New rules on the protection of client funds

On 26 March 2015 the Danish Parliament decided that the unlimited coverage of client funds under the Danish Act on Guarantee Arrangement for Depositors and Investors (Lov om indskyder- og investorgarantiordning) will no longer apply. This amendment comes into force with effect from 1 June 2015.

In future the protection of client funds will be subject to the general maximum of EUR 100,000 per client in respect of each deposit bank. Any other deposits with the same deposit bank will be included when determining the amount.

For 12 months from the deposit an increased limit of EUR 10,000,000 applies to deposits relating to the purchase or sale of real estate that is not made for business purposes and an increased limit of EUR 150,000 applies to certain deposits having statutory social purposes and to certain compensation for crimes etc.

Plesner's handling of funds held on behalf of clients is described in our business terms.  

(This information was originally published 1 june 2015)

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