The EU's regulations on securitisation will be incorporated into the EEA Agreement on 12 June. It is likely that the rules quickly will be implemented into Norwegian law, with entry into force 1 January 2025.

Direct lending has so far been largely absent in the Norwegian market due to regulatory constraints. However, the regulatory landscape is about to change which will present new possibilities for non-bank lending.

Long overdue, the PRIIPs Regulation is proposed implemented into Norwegian law. In this newsletter, we have set out the details on how and when PRIIPs is expected to be implemented in Norway.

When do you need to be authorised to manage alternative investment funds? When is it sufficient to be just "registered"? What are the differences?

New and extended gender quota regulations to the board of directors of Norwegian private limited liability companies are adopted. Until now, gender quota regulations have applied only for listed public limited liability companies and state owned companies. The newly adopted regulation, which shall also apply to inter alia certain partnerships, co-operatives and foundations, significantly broadens the scope of gender quota mandates.

The Norwegian Government has recently proposed extending gender quota regulations to the board of directors of certain Norwegian private limited liability companies.

A permanent route for provision of investment services by third-country firms has been introduced.

Anti-Money Laundering

Asset Management

Financial Regulation

Company Law

ESG, compliance and risk management

Sustainability, climate and environment

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Ole heads the firm's Financial Regulations practice, and has comprehensive experience advising all types of regulated entities. This includes investment firms, managers of UCITS and AIFs, banks, insurance/pension, payment services/fintech, virtual currencies and investor conduct. He has led a number of processes towards the Norwegian Financial Supervisory Authority, including advising in obtaining licences etc, but also in connection with contentious cases related to administrative sanctions within the areas of AML, MAR, shareholding disclosure and short selling.

He previously worked as Head of Legal in investment bank Carnegie AS, and he has in-depth and practical knowledge about the regulatory framework surrounding investment firms, asset managers, investor behaviour and adjacent regulations. Prior to this, Ole worked as a lawyer in law firm Thommessen, where he mainly worked with financial regulations, advising a wide range of regulated entities, as well as company law and disputes within these areas.

"While always providing excellent in-depth advice within niche areas, Ole is also a regulatory generalist with detailed knowledge of the entire financial regulatory ecosystem. Navigates complex matters in an outstanding way. Excellent availability" (Legal 500)

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Ole heads the firm's Financial Regulations practice, and has comprehensive experience advising all types of regulated entities.