Financial Compliance

Should your company have a compliance function?

Financial companies, e.g., banks, stockbroking companies, managers of alternative investment funds etc., must have a permanent, independent and effective compliance function.

The requirement for compliance functions applies regardless of the size of the financial company. Many start-up and medium-sized companies may therefore have a challenge in finding sufficient human resources or the necessary knowledge to handle the statutory compliance function.

Companies can outsource the function completely or partially to a competent supplier if this ensures adequate control of the supplier and the service provided. The Danish Financial Supervisory Authority’s latest practice in the area points in the direction that companies cannot confine with hiring an inexperienced employee to handle the company’s compliance. Outsourcing to Lund Elmer Sandager is therefore a very good solution.

If you are a newly started financial company and do not know how to handle compliance in your company, nor do you have the finances to hire an experienced compliance officer for the task, we help you get started with all the necessary tools to build and manage the compliance function.

If you are well underway with handling the company’s compliance but need to discuss and optimize your processes, e.g. because you have been given the role of the compliance officer in a new type of company, our team at senior level can be advantageous to use.

Our financial compliance services can be divided into the following variants:

1. Complete outsourcing where our specialists handle the execution of the controls etc. in collaboration with the company’s compliance officer.
2. Ongoing support for the compliance officer who oneself is responsible for the execution of the controls etc.
3. Occasional support to the compliance officer as required.

Regardless of which variant you choose, our specialists look for potential weaknesses in your organization, just as we constantly keep up to date with the latest legislation. After a further agreement, we can help you optimize your procedures and controls, just as we can provide advice regarding board work, documentation requirements, preparation of business procedures and policies, contact with public authorities, risk management, and reporting in general.

Lund Elmer Sandager’s specialists in banking and financial law have many years of experience in handling compliance functions at financial companies or supporting compliance officers in their ongoing work with compliance. We have many years of practical experience with financial companies at all stages of their existence and, not least, in-depth knowledge of financial regulation. Furthermore, can we help prepare necessary business procedures or policies.

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The regulatory conditions within the financial sector are constantly evolving, and it is, therefore, important to have an adviser who is always up to date on the latest new regulations, practices, guidance and recommendations. If you want to be updated on developments in legislation, but miss someone sorting out all the unnecessary information, you can sign up for our monthly newsletter.