April 26, 2018 / 7:58 AM / in a year

Danske Bank fails to comply with investor protection rules - Danish FSA

COPENHAGEN, April 26 (Reuters) - Danske Bank has failed to comply with Danish rules on investor protection in its digital investment tool ‘June’, the Financial Services Authority said on Thursday.

* The bank had not sufficiently obtained reliable information about the customers’ investment horizons and investment knowledge to assess whether the financial instruments recommended was suitable for each customer, the FSA said

* The FSA emphasizes that the rules applicable to advisory services are also adhered to when consulting on a digital platform

* Danske Bank has explained to the FSA that the shortcomings have been corrected, the FSA said (Reporting by Teis Jensen)

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