meta_id 3253410

On June 19, 2026, Denmark's Financial Supervisory Authority (FSA) issued an order to Saxo Bank A/S requiring it to amend its general terms and conditions regarding changes to interest rates, fees, and other remuneration. The FSA investigated Saxo Bank's general terms and conditions and found that they permitted the bank to change interest rates, fees, and other remuneration to the customer's detriment without prior notice in certain circumstances. The FSA determined that these terms breached the Regulation on Good Practice for Financial Undertakings. Under applicable rules, a financial undertaking may only change rates, fees, and other remuneration to the customer's detriment without advance notice if the change results from external circumstances beyond the undertaking's control. The FSA concluded that the circumstances outlined in Saxo Bank's terms and conditions do not constitute external factors beyond the bank's control. Consequently, the FSA ordered Saxo Bank to bring its general terms and conditions for changing interest rates, fees, and other remuneration into compliance with regulatory requirements. The FSA's interpretation of Section 6, Subsection 4 of the relevant regulation is detailed in its advisory opinion of September 26, 2023, on the interpretation of that provision. The FSA noted that this decision concerns consumer matters and is not subject to enhanced confidentiality obligations, making the order publicly available in its entirety. **Reference:** Financial Supervisory Authority (FSA) – Order to Saxo Bank A/S (June 19, 2026)