Regulatory Alerts2019-10-11
Order on Reporting Information to the Danish Financial Supervisory Authority Regarding Consumer Loan Businesses' Credit Agreements
The Danish Financial Supervisory Authority issued this order to mandate annual reporting by licensed consumer loan businesses regarding their outstanding credit agreements and creditworthiness assessments. The regulation requires companies to submit detailed data on credit terms, consumer demographics, default instances, and debt sales by March 1 each year. Failure to comply with these reporting obligations is subject to fines and potential criminal liability for legal entities.
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