Financial reporting
Reporting
Last published: 26 May 2025
Issuers of transferable securities admitted to trading on a regulated market whose home state is Norway are obliged to publish and store periodic financial reports. Finanstilsynet oversees that this obligation is observed. In addition, Finanstilsynet receives reporting from issuers subject to financial reporting oversight.
Publication, storage and reporting format
Periodic financial reports are to be published via media which can reasonably be expected to communicate the information to the public throughout the EEA. See further rules in the Securities Trading Act section 5-12; cf. the Securities Trading Regulations section 5-9. It is customary to publish such material via a news distributor.
Financial reporting that is published should simultaneously be sent electronically to Oslo Børs, which is the designated official storage mechanism (OAM). The storage mechanism in Norway can be found on NewsWeb: https://newsweb.oslobors.no. Finanstilsynet would like to point out that the entire reporting must be stored directly in the OAM. It is not sufficient to post a link to another website where the reports are available.
The statutory requirement to file periodic financial reports with Finanstilsynet, defined in the Securities Trading Act section 5-12 subsection (2), is fulfilled by storing them in the OAM. This applies to both annual and half-yearly reporting.
The entire annual financial report shall be prepared in XHTML format (Extensible Hypertext Markup Language), cf. the Securities Trading Regulations section 5-13. Consolidated financial statements prepared in accordance with IFRS must also be marked up in accordance with the applicable ESEF taxonomy. For consolidated financial statements for the 2021 financial year, the income statement, balance sheet, cash flow statement and statement of changes in equity must be marked up. For consolidated financial statements as from the 2022 financial year, the notes must also be marked up.
The taxonomy is published by ESMA and is updated annually. One of its objectives is to reflect new and changes in IFRS standards or improvements in the general content or technology of the IFRS taxonomy. Finanstilsynet expects issuers to use the most updated version of the taxonomy.
Administrative fines, suspension and halt to trading
Finanstilsynet may impose an administrative fine on an issuer if the financial reporting or the reporting of payments to governments is not in compliance with law or regulations. The same applies if the entity fails to comply with the rules on audit committees. This is applicable to issuers of transferable securities listed on Oslo Børs and Euronext Expand with Norway as their home state.
Exemption from certain reporting requirements for third country issuers / equivalence assessment
Finanstilsynet has concluded that certain US reporting requirements (related to Form 20-F) are equivalent to requirements in the Norwegian legislation incorporating the Transparency Directive. Thus, Finanstilsynet has granted certain exemptions related to the annual financial report to third country issuers listed in the US and on Oslo Børs with Norway as their home state in the EEA.
Even though Finanstilsynet has concluded on equivalence, issuers wishing to apply US reporting requirements have to submit an application to Finanstilsynet for an exemption.
Home state
According to the Transparency Directive, issuers of transferable securities admitted to trading on a regulated market in the EEA must have a home state.
Reporting from entities subject to financial reporting oversight (KRT-1003)
Finanstilsynet requires a separate yearly report (KRT-1003) from all issuers of listed securities having Norway as the home Member State, cf. the Norwegian Securities Trading Regulations section 13-5. More information about KRT-1003 and reporting: