New rule on disclosure of management members’ salary information

The Folketing is currently considering the proposed law, submitted on 6 October 2021, which aims to change the current requirement for management members’ individual salary conditions to be published in the annual report. The annual report must instead contain information on where the management members’ salary information can be found.

The changes in the rules for publication in the annual report are justified for data protection reasons.

In addition, the change only applies to the financial sector.

The proposed law is expected to enter on 1 January 2022, which is why the law change will apply to the drafting of annual reports to be submitted for the financial year 2021.

Read the Danish FSA’s press release here.

If you have any questions about the upcoming change in legislation, please do not hesitate to contact our employment law specialists Partner, Attorney Michael Møller Nielsen, Attorney Julie Flindt Rasmussen or Assistant Attorney Mina Faiz.