Copenhagen Stock Exchange: New Rules Governing Publication Of Shareholdings

The Danish Parliament and the Danish Financial Supervisory Authority have adopted a number of rules designed to establish greater openness as regards the so-called insiders' private trading in their respective companies, if these companies are listed on a stock exchange or admitted to trading in an authorised marketplace.

In issue no. 28 of Focus, First Vice President Erik Bruun Hansen and Deputy Vice President Margit Hess Thaysen, Copenhagen Stock Exchange, outline the background to, the intention and contents of the new rules, which put the listed companies under an obligation to currently publish the management's shareholdings in the company.

In the article the authors define the so-called insiders, the information that they must give to the company and when as well as what information the company must pass on to the market via an announcement, and when the companies must publish such information.

The new rules enter into force on 1 October 2002.

Focus no. 19 can be accessed by clicking here.