Regulatory Alerts2019-12-11
Guidelines for Recovery Plans for Securities Companies
The Norwegian Financial Supervisory Authority (Finanstilsynet) issued these guidelines to establish simplified recovery plan requirements for securities companies and their parent companies under the Financial Undertakings Act. The document details specific exemptions from standard regulatory articles, allowing for reduced scope in strategic analysis, summaries, and communication plans based on the limited systemic risk posed by these entities. It mandates that plans be approved by the board, submitted by July 1, 2020, and updated every three years or upon significant changes.
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