meta_id 3019579

On March 30, 2026, the Danish Financial Supervisory Authority (Finanstilsynet) published an inspection report following a routine inspection of Norm Invest Fondsmæglerselskab A/S conducted in December 2025. The inspection covered the company's business model, organisation, capital adequacy, portfolio management, risk management, compliance, and conflicts of interest. Norm Invest operates an online investment platform offering automated investment services, including discretionary portfolio management and investment advisory services based on an underlying static investment model. The authority identified significant governance and compliance deficiencies. The company does not systematically or regularly report identified and relevant risks to its board of directors. Additionally, portfolio performance reporting by risk profile does not enable the board to properly evaluate performance and costs associated with individual portfolio management solutions. The authority issued a directive requiring the company to ensure comprehensive reporting to the board that enables it to monitor and evaluate relevant risks and the business model. The authority also found that the compliance function is inadequately resourced, as the compliance officer holds other substantial roles within the company. This prevents the compliance function from conducting sufficient and continuous monitoring of relevant compliance risks and from exercising adequate control over identified risk areas. Consequently, Finanstilsynet issued a directive requiring the company to strengthen its compliance function. REFERENCES: Finanstilsynet. Redegørelse om ordinær inspektion af Norm Invest Fondsmæglerselskab A/S. Available at: https://www.finanstilsynet.dk