New capital structure at VP Securities
VP SECURITIES is changing to a new capital structure in preparation for the company’s move from Danish law to international CSD Regulation (CSDR).
VP SECURITIES has received its licence to operate under the European CSDR framework on 3 January 2018, after applying in May 2017.
Under the former Danish Securities law, VP customers had to provide a collective guarantee to safeguard VP’s capital resources. According to the new Danish Capital Markets Act, this guarantee will no longer be a legal requirement. Further, the Board of Directors has taken a decision not to continue with the collective guarantees. VP has today an equity of more than DKK 500 million and sufficiently fulfils the capital requirements under CSDR.
Entering into a European legal framework, with no local requirement for the customers to provide guarantees, it will be easier for VP to attract new customers. The customers who today have provided the guarantees will be informed of the release hereof in the beginning of January 2018.