DENMARK - Danish pension fund managers ATP and LD could be allowed to offer banking, mortgage and insurance products under proposals put forward by the government yesterday.
At the opening of Danish Parliament, the government set out plans to amend the ATP and LD Acts in order to harmonise the rules with those of the Financial Business Act, which covers insurance companies.
Both institutions are already able to operate investment management businesses but the proposals could see them broadening their capabilities further. However, ATP said it has no immediate plans to take advantage of the changes should they become law.
ATP legal counsel Mona Frandsen said: "Under the suggested changes to the Acts, it was suggested another harmonisation and equalisation of the rules governing pension funds and insurance companies giving ATP and LD also the right to conduct banking and mortgages.
"ATP does not have any upcoming intention to go into these areas, but it is a possibility, as with the insurance companies, to protect its investments, and to be able to do so on more than just a temporary basis."
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