The DVCA Ethical Guidelines

The purpose of these ethical guidelines is to sustain ethical and professional norms from members of the DVCA. Any violation of the ethical guidelines may lead to exclusion in concurrence with the articles of association on this matter.

 

Basic Principles

The basic principles of the ethical guidelines of the DVCA are that the members of the DVCA will:
– Act with integrity
– Act with fairness
– Keep promises
– Inform of conflict of interest
– Uphold confidentiality
– Avoid damaging the industry

1. The members shall conduct business in a prudent manner

2. Investing members, who are Private Equity funds or other alternative investment funds, shall establish and comply with ESG principles. Other investing members will actively work with ESG principles.

3. All members will comply with legislation alongside other regulations, including other ethical guidelines a member may be subject to.

4. Investing members will work to ensure that their portfolio companies comply with relevant principles within these ethical guidelines, including paragraph 1, 3, 7, 10, 13, 14, 18 and 19.

5. Investing members who receive capital grants from investors, shall comply with rules set to prevent money laundering, just as one shall concern oneself of whether the investors are conducting their business in a legal fashion

6. Investing members shall work to ensure that their management, employees, advisors, portfolio companies etc. are familiar with these ethical guidelines.

7. Members will abstain from contributing to the violation of these guidelines from other members.

Act with fairness

8. Investing members, who are completely or partly comprised by the DVCA Guidelines for Responsible Ownership and Corporate Governance in Private Equity firms, shall comply with the Guidelines alongside working to ensure that their portfolio companies also comply with relevant principles in the DVCA Guidelines

9. Investing members, who are headquartered outside of Denmark, and who are comprised by another the guidelines of another country for responsible ownership and corporate governance, shall comply with said guidelines.

10. If an error or mistake occurs, the member shall seek to correct this error and work to ensure that the mistake is not repeated.
11. Investing members will submit accurate Annual Reports and ongoing updates.

12. Investing members will make all relevant information known before the entering of agreement with investors.

Keep Promises

13. Members will only promise what the member realistically can keep, including non-legally binding promises, just as the members will strive to keep said promises.

14. Investing members aim to ensure that agreements made are not unclear in their regulation of each party’s legal position.

15. An investing member will give potential contractors a realistic view of the investing member’s economic and competence abilities, to make sure that no negotiation is commences on spurious information.

Inform of conflict of interest

16. the members shall evaluate their ability in terms of moral capacity in all relations, including relations with investor seeking companies. The member shall inform of any conflict of interest or possibility thereof alongside deal with both situations in an appropriate manner.

Uphold confidentiality

17. The members will keep secret and omit misusing any confidential information that comes into their knowledge as business provider, investor or borrower or as an advisor to one of these, including but not limited to; during negotiations on a potential deal, also in cases where a confidentiality agreement is not entered.

18. The members will take appropriate action towards securing that confidential information is kept as such.

Avoid damaging the industry

19. The members will neither make decisions that are damaging to the DVCA’s reputation nor to the reputation of the industry and the industry interests that the DVCA represent.

20. Investing members will pass on overall information in investments made, exits, procured capital and so forth, so that the DVCA is able to carry out information material, such as statistics, to its members and for the use of upholding the DVCA’s work as an opinion leader and influencer of public opinion. The DVCA will process the received information confidentially and provided information from the members will only be published in a brief format.

The DVCA Ethical Guidelines were adopted by the DVCA Board of Directors on January 4, 2019