Norway – FSA Reports on 2023 Supervision, Highlights Illegal Short Selling

Norway – FSA Reports on 2023 Supervision, Highlights Illegal Short Selling

On 20 February 2024, NORFSA issued report regarding its supervision in 2023, highlighting illegal short selling.

Securities Market

  • NORFSA issued report on its supervision of market behavior in the securities market.
  • For the first time, imposed fines for market manipulation and uncovered short selling.
  • In 2023, three judgments were handed down and one recommendation was given by Okokrim based on the Finanstilsynet's reports on suspicion of insider trading.

Securities Company

  • NORFSA issued report on its supervision in 2023 regarding securities companies.
  • In 2023, NORFSA carried out 4 thematic inspections covering 34 securities companies.
  • Gave advice/information to issuers on equal treatment of shareholders, handling inside information, placement of unlisted securities, market monitoring and capital adequacy.
  • There were 7 breaches of the capital requirement and the revocation of one license.