The Danish Financial Supervisory Authority has withdrawn three guidelines on boards’ evaluation of their collective suitability, effective Aug. 20, 2026. The withdrawal covers boards of life insurers and multi-employer pension funds, non-life insurers, banks and mortgage credit institutions, and forms part of the authority’s effort to simplify financial regulation. The authority considers separate self-evaluation guidance no longer necessary because board practices have developed. Financial firms’ boards must still continually assess whether they collectively possess sufficient knowledge, professional competence and experience to understand the firm’s activities, alongside the requirements that apply to individual board members.
2026-08-20Danish Finanstilsynet
Danish Financial Supervisory Authority withdraws three board suitability evaluation guidelines
The Danish Financial Supervisory Authority has withdrawn three guidelines on boards’ collective suitability evaluations, effective Aug. 20, 2026. Boards of affected insurers, pension funds, banks and mortgage credit institutions must still continually assess whether their collective knowledge, competence and experience are sufficient.