Norway’s Financial Regulatory Body Issues Guidelines on Reporting Requirements for Listed Issuers

New Guidelines Aim to Ensure Compliance with Regulatory Reporting Obligations

Oslo, Norway - Finanstilsynet, the Norwegian Financial Supervisory Authority, has issued guidelines on periodic financial reporting requirements for listed issuers in Norway. The guidelines aim to ensure compliance with regulatory reporting obligations and penalties for non-compliance.

Consequences of Non-Compliance

Listed issuers who fail to meet reporting deadlines may face a violation penalty imposed by Finanstilsynet.
Suspension or temporary halt to trading of quoted financial instruments may be implemented if periodic financial reports are not published on time.

Exemptions for Third-Country Issuers

The authority has granted exemptions to third-country issuers listed on the Oslo Stock Exchange and listed in the US, provided they have Norway as their home state in the EEA.
These issuers can apply for an exemption by submitting a request to Finanstilsynet, citing equivalence with US periodic financial reporting requirements.

Finanstilsynet has clarified that certain accounting-related issues will be addressed through supervision of financial reporting in 2008.
The authority emphasized the importance of storing actual copies of financial reports and not just links to online access, as it may have limited access to stored reports.

Additional Requirements

Finanstilsynet requires a separate yearly report (KRT-1003) from all issuers of listed securities having Norway as their home Member State, in accordance with the Norwegian Securities Trading Regulations section 13-5.
More information on KRT-1003 and reporting can be found at Finanstilsynet’s website.

Effective Date

The guidelines are effective immediately, replacing previous circulars and providing clarity for listed issuers on regulatory reporting requirements in Norway.