Objectives and challenges
The financial sector faces years of demands for increasing and ever more complex regulation in changing market conditions, desired growth and further competition, while at the same time having to continue to address the digital transformation and responsibility for a sustainable future. Objectives and challenges that are ambitious and serious and that must be able to operate in compliance with extensive legislation and stricter requirements, and which the financial sector faces more than other commercial enterprises. We insist on seeing opportunities and solutions in such challenges.
Digital disruption and cybersecurity
Digital development has become a strategic imperative. Many functions and products can be automated and/or work with robots and artificial intelligence. Increasing use of data, especially customer data, continues to create dilemmas and questions of data ethics, data security and compliance. At the same time, the threat of cybercrime in the financial sector is sky-high, and a hacker attack has and may have devastating consequences for the business and its customers.
We help ensure compliance with cybersecurity law such as the data protection regulations and the NIS legislation. Our knowledge of cybersecurity is extensive after many years of assistance with cybersecurity to private businesses and the largest government IT clients, such as the Danish Defence, Rigshospitalet (the national hospital of Denmark) and the Danish Agency for Digital Government. For example, we can make sure that the contractual basis is up to scratch so that the legal bulwark is in place, and we can also handle the legal side of things once the incident has occurred; for example, if you are exposed to ransomware or DDoS.
Is your business on top of the DORA Regulation?
The DORA Regulation imposes strict cybersecurity requirements on the financial sector and makes senior management directly responsible for compliance. The management board and the board of directors must ensure proper ICT risk management, possess relevant knowledge and follow training courses to understand and manage the risks.
Non-compliance may result in misconduct, orders, financial penalties and public disclosure of breach by the management.
We can assist with legal advice, ensure compliance and adapt internal policies and contracts to ensure that your business avoids liability and meets the requirements.
Sustainable solutions in the long term
Corporate social responsibility is being demanded and expected more than ever and at all levels. The financial sector in particular is expected to take on social responsibility in relation to climate challenges and the Sustainable Development Goals (SDGs), and this is a strategic burning platform, also in relation to strengthening the green competitiveness of financial enterprises. Sustainable finance is not just a product, it is a way of doing business.
Climate objectives are also a discipline that is still evolving and requires continuous improvement. For example, methodologies, data and market standards are changing, and in particular, many investment assets around the world (stocks, bonds, funds, etc.) will carry the ESG stamp in the coming years. With a sustainable mindset and durable solutions, you will be at the forefront of development, and this places demands on your contracts and compliance.
We have the necessary expertise and experience to help you understand the complex and volatile ESG agenda. We specialise in ESG and sustainable finance, and we have experience in advising financial enterprises seeking a sustainable transformation, assistance with sustainable financing and prevention of risks. Whether you are brokering green loans or making a bond issuance, we will be there to assist.
