Price in mandatory offer – provisional rules
The Norwegian Ministry of Finance has issued a provisional regulation for the determination of offer price in mandatory offers where the mandatory offer obligation is triggered by an equity contribution to a company in severe financial distress.
The CRR and CRD IV enter into force in Norway at year-end while the increase in systemic risk buffer is postponed till end of 2020
The Norwegian Ministry of Finance announced on Thursday 5 December that the CRR and CRD IV will (finally) enter into force in Norway on 31 December 2019. Further, on 11 December the Ministry published a proposal for adjustments to the capital requirements which will enter into force at year-end 2020. The Ministry is satisfied with the overall capital levels in Norwegian banks. The aim of the new measures is to ensure that Norwegian banks maintain their capital levels and that non-Norwegian banks are subject to the same requirements when operating in Norway.
Shipping project finance – new regulatory intricacies
Project financing has historically been a popular investment scheme and source of capital in Norway for shipping projects. The Norwegian regulatory authorities have however recently published guidelines regarding the application of the alternative investment fund regime on project finance entities and it is important that issuers, advisors, arrangers and investors are aware of the pitfalls of being captured by the wide definition of an alternative investment fund, and what steps they can take in order to adapt to the regulations.
Brexit – UK firms providing investment services and activities in Norway
A temporary regime is in place allowing for continued provision of services in Norway after Brexit.