meta_id 3301695

On July 6, 2026, Denmark's Financial Supervisory Authority (FSA) published an inspection report on Ringkjøbing Landbobank A/S following a functional inspection conducted in March 2026. The inspection examined the bank's product governance and suitability assessment procedures for customers, as part of a thematic inspection covering four financial institutions. The FSA identified significant deficiencies in the bank's approach to suitability assessments for complex products offered to retail investors through non-advised trading. Product governance requirements mandate that financial institutions establish arrangements ensuring that products offered align with the target market's needs and characteristics. Suitability assessment requirements require institutions to obtain information about customers' knowledge and experience before selling complex products without advice, then assess whether the product is suitable for the customer and provide appropriate warnings if it is not. The inspection revealed that Ringkjøbing Landbobank's procedures for conducting suitability assessments were insufficient to establish customers' actual knowledge and experience regarding a product's characteristics and risks. Additionally, the bank failed to provide adequate warnings when it determined a product was unsuitable for a customer. The bank's internal controls were also inadequately comprehensive. These deficiencies create a risk that customers may access products inappropriate for their circumstances. The FSA has directed the bank to ensure suitability assessments genuinely establish whether customers possess the necessary knowledge and experience for specific products' characteristics and risks, and to provide sufficient warnings when products are unsuitable. These requirements derive from the Investor Protection Regulation (BEK no. 760 of June 14, 2024) Section 12 and Commission Delegated Regulation (EU) 2017/565 Article 55.