Brexit: Amendments to the regulation on contract continuity

In 2018, the Ministry of Finance adopted a temporary regulation authorising firms established outside the EEA that perform investment activities in Norway based on home state authorisation and supervision under the EEA Agreement to continue to provide such investment activities to professional clients and eligible counterparties in Norway after the UK's exit from the EU, subject to certain conditions.

The regulation does not apply to clients who are treated as professionals on request, cf. the Norwegian Securities Trading Act §§ 10-7 and 10-8.

The Ministry has now adopted amendments specifying that the regulation will remain in force after 31 December 2020. The regulation will be revoked on 1 January 2023.

• See more information (in Norwegian only): Finansdepartementet har fastsatt endringer i forskrift om kontraktskontinuitet
• Regulation (This translation is for information purposes only)