Bls Capital Fondsmaeglerselskab A/S

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FINANSTILSYNET (DANISH FSA)
2.
Principal Sanction:
Other
Other Sanctions: 
ORDER
3.
Date Initiated (MM/DD/YYYY): 
06/02/2021
 Exact
 Explanation
If not exact, provide explanation:
IN THE 4TH QUARTER OF 2020, THE DANISH FSA CONDUCTED AN AUDIT OF BLS CAPITAL'S RISK ASSESSMENT PER THE REQUIREMENTS OF THE MONEY
LAUNDERING ACT AS PART OF A COUNTRY-WIDE AUDIT ON A NUMBER OF FIRMS. ON APRIL 26, 2021, THE DANISH FSA ISSUED AN ORDER REQUIRING
BLS CAPITAL TO REVISE ITS RISK ASSESSMENT SO THAT IT SEPARATELY IDENTIFIES AND ASSESSES THE RISKS OF THE COMPANY BEING USED FOR
MONEY LAUNDERING AND TERRORIST FINANCING. THE ORDER BECAME EFFECTIVE ONCE POSTED TO THE DANISH FSA WEBSITE ON JUNE 2, 2021.
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
No Product
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE DANISH FSA ASSESSES THAT THE COMPANY MUST SEPARATELY ASSESS THE COMPANY'S RISK OF BEING USED FOR MONEY LAUNDERING AND THE
COMPANY'S RISK OF BEING USED TO FINANCE TERRORISM RATHER THAN MAKING AN OVERALL ASSESSMENT OF THE RISKS AND A DIVIDED
CONCLUSION.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Consent
11. Resolution Date (MM/DD/YYYY):
04/26/2021
 Exact
 Explanation
If not exact, provide explanation:
THE COMPANY MUST SUBMIT A STATEMENT AND DOCUMENTATION WITHIN THREE MONTHS OF RECEIPT OF THE DANISH FSA'S LETTER DESCRIBING
HOW THE COMPANY HAS COMPLIED WITH THE ORDERS MENTIONED IN THIS LETTER.
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
THERE WERE NO SANCTIONS ORDERED.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THERE WERE NO SANCTIONS ORDERED.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
THE AUDIT OF BLS CAPITAL FONDSMAEGLERSELSKAB A/S IN THE 4TH QUARTER OF 2020 WAS A TARGETED INSPECTION ON THE MONEY LAUNDERING
ACT REQUIREMENTS, WHICH WAS CARRIED OUT BY THE DANISH FSA ON A NUMBER OF REGULATED ENTITIES. THE DANISH FSA FOUND THAT PER THE
MONEY LAUNDERING ACT, BLS CAPITAL DID NOT MAKE A SEPARATE ASSESSMENT OF THE INDIVIDUAL RISK FACTORS ASSOCIATED WITH BEING USED
FOR MONEY LAUNDERING AND TERRORIST FINANCING, BUT RATHER COMBINED THE ASSESSMENT. FOLLOWING THE AUDIT THE DANISH FSA ISSUED AN
ORDER WHICH REQUIRES THE ASSESSMENT TO SEPARATELY IDENTIFY AND ASSESS THE RISKS OF THE COMPANY BEING USED FOR MONEY LAUNDERING
AND TERRORIST FINANCING. THERE WERE NO CHANGES IN THE CONTEXT OF THE RISK ASSESSMENT. BLS CAPITAL MUST SUBMIT A STATEMENT AND
DOCUMENTATION WITHIN THREE MONTHS OF RECEIPT OF THE DANISH FSA'S LETTER DESCRIBING HOW THE COMPANY HAS COMPLIED WITH THE
ORDERS MENTIONED IN THIS LETTER. THE DANISH FSA ALSO PREPARED A STATEMENT WHICH BLS CAPITAL MUST PUBLISH ON ITS WEBSITE.