In recent years, the members of the managements of financial undertakings have been subject to stricter requirements, including their personal liability. This is reflected in, for instance, stricter legislative rules and by the Danish Financial Supervisory Authority's quicker pursuance of specific matters, reassessment of the fit and proper status of members of management etc. 

At Plesner we have in-depth experience with respect to all aspects of these types of matters, and in several cases we have assisted both the member of management concerned and/or the relevant financial undertaking. We have been involved in the majority of the most notorious fit and proper matters in recent years, and we have assisted several clients during the long process involving the Danish Financial Supervisory Authority.

Normally, a typical process in connection with reassessment of fit and proper status will include the following:

• factual identification of the specific sequence of events og strategic considerations with regard to the case
• review of the Danish Financial Supervisory Authority's draft decision in the matter, including the Authority's assessment of the events and the role of the member of management
• drawing up of a response to the Danish Financial Supervisory Authority's draft decision
• review of the Danish Financial Supervisory Authority's consultation letter, which includes an assessment of the comments received
• potential interview with the board of the Danish Financial Supervisory Authority if it is found relevant
• assessment of the Danish Financial Supervisory Authority's decision and assistance with respect to press relations etc.

We also assist financial undertakings with fit and proper applications with respect to new members of management and with respect to the interpretation of fit and proper rules. We provide advice on the specific requirements for the members of management, and we have advised on, for instance, the new possibilities for obtaining conditional approvals of members of management.