Regulation

VP is subject to the Danish Act on Capital Markets and holds a licence as a Central Securities Depository under an European regulation.

VP holds a licence as a Central Securities Depository (CSD) under the European Regulation on improving securities settlement in the European Union and on central securities depositories (CSDR).

CSDR regulates the legal aspects of securities settlement and harmonises the requirements and supervision of all CSDs in Europe.

As one of the first CSDs in Europe, we received our licence from the Danish Financial Supervisory Authority (Finanstilsynet) with effect from 3 January 2018. With the licence VP obtained an European passport enabling us to provide services across the European Union.

Beside CSDR VP is subject to the Danish Act on Capital Markets, including relevant executive orders.

The Act on Capital Markets regulates among other things the Danish decentralised structure with Securities Account Controllers, netting, financial collateral and registration of rights.