All posts in Capital Markets

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Increasing the transparency in the Norwegian bond market

The Ministry of Finance has requested the Norwegian FSA (FSAN) to draft legislation that may allow issuers of bonds to require information about the identity of the bondholders, including bondholders who hold their bonds through nominee accounts. This may increase the transparency in the Norwegian bond market.

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Annual report from the Norwegian regulator

The Financial Supervisory Authority of Norway (the “FSAN”) has published its Annual Report for 2014. The full report is to date only available in Norwegian. In the following we present a brief summary of the most important events and developments from 2014 within banking and finance, insurance and pensions, and the securities area.

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It took 20 years… but the Norwegian mass market is finally open to European hedge fund managers

Investment funds for sale to the general public – in other words, open-ended collective Investment structures of which shares may be redeemed on a regular basis and of which investment objectives are Financial instruments – have traditionally been strictly regulated in Norway.

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Takeovers of Norwegian listed companies

The Norwegian takeover rules correspond to a large extent to the rules within the EU. Notwithstanding this, there is some local variation within the EU and EEA. Further, there are always some cultural differences as well as differences in market practice. Below is an outline of certain key topics in a typical process of acquiring a company listed on the Oslo Stock Exchange.

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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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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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Business acquisitions in Norway

Norway has for some time fairly consistently attracted foreign investments. Below we provide a brief overview of Norway and Norwegian industry as investment targets, including some process and negotiation issues.

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Proposal for framework legislation regarding interest rate benchmarks

On 31 March 2014, the Financial Supervisory Authority of Norway published a consultation paper setting forth proposed regulations for the determination of interest rate benchmarks. This article provides a short summary of the consultation paper.