and the notification of changes and termination
Chapter 5	Penalty provisions
Chapter 6	Entry into force

Publication of the placing on the market of foreign UCITS in Denmark 1)

Purline of section 27 (2). 2, and section 190 (1). Three, in the law. 597 of 12. June 2013 on investment associations, etc. shall be fixed as follows :

Chapter 1

Scope of application

§ 1. The announcement shall apply to foreign UCITS covered by the European Parliament and Council Directive 2009 /65/EC on the coordination of laws, regulations and administrative provisions concerning certain undertakings for collective investment in transferable securities, which wish to : market its shares directly or indirectly in Denmark and has been approved by a competent authority in another country within the European Union or in a country with which the Union has concluded the financial area under the terms of the financial sector ; Directive 2009 /65/EC of the European Parliament and of the Council on the coordination of laws, regulations and administrative provisions, institutes of collective investment in transferable securities.

Chapter 2

Definitions

§ 2. For the purposes of this notice :

1) UCITS : A shortening of the English term ' Undertaking for Collective Investment in Transferable Securities ' for a UCITS covered by Directive 2009 /65/EC of the European Parliament and of the Council on the coordination of laws, regulations and administrative provisions provisions concerning certain undertakings for collective investment in transferable securities and which, pursuant to Article 1 (1) of this Directive, are institutes. 3, can be created

a) under contract as investment funds managed by investment management companies or management companies,

b) as "trusts" (unit trusts), or

c) in accordance with the rules of the association of investment firms (for example, UCITS).

2) A professional investor : an investor who possesses the necessary experience, knowledge and expertise to make its own investment decisions and make a correct assessment of the risks associated with it, cf. Annex 1 to Notice no. 1583 of 18. December 2013 on investor protection in the securities trade.

3) A retail investor, an investor who is not a professional investor.

4) Direct marketing : Any form of indication directed towards the Danish market in the pursuit of activities such as the UCITS intended to facilitate the marketing of units from an UCITS either through direct sales from the UCITS or through distributors.

5) " Indirect marketing " means any indication directed towards the Danish market, intended to promote the marketing of units from an investment institution by means of insurance contracts or to promote the marketing of other securities, including those of : other, but not limited to, bonds, whose course and risk-related are to be followed by the close, linear or transmission of the UCITS.

Chapter 3

Notification of placing on the market of foreign UCITS

§ 3. The notification procedure for Foreign UCITS is set out in the Commission Regulation No 2. 584/2010 on the implementation of Directive 2009 /65/EC of the European Parliament and of the Council with regard to the form and content of the standard declaration of notification and declaration of the UCITS, use of electronic communications between competent authorities ; authorities in the notification and procedures of checks and investigations on the spot, as well as the exchange of information between competent authorities. In addition, the details of the notification procedure will also be recorded in the Financial-synet website : www.finanstilsynet.dk/UCITS.

Paragraph 2. A foreign UCITS that wishes to market its shares directly or indirectly in this country must indicate the types of investors to whom the foreign UCITS is addressing, such as retail investors or professional investors and others.

Paragraph 3. A foreign UCITS that wishes to market its shares directly or indirectly in this country must in the prospectus, or in any addition to it, provide Danish investors with information on the Danish representative of the UCITS, cf. § 5.

Chapter 4

Formal requirements and the notification of changes and termination

Name

§ 4. A foreign UCITS is entitled to use the same name or the same designation for his company, which is used in the home Member State.

Paragraph 2. If the name or label poses the risk of confusion, the Financial supervision may require that the foreign UCITS adds an explanatory note to the name or label.

Representatives

§ 5. A foreign UCITS, whose shares are marketed to retail investors in this country, must have a representative with an office in this country in order to ensure the access of Danish retail investors for information and the settlement of shares.

Paragraph 2. The representative must be given permission as securities trades, cf. Section 9 of the Act of Finance, or as an investment management company, cf. § 10, in the Act of Finance. The representative may also be a filial, cf. Section 5 (5). 1, no. 19, in the law of financial activities.

Paragraph 3. The representative shall assist the retail investor at a request to the retail investor, the payment of the yield and the exchange of units and so on and help the investor in contact with the foreign UCITS. The representative can also do these tasks themselves. The representative shall also hand over the documents published by the Institute in its country of origin and provide information on the foreign UCITS on a request for a request by the UCITS.

Paragraph 4. Investors ' representations to the representative must have the same legal effect as representations to the foreign UCITS.

Paragraph 5. A foreign UCITS, which only wishes to market shares to professional investors, cannot have a representative if :

1) The UCITS only places its shares indirectly on retail investors by means of unit links established by companies under the supervision of the Financial supervision, cf. section 1 of the Act of Financial Company, or through a branch, cf. Section 5 (5). 1, no. 19, in the law of financial activities, or the foreign investment institution through agreements with Danish professional investors, ensure that the shares are not resold to retail investors ; and

2) declares that the foreign UCITS itself will not sell shares to Danish retail investors.

Change of information and so on

§ 6. A foreign UCITS must notify the Finance-vision of changes in the name and address within 14 days after the decision on the change has been made.

Paragraph 2. A foreign UCITS must inform the Financial supervision immediately, provided that it suspends the shares.

Publication of information

§ 7. The documents and information to be published by the foreign UCITS in their home country must also be published here in the country. Publicity must take place in the same way as in the home Member State. A foreign UCITS must, however, make sure that it is published in this country, provided that it is the home Member State ' s supervisory authority that publishes certain information in the country of origin. It must be shown in the prospectus or a supplement to this where the publication is taking place.

Paragraph 2. The people in paragraph 3. 1 documents and information referred to shall be drawn up for foreign UCITS in Danish, English, Norwegian or Swedish. If the original language is different from these, the document may be a translation into Danish, English, Norwegian or Swedish. The document with central inve-stormy information as provided for in Commission Regulation No 2. 583/2010 on the implementation of Directive 2009 /65/EC of the European Parliament and of the Council with regard to central investor information and the conditions to be met when the central investor information or prospectus is provided on a second-term medium than paper or via a website must always be written in Danish or in a Danish translation.

Paragraph 3. The foreign UCITS is responsible for the actions referred to in paragraph 1. 2 mentioned translations of information or documents, and the translations shall be credibly regiving the original information.

Termination of the placing on the market of shares

§ 8. The financial supervision may require a foreign UCITS to be discontinued in the market of its units in Denmark, where :

1) Whereas the measures taken by the UCITS to ensure the rights of investors for the payment of dividend and the introduction of units do not adequately guarantee the rights of Danish investors ;

2) the foreign UCITS has not paid any rights in due time, cf. § 10,

3) foreign UCITS is not placed on the market in accordance with the marketing material ;

4) the approval or supervision of the former UCITS or the competent authority of the home Member State shall be suspended ; or

5) Foreign UCITS is guilty of abusive or repeated infringement of the rules of this notice or other Danish legislation.

§ 9. When a foreign UCITS or a section thereof ceasels marketing its shares in Denmark, the foreign UCITS in question shall notify all Danish investors, within 14 days of its decision, to notify them of the decision ; The financial supervision of which departments are discontinued and the time for this.

Tax

§ 10. Foreign UCITS, who market its units in Denmark under this notice, pays tax to the Financial supervision in accordance with section 361 (1). 1, no. 26 in the law of financial activities.

Chapter 5

Penalty provisions

§ 11. The withdrawal of section 4 (4). 2, section 5, paragraph 1. 1-4 and Clause 6-9 shall be punished by fine when the infringement is intentional or gross negligence.

Chapter 6

Entry into force

§ 12. The announcement will enter into force on the 22nd. July, 2014.

Paragraph 2. Publication no. 1298 of 14. December 2012 on the marketing of foreign investment firms in Denmark is hereby repealed.

1) The announcement contains provisions which implement parts of Commission Directive 2010 /44/EU of 1. July 2010 on the implementation of Directive 2009 /65/EC of the European Parliament and of the Council with regard to certain provisions relating to mergers of funds, master-feeder structures and notification procedure, EU Official Journal 2010, nr. L176 s. 28.