All posts in Financial Market Regulations

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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.

AIFMD in Norway

Market Update AIFMD: Marketing of Alternative Investment Funds (AIFs) in Norway

Five months have passed since the AIFMD was implemented in Norway. Since 1 July 2014, a relatively large number of applications have been filed with the Financial Supervisory Authority of Norway (the “FSAN”), concerning both marketing in Norway of non-EEA AIFs of EEA AIFMs and AIFs of non-EEA AIFMs.

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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.

AIFMD

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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A glance at the “Norwegian” HY market is and why it’s such an efficient platform for raising flexible debt for foreign companies

Since early 2000, the Norwegian corporate bond market has been transformed from a small market dominated by domestic utility enterprises into a global market characterized by large issue volumes of high yield corporate bonds. This makes Oslo Stock Exchange and Nordic Alternative Bond Market the third largest market place for HY corporate bonds in the world.

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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.

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Violation of the rules on notifiable trades – Chairman of the Board of Directors of Oslo Børs resigns

The Chairman of the Board of  Directors of Oslo Børs VPS Holding ASA and Oslo Børs ASA , Leif Askvig, resigned 27 January with immediate effect from his positions as Chairman in the said entities, due to violation of the rules on notifiable trades.