Fund management companies

The supervision encompasses both the institutions’ operations and financial position and compliance with business rules and general market conduct rules. Supervisory activity comprises on-site and off-site inspections.

Fund management companies under supervision

Finanstilsynet's registry provides an overview of undertakings under supervision.

Management companies from the EEA may market and sell their UCITS in Norway, provided that cross-border marketing has been notified to Finanstilsynet. These operations are subject to supervision in the country in which the management company is headquartered.

On-site inspections

As part of its supervisory activities, Finanstilsynet conducts on-site inspections. On-site inspections shall help ensure that undertakings have an informed attitude to risk and that a high level of customer protection is maintained in the securities market by ensuring that the undertakings comply with the requirements for good business practices. On-site inspections may cover the entire business or focus on specific risk areas.

Off-site inspections

Fund management companies have an obligation to report to Finanstilsynet in the form of regular, statutory reports as well as ad hoc reporting that can be carried out when deemed necessary by Finanstilsynet.

Management companies are required to report breaches of investment restrictions according to the Securities Funds Act and the fund rules.

Reporting from the management companies is used as a basis for assessing risk in the individual undertakings and for the entire industry.