Reporting from entities subject to financial reporting oversight
Publisert: 13. april 2011
Sist endret: 12. mars 2019
Enquiries to: Anne Marie Romsaas
Direct telephone: + 47 22 93 98 87
Our reference: 11/2801
Filing code: 727
With effect from the financial year 2008, foreign issuers with Norway as the home Member State according to section 5-4 of the Norwegian Securities Trading Act (no. 75 of 29 June 2007), must comply with the majority of the rules regarding financial reporting in chapter 5 of the Securities Trading Act and secondary regulations. In accordance with the Securities Trading Act section 15-1 subsection (3), Finanstilsynet (The Financial Supervisory Authority of Norway) oversees the financial reporting of issuers of listed securities.
Every year Finanstilsynet will review a selection of annual financial statements. One of the
models used for selecting financial statements for oversight, is a risk based approach. Related to this, 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 (2). The issuer must answer questions associated with the entity and the
financial statement proposed by the board. The reporting constitutes the starting point for the risk based selection of financial statements for enforcement.
Issuers incorporated in Norway, are required to send the report electronically via the Altinn
internet portal. The Altinn internet portal cannot be used by issuers that are not incorporated in
Norway. The issuer is therefore required to fill out the report, KRT 1003 electronically via Questback (an online survey provider). Finanstilsynet asks for the e-mail address the issuer wants as recipient, as soon as possible and by 1 April 2011 at the latest. Then the issuer will receive an e-mail from Finanstilsynet in the middle of April with the electronic reporting (KRT 1003). Questback requires an identification number, which also will be sent by e-mail.
For issuers with financial year end 31.12, the deadline for filing KRT 1003 is May 15.
Exemption from the deadline can be made in particular cases. Issuers which securities are
delisted between 01.01.2010 to 15.05.2010 can apply for exemption from the reporting duty.
Issuers with divergent financial year have to contact Finanstilsynet regarding clarification of
time schedule for reporting KRT 1003.
If you have any further questions, please do not hesitate to contact the persons below.
On behalf of Finanstilsynet
Siw-Mette Thomassen (sign.)
Head of Section
Anne Marie Romsaas (sign.)