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That excuse won’t wash: the peril of buying shares if you don’t know your stuff

Benedicte Vagner
July 27th, 2022


This article is more than 2 years old.

About three to four people in Denmark are being reported to the police every month by Finanstilsynet for breaking the rules when acquiring stock. Some could even face time in prison

More and more Danes at risk of prison sentence from lack of financial education (photo: Pixabay)

More people in Denmark have been buying shares of late – for many it has been a sensible option given the banks’ negative interest rates on savings of over 100,000 kroner, which most Danish financial institutions have called time on this month.

This growth in amateur share trading– along with the growing popularity of online trading, which does not require a broker – is proving to be a lethal combination, according to the financial authority Finanstilsynet, which reveals it is compelled to discipline 30-40 traders every year for breaking the law, mostly because they do not know the rules, or how strict they are.

Anyone who breaks the rules runs the risk of getting fined, a criminal record or even a prison sentence –even though the value of their share portfolio may be comparatively small

Wary of wash trades
The main offence is ‘wash trades’ – when online traders sell shares to themselves.

According to Finanstilsynet head Jesper Berg, his organisation is compelled to report three to four traders to the police every month.

Berg is warning the public to be more careful and aware of the rules when buying shares. 


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”