• DEN FSA received a number of inquiries regarding translation of definition of financial advisers in Article 2, no. 11, letter d, of regulation, citing a poor Danish translation.
• Follows DEN FSA December 2021 issued Disclosure compliance study.

Summary

• DEN FSA seeks to draw attention to the fact that in the Danish translation of disclosure regulation, there is a translation error that they regard as of significant importance.
• This is in the translation of the definition of financial advisers within article 2 (11) (d).
• In the English version of the sustainable finance disclosure regulation (SFDR), within article 2 (11) (d) it has in the Danish translation of the disclosure regulation been incorrectly translated to read as insurance companies that provide investment advice.
• DEN FSA's assessment of the correct translation of article 2, no. 11, letter d is in fact investment companies that provide investment advice, and does not mean insurers.