Log of simplification measures
The regulatory framework within Finanstilsynet’s remit safeguards important public interests but has become extensive and complex. A more proportionate regulatory framework can increase the societal benefits of regulation and contribute to more competitive operating conditions for the Norwegian and European financial industries, as well as more efficient use of resources.
Finanstilsynet contributes to the simplification efforts coordinated by the European supervisory authorities and places particular emphasis on simplification, equal treatment and proportionality when regulations are transposed into Norwegian law and subsequently implemented. Correspondingly, national regulations and our own supervisory practices will be reviewed. As part of this work, Finanstilsynet engages in dialogue with the industry regarding possible measures and how these can be implemented.
About the simplification log
This simplification log provides an overview of the measures initiated by Finanstilsynet to reduce administrative burdens and facilitate more efficient use of resources among institutions. Although the impact of individual measures may be limited or difficult to assess, the overview is expected to be a useful tool during the simplification process. The log is not exhaustive and will be updated on an ongoing basis as new measures are implemented.
2026
Automated registration – reporting
Finanstilsynet has established a system for automated registration. The solution reduces the need for manual reporting. It can be used in cases where multiple submissions would otherwise have to be made individually via Altinn and contributes to a more coordinated and efficient implementation of such processes.
As an example, the solution was used in connection with the transfer of around 300 loan agents from DNB’s banking licence to DNB Finans’ licence as a finance company. Without this solution, DNB Bank would have had to submit a notification of termination via Altinn for each agent, and each agent would then have to re-register with DNB Finans using separate Altinn forms. In addition, DNB Finans would have had to re-verify each agent via Altinn.
The automated process has eliminated the need for hundreds of manual submissions and significantly reduced the use of Altinn. This has saved both the industry and Finanstilsynet a significant number of working hours and contributed to more streamlined, faster and less resource-intensive processing.
Simplified reporting requirements for listed companies
- According to section 19-1(2) of the Securities Trading Act, Finanstilsynet oversees the financial reporting of listed companies. As part of supervisory activity, issuers report to Finanstilsynet on an annual basis. Such reporting forms the basis for the risk-based selection of entities to be inspected. The entity shall answer questions relating to its operations and financial reporting.
- Previously, all listed issuers on Oslo Børs were required to submit such reports to Finanstilsynet. The reporting requirement no longer applies where the nominal value of their bonds is at least EUR 100,000. The companies remain subject to supervision by Finanstilsynet, although a risk-based approach means that there is no need for them to submit reports. One reason for this is that few non-professional investors invest in this type of bond.
- For those who still submit annual reports to Finanstilsynet, the number of questions to be answered has been reduced.
- Guidance for reporting
Improved data-sharing arrangements to combat financial crime
- In cooperation with several private enterprises, Finanstilsynet and the Norwegian Data Protection Authority have completed four projects in the regulatory sandbox, aiming to strengthen the fight against financial crime by exploring possibilities for data sharing within current regulations and assessing any needs for regulatory development.
- The projects helped develop a better understanding of the scope for discretion within the current regulatory framework. This is relevant for both the industry and the authorities.
The final reports from the sandbox project were presented at a seminar on 6 February 2026 and have been published on Finanstilsynet’s website.
- Final reports from the sandbox project (in Norwegian only)
Discontinued reporting of key figures for finance companies
- The reporting requirement applied to 48 companies, and their latest reporting presented key figures as at 31 December 2025.
2025
Proposed regulatory amendments concerning confidentiality and information sharing
- In autumn 2025, the Ministry of Finance circulated for comment a proposal drawn up by Finanstilsynet on amendments to the Financial Institutions Act and Regulations concerning confidentiality and information sharing. For financial institutions, the proposal will pave the way for a more effective fight against financial crime. The proposal was based on the work on data sharing carried out in the regulatory sandbox to prevent and detect financial crime.
Replaced real estate agencies’ application requirement with a notification requirement
- The application requirement has been replaced with a notification requirement when professional responsibility is shared within the same real estate agency.
Discontinued reporting by state authorised accountants
- Finanstilsynet has regularly requested comprehensive documentation from all external accountants. Around 12,000 accountants have been subject to this reporting obligation. Finanstilsynet has decided that the collection of this type of documentation from all accountants is to be replaced by risk-based supervisory follow-up.
Discontinued double reporting of market risk
- Finanstilsynet has discontinued the KRT-1225 market risk reporting, as this information is already collected through other reporting channels (including COREP and the overall risk assessment / ICAAP). Double reporting is thus avoided.
Discontinued reporting of leverage ratios for investment firms
- Nine firms have reported this on a quarterly basis. The most recent reporting was as at end-September 2025.
Simplified notification of marketing of UCITS and AIFs into Norway
- The processing fee has been abolished, and the document handling process has been simplified.
Introduced a new digital solution for reporting suspicious market conduct
- Finanstilsynet has introduced a digital and simpler solution in Altinn for Suspicious Transactions and Orders Reports (‘STORs’) from marketplaces and investment firms.
Introduced more user-friendly formats for publishing on Finanstilsynet’s website
- On Finanstilsynet’s website, content is increasingly published in plain text (HTML) and Power BI rather than in PDF and Excel. The purpose of this is to facilitate better search functionality and to make the information more easily accessible for machine reading and the use of AI. Power BI gives external users easy access to the underlying data.
More efficient inspections at investment firms
- We are conducting a higher proportion of broad-based thematic inspections rather than individual full-scale on-site inspections. This provides a better basis for comparing entities and identifying best practice.
- We have reduced the volume of standard documentation that individual entities are required to submit to Finanstilsynet prior to an inspection.
The supervision process – improvements for supervised entities and individuals
- We have taken feedback from the industry into account and made changes to the way we carry out supervisory processes, thus aiming to make the process relevant and predictable for the entities and individuals subject to supervision. We are carrying out more thematic inspections, the inspection reports are shorter and clearer, and the supervision processes are to be completed more quickly.
- The changes have been implemented in 2025 and 2026 and will be evaluated in 2027.