Streenstrup News is a blog by Norwegian law firm Steenstrup Stordrange. It provides insight into topical business and legal issues relevant to Norwegian business life.

Aimed at management and legal professionals internationally, the posts include debates and opinions on legal issues, updates on legal developments, as well as industry and market-specific insights and discussions.

If Steenstrup News becomes your preferred tool for gaining an understanding or keeping abreast of commerce and legal developments in Norway, we will have achieved our goal.

Blog authors are attorneys at law or senior economists and are either partners or associates at the firm. Editor is Partner Klaus Henrik Wiese-Hansen.

Please write to the Editor with your comments, questions or views about any relevant topic. Feel free to share any posts with colleagues and keep up to date through RSS. Tweet your views #Steenstrup or @SteenstrupLaw.

Read more about our firm on our website.

Klaus Henrik Wiese-Hansen

Attorney at Law, Partner

Klaus Henrik Wiese-Hansen Klaus Henrik Wiese-Hansen is a partner at Steenstrup Stordrange’s office in Oslo, and is a member of the M&A and Corporate Practice as well as the Banking and Finance group. He has 14 years' experience in all aspects of financial markets legislation and asset management, including Private Equity, Investment Fund Management, Securities Legislation, Banking and Finance, Insurance, and M&A with respect to these areas. He has advised numerous Norwegian and foreign institutional clients in all aspects of their businesses relating to the aforementioned legal areas.

All posts by Klaus Henrik Wiese-Hansen

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The Norwegian AIFM Act comes into force 1 July 2014 – No transitional rules for marketing of closed-ended funds

The Ministry of Finance confirmed everybody’s expectation yesterday when it announced that the Norwegian AIFM Act and the AIFM Regulation (implementing AIFMD and Commission Delegated Regulations supplementing AIFMD) comes into force 1 July 2014. As of and after 1 July 2014 the management and marketing of Alternative Investment Funds (“AIFs”) will thus be subject to the AIFM Act and the AIFM Regulations.

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The International Legal Guide to Alternative Investment Funds 2014 Edition

What legislation governs the establishment and operation of Alternative Investment Funds?

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Hot news: Norwegian implementation of AIFMD approaching – Managers may begin applying for authorisations

The proposed AIFM Act passed the first reading in the Norwegian Parliament 3 June, and is scheduled for a second and final reading in the Parliament shortly. The Ministry of Finance stated yesterday that the Act will almost certainly come into force 1 July 2014.

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FSAN charges new prospectus fees from 1 July

Effective from 1 July 2014, the Financial Supervisory Authority of Norway (FSAN) will increase the fees for approval of prospectuses with 20 percent. The increase will apply to all types of prospectuses and also encompass the additional fee for so called specialist issuers.

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Rules on gender-neutral pricing suggested in Norwegian insurance law

On 9 May 2014, the Ministry of Finance proposed a bill requiring gender-neutral pricing in insurance contracts which are private, voluntary and separate from employment relationship.

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Credit rating agencies – Proposal for Norwegian legislation

On 9 May 2014, the Ministry of Finance proposed new legislation regarding credit rating agencies. The background for the proposal is Regulation No 1060/2009 (CRA I) of the European Parliament, which has been incorporated into the EEA Agreement.

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AIFMD: Marketing of AIFs in Norway post implementation 1 July 2014

A Bill to implement the AIFMD in Norway (the “AIFM Act”) was suggested in Mid-April, and will likely come in force 1 July 2014.

This newsletter gives a brief summary of the proposed AIFM Act, with a particular view on non-Norwegian Alternative Investment Fund Managers’ (“AIFMs”) possibility to market Alternative Investment Funds (“AIFs”) in Norway.

Norway is a member of the European Economic Area (“EEA”), which currently comprises Norway, Iceland and Liechtenstein and 27 Member States of the European Union excluding Croatia.

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AIFMD: Implementation into Norwegian law

On 11 April 2014, Ministry of Finance proposed a Bill implementing the Alternative Investment Fund Managers Directive (AIFMD) into Norwegian law. The proposed Bill is expected to be considered by the Norwegian Parliament before summer. Thus final implementation of the AIFMD will probably take place on or around 1 July 2014.