Finanstilsynet today adopted two sets of regulations in the securities market area. The regulations mirror the content of MiFID II and MiFIR. Regulations adopted by Finanstilsynet on 9 November 2017 are revoked.
The Norwegian securities market is important for a well-functioning Norwegian capital market, and for Norwegian firms' ability to raise capital for business efficiently and effectively. The EU's updated financial market framework, MiFID II/MiFIR, will apply from 3 January 2018. By virtue of the EEA Agreement, Norwegian securities markets are part of the single market and closely integrated with the European market. It is in the interest of a well-functioning securities market that Norwegian rules conform to EU rules.
To this end, after delegation from the Ministry of Finance, Finanstilsynet today adopted regulations that place Norwegian investment firms and regulated markets under the same requirements as their counterparts in the EU. The regulations make Norwegian firms, which by virtue of the EEA Agreement are part of the single market, subject to the same regulatory framework and assure them the same treatment as their EU counterparts.
Finanstilsynet has adopted one set of regulations that mirrors the content of MiFID II, and one set of regulations that mirrors the content and structure of MiFIR. The two sets of regulations enter into force on 1 January 2018.
The rules governing the publication of information on orders and trades, the activity of investment firms as systematic internalisers, transaction reporting and the activity of approved publication arrangements, as laid down in Finanstilsynet's regulations of 9 November 2017, are continued in the two new sets of regulations adopted today.
Finanstilsynet's temporary regulations of 9 November 2017 No. 1757 are revoked.
- MiFID II / MiFIR (Norwegian only)