The Ministry of Finance has decided that the operative control of prospectuses for transferable securities that is currently performed by Oslo Børs (Oslo Stock Exchange) will be transferred to Finanstilsynet with effect from 1 May 2010. This is an element of the transposition of common European legislation in the securities area. Finanstilsynet is preparing for the transition in close co-operation with Oslo Børs.
Oslo Børs has performed the work of the operative control of prospectuses in a satisfactory manner, and the goal of Finanstilsynet is to continue this control with the same procedures and principles. Continuity will be ensured in part by the transfer of a number of employees of Oslo Børs to Finanstilsynet together with the responsibility for the task.
Information for issuers, managers and others who prepare prospectuses for approval.
Finanstilsynet will provide further information about the transition, including in the form of a circular to be published in the middle of April. With the exception of any possible clarifications that might appear in this circular, the issuers, managers and others who prepare prospectuses for approval should proceed in the same manner in relation to Finanstilsynet as they have done in relation to Oslo Børs. Until further notice, Finanstilsynet will base its control of prospectuses on the same interpretations and information, etc. that Oslo Børs has applied in its control of prospectuses.
Prospectuses that shall be controlled and approved as of 1 May 2010, must be sent directly to Finanstilsynet’s e-mail address: prospekter@finanstilsynet.no. Prospectuses that have already been submitted and are being processed by Oslo Børs as on 1 May will automatically be transferred to and processed by Finanstilsynet. Prospectuses approved prior to 1 May will be available at Oslo Børs' web site.