Financial Business Act.pdf

While this translation was carried out by a professional translation agency, the text
is to be regarded as an unofficial translation based on the latest official Consolidated
Act no. 286 of 4 April 2006. Only the Danish document has legal validity.
October 2006, GlobalDenmark Translations
(5) The provision of subsection (1) shall not prevent confidential information from being
divulged to:
1) The Danish Securities Council and the Financial Business Council.
2) Other public authorities, including the prosecution and the police, in connection with the
investigations and legal prosecution of criminal offences covered by the Criminal Code
or the supervision legislation.
3) The Minister concerned as part of his superior supervision.
4) Administrative authorities and courts hearing decisions made by the Danish FSA.
5) The Ombudsman of the Danish Parliament.
6) A parliamentary commission set up by the Danish Parliament.
7) Courts of inquiry set up by law or in accordance with the “lov om
undersøgelseskommissioner” (courts of inquiry act).
8) The standing committee of the Danish Parliament regarding the general financial
circumstances of a financial undertaking as part of parliamentary supervision of
administration with respect to financial undertakings which are in suspension of
payments or under bankruptcy proceedings where state guarantees or funds are
granted for the winding-up of said undertaking.
9) The Members of the Public Accounts Committee and the National Audit Office of
Denmark.
10) The bankruptcy court and other authorities participating in liquidation, bankruptcy
proceedings or similar procedures regarding the financial undertaking, as well as
persons responsible for the statutory audit of the accounts of a financial undertaking,
provided that such recipients of information need said information to perform their
duties.
11) Institutions managing depositor or investor schemes or insurance guarantee schemes,
provided that such information is required by the recipients for the performance of their
duties.
12) Danmarks Nationalbank (Denmark's central bank) and foreign central banks and well as
the European Central Bank, provided that such information is required by said banks in
their capacity as authorities within the field of monetary policy or provided that such
information is required by said banks for their monitoring of payment systems.
13) An institution which carries out clearing proceedings for securities or money, provided
that such information is required to ensure that said institution reacts duly to noncompliance
or potential non-compliance within the market where said institution is
responsible for clearing proceedings.
14) Financial supervisory authorities in other countries within the European Union or
countries with which the Community has entered into an agreement for the financial
area which are responsible for the supervision of financial undertakings, finance
institutions, investment funds (investment associations or special-purpose
associations), or the capital markets and bodies involved in the liquidation and
bankruptcy proceedings of financial undertakings or in other similar procedures, and
persons responsible for carrying out statutory audits of the accounts of the financial
undertaking provided that these recipients of information need it to perform their
duties.
15) Financial supervisory authorities in countries outside the European Union with which the
Community has not entered into an agreement for the financial area which are
responsible for the supervision of financial undertakings, finance institutions,
investment funds (investment associations or special-purpose associations), or the
capital markets and bodies involved in the liquidation and bankruptcy proceedings of
financial undertakings or in other similar procedures, and persons responsible for
EXCLUDING MINOR AMENDMENTS