The Danish Financial Supervisory Authority has published its annual 2026 report on fit and proper assessment practice for board members, executive managers and key function holders at financial firms. Covering assessments made in 2025, it explains how the authority applies suitability requirements in practice and uses anonymised examples of approvals and conditional approvals to show the qualifications, experience and integrity it expects firms to consider when appointing candidates. Assessments are made case by case using a holistic approach that considers the specific role, the firm’s business model and size, and the candidate’s education, sector experience, management background and other relevant competences. The examples span payment institutions, a small foreign exchange business, credit institutions and insurers, and illustrate that conditional approval can be used in special cases where limited competence or experience gaps can be addressed through training, mentoring, internal support or other temporary measures. Those conditions must be concrete, measurable and time-limited, and the period for meeting them should generally not exceed 18 months. The report does not include statistics on the number of cases or decisions.
Danish Finanstilsynet 2026-05-13
Danish Financial Supervisory Authority publishes 2026 fit and proper practice report covering 2025 assessments and conditional approvals
The Danish Financial Supervisory Authority has published its 2026 report on fit and proper assessment practice for board members, executive managers and key function holders at financial firms, based on assessments made in 2025. The report explains the authority’s holistic, case-by-case approach across different firm types and uses anonymised examples to illustrate when conditional approvals may be granted, including the need for concrete, measurable and time-limited conditions to address competence or experience gaps.