Marketing of Norwegian UCITS abroad
Last published: 23 January 2024
Management companies intending to market Norwegian UCITS in another EEA member state shall notify this to Finanstilsynet.
Norwegian mutual funds covered by the UCITS Directive (Directive 2009/65/EC) may be marketed in other member states pursuant to the Securities Funds Act, Section 9-2.
Requirements for the notification
The notification shall contain the latest versions of the following documents:
- Standard notification letter completed by the fund/management company (Annex I to Commission Regulation (EU) No 584/2010): Notification letter). Finanstilsynet recommends that the standard notification letter prepared by the relevant host member state be used.
- Fund rules or instruments of incorporation
- Prospectus
- Key investor information
- Annual report and any half-yearly report
The attachments shall be prepared in a language approved by the host member state.
Finanstilsynet shall, no later than ten working days after receipt of a complete notification, transmit this and a confirmation that the fund is a UCITS to the competent authorities in the host member state. Finanstilsynet shall immediately inform the management company that transmission has taken place. The management company may commence marketing from this point in time.
Submission of the notification
Notifications shall be sent electronically to ucits.notifications@finanstilsynet.no.
Finanstilsynet accepts electronic notifications with attachments of up to 30 MB and recommends that notifications are sent in the following file format:
- PDF document
- Microsoft Office document
- Zipped formats will be accepted
No notification fees are charged.
Other requirements
The management company shall keep updated and translated documents as mentioned above electronically available. The management company shall notify the competent authority in the relevant host member state of changes in the documents and state where the documents are electronically available. Changes in how the fund is marketed or changes concerning unit classes may not be put into effect until the relevant host state authority has received written notification thereof from the management company.