Regulation supports efficient information
VP has the approval to phase out most of the ordinary postal mail. The change in regulations will lead to greater efficiency and reduced cost for our customers.
The Danish Financial Supervisory Authority (FSA) has approved an amendment to VP SECURITIES (VP) Regulations C providing the potential for significant savings for our customers when the individual investors have to be informed about changes to their accounts.
Previously, according to the VP regulation, VP was in many cases required to inform securities holders through traditional mail. VP has obtained the FSA's approval on an amendment of the regulation that saves both time and money for the customers by exchanging mail with electronic information.
"The amendment will remove an economic burden, and this is yet another example of our commitment to deliver value to our customers,” says Anne Kaas Hammer, Head of Legal & Regulations at VP.
VP obtained the FSA's acceptance to the amendment in December 2016. In short, the amendment empowers VP to inform electronically after 3 months’ notice, and even decide not to inform at all under certain circumstances – primarily in cases where the individual investors have already received the information through other channels.
VP explores various solutions for electronically notifying investors, and will communicate to our customers in due time before implementation.
See the full version of VP’s Regulations A to D here.
If you would like to hear more, please do not hesitate to contact us.