Regulatory Alerts2026-04-24
Report on Inspection of Board Follow-up on Costs and Returns at BankInvest Investment Company
The Danish Financial Supervisory Authority conducted a thematic inspection of BankInvest Investment Company and issued a binding order requiring the board to establish a comprehensive basis for assessing fund costs and explicitly document this in its governance materials. The regulator determined that the board’s current semi-annual cost reports lack comparative analysis against similar funds, thereby failing to adequately safeguard investor interests. Consequently, the investment company must revise its cost monitoring framework to ensure independent, evidence-based oversight aligned with statutory fiduciary duties.
Inspection Report 24-04-2026 The Danish Financial Supervisory Authority conducted a thematic inspection at BankInvest Investment Company on 20 November 2025. The purpose of the inspection was to examine whether the board conducts adequate follow-up on returns and costs in the underlying funds to ensure that investors' interests are adequately safeguarded.
The inspection was conducted in accordance with Section 163(1) of the Investment Funds Act and was carried out as part of a thematic inspection where the same area was examined in three different investment companies.
Summary and Risk Assessment
The board of an investment company must act independently and solely in the interest of the company [1]. Safeguarding investors' interests requires that the board of the investment company continuously addresses the fund's costs and compares them with the cost levels of comparable funds.
The board of BankInvest Investment Company receives semi-annual reports on the funds' costs. However, the cost reporting to the board does not include an analysis of individual cost components compared with the cost levels in comparable funds.
The investment company has therefore been issued an order to ensure that the board has a comprehensive basis for assessment, and that this is reflected in the governance documents for cost follow-up.
[1]. Section 47(1) of the Investment Funds Act.
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