Finanstilsynet takes over the supervision of the ongoing disclosure obligation and delayed disclosure of inside information and the responsibility as takeover supervisory authority

The rules on the ongoing disclosure obligation, share buy-backs and stabilisation follow from the Market Abuse Regulation (MAR) and apply to issuers who have requested or approved admission  of their financial instruments to trading on a regulated market (Euronext Oslo Børs and Euronext Expand) or on a multilateral trading facility (Euronext Growth Oslo). Chapter 6 of the Norwegian Securities Trading Act regulates the mandatory bid obligation and voluntary bids in the case of acquisitions by issuers listed on a regulated market and implements Directive 2004/25/EC on takeover bids in Norwegian law (the Takeover Directive). The stated trading venues are operated by Oslo Børs.

The rules concerning the various supervised sectors are not changed. However, the transfer of supervisory tasks will have implications for issuers as they will be obliged to notify Finanstilsynet, not Oslo Børs, when submitting written notifications (hereinafter called ‘Notification’) to the supervisory authority in case of delayed disclosure of inside information under MAR. Reporting to Finanstilsynet shall be undertaken via Altinn. Oslo Børs has decided that issuers’ current notification obligation in connection with decisions on delayed disclosure, as regulated by Oslo Børs' issuer rules, will be revoked with effect from 1 April 2025. Finanstilsynet will not retain this notification obligation.

In addition, Finanstilsynet will follow up and sanction violations of the rules. This also applies to circumstances that have arisen prior to 1 April 2025. 

Finanstilsynet has prepared an information letter with further information about the implications of the transfer and the submission of Notifications to Finanstilsynet.

• Transfer of supervisory tasks from Oslo Børs to Finanstilsynet and implications for issuers (pdf)

The information letter has been distributed to issuers by Oslo Børs.

In addition, Finanstilsynet’s website will be updated with additional information on the new supervised sectors and relevant rules and regulations on 1 April 2025. 

The Ministry of Finance's decision:

• Finanstilsynet overtar myndighetsoppgaver fra Oslo Børs (in Norwegian only)