Our board of directors, management and employees are all required to comply with our code of conduct and ethical behaviour.
Vaekstfonden's employees are in contact with many small and medium sized businesses. We take on this role on behalf of the Danish state, and therefore there may be no doubt about our independence and judgement. We have clear rules regarding how we counteract corruption.
Neither the board of directors, management or employees may accept gifts of substantial value from companies or collaboration partners directly or indirectly related to Vaekstfonden. The maximum value is currently set at DKK 400.
Additionally, Vaekstfonden's employees may not accept payment of any kind, for example a loan (with the option of normal, private bank loans), or accept other financial or non-financial services from Vaekstfonden's business associates without the prior consent and written agreement of the direct manager. This includes professional and social events that are paid for by outsiders.
The board of directors, management and all employees are required to be vigilant regarding events and circumstances that may call their impartiality into question. Should an employee be impartial in a particular case or be in doubt about such, they are required to inform Vaekstfonden.
Upon employment at Vaekstfonden, an employee may not own shares or make loans to an unlisted company that Vaekstfonden co-finances. Additionally, employees may not manage such companies unless it is at the behest of Vaekstfonden. The board of directors may, in certain circumstances, provide written dispensation from that rule, though only on the condition of full disclosure of the particular relationship.
Vaekstfonden keeps a list of listed companies about which the board of directors, management and employees may have acquired confidential, trade sensitive information through their work. Additionally, employees may not trade in shares, bonds or other securities issued by these companies unless through special dispensation. This includes securities that are directly related to the company's share (derivatives) value. Furthermore, upon employment, an employee may not own shares or make loans to an unlisted company co-financed by Vaekstfonden. To ensure compliance, employees may not invest or make loans, or otherwise have a financial interest in Danish companies through a crowd funding platform.
Processing of confidential information and data
Vaekstfonden's employees have access to confidential information about companies and private individuals. To avoid misuse and unintentional sharing, employees with access to confidential information are required only to collect, process and keep personal information that is relevant to a given co-financing case. Employees must receive consent from any individual whose confidential information will be processed and possibly shared by Vaekstfonden. Companies whose information is used by Vaekstfonden on the website or in presentations, must also provide consent.