Obligation to notify
There is an obligation to notify the Danish Financial Supervisory Authority (FSA) about a suspicious order or a suspicious transaction which may constitute insider dealing, market manipulation or an attempt to engage in these. This obligation is laid down in article 16 of MAR, the market abuse regulation (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC).
The obligation to notify applies for any person operating a trading venue or trading facility as well as for any person planning or executing transactions as part of his/her profession.
In order to harmonise notifications in the EU, detailed rules have been laid down for the information to be included in the notification. These requirements to content are laid down in Commission Delegated Regulation (EU) 2016/957 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the appropriate arrangements, systems and procedures as well as notification templates to be used for preventing, detecting and reporting abusive practices or suspicious orders or transactions. The delegated regulation is found here.
In order to facilitate the notification process, the Danish FSA has prepared a Word form in accordance with the annex to the delegated regulation. The form may be used in connection with notification of suspicious orders or suspicious transactions. For guidance on filling in the form, we refer to the original annex which includes guidance to the individual fields.
Please find Danish form here (fillable Word file)
Please find English form here (fillable Word file)
The filled-in form and any appendices must be forwarded electronically to the Danish FSA by e-mail, firstname.lastname@example.org, att.: Market Supervision in Capital Markets Division 2. Forwarding must be made via secure mail with digital signature or from the company’s E-boks.