All posts in Financial Market Regulations
With effect from 9 December, Oslo Børs calculates NIBOR rates for Finance Norway.
On 14 October, the Ministry of Finance excluded five more companies from the Government Pension Fund Global’s investment universe. The Ministry further requested Norges Bank to follow up another three companies in the active ownership activities.
On 16 October, Norges Bank Investment Management (NBIM) published a discussion note on high frequency trading. According to NBIM, the purpose is to shed light on this wide-ranging topic from an asset manager’s perspective. The discussion note can be read by clicking here.
Norwegian politics take a turn to the right with new rightwing coalition government – new possibilities for many market players
On October 16, Norway’s Conservative Party leader Erna Solberg and Progress Party leader Siv Jensen presented a new minority goverment after winning the September 9 election with support from allies in the Parliament. The government took office on 12 noon October 16, with Solberg as Prime Minister and Jensen as new Minister of Finance. The coalition has presented a 75-page platform revealing how it plans to rule Norway over the next four years. Some highlights of particular interest for foreign market players are presented below.
On 14 October 2013, the Norwegian government proposed new legislation to implement FATCA in Norway. Provided compliance with the proposed legislation, Norwegian financial institutions will be considered to comply with FATCA.
On 27 September, the Ministry of Finance suggested to establish a Norwegian public debt register. The purpose is to prevent debt problems among indivudual borrowers in Norway.
The Ministry of Finance introduces a new collective retirement pension product for the private sector
On 4 October, the Ministry of Finance presented a draft Bill with a new collective tax favourable retirement pension product for the private sector. The new product will be a third alternative to the two other (main) types of tax favourable occupational pension schemes that can be established under Norwegian law.
At its meeting 9 October, the Oslo Stock Exchange Appeals Committee confirmed the Board of Oslo Børs´fine against IGE Resources AB, imposed on 29 August.