Overview
Finanstilsynet (DK) is Denmark's financial supervisory authority, supervising banks, mortgage credit institutions, pension and insurance companies, investment funds, fund managers and investment firms, and funded by levies on the firms it supervises rather than from the state budget. It works to an explicitly risk-based method, concentrating on the areas where the probability of failure and the severity of the consequences are greatest. In 2025 it initiated 121 inspections, completed 155, and issued 569 supervisory reactions, mostly orders — while closing 14,697 cases in total and completing 98.5% of cases carrying a statutory deadline on time. Everything below is Finanstilsynet's own data, from its Årsrapport 2025 and its report on supervisory activities in 2025.
Leadership
3Nina Dietz LegindChair of the Board
Louise MogensenDirector Generalsince 2023
Rigmor AnsdalDeputy Director General — payments, financial technology, financial crime and AML, capital markets regulation, legal affairssince 2025
Full board
Organisation (FY2025)
Staff421 FTEÅrsværk. Årsrapport 2025 p. 6. Standalone authority — whole of Finanstilsynet, no central-bank contamination
Annual appropriationDKK 551.2m (~€73.7m)Årsrapport 2025 p. 16. Basis: 2025 appropriation, set in the Finance Act under §08.23.01 and recovered through levies on supervised firms, invoiced each December. Not levy revenue actually collected and not outturn expenditure
Supervised entities (end-2025)
Entities licensed under covered frameworks≈2,450Approximate. Built from sector components, each itself approximate: ~2,200 insurance intermediaries and agents · ~107 investment firms and advisers · ~83 insurers and pension funds · 57 banks · 6 mortgage credit institutions. Replace with exact counts from Årsrapport 2025 when available
Estimate Held out — AIF funds and managers~730 (combined)Reported as a combined figure for funds and managers; the split can't be extracted, so the number is held rather than guessed
Estimate Held out — AML register~360Lending businesses and non-financial entities registered for money-laundering supervision only. Mixed population; non-financial part outside covered frameworks
Estimate Supervisory activity 2025
Inspections initiated121vs 183 in 2024. Fewer than normal were planned because of Denmark's EU Council presidency in H2 2025; activity is expected to rise again in 2026
Inspections completed155vs 210 in 2024
Inspections within the 8-month target88%vs 75% in 2024
Supervisory reactions569vs 721 in 2024. Primarily orders (påbud)
Cases closed with a statutory deadline5,463vs 4,663 in 2024
Cases closed in total14,697vs 12,932 in 2024
Statutory-deadline case timeliness98.5%vs 98.6% in 2024
Financial reporting control 2025
Listed companies in scope183 at end-202579 financial undertakings, investment associations, securities funds and capital associations covered by Finanstilsynet's rules; 104 covered by the Danish Financial Statements Act
Reviews conducted11% of listed companies selected17 cases closed with no errors or breaches; errors found in 7 annual reports and 1 interim report; 14 cases carried into 2026
Notable 2025
EU Council presidency (H2 2025)Reduced planned inspections while increasing legislative and negotiating work; inspection volumes expected to recover in 2026.
Case throughput upDespite the lower inspection count, case throughput rose: 14,697 closed vs 12,932; share of inspections completed inside the 8-month target improved from 75% to 88%.
Perimeter breadthThe inspection programme spans traditional prudential supervision alongside cross-cutting risk areas: IT, fintech, money laundering, sustainability, and consumer and investor protection.
Financial reporting control — joint modelRun jointly with the Danish Business Authority, which covers issuers outside Finanstilsynet's rules.
Levy funding modelEntirely levy-funded: supervised firms are invoiced in December for having been under supervision during the year, and a firm supervised for only part of the year still pays the full levy.
Levy basis changeChanged from 1 January 2025 for firms charged under §§360–361 of the Financial Business Act.
EBA Management BoardDirector General Louise Mogensen was elected to the EBA's Management Board in January 2025.
Key legislation
4Lov om finansiel virksomhed (Financial Business Act)Foundational — banking, insurance, investment services
Lov om betalinger (Payments Act)PSD2 / EMD transposition
Lov om kapitalmarkederCapital markets, MiFID II framework
Hvidvaskloven (AML Act)AML/CFT supervision
Registers, portals and publications