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English abstract: This thesis seeks to clarify the extent of listed companies' disclosure obligation under MAR article 17(1), cf. article 7(1)(a), including the extent to which listed companies are required to investigate when inside information exists. Therefore, the thesis will first analyse the conditions for when inside information exists, cf. MAR article 7(1)(a). Subsequently, it will be clarified when a company can be considered to have published the inside information as soon as possible, as well as the extent of the company's obligation to examine inside information prior to its classification. On the basis of the analysis of practice from the entry into force of the MAD until now, the investigation has shown that the shift forward of the time of reality and thus also the date of publication, to now include both circumstances or events that exist or which can reasonably be expected to come into existence or occur, has made it difficult for the companies to assess when inside information is present, including from what point in time the inside information must be disclosed as soon as possible after. The shift forward of the time of publication has also led to an inappropriate legal status, as companies in certain cases are forced to publish matters of a preliminary and uncertain nature, and thus the changed legal status does not necessarily contribute positively to always creating a correct momentary picture of the company's current situation. For that reason, the European Commission has put forward the proposal for the Listing Act-package. The requirement for the company to publish inside information as soon as possible establishes a requirement that the company, as soon as a matter is classified as inside information, must disclose it, unless there is a need for a reasonable time to clarify the situation, especially in connection with the uncertain inside information. In addition, it is also a requirement that the company must seek to clarify as soon as pos

English abstract: This master thesis examines democratic companies within the context of their challenges and the proposed Danish legislation aimed at improving conditions for such entities. Democratic companies hold a unique position of respect and recognition in Denmark, largely due to their significant contribution to the Danish co-operative movement. In present, these companies continue to play a vital role in Danish society but have also encountered several challenges, which the proposed legislation seeks to address. The thesis explores the understanding of democratic companies and their historical background in Denmark. Although the term does not refer to a specific corporate form, the thesis reveals that a democratic company is typically established as a cooperative or an association with limited liability. This is largely because the legislation governing these corporate forms aligns well with the core cooperative principles characteristic of democratic companies. The focus on these two corporate forms in the proposed legislation supports this view. A legal historical examination of legislative attempts concerning cooperatives is conducted, highlighting the profound respect for the autonomy and self-regulation of democratic companies in Denmark. The proposed legislation introduces key changes for democratic companies. A notable provision allows the inclusion of investing participants, a particularly revolutionary concept for a cooperative with limited liability. It is assessed that this provision will improve financing options for democratic companies, although most notably for a cooperative with limited liability. Furthermore, the proposed legislation suggests expanding the conversion options and introducing asset protection for democratic companies. These regulatory changes are considered a step in the right direction towards better conditions for such companies. However, a proposal for simpler rules regarding employee ownership is deemed poorly worded, la

Artiklen behandler oplysningspligten i tilfælde, hvor den interne viden er usikker.

Artiklen behandler kritikken af tilsynsrådet og foreslår emner for reform af Selskabsloven.

Artikel om principperne bag forbuddet mod insiderhandel.

En lovkommentar til FMSL

Forbuddet i SL § 1, stk. 3, mod, at ApS retter henvendelse til offentligheden er uforenelig med Crowdfundingforordningen.

The paper addresses the misconceptions surrounding MVR shares and the challenges from EU legislation and proxy advisors' policies that they entail and offers solutions to mitigate this problem., Shares with multiple voting rights have been known in Nordic company law for generations and are considered harmless and frequently useful. Nordic company law leaves considerable flexibility to companies and their investors on how to design the capital structure of the company, including the use of MVR shares, while ensuring a high level of minority protection. However, there are many misconceptions surrounding MVR shares in other jurisdictions, probably due to a lack of familiarity. This used to be a problem only for foreigners but now the Nordic jurisdictions are at risk of having these misconceptions forced upon them, partly by EU harmonisation, partly by foreign proxy advisors. It is necessary for those, whose responsibility it is to protect and safeguard the present well-functioning Nordic system to prevent this, i.e. both public authorities and the national CG committees, and a few solutions are presented to that end.

Lovkommentar til Kapitalmarkedsloven.

Indføring i de to discipliner, anvendes som lærebog og opslagsværk.

Bidrag til international lovkommentar til Markedsmisbrugsforordningen.

Forståelsen og anerkendelsen af de konkrete eller generelle dilemmaer må anses for en af de grundlæggende byggesten i juraen – både som retsanvendelse og som retsvidenskab. For juristen er det ikke nok, at der kan findes solid støtte til en bestemt opfattelse. Det er mindst lige så vigtig at prøve at forstå de argumenter, der begrunder mod-partens opfattelse, og frem for alt at finde ud af, om der bag uenigheden gemmer sig mere grundlæggende dilemmaer, samt hvordan disse er adresseret i lovgivningen. Dette gælder ikke alene de mere traditionelle juridiske områder, men gælder også de nyere retsområder som miljøbeskyttelse, naturbeskyttelse og grøn omstilling, hvor der er opstået nye retlige dilemmaer. Dette illustreres bl.a. af nye sager, hvor hensyn til bestemte trækfugle, flagermus og stor vandsalamander og deres levesteder er kommet mere eller mindre i vejen for vigtige vindmølleprojekter, fordi vindmøllerne kan skade disse arter og deres levesteder. Men hvad skal man så vælge, når valget står mellem fremdrift for den grønne omstilling og beskyttelse af levesteder for beskyttede arter, og hvad siger retsordenen om denne konflikt mellem grøn omstilling og beskyttelse natur. Dette er emnet for dette bidrag til Lind Nielsens festskrift.

En kritik af EU-børsrettens tilbudspligt

Redegørelse for Højesterets afgørelse i Capinordic samt nedsættelsen af Ansvarsudvalget.

Kommentar om Kommissionens initiativ om såkaldt bæredygtig selskabsledelse, der er blevet kritiseret for ikke at opfylde mindstemålet til sagligt grundlag, som krævet efter nærhedsprincippet. Initiativet blev senere underkendt af Kommissionens egen kontrolinstans og er nu under genovervejelse.

En oversigt over aktionærers, herunder moderselskabers ansvar og hæftelse efter dansk ret.