Compliance and crisis management

  • Compliance og krisehåndtering

    2019

    Update – Beneficial ownership register act

    In order to fully implement the EU Fourth Anti-Money Laundering Directive, Norway is soon to establish the necessary legal basis for a Beneficial Ownership Register. The EU Fourth Anti-Money Laundering Directive article 30 provides that companies in Member States should obtain and hold information relating to their “Beneficial Owners” and that this information should be reported to a central register.

  • Compliance

    2018

    The new Norwegian anti-money laundering legislation will enter into force 15 October 2018

    The new Norwegian Anti Money Laundering Act was adopted 1 June 2018. A new Regulation, supplementing the Act, was adopted 14 September 2018. Both the Act and Regulation will enter into force 15 October 2018.

  • Compliance og krisehåndtering

    2018

    Ny hvitvaskingslov og -forskrift trer i kraft 15. Oktober 2018

    Forskrifter til ny hvitvaskingslov er vedtatt og det er besluttet at nytt regelverk trer i kraft 15. oktober 2018. Med ny hvitvaskingslov og -forskrift vil Norge implementere sentrale deler av EUs fjerde hvitvaskingsdirektiv og anbefalingene fra Financial Action Task Force (FATF).

  • Compliance

    2018

    Proposal to parliament – beneficial ownership register act

    Today the Ministry of Finance presented a proposal for a new Beneficial Ownership Register Act. The proposal will implement the EU Fourth Money Laundering Directive chapter III on beneficial ownership information.

  • International sanctions and export control Compliance and crisis management

    2018

    What Do President Trump's Iran Threats Mean for Norwegian Companies?

    At last month's State of the Union address, President Trump called on Congress to "address the fundamental flaws in the terrible Iran nuclear deal". Trump has been attacking the deal, formally known as the Joint Comprehensive Plan of Action (the "JCPOA"), since he began campaigning for the presidency. But this latest statement, made at one of Washington's most important political events and coming on the heels of Trump's January 12 threat to withdraw from the JCPOA, suggests that the president may be closer to taking action. If Trump does decide to end US participation in the JCPOA, how will he do it? And what will this mean for Norwegian companies considering business in Iran?

  • Compliance

    2018

    Should privilege against self-incrimination apply to corporate investigations?

    Privilege against self-incrimination is a fundamental principle that protects witnesses from revealing information which might expose them to an accusation or criminal charge. Many legal systems recognise this privilege, and in Norway the right to protect oneself against self-incrimination is a rule of law. The privilege derives both from the right to a fair hearing as defined in article 95 of Constitution and article 6(1) of the European Convention on Human Rights in addition to article 14(3)g of the United Nations Convention on Civil and Political Rights. In the US the privilege is enshrined in the Fifth Amendment to the Constitution.

  • Compliance

    2018

    Forslag til ny lov om register over reelle rettighetshavere lagt frem for Stortinget

    Regjeringen la i dag frem forslag til en ny lov om register over reelle rettighetshavere i Prop. 109 L (2017-2018). Loven implementerer EUs fjerde hvitvaskingsdirektivs forpliktelse til å opprette et sentralt register over reelle rettighetshavere.

  • International sanctions and export control Compliance and crisis management

    2018

    Considerations for Norwegian Companies after the US Withdrawal from the Iran Nuclear Deal

    On May 8, President Donald Trump announced that the United States would withdraw from the Iran nuclear deal, otherwise known as the Joint Comprehensive Plan of Action ("JCPOA"), and re-impose the sanctions that the US had lifted under the deal. This will have important ramifications for Norwegian companies as the United States will quickly revert to the sanctions regime that existed before the JCPOA.

  • Compliance

    2018

    Update: New money laundering act and new report from FATF

    On Friday 16 February 2018 the Government presented a proposal for a new Anti-Money Laundering Act. The proposal will implement most of the EU Fourth Money Laundering Directive (Directive (EU) 2015/849).

  • Compliance

    2018

    Corporate criminal liability; the impact of an effective compliance program

    An effective compliance program is essential for any business and it needs to be strong, both on paper and in practice. It addition to providing measures to assist companies to prevent, detect and respond to violations of laws and regulations, such programs have an important role to play as part of any defence against corporate criminal investigations and prosecutions.

  • Compliance og krisehåndtering

    2018

    Corporate criminal liability; the impact of an effective compliance program

    An effective compliance program is essential for any business and it needs to be strong, both on paper and in practice. It addition to providing measures to assist companies to prevent, detect and respond to violations of laws and regulations, such programs have an important role to play as part of any defence against corporate criminal investigations and prosecutions.

  • Compliance og krisehåndtering

    2018

    Should privilege against self-incrimination apply to corporate investigations?

    Privilege against self-incrimination is a fundamental principle that protects witnesses from revealing information which might expose them to an accusation or criminal charge. Many legal systems recognise this privilege, and in Norway the right to protect oneself against self-incrimination is a rule of law. The privilege derives both from the right to a fair hearing as defined in article 95 of Constitution and article 6(1) of the European Convention on Human Rights in addition to article 14(3)g of the United Nations Convention on Civil and Political Rights. In the US the privilege is enshrined in the Fifth Amendment to the Constitution.

  • Internasjonale sanksjoner og eksportkontroll Compliance og krisehåndtering

    2018

    What Do President Trump's Iran Threats Mean for Norwegian Companies?

    At last month's State of the Union address, President Trump called on Congress to "address the fundamental flaws in the terrible Iran nuclear deal". Trump has been attacking the deal, formally known as the Joint Comprehensive Plan of Action (the "JCPOA"), since he began campaigning for the presidency. But this latest statement, made at one of Washington's most important political events and coming on the heels of Trump's January 12 threat to withdraw from the JCPOA, suggests that the president may be closer to taking action. If Trump does decide to end US participation in the JCPOA, how will he do it? And what will this mean for Norwegian companies considering business in Iran?

  • Internasjonale sanksjoner og eksportkontroll Compliance og krisehåndtering

    2018

    Considerations for Norwegian Companies after the US Withdrawal from the Iran Nuclear Deal

    On May 8, President Donald Trump announced that the United States would withdraw from the Iran nuclear deal.

  • Compliance

    2018

    Status for ny hvitvaskingslov og ny rapport fra FATF

    Regjeringens forslag til ny hvitvaskingslov er nå til behandling i Stortinget. Det er gjennomført åpen høring i Finanskomiteen og frist for avgivelse av komiteens innstilling er 8. mai 2017.