Danish Financial Supervisory Authority ends its annual accounting guidance letter for credit institutions and publishes a regulatory simplification logbook

The Danish Financial Supervisory Authority (Finanstilsynet) announced it will stop publishing its annual accounting orientation letter for credit institutions, known as the “Christmas letter”, and will instead communicate accounting reporting information on an ongoing basis in formats that make clear it is guidance rather than new rules. It also published an online logbook to increase transparency about its work on simplifying financial regulation. Finanstilsynet said the Christmas letter format had created uncertainty about whether the authority was imposing additional rules or expectations beyond existing regulation, which it does not intend. The logbook records regulatory simplifications Finanstilsynet has contributed to since the end of 2024 and will cover measures such as simplifying rules and regulatory reporting, increasing proportionality, improving the overview of applicable requirements, automating processes, and removing rules. The logbook will be updated continuously, and topics previously covered in the year-end letter will be communicated via other channels and formats going forward.