News

On 24 January 2023, the European Parliament reached a political agreement with the European Commission on the proposed changes to the Directive on Alternative Investment Fund Managers (known as the "AIFM Directive"). The purpose of updating the AIFM Directive ("AIFM II") is to enhance the existing level of investor protection, market efficiency, and supervision of the investment sector in the EU. In this article, Lund Elmer Sandager's banking and finance team examines the political agreement and provides an overview of which of the European Commission's original proposals have been retained and which have been removed from the draft AIFM II directive.

In November 2019, the EU Whistleblower Directive came into force. The Directive required EU Member States to implement the whistleblower protection in national law by December 2021 which many member states missed.

Navigating the rules of procurement, especially in the case of public procurement, can be a daunting task. But why are there so many rules? And how does one craft a good bid?

The proposed act on employment contracts and certain working conditions, which implements the European Parliament and Council Directive (EU) on transparent and predictable working conditions from 2019, was submitted for consideration on 29 March, and underwent its first reading on 13 April 2023. It is now scheduled for a second reading on 9 May, 2023, and a third reading on 11 May 2023.

On 29 March 2023, the Minister of Taxation presented a law to introduce a kilometer-based road tax. The law must be consistent with the Agreement on kilometer-based road tolls for trucks, which the previous government settled in June 2022 with several parties in the Danish Parliament.

The Legal 500, which is one of the leading legal directories based on market research and client feedback, has just published their rankings for 2023. Lund Elmer Sandager is once again recommended in seven different categories.

Lagercrantz has acquired Glova Rail A/S, a leading supplier of vacuum toilets for railway vehicles. Glova Rail A/S is renowned for its high-quality services, and the company will be a valuable addition for the highly active Lagercrantz Group.

On 18 November 2022, the European Securities and Markets Authority (ESMA) launched a consultation on new guidelines for naming sustainable funds, specifically funds that use ESG or sustainability-related terms. The consultation concluded in February, and in this update, we will take a closer look at the guidelines as they approach final adoption.

Presto Brandsäkerhet AB (“Presto”) has acquired the fast-growing First-8, a market leader in first aid in Denmark. The acquisition establishes Presto on the Danish market with a platform providing customers protection against fire and accidents throughout the Nordics. Presto is the Nordic region's largest fire protection and safety training company, helping companies create secure environments for people with advice, training, protection products and world-class service.

On 9 February 2023, the Minister for Immigration and Integration presented a proposed law to amend the Immigration Act. The proposal aims to implement the political agreement that the former government reached with several parties in the Folketing (the Danish parliament) in June 2022, which focuses on strengthening conditions for international recruitment in Denmark.

As a landlord, it is important to focus on the development of the property's income and expenses to protect the property's value over time, whether it is a commercial or residential property, or whether the rent is determined by the rules of cost-based rent, the rental value, market rent or the rules of free rent. In this article, we provide an overview of the rules for rent regulation.

In March 2022, the former government and labor market parties entered into a three-party agreement that, among other things, aims to strengthen efforts against sexual harassment in Danish workplaces. However, several initiatives to combat sexual harassment in the workplace require amendments to both the Equal Treatment, Occupational Health and Safety, and Vocational Education Laws, which have now been formally presented in a proposed law on February 1st, 2023.