Cross-border activities

Fees for applications for and notifications of cross-border activities, etc. from 1 January 2024

The provisions of the Financial Supervision Act on the distribution of Finanstilsynet's expenses were amended with effect from 1 July 2023. The Supervisory Levy Regulations' section on processing fees entered into force on 1 January 2024. 

• Further information on funding of Finanstilsynet's expenses through supervisory levies and fees

According to the new rules, processing fees and a fixed annual levy will be introduced for some institutions operating in Norway that are licensed by financial supervisory authorities in other countries. This also includes Norwegian agents of payment institutions licensed in another EEA state and third-country auditors.

For most institutions established in another EEA state, notifications of cross-border activities will be exchanged between the various countries’ supervisory authorities. Other undertakings, such as third-country auditors and managers of alternative investment funds (AIF managers) established outside the EEA intending to market funds, must apply for an authorisation. Information on cross-border activities shall be registered in Finanstilsynet's registry.

Pursuant to section 9 of the Supervisory Levy Regulations, processing fees shall be minimum NOK 5 000 and maximum NOK 30 000. The fees shall cover the expenses incurred by Finanstilsynet's in processing the notifications and applications, including maintenance of registries and systems, etc.

The processing fees for 2024 are as follows:

• Norwegian agents of payment institutions established in another EEA state: NOK 5 000
• AIF managers established in another EEA state intending to market funds established outside the EEA (section 6-4 of the Act on the Management of Alternative Investment Funds (AIF Act)): NOK 8 000 per fund
• AIF managers established outside the EEA intending to market funds (section 6-5 of the AIF Act): NOK 15 000 per fund
• fund management companies established outside Norway intending to market foreign mutual funds that are not UCITS to non-professional investors (section 9-4 of the Securities Funds Act): NOK 25 000 per fund
• fund management companies established in another EEA state notifying marketing of foreign funds (section 9-3 of the Securities Funds Act): NOK 5 000 per fund
• AIF managers established in another EEA state notifying marketing of funds (section 6-3 of the AIF Act): NOK 5 000 per fund
• AIF managers established in another EEA state intending to market funds to non-professional investors (section 7-1 of the AIF Act): NOK 25 000 per fund
• Norwegian tied agents of investment firms established in another EEA state: NOK 8 000
• audit firms domiciled in a country outside the EEA that audit the annual financial statements of an undertaking established outside the EEA which has issued transferable securities admitted to trading on a regulated market in Norway: NOK 5 000

Invoices for the processing fees are submitted via Finanstilsynet’s provider of accounting services, the Norwegian Agency for Public and Financial Management (DFØ). DFØ uses Fair Distribution for invoice distribution. In the event of non-payment, the institution/person will not be registered in Finanstilsynet's registry, or may be removed from the registry after registration.