Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Insurance Core Principles

March 23, 2007

Preview Citation

Format: Chicago

Denmark: Financial Sector Assessment Program: Detailed Assessment of Observance of the Insurance Core Principles, (USA: International Monetary Fund, 2007) accessed December 21, 2024

Summary

This paper discusses key findings of the Detailed Assessment of the Observance of the Insurance Core Principles for Denmark. Key recommendations arising from the assessment cover two main issues. First is the fact that the Danish Financial Supervisory Authority Finanstilsynet bases its system to assess the appropriateness of key functions on the assumption that it is the core responsibility of the senior management to ensure adequate personnel to be assigned to relevant tasks in the supervised companies. The second issue relates to a requirement that internal audit functions should be made compulsory for smaller companies.

Subject: Crime, Expenditure, Financial institutions, Insurance, Insurance companies, Labor, Money laundering, Pension spending, Pensions

Keywords: Board of directors, Company pension funds, CR, Europe, Holding company, Insurance, Insurance companies, Interest rate, ISCR, Money laundering, Pension funds, Pension spending, Pensions, Return on equity, Risk assessment, Supervisory authority

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/119
Stock No:

1DNKEA2007004
ISBN:

9781451811162
ISSN:

1934-7685

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