On Jun. 27, 2025, NOR OSLO announced second part of consultation closed, rules.
Recalled consultation on amendments to Rule Book II for Euronext Oslo Børs and Euronext Expand, Rule Book II for Euronext Growth Oslo, of Jan. 2025 was in 2 parts.
I.e. regulatory changes per Securities Trading Act: entered into force on Apr. 1, 2025.
The second, on removal of rules that reproduce legislative provisions, refer to outdated regulations, or requires updates, now closed, amendments adopted without changes.
Involved moving content i.e. Guidance to admission requirements in chapter 3 Rule Book II for Euronext Oslo Børs and Euronext Expand to Notice 3.4.
Guidance to admission requirements in ch 2 Rule Book II for Euronext Growth Oslo moved to Notice 2.2; rules, guidance re continued admission to trading to new Notice 4.7 while rules and guidance on continued admission to trading to new Notice 3.16.
Amendments were adopted by Euronext Oslo Børs and will take effect on Aug. 1, 2025.
The mark-up versions of the above-mentioned documents are provided in the release.
On Jan. 31, NOR OSLO consulted on changes to two Rule Books.
NOR OSLO issued consultation paper re changes to Rule Book II, Growth Rule Book II.
Overview
NOR OSLO's Rule Books include Harmonized Rules (Rule Book I) and Rule Book II – Issuer Rules (Rule Book II) with accompanying notices for its regulated markets.
And Euronext Growth Harmonized Rulebook I (Growth Rule Book I) and Euronext Growth Oslo Rule Book–Part II (Growth Rule Book II) re its multilateral trading facility.
Rule Books reflect NOR OSLO's supervisory tasks, with rules related to disclosure obligations and handling of inside information under the provisions of MAR.
Including also extensive guidance on NOR OSLO's understanding and practice.
Rule Book II and Growth Rule Book II further contain rules re the Public Administration Act, and on the authority of the Exchange Appeals Committee re resolutions' appeals.
Due to legal developments, repeals, transfer of authority, the Rule Books will change.
Revision of rules that merely reproduce existing legislation, refer to outdated provisions, or rules that otherwise require updates, and alignment with legal changes.
Proposed Rule Books' changes will be given effect in 2 stages, i.e. substantial changes are planned to apply on Apr. 1, 2025, other changes in form will apply at a later date.
Substantive changes include information disclosure, procedural rules, appeals system.
Publication of statements, equal treatment, share capital registration exemption.
New content requirement in separate announcements re (reverse) share split.
Other no substantive changes with effect on a subsequent date in 2025 are in a table.
Effectiveness
Comments on the changes expected to enter into force as of Apr. 1, 2025, can be submitted by email until Feb. 21, 2025.
Comments on the changes expected to enter into force at a later point in time in 2025 can be submitted by email until Mar. 28, 2025.
Feb. 28, 2025 Updates
On Feb. 28, 2025, NOR OSLO confirmed that the consultation with the earlier deadline has closed, and that proposed amendments had been adopted without changes.
These will take effect on Apr. 1 2025, provided corresponding Securities Trading Act updates enter into force on the same date; NOR OLSO will send a separate letter to issuers in mid-Mar. 2025 with information regarding amendments entering into force.
NOR OSLO confirmed that the second part of the consultation remains open until Mar. 28, 2025, with a further announcement published once this has been concluded.
In Feb. 2025, NOR OSLO confirmed amendments from Apr. 1, 2025, see #245533.
Jun. 2025 Further Amendments
On Jun. 27, 2025, NOR OSLO announced second part of consultation closed, rules.
Recalled consultation on amendments to Rule Book II for Euronext Oslo Børs and Euronext Expand, Rule Book II for Euronext Growth Oslo, of Jan. 2025 was in 2 parts.
I.e. regulatory changes per Securities Trading Act: entered into force on Apr. 1, 2025.
The second, on removal of rules that reproduce legislative provisions, refer to outdated regulations, or requires updates, now closed, amendments adopted without changes.
Involved moving content i.e. Guidance to admission requirements in chapter 3 Rule Book II for Euronext Oslo Børs and Euronext Expand to Notice 3.4.
Guidance to admission requirements in ch 2 Rule Book II for Euronext Growth Oslo moved to Notice 2.2; rules, guidance re continued admission to trading to new Notice 4.7 while rules and guidance on continued admission to trading to new Notice 3.16.
Amendments were adopted by Euronext Oslo Børs and will take effect on Aug. 1, 2025.
The mark-up versions of the above-mentioned documents are provided in the release.
Regulators
NOR OSLO
Entity Types
B/D; Corp; Exch
Reference
RF, PR, 6/27/2025; FS, PR, 2/28/2025; RF, CP, 1/31/2025; MAD/MAR Dir 2014/57, Reg 596/2014; CSRD Dir 2022/2464; ESG
