Regulatory Alerts2019-03-18
Guidance on Confidentiality under the Financial Enterprises Act, Securities Trading Act, Securities Funds Act and Alternative Investment Fund Management Act
The Norwegian Financial Supervisory Authority issued this guidance to replace previous circulars and clarify confidentiality obligations for financial enterprises, securities firms, fund management companies, and alternative investment fund managers. It defines the scope of confidentiality, identifies who is considered non-relevant, and details specific exceptions including consent-based disclosures and statutory exemptions for preventing financial crime or protecting interests. The document further regulates information exchange within corporate groups and mandates strict confidentiality compliance for external contractors.
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