News feedFinanstilsynet's news feed.https://www.finanstilsynet.no/2024-03-13T17:01:06Zhttps://www.finanstilsynet.no/en/news-archive/inspection-reports/2024/inspection-report---verdipapirsentralen-asa/Inspection report - Verdipapirsentralen ASAFinanstilsynet has carried out the first annual review of Verdipapirsentralen ASA (Euronext Securities Oslo /"ES-OSL") in accordance with the requirements of the European Central Securities Depositories Regulation (CSDR). The review took place from 1 March to 31 December 2022.
The review covered certain operational matters that may pose a risk to ES-OSL. This includes ES-OSL's follow-up of account operators, CSD links and incident management.2024-03-13T17:01:06Z2024-03-13T17:01:06Zhttps://www.finanstilsynet.no/en/news-archive/news/2024/changes-in-finanstilsynets-organisation/Changes in Finanstilsynet's organisationFinanstilsynet has today adjusted its organisational structure.
A major change is that the former Digitalisation and Analysis department has been divided in two: Risk Surveillance and Macroeconomic Supervision and Digitalisation and Reporting. In addition, some functions have been moved between sections and departments.2024-03-04T09:00:17Z2024-03-04T09:00:17Zhttps://www.finanstilsynet.no/en/news-archive/news/2024/risk-outlook--december-2023---full-report/Risk Outlook – December 2023 - full reportThe full report is now available in English. Please note that the cut-off date was 6 December 2023.2024-01-11T13:20:01Z2024-01-11T13:20:01Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/shortsale-decision-on-violation-penalty---orca-capital-gmbh/Shortsale: Decision on violation penalty - Orca Capital GmbH2023-12-21T19:12:14Z2023-12-21T19:12:14Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/private-placements-and-equal-treatment-of-shareholders/Private placements and equal treatment of shareholdersIn 2023, Finanstilsynet has carried out thematic reviews of the largest investment firms and Oslo Børs. Finanstilsynet has also looked into how some issuers handle inside information in connection with the implementation of private placements.2023-12-19T12:35:18Z2023-12-19T12:35:18Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/risk-outlook--december-2023/Risk Outlook – December 2023Owing to many years of low interest rates and ample access to credit, the debt burden of households and non-financial corporations has increased both in Norway and internationally, as has the debt burden of central and local government in a number of countries. This has resulted in vulnerabilities in the economies and a greater risk of financial instability.2023-12-07T09:15:15Z2023-12-07T09:15:15Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty7/Decision on violation penalty - Cazadores Investments Limited2023-11-15T16:00:00Z2023-12-21T18:58:28Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/reminder-notification-threshold-for-shares-lowered-to-01-from-1-august-2023/Reminder: Notification threshold for shares lowered to 0.1% from 1 August 2023Finanstilsynet issues a reminder for market participants that Delegated Commission Regulation (EU) 2022/27, which lowers the threshold for reporting net short positions in shares from 0.2% to 0.1%, was incorporated into Norwegian law with effect from 1 August 2023.2023-09-25T09:42:30Z2023-09-25T09:42:30Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/cross-border-activity-by-investment-firms-in-third-countries/Cross-border activity by investment firms in third countriesThe Ministry of Finance has amended the Securities Trading Regulations by adding a new Section 9-39 a. The new provision entitles, under certain terms and conditions, undertakings with their head office outside the EEA to provide investment services and perform investment activities in relation to Norwegian eligible counterparties and the Norwegian Banks' Guarantee Fund without a Norwegian authorisation. The amendment has entered into force.2023-09-13T13:46:25Z2023-09-13T13:46:25Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/risk-outlook--june-2023---full-report/Risk Outlook – June 2023 - full reportThe full report is now available in English. Please note that the cut-off date was 7 June 2023.2023-07-06T13:49:35Z2023-07-06T13:49:35Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/notification-threshold-for-shares-lowered-to-01-from-1-august-2023/Notification threshold for shares lowered to 0,1% from 1 August 2023Commission Delegated Regulation (EU) 2022/27, which lowers the notification threshold of net short positions in shares from 0,2% to 0,1%, will be incorporated into Norwegian law with effect from 1 August 2023.2023-07-05T10:15:54Z2023-07-05T10:15:54Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2023/risk-outlook--june-2023/Risk Outlook – June 2023High debt in Norwegian households and elevated residential and commercial property prices represent the key vulnerabilities in the Norwegian financial system. Norwegian banks are particularly vulnerable in a scenario characterised by an economic downturn, a sharp rise in interest rates and a property market crash.2023-06-08T08:15:14Z2023-06-08T08:15:14Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty5/Shortsale: Decision regarding violation penalty2023-05-15T06:10:22Z2023-05-15T06:10:22Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty4/Shortsale: Decision regarding violation penaltyUpdate 27th of June 2023:
The decision to impose a violation penalty has been appealed to the Ministry of Finance.2023-05-15T06:09:54Z2023-06-27T12:38:06Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty3/Decision regarding violation penalty2023-05-15T06:09:27Z2023-05-15T06:09:27Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty2/Decision regarding violation penaltyUpdate 27th of June 2023:
The decision to impose a violation penalty has been appealed to the Ministry of Finance.2023-05-15T06:08:57Z2023-06-27T12:40:37Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty6/Decision regarding violation penaltyUpdate 27th of June 2023:
The decision to impose a violation penalty has been appealed to the Ministry of Finance.2023-05-15T06:08:23Z2023-06-27T12:39:58Zhttps://www.finanstilsynet.no/en/news-archive/letters/2023/decision-regarding-violation-penalty/Decision regarding violation penalty2023-05-15T06:07:35Z2023-05-15T06:07:35Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/violation-penalty-imposed-on-six-investors-for-uncovered-short-selling-in-the-flyr-placement/Violation penalty imposed on six investors for uncovered short selling in the Flyr placementFinanstilsynet has imposed violation penalties on six investors for breaching the rules on uncovered short selling. The violations occurred after the investors had been allocated shares in the private placement in Flyr AS in November 2022. The penalties are between NOK 50,000 and NOK 5,000,000.2023-05-15T06:00:19Z2023-05-15T06:00:19Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/new-director-general-of-finanstilsynet/New Director General of Finanstilsynet from 15 August 2023Per Mathis Kongsrud has today been appointed by the Council of State to the position of Director General of Finanstilsynet for a six-year term.2023-04-14T10:10:20Z2023-04-14T10:10:20Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/reports-from-the-supervised-sectors-for-2022/Reports from the supervised sectors for 2022Finanstilsynet’s reports from the supervised sectors provide an overview of important supervisory, licensing and regulatory matters in 2022, as well as relevant development trends.2023-04-03T11:45:27Z2023-04-03T11:45:27Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/information-on-climate-related-matters-in-annual-financial-reports/Information on climate-related matters in annual financial reportsThe full report is now available in English. Please note that the cut-off date was 15 December 2022.2023-03-20T11:44:12Z2023-03-20T11:44:12Zhttps://www.finanstilsynet.no/en/news-archive/news/2023/risk-outlook--december-2022---full-report/Risk Outlook – December 2022 - full reportThe full report is now available in English. Please note that the cut-off date was 7 December 2022.2023-01-09T15:54:14Z2023-01-09T15:56:18Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/review-of-listed-companies-financial-reporting-in-2021/Review of listed companies’ financial reporting in 2022In the report, Finanstilsynet provides information about completed review activities related to financial reporting and Finanstilsynet’s prioritised areas in the review of annual financial reports for 2022.2022-12-21T09:11:19Z2022-12-21T09:11:19Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/the-european-banking-authority-eba-has-assessed-norwegian-capital-instruments/The European Banking Authority (EBA) has assessed Norwegian capital instrumentsFinanstilsynet has today sent a letter to the Ministry of Finance regarding EBA's assessment of Norwegian shares, equity certificates and members’ contributions in credit associations.2022-12-19T09:06:26Z2022-12-19T09:06:26Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2022/risk-outlook--december-2022/Risk Outlook – December 2022In Finanstilsynet's view, there is a heightened risk of financial instability in the period ahead. The war in Ukraine, the impact of the Covid-19 pandemic and high inflation give rise to considerable economic and financial uncertainty. High debt in Norwegian households and elevated residential and commercial property prices still represent the key vulnerabilities in the Norwegian financial system.2022-12-08T09:15:00Z2022-12-08T09:15:07Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/priips-and-key-information-on-mutual-funds/PRIIPs and key information on mutual fundsRegulation (EU) No 1286/2014 of the European Parliament and of the Council (‘PRIIPs Regulation) regulates key information documents for packaged retail and insurance-based investment products (PRIIPs). Manufacturers of such products shall prepare key information in a standardised document in order to give retail investors access to important information about the product prior to concluding a contract. Regulation (EU) 2017/653 and Regulation (EU) 2021/2268 lay down supplementary requirements for the content of the key information.2022-11-11T09:30:16Z2022-11-11T09:30:16Zhttps://www.finanstilsynet.no/en/news-archive/circulars/2022/finanstilsynets-practices-for-assessing-risk-and-capital-needs/Finanstilsynet's practices for assessing risk and capital needsThis circular and appendices describe the main elements of Finanstilsynet's assessment of institutions’ overall risk level and need for capital (SREP), including Finanstilsynet's methodology for assessing capital needs under Pillar 2. The circular must be viewed in the context of the European Banking Authority's (EBA) SREP guidelines and the determination of capital needs under Pillar 2. This circular replaces circular 12/2016.2022-11-08T17:02:30Z2022-11-08T17:22:48Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/identical-letter-to-all-companies-on-oslo-bors-regarding-deficiencies-in-esef-reporting/Identical letter to all companies on Oslo Børs regarding deficiencies in ESEF reportingFinanstilsynet has sent a general and identical letter to all companies listed on the regulated market on Oslo Børs concerning the results of a review related to the common electronic reporting format (ESEF) and the disclosure and storage of annual reports and audit reports for 2021.2022-09-29T13:54:35Z2022-09-29T13:54:35Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/amendments-to-eus-transparency-directive-are-implemented-in-norway/Amendments to EUs Transparency Directive are implemented in NorwayAs of 1 September 2022 Directive 2013/50/EU which amends Directive 2004/109/EF (Transparency Directive) enters into force under Norwegian law. The amendments relate to provisions which regulate notifications of major shareholdings in shares listed on a regulated market (Oslo Børs and Euronext Expand).2022-08-31T13:04:36Z2022-08-31T13:04:36Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/risk-outlook--june-2022/Risk Outlook – June 2022 - full reportThe full report is now available in English. Please note that the cut-off date was 7 June 2022.2022-07-07T12:05:04Z2022-07-07T12:16:15Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/new-guidance-to-third-country-issuers-on-periodic-financial-reporting/New guidance to third country issuers on periodic financial reportingThe guidance provides information to third country issuers on periodic financial reporting. It replaces circular 10/2011, which is no longer in force.2022-07-06T09:19:05Z2022-07-06T09:19:05Zhttps://www.finanstilsynet.no/en/news-archive/letters/2022/decision-on-violation-charge--first-mover-group-as/Decision on violation charge – First Mover Group ASIn accordance with the Securities Trading Act Section 21-3 subsection (2), Finanstilsynet (The Financial Supervisory Authority of Norway) has imposed a violation penalty to First Mover Group AS of NOK 11025 for delayed financial reporting of the annual report for 2021.2022-06-30T14:46:24Z2022-06-30T14:46:24Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2022/risk-outlook--june-2022/Risk Outlook – June 2022The economies of Norway and several other countries are now characterised by high levels of activity and few available resources. However, the outlook for the global and Norwegian economies is highly uncertain. Supply chain disruptions, partly as a result of the Covid-19 pandemic and the war in Ukraine, have dampened growth prospects and contributed to a sharp rise in global inflation. Central banks in several countries have raised their key policy rates and announced further interest rate increases. Prospects of weaker economic growth combined with persistently high inflation have raised fears of stagflation.2022-06-08T08:26:51Z2022-06-08T09:08:07Zhttps://www.finanstilsynet.no/en/news-archive/letters/2022/decision-regarding-violation-penalty---think-investments-lp/Decision regarding violation penalty - Think Investments LPThe decision was appealed 26 April 2022. In a decision 31 January 2023, the Ministry of Finance upheld Finanstilsynet's assessment.2022-05-05T12:30:47Z2023-05-19T12:35:10Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/reports-from-the-supervised-sectors-for-2021/Reports from the supervised sectors for 2021Finanstilsynet’s reports from the supervised sectors provide an overview of important supervisory, licensing and regulatory matters in 2021, as well as relevant development trends.2022-03-31T20:26:10Z2022-04-06T15:58:18Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/warns-against-investment-offer-andelex/Finanstilsynet (The Financial Supervisory Authority of Norway) warns against investment offers promoted by AndelexAndelex is not authorised to provide investment services in Norway.2022-03-29T13:19:40Z2022-03-29T13:19:40Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/sanctions-against-russia-incorporated-into-norwegian-law/Sanctions against Russia incorporated into Norwegian lawIn response to Russia's illegal attack on Ukraine, the Norwegian government has today imposed extensive sanctions. Finanstilsynet asks all supervised institutions to ensure that they have good procedures and systems in place to ensure compliance with the regulations.2022-03-18T14:14:23Z2022-03-18T14:14:23Zhttps://www.finanstilsynet.no/en/news-archive/news/2018/updated-guidance-to-the-asset-freeze-provisions/Updated guidance to the asset freeze provisionsThe Ministry of Foreign Affairs and Finanstilsynet have updated the guidance to the asset freeze provisions. The updated version was made available in April 2018. The original guidance was published in June 2016 and is intended to make it easier to understand the financial sanctions to be observed by Norwegian market players.2022-03-18T14:13:06Z2022-03-18T14:13:06Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2022/improved-profitability-for-norwegian-financial-institutions-in-2021/Improved profitability for Norwegian financial institutions in 2021Banks, insurers and pension funds delivered a stronger financial performance in 2021 than the year before. For insurers and pension funds, stock market developments had the most pronounced positive impact on profits, while non-life insurers also recorded an increase in profits from insurance business. A significant decline in loan losses from 2020 was the main factor behind the rise in banks' profits.2022-02-28T17:14:57Z2022-02-28T17:14:57Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/updated-information-on-nominee-registration/Updated information on nominee registrationThe new Act on Central Securities Depositories and the Central Securities Depositories Regulation (CSDR) enter into force on 1 March 2022 for Norwegian market players. In this connection, Finanstilsynet has published updated information on requirements for approval to act as nominee and requirements for approved rules on legal rights.2022-02-28T15:40:15Z2022-02-28T21:23:47Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/control-of-prospectuses-in-2021/Control of prospectuses in 2021Finanstilsynet reports its observations from the control of prospectuses and enquiries to Finanstilsynet concerning prospectuses in 2021.2022-02-14T16:00:35Z2022-02-14T16:00:35Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/report-on-thematic-inspection--euronext-growth/Report on thematic inspection – Euronext GrowthA large number of companies with a short history and no or very low revenues have been admitted to trading on Euronext Growth. Investments in such companies involve considerable risk. Finanstilsynet has therefore carried out an inspection of Oslo Børs' process for admission to this marketplace, investment firms that have assisted the companies as advisors and managers, and auditors who audit the financial statements of the companies admitted to trading.2022-01-28T08:20:04Z2022-01-28T08:20:32Zhttps://www.finanstilsynet.no/en/news-archive/news/2022/risk-outlook---december-2021/Risk Outlook - December 2021The full report is now available in English. Please note that the cut-off date was 1 December 2021.2022-01-14T13:37:20Z2022-01-14T13:37:20Zhttps://www.finanstilsynet.no/en/news-archive/news/2021/finfluencers-and-consumer-protection/Finfluencers and consumer protectionArticle written by consumer coordinator Jo Gjedrem. Published in Dagens Næringsliv on 19 August 2021.2022-01-13T09:45:11Z2022-01-13T09:45:11Zhttps://www.finanstilsynet.no/en/news-archive/circulars/2021/lending-practices-for-residential-mortgages-and-consumer-loans/Lending practices for residential mortgages and consumer loans2021-12-30T13:55:05Z2021-12-30T13:59:22Zhttps://www.finanstilsynet.no/en/news-archive/news/2021/review-of-listed-companies-financial-reporting-in-2021/Review of listed companies’ financial reporting in 2021In the report, Finanstilsynet provides information about completed review activities related to financial reporting and Finanstilsynet’s prioritised areas in the review of annual financial reports for 2021.2021-12-21T18:14:13Z2021-12-21T18:21:58Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2021/risk-outlook--december-2021/Risk Outlook – December 2021The Norwegian and international economies have rebounded, but there is considerable uncertainty about the further path of the pandemic. High household debt and high property prices are the key vulnerabilities in the Norwegian financial system. It is vital that the banks are well capitalised to be able to absorb loan losses and provide loans to creditworthy customers during an economic downturn.2021-12-02T09:00:00Z2021-12-02T09:18:23Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2021/improved-profitability-in-norwegian-financial-institutions-after-the-first-three-quarters-of-2021/Improved profitability in Norwegian financial institutions after the first three quarters of 2021After the first three quarters of 2021, both banks and insurers show a better performance than in the corresponding period of 2020. For the banks, lower loan losses were the main factor behind the rise in profits. For the insurers, the stock market upturn helped to raise investment income. Non-life insurers also recorded an increase in profits from insurance business.2021-11-29T12:41:37Z2021-11-29T12:41:37Zhttps://www.finanstilsynet.no/en/news-archive/press-releases/2021/improved-profitability-in-norwegian-financial-institutions-after-the-first-three-quarters-of-2021/Improved profitability in Norwegian financial institutions after the first three quarters of 2021After the first three quarters of 2021, both banks and insurers show a better performance than in the corresponding period of 2020. For the banks, lower loan losses were the main factor behind the rise in profits. For the insurers, the stock market upturn helped to raise investment income. Non-life insurers also recorded an increase in profits from insurance business.2021-11-29T10:17:00Z2021-11-30T10:17:45Z