Regulatory Alerts2003-01-02
Circular on Control Committee Meeting Minutes Authorization and Legal Member Approval
The Norwegian Financial Supervisory Authority (Finanstilsynet) has updated its practices regarding the authorization of control committee meeting minutes and the approval of legal members. Meeting minutes are now considered authorized without prior submission if they are bound, paginated, and designed to prevent page removal, though institutions may still submit them for review. For legal members, institutions must verify that the appointee meets judicial requirements and notify the Authority, which will accept such notifications or continue to process formal approval applications upon request.
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