On Jun. 24, 2025, NOR GVT published FOR-2025-06-24-1202 on split entry into force of LOV-2024-06-25-60 on changes to financial market legislation (comprehensive bill).
The amendment of Act Part I (Securities Trading Act) and amendment to section 17-1, first paragraph, letter m will enter into force on Aug. 1, 2025.
On Apr. 5, NOR GVT proposed various changes in financial market law.
NOR GVT proposed various changes in financial market area which apply to provisions in Securities trading act, Financial institutions act and Money laundering act.
Also issued consent to the approval of 4 decisions of the EEA Joint Committee on the incorporation into the EEA Agreement of legal acts, under Prop. 74 LS (2023-2024).
On same day, NOR GVT highlighted proposals re beneficial owner register, #194252.
Supervision of the continuing duty of disclosure and deferred disclosure of inside information and task of offering authority be transferred from Oslo Bors to NORFSA.
Amendments to the Securities trading act, the Securities funds act and the AIF Act to implement Reg 2015/2365 on securities financing transactions (SFTR).
An important purpose of the rules is to provide the authorities with information about such transactions through the obligation to report to transaction registers.
Amendments to the Securities trading act to implement Reg 2019/834 EMIR Refit.
Extend scope of Money laundering act to actors in art trade, special services providers.
Pilot scheme for market infrastructures based on decentralized register technology.
Amendments to Financial institutions act on suitability assessments in connection with subsequent acquisition of qualified ownership interests in financial undertakings.
Jun. 2024 Legislative Decree
On Jun. 12, 2024, NOR PRL issued Legislative Decree 92 (2023-2024) inst. 365 L (2023-2024), cf. prop. 74 LS (2023-2024) resolution to act on changes in financial market legislation (collective proposal); re amendments to various financial acts.
I.e., the Act 75 of Jun. 29, 2007 on securities trading; Act 44 of Nov. 25, 2011 on mutual funds; Act 28 of Jun. 20, 2014 on management of alternative investment fund.
Also, Act 17 of Apr. 10, 2015 on financial undertakings and financial groups (the Financial Undertakings Act); Act 23 of Jun. 1, 2018 on measures against AML/CFT.
Act 2 of Mar. 1, 2019 on the register of beneficial owners; Act 6 of Mar. 15, 2019 on central securities and securities settlement; Act 90 of Dec. 16, 2022 on accountants.
Provisions will apply from a date to be appointed; Ministry can issue transitional rules.
The act (LOV-2024-06-25-60) follows Storting's first and second readings on Jun. 12 and 17 2024, respectively, and changes proposed by NOR GVT Ministry of Finance.
Also LOV-2022-12-16-90 which relates in particular to changes in Accounting Act.
Act applies from date(s) to be appointed, and NOR GVT may issue transitional rules.
Published royal decree FOR-2024-06-25-1214 which brought provisions into force on Jul. 1, 2024, Aug. 1, 2024, Oct. 1, 2024, and Jan. 1, 2025.
Date appointed for amendments to the Securities Trading Act, the Securities Funds Act, the AIF Act and the Central Securities Act to enter into force is Aug. 1, 2024.
These provisions implement EU SFTR, EMIR Refit and DLT Regulation.
From Oct. 1, 2024, companies can register information in register of beneficial owners.
From Jul. 31, 2025 there will be an obligation to register such information.
Phase-in will be set out in regulations under Act on register of beneficial owners.
The Ministry of Finance is working on a consultation note on changes to the regulations, also with regard to access to the information in the register.
On Mar. 21, 2025, NOR GVT published FOR-2025-03-21-481 re split entry into force of LOV-2024-06-25-60 on amendments to financial market legislation (collective bill).
The parts that will enter into force on Apr. 1, 2025 are: Amendment Act Part I (Securities Trading Act) the amendment to § 6-4, new § 9-30a, the amendment to § 11-13, the amendment to the chapter heading to Chapter 12, the repeal of section heading I in Chapter 12, the amendment to § 12-8, the repeal of § 12-9, the repeal of Chapter 12 Section II, the amendment to § 19-1, the repeal of § 19-12, the amendment to § 21-1, the amendment to § 21-8 and the amendment to § 21-11.
Amendment Act Part III (AIF Act) amendment to Section 9-6, first paragraph, letter f.
In Mar. 2025, NORFSA announced it will take over new tasks and role, see #247952.
Jun. 2025 Split Entry Into Force
On Jun. 24, 2025, NOR GVT published FOR-2025-06-24-1202 on split entry into force of LOV-2024-06-25-60 on changes to financial market legislation (comprehensive bill).
The amendment of Act Part I (Securities Trading Act) and amendment to section 17-1, first paragraph, letter m will enter into force on Aug. 1, 2025.
