Reporting from entities subject to financial reporting oversight (KRT-1003) must be completed by all entities listed on Oslo Børs/Euronext Expand (Oslo Axess) that issue shares, bonds and/or equity certificates, and that have Norway as their home state.
All registered issuers listed on 31 December 2020 are subject to the reporting obligation. Companies that have been delisted after 31 December 2020 can apply for an exemption.
Important changes in reporting
Finanstilsynet has decided to move the reporting of KRT-1003 to Altinn. Issuers that are not incorporated in Norway will no longer report KRT-1003 via Questback (an online survey provider) and will therefore have to register a user in Altinn.
Once a new user has been created, the username and LEI (Legal Entity Identifier) must be sent to KRT1003email@example.com. This information must be submitted to Finanstilsynet no later than 26 February 2021.
NOTE: The username on Altinn.no should be a generic email address. Individual usernames will not be accepted by Finanstilsynet.
Deadline for submission
The estimated date for publication of KRT-1003 via Altinn is 10 March 2021. The reporting deadline is 10 May 2021.
The report forms the basis for Finanstilsynet's risk-based selection of companies and accounts to be subject to oversight, and it is of great importance that issuers meet the reporting deadline of 10 May 2021.
Weaknesses in the reporting to Finanstilsynet
In the review of the issuers' reporting in KRT-1003 for the financial year 2018, Finanstilsynet revealed an excessive number of errors.
Just like last year, Finanstilsynet has chosen to publish the guide to this year's KRT-1003 early to give issuers sufficient time to ensure the quality of information provided in KRT-1003. In order to make it easier for companies to distribute tasks and responsibilities related to the form, the guide is published in both PDF and Excel.
Guide to KRT-1003 for the financial year 2020
The guide contains all questions and answers that will be included in this year's KRT-1003. Help text and explanations to the questions appear where relevant. Finanstilsynet reserves the right to make minor changes to the form when publishing KRT-1003 via Altinn on 10 March 2021.
Issuers are encouraged to read the guide as early as possible to ensure that enough time and resources are set aside to complete the form.
Guide for KRT-1003: