Corporate gorvernance, reporting and audit
Control, reporting and analysis
We reuse personal data about you to ensure proper management of our business operations and to keep track of all the data we have. Information about you and your customer relationship is included in the data we process when we control, analyze and report figures for the Group.
Information that is reused includes your customer number and associated contractual relationships. To ensure that we have complete and correct data registered in our systems, we will process personal data when we control, and quality assure data.
Personal data is anonymized and summarized for analysis purposes, for example to assess the profitability of the products we offer, or other analyses we need to ensure proper management of our business operations. In order to full fill our legal requirements towards authorities we must include, among other things, all payments made through our systems, including all customer transactions.
We report status of our customers’ accounts to Danish and international authorities for tax purposes. We are required to report information about name, business id address and other data requested by the authorities.
The purpose of the processing of personal data is to ensure control of our business operations and to carry out necessary analyses and mandatory financial reporting. We have a legal obligation to process your personal data for tax purposes. We have a legitimate interest in controlling and quality assuring the personal data that we have stored in our systems.
After the analyses are complete, they will no longer contain identifiable personal information.
When we collect and process information about you, you have several rights under data protection rules and legislation. This includes the right of access, the right to data portability, the right to rectification of any errors and the right of erasure, which means that we must, on our own initiative, delete information that is no longer necessary for the purpose of the processing.
We will always consider any objections you may have to the processing of your personal data, and we will follow up when you opt out of direct marketing. Read about how you can exercise your data protection rights in our privacy notice under ‘Your rights’.
DNB Denmark is responsible for the processing of your personal data.
- identification data
- tax residence
- financial data
We are obliged to disclose personal data to Danish and international tax authorities, such as the Financial Supervisory Authority (The Danish FSA).
Tax reporting
Every year, we report the status of all clients' accounts in DNB to Danish and international authorities for tax purposes. We are required to report details of business id, name, address and financial data. As a result of international agreements on the automatic exchange of tax information, we must also collect and report information about which countries you as a customer have tax affiliation to. We disclose the information to the Danish tax authorities, who pass this on to the tax authorities in the respective countries where the account holder or beneficial owner is resident for tax purposes.
The purpose of processing personal data is to combat tax avoidance or evasion of international tax crime.
We are required by law pursuant to the Securities Regulations to report the status of all clients' fund accounts or fund holdings to Danish tax authorities. We are required by law under the FATCA and CRS regulations to identify and annually report the balance/value of our customers who have tax residency in a country other than the one in which the account is held.
We store personal data for 13 years. For international tax reporting, we store information for 5 years after the end of the year in which the customer relationship was reported to the tax authorities or new documentation has been obtained.
When we collect and process information about you, you have several rights under data protection rules and legislation. This includes the right of access, the right to data portability, the right to rectification of any errors and the right of erasure, which means that we must, on our own initiative, delete information that is no longer necessary for the purpose of the processing.
We will always consider any objections you may have to the processing of your personal data, and we will follow up when you opt out of direct marketing. Read about how you can exercise your data protection rights in our privacy notice under ‘Your rights’
DNB Denmark is responsible for the processing of your personal data.
- identification data
- contact details
- financial data
We are obliged to disclose personal data to Danish and international tax authorities.