Regulatory Alerts2025-11-27
Order No. 329 of 7 April 2016 on Competence Requirements for Mortgage Lenders and Mortgage Intermediaries
The Danish Ministry of Industry, Business and Financial Affairs, together with the Danish Financial Supervisory Authority, issues this Order to establish mandatory competence requirements for mortgage lenders and mortgage intermediaries providing advice or services to consumers. It mandates that all relevant employees must possess specific knowledge in product details, consumer protection law, real estate valuation, and financial assessment, alongside practical skills to analyze consumer needs and calculate financial consequences. Companies must implement systematic training procedures, prohibit reliance solely on two years of prior employment for competence validation after March 2019, and ensure tied intermediaries meet identical standards, with the regulation taking effect on 1 January 2026.